Tuesday, 27 July 2021 03:19 GMT

Cognitive Computing Market Size, Growth, Technology Features, Analysis by 2030 and Top key players

(MENAFN - America News Hour)Global Cognitive Computing Market is valued approximately at USD 9.16073 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 37% over the forecast period 2019-2026. Cognitive Computing is different from computer programming. It is a system that uses natural language processing (NLP) and machine learning algorithms to sense, predict and conclude a situation from the digital data available in the form of human voice, videos, pictures, etc. This system can process unstructured data and learn from experiences much like humans. The use of Cognitive computing in making decisions in industries like health care, customer services and finance and its expansion to education, research and defense industries are the few factors responsible for high CAGR of the market over the forecast period.

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In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.

As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.

The regional analysis of global Cognitive Computing Market  is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing demand for Cognitive Computing applications in healthcare, BFSI, consumer goods and retail, aerospace and defense, telecom and IT, energy and power, travel and tourism, media and entertainment and education and research . However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Further application of Cognitive Computing in the industries like health care, finance and customer service are the factors that would create lucrative growth opportunities for the Cognitive Computing market across the region.

Major market player included in this report are:
Microsoft Corporation
Saffron Technology
Cold Light
Cognitive Scale
Enterra Solutions

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology
Natural Language Processing (NLP)
Machine Learning
Automated Reasoning
Other Technologies

By End User
Small and Medium Businesses (SMBS)
Large Enterprises
By Deployment Model

By Vertical
Consumer Goods and Retail
Aerospace and Defense
Telecom and It
Energy and Power
Travel and Tourism
Media and Entertainment
Education and Research

By Region:
North America
Asia Pacific
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Global Cognitive Computing Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Billion)
1.2.1. Cognitive Computing Market, by Technology, 2017-2026 (USD Billion)
1.2.2. Cognitive Computing Market, by End User, 2017-2026 (USD Billion)
1.2.3. Cognitive Computing Market, by Deployment Model, 2017-2026 (USD Billion)
1.2.4. Cognitive Computing Market, by Vertical, 2017-2026 (USD Billion)
1.2.5. Cognitive Computing Market, by Region, 2017-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Cognitive Computing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Sensor Type Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Cognitive Computing Market Dynamics
3.1. Cognitive Computing Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Cognitive Computing Market Sensor Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Cognitive Computing Market, by Technology
5.1. Market Snapshot
5.2. Global Cognitive Computing Market by Technology, Performance – Potential Analysis
5.3. Global Cognitive Computing Market Estimates & Forecasts by Technology 2016-2026 (USD Billion)
5.4. Cognitive Computing Market, Sub Segment Analysis
5.4.1. Natural Language Processing (NLP)
5.4.2. Machine Learning
5.4.3. Automated Reasoning
5.4.4. Other Technologies
Chapter 6. Global Cognitive Computing Market, by End User
6.1. Market Snapshot
6.2. Global Cognitive Computing Market by End User, Performance – Potential Analysis
6.3. Global Cognitive Computing Market Estimates & Forecasts by End User, 2016-2026 (USD Billion)
6.4. Cognitive Computing Market, Sub Segment Analysis
6.4.1. Small and Medium Businesses (SMBS)
6.4.2. Large Enterprises

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