The global cognitive computing market size is expected
to reach USD 49.36 billion by 2025, according to a new study conducted by Grand
View Research, Inc. The surge in demand for the cognitive computing technology
across North America and Europe is anticipated to drive the industry growth
over the next nine years. It enables business organizations to incorporate
advanced data analytics technology in their business processes to measure the
risk associated with the strategic initiatives.
Industry players are progressively investing a
significant amount to adopt the modern cognitive solution by profound research and
development. Since 2010, several mergers and acquisitions have taken place by
large enterprises to utilize this inherent technological platform into the
organization.
The incorporation of features, such as Artificial
Intelligence and Internet of Things that enables automated integration between
software, hardware platform, and the consumer, is energizing the industry
growth prospects. These features subsequently influence the market dynamics and
accelerate the growth momentum to rise to its optimal level.
The increasing consumer preference toward
profound data analysis is a favorable trend observed in the market. The
continuous development of cloud computing platform and on-premises hardware
equipment for the safe and secure data storage is instrumental to the
widespread adoption of cognitive solution across diverse industrial verticals.
The cognitive computing solution has the
potential to perform analysis and support business decision making against a
huge amount of data generated daily across various industries. It also has the
potential to identify anomalous behavior in the data by inspecting usage
patterns to block the cyber-attacks.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/cognitive-computing-market
Further key findings from the study suggest:
·
The natural language processing technology
segment dominated the industry, accounting for over 40% of the overall volume
due to the surging demand for pattern recognition
·
Cloud systems are expected to gain momentum as
they facilitate secure and integrated data storage solution according to the
business requirements
·
The Asia Pacific region is predicted to emerge
as the fastest growing market owing to the rise in small and medium enterprises
in emerging countries, such as India and China
·
Prominent vendors operating in the market
include Google, IBM, Microsoft Corporation, Oracle Corporation, SAP,
Statistical Analysis System (SAS), and Saffron Technology
·
Increased focus on research and development
activities and adoption of artificial intelligence are being observed in the
industry
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the global cognitive computing market on the basis of technology, deployment, application, and region:
Technology Outlook (Revenue, USD Million; 2014 - 2025)
·
Natural Language Processing
·
Machine Learning
·
Automated Reasoning
·
Information Retrieval
Deployment Outlook (Revenue, USD Million; 2014 - 2025)
·
On-premises
·
Cloud
Application Outlook (Revenue, USD Million; 2014 - 2025)
·
Healthcare
·
Retail
·
BFSI
·
Security
·
IT & Telecom
·
Aerospace & Defense
·
Others
Cognitive Computing Regional Outlook (Revenue, USD Million; 2014 -
2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
Japan
o
India
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
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