TECH

Global Cognitive Computing Market By Component and by Region

Cognitive Computing Market

The GMI Research projects that the Cognitive Computing Market will experience a surge in demand over the forecast period. This is because of the aggravating demand for a seamless experience, a swift rise in big data analytics, and the establishment of the machine to machine technologies.

Introduction of the Cognitive Computing Market

Cognitive computing is the usage of automated models to counterfeit human thought processes during difficult situations where answers may be ambiguous. The technology makes use of self-learning algorithms via pattern identification, data mining, and natural language processing allowing computers to imitate the way the human brain works.

Key Players of Market:

  • Google LLC
  • Microsoft Corporation
  • AWS
  • IBM Corporation
  • Numenta Inc
  • SAS Institute
  • Cisco Systems Inc
  • Spark Cognition
  • Cognitive Software Group
  • CognitiveScale

Cognitive Computing Market Dynamics

The accelerating number of complicated and extensive datasets, aggravating demand for smart business procedures, ongoing development in the computing environment, as well as the growing customer participation via social media platforms have amplified the demand for the global cognitive computing market. In addition, the rising emphasis on unrestrained interaction with customers has stimulated the market demand. Also, cognitive computing merges structured and unstructured data to offer powerful tools to interpret and handle supported customer interactions in real-time. Therefore, businesses acquire a powerful perception about customer’s thinking as they can discover the offering that befits them and presents high-quality loyalty and involvement towards the brand. For instance, Macy’s Inc, the department store retailer across the U.S., introduced a cognitive mobile web tool called Macy’s On Call to help shoppers discover items and improve the in-store experience.

Business Function Segment Drivers

In accordance with the business function, the market is dismembered into operation, human resource, finance, and marketing & sales. Amongst which, the operation is predicted to expand at a faster rate over the forecast period. These solutions allow the enterprise to improve functional effectiveness and minimize overhead costs. Moreover, operations are acquiring cognitive solutions and services to help them fulfilling real-time cases such as supply chain and production expansion to acquire a higher return on investment (ROI) which further energizes Cognitive Computing Market Share.

Deployment Segment Drivers

Based on deployment, hybrid is forecasted to capture the highest market share over the forecast period. This is because of its feature to mechanize the maintenance procedure of equipment and maximize profits. Further, businesses are acquiring hybrid solutions to help them overpower the shortcomings concerned with conventional IT methodologies by offering cost efficiency, adjustability, swiftness, scalability, and convenience in data creation.

Regional Drivers

Based on the regional coverage, North America is contemplated to perceive a faster rate over the coming years. This is because of the amplified implementation of the internet and the rising acquisition of cognitive computing technology by start-ups. Moreover, technologies such as 5G and the internet of things supplemented the Cognitive Computing Market Share. Furthermore, Asia-Pacific is projected to expand at a faster growth rate over the coming years owing to the deployment of cloud-based services in SMEs.

Cognitive Computing Market Segmentation:

Segmentation by Component
  • Platform
  • Service
  • Managed Services
  • Professional Services
Segmentation by Business Function
  • Human Resource
  • Operation
  • Finance
  • Marketing and Sales
  • Others
Segmentation by Technology
  • Machine Learning (ML)
  • Human Computer Interaction
  • Computer Vision
  • Machine Vision
  • Robotics
  • Natural Language Processing (NLP)
  • Deep Learning
  • Prescriptive and Predictive Modeling
  • Decision Making
Segmentation by Application
  • Automation
  • Intelligent Virtual Assistants
  • Behavioral Analysis
  • Biometrics
Segmentation by Deployment Mode
  • On-premise
  • Cloud
  • Hybrid
Segmentation by Organization Size
  • Large Enterprises
  • Small and Medium-Sized Enterprises (SMEs)
Segmentation by Industry Vertical
  • BFSI
  • Retail and eCommerce
  • Telecommunication and IT
  • Healthcare and Life Sciences
  • Manufacturing
  • Government and Défense
  • Media and Entertainment
  • Travel and Hospitality
Segmentation by Region:
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • RoW
    • UAE
    • Brazil
    • South Africa
    • Saudi Arabia

About GMI Research

The consulting and market research enterprise imparts small, medium, and large corporations with research reports and perceptions of businesses. The team of GMI Organizations supports clients in interpreting the effects of various dynamics of market. Our analysts and industrial experts perform market studies to confirm that factual and appropriate research reaches different sectors. The main priority of our organization is abridge our clients with arriving threats, obstacles, and opportunities to help them perform better than others.

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