This report was recently updated on November 16 2024 with the latest and most recent
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Cognitive Computing Market Size & Analysis - Forecasts To 2025 By Technology (Natural Language Processing, Machine Learning, Automated Reasoning, Information Retrieval), By Deployment (On-Premise, Cloud), By Application (BFSI, Healthcare, Security, Retail, IT & Telecom, Aerospace, Others), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), End-Use Landscape, Vendor Landscape, Market Share Analysis & Competitive Landscape - Global Market Estimates
Cognitive Computing Market Insights
The demand for cognitive computing is projected to grow at a high CAGR from 2017 to 2025. Prominent companies across the world are investing continuously in machine learning and artificial intelligence. Cognitive computing uses machine learning solution to perform tasks in human like way.
Major companies such as IBM Corporation have invested more than USD 26 billion in cognitive computing research & development activities. The large volume of structured and non-structured data available to the company is hard to process. Cognitive computing helps companies gain insights and conclusions by analysing unstructured data.
Cognitive Computing Market: Technology Insights
On the basis of technology, the cognitive computing market is segmented into natural language processing, machine learning, automated reasoning, and information retrieval. Natural Language Processing (NLP) held the largest share in 2016. Machine learning is expected to occupy the second largest share over the coming years.
Cognitive Computing Market: Deployment Insights
On the basis of deployment, the cognitive computing market is segmented into on-premise and cloud based cognitive computing. The cloud based cognitive computing segment is projected to grow at a high CAGR over the forecast period and also occupies a large share in the market. The increase preference for cloud based services such a integrated cloud data storage facilities is projected to positively imapact market demand over the coming years.
Cognitive Computing Market: Application Insights
On the basis of application, the cognitive computing market is segmented into BFSI, healthcare, security, retail, it & telecom, aerospace, and others. Rapid technological advancements and developments in the BFSI, aerospace & defense, automotive and electronics sector is anticipated to boost the demand for cognitive computing. Cognitive computing is also expected to gain prominence in the healthcare sector by reducing time on paperwork.
Cognitive Computing Market: Regional Insights
The demand for cognitive computing solutions in the North American and European region is projected to grow at a high CAGR over the forecast period. High investments in integrated cloud platforms and AI are projected to positively influence demand over the coming years. Large importance on data security in the North American market is anticipated to propel demand for cognitive computing solutions. The Asia Pacific market is projected to grow at the highest CAGR over the coming years. Rapid growth in multinational organizations is projected to boost demand for cognitive computing solutions.
Cognitive Computing Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Cognitive Computing Market: End-Use Landscape
The report provides a detailed list of end-users operating across the world. The end-user landscape includes consumer contact details, geographical presence, revenue, product portfolio, organic and inorganic growth strategies among others. Some of the companies who are likely to use cognitive computing include Google, Facebook, and Klevu Oy among others.
Cognitive Computing Market Share & Competitor Analysis
Major companies included in the cognitive computing market include CognitiveScale, PTC, Google, Hewlett Packard (HP), Enterra Solutions, Microsoft Corporation, IBM, Nuance Communications Inc., Oracle Corporation, Numenta, Palantir, and Saffron Technology among others. Growing investments in artificial intelligence is projected to positively influence market demand over the coming years.
Please note: This is not an exhaustive list of companies profiled in the report.
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The global Cognitive Computing Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Cognitive Computing Market .
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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