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Cognitive Computing - Global Market Outlook (2018-2027)

Cognitive Computing - Global Market Outlook (2018-2027)

5.0 (71 reviews)
Published: April 2020 ID: SMRC19059
5.0 (71 reviews)
Published: April 2020 ID: SMRC19059

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Cognitive Computing market is accounted for $12.49 billion in 2018 and is expected to reach $116.04 billion by 2027 growing at a CAGR of 28.1% during the forecast period. Some of the key factors propelling the market growth include growing demand for intelligent business processes, rise in customer engagement through social media platforms, increase in the demand for cognitive systems in large organizations, and developments of machine to machine technologies. However, inability to recognize customer intent and respond effectively is restraining the market growth.
 
Cognitive computing is the recreation of human thought methods in a computerized model. It consists of self-learning methods that use pattern recognition, data mining, and natural language processing to imitate the way a human brain works. The aim of cognitive computing is to generate automated IT systems that are proficient of solving problems which don't need human assist. It is used in several artificial intelligence (AI) applications, which consist of natural language programming, robotics, expert systems, neural networks, and virtual reality.

By organization size, the large enterprises segment has significant growth during the forecast period, owing to the inclination of large enterprises to adopt Artificial Intelligence (AI) and Machine Learning (ML) technologies for processing large volumes of data being generated from multiple data sources. Large enterprises have a huge corporate network and organize many events. Cognitive solutions enable large enterprises to gain customer experience and have better cognitive capabilities for business decisions.

On the basis of geography, North America is expected to have considerable market growth during the forecast period, due to rising development of various technologies in the region, increasing usage of internet and startups adopting cognitive computing solutions and the growth of various cognitive computing players in the market. Organizations, especially in the US, have started using cognitive computing solutions to analyze huge volumes of data to provide better solutions. Latest technological advancements, such as 5G and IoT have also aided in the boost of cognitive solutions in this region.

Some of the key players in cognitive computing market include Google Inc, International Business Machine Corporation, Oracle Corporation, Statistical Analysis System (SAS), Tibco Software, Inc, Microsoft Corporation, Hewlett-Packard Development Company, LP, TCS, AWS, Cisco, Cognitive Software Group, 3M Company, Enterra Solutions, Vantage Labs LLC, Palantir Technologies, SAP SE, Saffron Technology, Numenta, Cognitive Scale, and Nuance Communications, Inc.
 
Technologies Covered:
• Deep Learning
• Machine Learning (ML)
• Natural Language Processing (NLP)
• Human Machine Interface (HMI)/Human Computer Interface (HCI)
• Automated Reasoning
• Speech Recognition
• Information Retrieval
• Planning & Scheduling
• Other Technologies

Deployment modes Covered:
• Cloud
• Hybrid
• On-premise

Components Covered:
• Service
• Platform

Business functions Covered:
• Finance
• Operations
• Marketing and Advertising
• Human Resources (HR)
• Legal
• Research and Development

Organization Sizes Covered:
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
• Public Sectors

Applications Covered:
• Behavioral Analysis
• Biometrics
• Automation
• Intelligent Virtual Assistants and Chatbots
• Video Surveillance
• Self-driving Cars
• Diagnostic API's
• Social Media Monitoring
• Farm Mechanization
• Supply Chain Management
• Cyber Security
• Gaming
• IT Infrastructure Management
• Other Applications

End Users Covered:
• Media and Entertainment
• Travel and Hospitality
• Banking, Financial Services, and Insurance
• Retail and eCommerce
• Manufacturing
• Government
• Telecommunication and IT
• Healthcare and Life Sciences
• Aerospace and Defence
• Agriculture
• Food & Beverages
• Real Estate
• Oil & Gas
• Customer Care
• Industrial Sector
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand      
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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