Global Cognitive Systems, Content Analytics and Discovery Software Market to Reach $119.7 Billion by 2030
The global market for Cognitive Systems, Content Analytics and Discovery Software estimated at US$32.3 Billion in the year 2023, is expected to reach US$119.7 Billion by 2030, growing at a CAGR of 20.6% over the analysis period 2023-2030. Machine Learning Application, one of the segments analyzed in the report, is expected to record a 20.9% CAGR and reach US$34.6 Billion by the end of the analysis period. Growth in the Natural Language Processing Application segment is estimated at 24.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $10.3 Billion, While China is Forecast to Grow at 19.8% CAGR
The Cognitive Systems, Content Analytics and Discovery Software market in the U.S. is estimated at US$10.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$20.4 Billion by the year 2030 trailing a CAGR of 19.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.1% and 17.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 14% CAGR.
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