PUBLISHER: The Business Research Company | PRODUCT CODE: 1455421
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455421
The market for content analytics, discovery, and cognitive software comprises technologies aimed at analyzing and interpreting large volumes of data to provide organizations with valuable insights, enhance operational efficiency, and drive innovation across diverse sectors. These software solutions offer a wide array of applications, including machine learning, deep learning, hypothesis generation, entity and relationship extraction, as well as supervised and unsupervised learning.
The primary types of content analytics, discovery, and cognitive software include test software, information discovery software, deep learning software, and others. Test software is typically designed for testing purposes and finds application across various domains such as software development, quality assurance, and hardware testing. These solutions are deployed through on-premises and cloud-based models and are utilized by a range of end users including government and public services, the finance and banking sector, insurance companies, utilities, telecommunication operators, IT and high-tech ECM providers, healthcare and pharmaceutical organizations, media and web publishing companies, retail businesses, transportation companies, and real estate firms.
The content analytics, discovery and cognitive software market research report is one of a series of new reports from The Business Research Company that provides content analytics, discovery and cognitive software market statistics, including the content analytics, discovery and cognitive software industry global market size, regional shares, competitors with a content analytics, discovery and cognitive software market share, detailed content analytics, discovery and cognitive software market segments, market trends and opportunities, and any further data you may need to thrive in the content analytics, discovery and cognitive software industry. This content analytics, discovery and cognitive software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The content analytics, discovery and cognitive software market size has grown rapidly in recent years. It will grow from $5.09 billion in 2023 to $6.06 billion in 2024 at a compound annual growth rate (CAGR) of 19.2%. The growth observed during the historical period can be attributed to several factors, including the increasing production and consumption of content, a rising adoption of advanced enterprise content management systems, and a high demand for personalized content services.
The content analytics, discovery and cognitive software market size is expected to see rapid growth in the next few years. It will grow to $11.9 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. The anticipated growth in the upcoming period can be attributed to several factors, including the increasing necessity to align content strategy with business objectives, the growing volume of data generated, and a heightened awareness of the benefits of content intelligence. Key trends expected in the forecast period include the adoption of AI-powered content recommendation systems, the expansion of content personalization solutions, integration with marketing automation platforms, the rise of predictive analytics for content strategy, and the development of real-time content insights platforms.
The anticipated increase in the use of cloud-based technology is set to propel the expansion of the content analytics, discovery, and cognitive software market in the future. Cloud-based technology involves leveraging computing resources, including storage, processing power, and applications, delivered over the internet (the cloud), rather than being hosted on local servers or personal devices. The integration of content analytics, discovery tools, and cognitive software within cloud-based technology offers numerous advantages, collectively enhancing the intelligence, efficiency, and security of cloud environments. For instance, data from The Bureau of Labor Statistics, a US-based Government agency, indicates that expenditure on public cloud services rose from $270 billion in 2020 to $332.3 billion in 2021, and then further to $397.5 billion in 2022, reflecting a growth rate of 23.1%. Thus, the increasing use of cloud technologies is expected to contribute to the growth of the content analytics, discovery, and cognitive software market.
Key players in the content analytics, discovery, and cognitive software sector are dedicated to developing and implementing new technologies such as AI-first core to meet consumer demand and reinforce their market position. AI-first refers to a strategic approach that places artificial intelligence (AI) at the forefront of a company's operations, from inception to execution. For example, in May 2023, Infosys, an India-based information technology company, introduced Infosys Topaz, an AI-first offering designed to accelerate business value for global enterprises through the use of generative AI technologies. This comprehensive suite of services, solutions, and platforms harnesses generative AI to amplify human potential, enabling enterprises and communities to capitalize on emerging opportunities and derive value from interconnected ecosystems and enhanced efficiencies. Infosys Topaz empowers individuals to deliver cognitive solutions that expedite value creation, integrating the capabilities of Infosys Cobalt cloud, data analytics, and AI to drive growth and foster intuitive experiences.
In August 2023, OpenText, a Canada-based enterprise information management software company, completed the acquisition of Micro Focus for $6 billion. This acquisition aims to bolster OpenText's presence in the content analytics, discovery, and cognitive software markets, enhancing its ability to deliver innovative solutions and services to customers, ultimately leading to increased revenue and market share. Micro Focus, a UK-based software company, specializes in providing content analytics, discovery, and cognitive software solutions.
Major companies operating in the content analytics, discovery and cognitive software market report are Google Inc., Microsoft Corporation, Facebook Inc., IBM Inc., Oracle Corporation, SAP SE, Hewlett-Packard Enterprises, Baidu Inc., Adobe Inc., Wipro, OpenText Corporation, Symantec Corporation, SAS Institute Inc., Micro Focus International plc, Tibco Software Inc., Verint Systems Inc., Coveo Solutions Inc., Lucidworks, Expert System, Basis Technology, Cognitivescale, Attivio, Stratifyd, Mindbreeze, Indico Data Solutions, Squirro, Yseop, Luminoso Technologies, Lexalytics, Smartlogic, Elastic GmbH
North America was the largest region in the content analytics, discovery and cognitive software market in 2023. The regions covered in the content analytics, discovery and cognitive software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the content analytics, discovery, and cognitive software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The content analytics, discovery, and cognitive software market consists of revenues earned by entities by providing services such as content analytics solutions, cognitive software applications, text mining and NLP tools, predictive analytics solutions, and information governance platforms. The market value includes the value of related goods sold by the service provider or included within the service offering. The content analytics, discovery, and cognitive software market also includes sales of servers, high-performance computing (HPC) clusters, and hardware accelerators. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Content Analytics, Discovery and Cognitive Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on content analytics, discovery and cognitive software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for content analytics, discovery and cognitive software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The content analytics, discovery and cognitive software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.