Global Cognitive Computing Market By Technology (Natural Language Processing, Machine Learning, Automated Reasoning. Other), End- User (Small and Medium Businesses, Large Enterprises), Deployment Type (Cloud, On- Premises), Vertical (BFSI, Consumer Goods & Retail, Aerospace & Defence, Telecom & IT, Energy &Power, Travel & Tourism, Media and Entertainment, Education and Research, Other), Applications (Diagnostic APIs, Robots, Cyber Security, Farm Mechanization, Social Media Monitoring, Self-Driving Cars, Gaming, Video Surveillance, e- Learning, IT Infrastructure Management, Supply Chain Management), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Global Cognitive Computing Market is set to witness a healthy CAGR of 32.13% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising adoption of cloud-based technology and technological advancement & development in cognitive computing is the factor for market growth.
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A few of the major competitors currently working in the global cognitive computing market are Google; IBM Corporation; Microsoft; Intel Corporation; Cognitive Computing Consortium; Enterra Solutions; Numenta; Vicarious; SparkCognition; TIBCO Software Inc.; Naka Technologies; Wipro Limited; Marlabs Inc; among others.
For complex situations where the responses may be vague or unclear, cognitive computing is the use of computerized models to mimic the human thinking process. They are usually based on self- learning system which utilizes different machine learning techniques so they can perform various human functions efficiently and smartly. Natural language processing, data mining, and pattern reorganization are some of the common self- learning methods which are used. They are widely used in industries such as aerospace & defence, telecom & IT, BFSI, media & entertainment among others.
- Rising large and complex dataset will drive the market growth in the forecast period
- Availability of innovative hardware and software system will also enhance the market growth
- Advancement in the computing platforms such as cloud and mobile is another factor uplifting the growth of this market
- Growing demand from healthcare sector also drives the market growth
- High investment cost will restrain the market growth
- Complexity associated with the government and compliance will impede the market growth
- Dearth of awareness among population acts as a market restraint
- Natural Language Processing
- Machine Learning
- Automated Reasoning
By End- User
- Small and Medium Businesses
- Large Enterprises
By Deployment Type
- On- Premises
- Consumer Goods & Retail
- Aerospace & Defence
- Telecom & IT
- Energy &Power
- Travel & Tourism
- Media and Entertainment
- Education and Research
- Diagnostic APIs
- Cyber Security
- Farm Mechanization
- Social Media Monitoring
- Self-Driving Cars
- Video Surveillance
- e- Learning
- IT Infrastructure Management
- Supply Chain Management
- North America
- South America
- Middle East and Africa
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Key Developments in the Market:
- In April 2018, Marlabs Inc announced the launch of their new AI and cognitive computing platform mAdvisor. This new launch uses technologies such as machine reasoning, machine learning, natural language processing, and natural language generation so they replicate human behavior in order to automate analytical activities such as data analysis, estimation and prediction. This will help the businesses to make accurate decisions
- In October 2015, Intel Corporation announced the acquisition of Saffron. Saffron’s innovative software consumes data from different sources and connects the dots automatically to help companies to their boost decision-making. Saffron will continue to grow its current, independent business and contribute its technology to Intel’s activities and initiatives. This acquisition will help the Intel to strengthen their market position
Global cognitive computing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cognitive computing market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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