Cognitive Computing Market Research Report

Cognitive Computing Market:

As per the GMI Research's latest analysis, Global Cognitive Computing Market reveals that the market is slated to register a significant CAGR over the forecast period. This is attributed to the rising number of complex and large datasets, rapid evolution in the computing environment, the strong demand for intelligent business processes, and increasing consumer engagement through the social media platform.

Cognitive Computing Market’s leading Manufacturers:

·         Microsoft Corporation

·         Google LLC

·         IBM Corporation

·         Numenta Inc

·         SAS Institute

·         AWS

·         Cisco Systems Inc

·         Spark Cognition

·         CognitiveScale

·         Cognitive Software Group

Cognitive Computing Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The rising number of complex and large datasets, rapid evolution in a computing environment, the strong demand for intelligent business processes, and increasing consumer engagement through social media platforms worldwide are the key drivers contributing to the growth of the global cognitive computing market size. Currently digital landscape, businesses are emphasizing on a one-to-one interaction with customers on an entirely new level. Business-to-customer players are adopting cognitive technology to improve the customer shopping experience and to learn regarding customer aspiration. Cognitive computing is a mixture of unstructured and structured data, which offers powerful new tools that can analyze and process supported customer interactions at scale in real-time. Thus, businesses derive powerful insights into customer thinking as customers can easily find the providing that is suitable for them and exhibits superior loyalty and engagement towards the brand. For example, Macy's Inc, one of the department store retailers in the US, introduced a cognitive mobile web tool by Macy's On Call, which aids shoppers in locating items and improve the in-store experience.

Business Function Segment Drivers

Based on the business function, the market is segmented into the human resource, operation, finance, marketing & sales, and others. The operation segment is predicted to increase at a faster CAGR in the upcoming years as cognitive computing solutions allows players to improve operational efficiencies and decrease overhead cost. Operations segment are highly adopting cognitive solutions and services as t helps them in catering real-time use cases including supply chain and production optimization to attain a higher return on investment (ROI).

Cognitive Computing Market Segmentation:

Segmentation by Component:

·         Platform

·         Service

o    Managed Services

o    Professional Services

Segmentation by Technology:

·         Machine Learning (ML)

·         Human Computer Interaction

o    Computer Vision

o    Machine Vision

o    Robotics

·         Natural Language Processing (NLP)

·         Deep Learning

o    Prescriptive and Predictive Modeling

o    Decision Making

Segmentation by Application:

·         Automation

·         Intelligent Virtual Assistants

·         Behavioral Analysis

·         Biometrics

·         Others (eLearning and smart education and eTherapy)

Segmentation by Deployment Mode

·         On-premise

·         Cloud

·         Hybrid

Segmentation by Organization Size:

·         Large Enterprises

·         Small and Medium-Sized Enterprises (SMEs)

Segmentation by Business Functions:

·         Human Resources (HR)

·         Legal

·         Finance

·         Marketing and Advertising

·         Others

Segmentation by Industry Vertical:

·         BFSI

·         Retail and eCommerce

·         Telecommunication and IT

·         Healthcare and Life Sciences

·         Manufacturing

·         Government and Defense

·         Media and Entertainment

·         Travel and Hospitality

·         Others (Energy and Utilities, Transportation and Logistics, and Education)

Segmentation by Region:

·         North America

o   United States of America

o   Canada

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

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