The increasing need for collaboration and mobility coupled with easy integration with the already prevailing environment drives the demand for cognitive collaboration market
It incorporates enterprise content, artificial intelligence, and data insights along with analytics to offer contextual significance to the organizational meeting, team collaboration, calling, and contact center communications. Cognitive collaboration uses cloud and deep analytics to facilitate new levels of insight and intelligence to enhance teamwork and human engagement. The global cognitive collaboration market size is projected to reach USD 4,235.8 million by 2028.
Cognitive collaboration leverages Machine Learning (ML) and Artificial Intelligence (AI) to enhance in-person as well as distributed collaboration experiences. Moreover, it is likely to bring a fundamental shift in collaborating people work together and influence technology to build better customer experiences, foster human relationships, and achieve team goals faster. The key industry participants constantly engage in customizing and upgrading their services to survive in the competitive environment, which in turn offers lucrative prospects for market expansion. Moreover, companies are also concentrating on providing advisory expert services to tackle intricate business problems.
The global cognitive collaboration market contains both solution and service segments. The solution segment has a maximum revenue share within the global cognitive collaboration market in 2019. This is predominantly owing to the capability to integrate with present systems that include data analytics, social media assistance, facial recognition, and availability of deployment alternatives for various mobile devices. The services segment is anticipated to grow at a significant growth rate from 2020 to 2028.
The global cognitive collaboration market has competition among existing and new players in the market. These market players target to gain a competitive advantage over the other players in the market by engaging in partnerships, mergers, and acquisitions and growing their businesses.
The global cognitive collaboration market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the cognitive collaboration applications, owing to the presence of an organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the cognitive collaboration market in North America.
The major players of the global cognitive collaboration market areCisco, Slack Technologies, Microsoft, Softweb Solutions, LOOP AI Labs, CognitiveScale, Intec Systems Limited, Bluescape, Collaboration.Ai, Chanty, Ku Zoom.ai, Resemble Systems,iotum, Konolabs, and more. The cognitive collaboration market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Cognitive CollaborationMarket
Component Overview, 2018-2028 (USD Million)
Organization Size Overview, 2018-2028 (USD Million)
- Small & Medium
Deployment Overview, 2018-2028 (USD Million)
Application Overview, 2018-2028 (USD Million)
- Telecom & IT
- Energy & Utilities
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America