Cognitive Collaboration - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Cognitive Collaboration Market is accounted for $831.56 million in 2018 and is expected to reach $2,458.53 million by 2027 growing at a CAGR of 12.8% during the forecast period. The increasing need for mobility and collaboration and easy integration with the already existing environment are the boosting elements for the market. However, difficulty in countering Ediscovery and legal risks is hampering the market.
The cognitive collaboration leverages artificial intelligence and machine learning to augment in-person and distributed collaboration experiences. It describes a fundamental shift in how people work together and leverage technology to foster human relationships, build better customer experiences, and ultimately achieve team goals faster.
By deployment type, cloud-based deployment has a growing prominence in the near future. The cloud-based implementation of cognitive collaboration solutions helps to cut down the total cost of ownership and increase data storage capabilities for organizations. Organizations are finding cloud-deployed cognitive collaboration solutions attractive, as they are easy to deploy, offer agility for the organizations, and provide more scalability functions than on-premises solutions, at an affordable cost.
Based on geography, North America is expected to have a huge demand during the forecast period. The adoption of AI-powered services is expected to grow in the region, owing to the growing demand to analyze large volumes of data to enhance the overall productivity, consumer experience and improve the decision-making process.
Some of the key players in Cognitive Collaboration market include Microsoft, Cisco, LOOP AI Labs, Intec Systems Limited, Bluescape, Zoom.AI, Iotum, Softweb Solutions, Cognitivescale, Konolabs, Collaboration.AI, Resemble Systems, Chanty, and Slack Technologies.
Organization Sizes Covered:
• Large Enterprises
• Small and Medium-Sized Enterprises
Deployment Modes Covered:
• Facial Recognition
• Data Analytics
• Social Media Assistance
End Users Covered:
• Banking, Financial Services, and Insurance
• IT and Telecom
• Energy and Utilities
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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