Global Cognitive Computing Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
"Global Cognitive Computing Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global cognitive computing market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global cognitive computing market report has been segmented on the basis of technology, deployment, application, end-use, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the global cognitive computing market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Cognitive computing is a combination cognitive science that combines the human brain activity and its functions with computer technology to develop the system that can think, sense, and act as human brain. The cognitive computing is to simulate human cognition processes in a computerized mechanical, and software model with the help of self-learning algorithms that use data mining techniques, pattern recognition methods, and natural language processing, to perform specific tasks same as human.
Cognitive computing systems provide solutions in distributed, dynamic, and disrupted business environment. In addition, cognitive computing system is combination of advanced hardware and software programming languages such as machine learning language and natural language processing (NLP). These systems are capable to collect, process, and interpret large volume of unstructured data repositories, that makes them a beneficial option in artificial intelligence.
Agility of informatics in information technology services and solutions is expected bolster growth of the global cognitive computing market in the forecasted period. Rising demand for integration of sophisticated hardware with advanced analytics and big data visualization tools are expected to dominate growth of the global market. In addition, integrated systems propel innovation, discovery of new computing patterns and provide insights for business expansion, these factors expected to support growth of the target market.
Rising penetration of artificial intelligence in various business sectors expected to help organizations to provide more sophisticated prescriptive analytics such as intelligence and modeling to forecast accurate and precise outcomes, these are some factors expected to support growth of the global cognitive computing market in the near future.
In addition, software application services provide various benefits such as optimized operations, continuous learning process, and improved accuracy in forecasting. For example, to predict cyberattacks cognitive computing technology help to make real time decisions and provide accurate response by analyzing real-time environment, context, and intent for fast recovery. These factors are expected to leverage challenges such as scaling human expertise and augmenting human intelligence in development of highly effective responsive system against any cyberattack.
Increasing demand for advanced data analytics for scheduling and planning automated procedure is expected to proliferate adoption of cognitive computing across the globe. For example, integration of cognitive computing technology with mars rover vehicle or Hubble space telescope help to generate patterns for successful process execution by intelligent system in dynamic environments.
However, high initial investment is a major factor expected to hamper growth of the cognitive computing market is over the forecast period. In addition, lack of prevalent skills among end user that are required for efficient implementation of cognitive computing, is another factor expected to restrain growth of the global cognitive computing market to a certain extent.
North America is expected to dominate the global cognitive technology market, owing to well developed and advanced IT infrastructure in countries in the region. Asia Pacific is expected to witness fastest growth in terms of revenue owing to high penetration of IT technology and adoption of technologically advanced solution in various industry verticals in this region. The Latin America and Middle East and Africa are expected to witness significant growth over the coming years owing to rising need for IT services in the private and government sector. In addition, increasing awareness about advanced analytics for enhancement of business processes is supporting growth of the cognitive computing market in Europe.
Global Cognitive Computing Market Segmentation:
Global market segmentation, by technology:
- Natural Language Processing
- Machine Learning
- Automated Reasoning
- Information Retrieval
Global market segmentation, by deployment:
Global market segmentation, by application:
- Cyber Security
- Social Media Monitoring
- Self-driving cars
- Video Surveillance
Global market segmentation, by end-use:
- Banking, Financial Services and Insurance (BFSI)
- Media & Communication Services
- Manufacturing and Natural Resources
- Aerospace and Defence
- Transportation and Logistics
- Government and Utilities
- Others (Food & Beverages, Oil & Gas, Real Estate)
Global market segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- Google LLC
- IBM corporation
- Microsoft corporation
- Oracle corporation
- SAP, Inc.
- Statistical Analysis System (SAS) Software Ltd.
- Saffron Technology, Inc.
- Vicarious FPC, Inc.
- Palantir Technologies, Inc.
- Enterra Solutions LLC
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