Cognitive Computing Market Size, Share, Industry Analysis, Global Trends and Forecast to 2025

(Heraldkeepers via Comtex)

Global Cognitive computing market is in its initial phases. Cognitive computing system applies machine-learning, natural language processing models, automated reasoning, and others to process a large volume of complex data. These models operate in such a way that they understand and interpret the working of a human brain by combining human work with machines. In the current scenario, the digital data and its processing are continuously increasing, and organizations find it difficult to analyze the immense digital data. The cognitive computing systems assist in converting the information in the form of pictures and the human voice into digital form. These systems can predict sense and conclude a specific situation.

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Furthermore, cognitive computing enables the processing of unstructured data, natural language and can learn from experiences just like an individual. Cognitive computing is being increasingly used in the decision-making process in industries such as finance, healthcare, education, research and development, customer services and defense. This has significantly increased the demand for the cognitive computing market. Examples of cognitive computing software available in the market include Vantage Software, Cafe Well Concierge, Sofie, BrightMinded, WayBlazer, and Edge Up Sports.

The global cognitive computing market is being driven due to multiple factors that include increased demand for analysis of big data, rising application in the healthcare sector, and increasing demand for natural language processing technology. Furthermore, the growth of the market is being fueled due to the increasing adoption of cloud-based technology in different industries and the presence of numerous market players competing in this market. However, certain factors are expected to hinder the growth of cognitive computing market. These factors include complexity in the analysis of unstructured data, lack of accuracy in translating the human voice into digital form and challenging training process.

The key players in the global cognitive computing market include Cisco, Cognitive Scale, Expert system, Google, Inc., IBM Watson, Microsoft Corporation, Numenta, Palantir, Saffron Technology, SparkCognition, and Vicarious. The market players compete by introducing automated solutions and smart applications for various industries, collaborating or entering into a partnership with startups, and developing economical cognitive computing technologies to attract new customers. For instance, in June 2019, Thomson Reuters launched the Thomson Reuters Checkpoint Edge platform that provides the fastest answers to the most complex regulatory and tax law questions.

Current Market Trends Covered in the Market Report:

  • Increased application of cloud-based services in industries
  • The enormous growth in big data fuels cognitive computing system
  • Increased application of cognitive computing in diversified industries

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Global Cognitive Computing Market - Segmentation

By Technology

  • Natural Language Processing
  • Machine Learning
  • Automated Reasoning
  • Other (Information Retrieval)

By Deployment

  • Cloud
  • On-Premise

By Vertical

  • Aerospace and Defense
  • BFSI
  • Telecom and It
  • Consumer Goods and Retail
  • Energy and Power
  • Travel and Tourism
  • Media and Entertainment
  • Education and Research
  • Others

List of Industry Key Players

The companies present actively in the global cognitive computer market are Cisco, Cognitive Scale, Expertsystem, Google, Inc., IBM Watson, Microsoft Corporation, Numenta, Palantir, Saffron Technology, Sparkcognition, Vicarious. Apixio received $19M Series D funding that fuels cognitive computing in healthcare sector. The company's platform is tapping into the 80% of healthcare data that is unstructured, with the ultimate goal of advancing the science of medicine.

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Cognitive computing market report summarizes the positive growth rate in upcoming years, and market size with competitive analysis. Our experts have analyzed the historical data to compare with the current market scenario to calculate the market growth in the coming years. The study provides an exhaustive report that includes an executive summary, scope, and forecast of the market.

The key questions answered in the cognitive computing market study:

  • To analyze the global cognitive computing market size (values and volume) by Service Type, Waste Type with historical data of 2017 and 2018 and forecast to 2025.
  • To study the key factors influencing the growth of the market.
  • Focuses on the key leaders to define and analyze the sales volume, value, share, competitive landscapes, SWOT analysis, and development plans.
  • To analyze the global cognitive computing market growth, global trends, future prospectus and contribution to the market.

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