Cognitive Computing Market By Deployment Type (On-premise, Cloud), By Technology (Natural Language Processing (NLP), Machine Learning, Automated Reasoning, Others), By Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), By Industry Ve

Cognitive Computing Market By Deployment Type (On-premise, Cloud), By Technology (Natural Language Processing (NLP), Machine Learning, Automated Reasoning, Others), By Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), By Industry Vertical (Healthcare, BFSI, Retail and Ecommerce, Government and Defense, IT and Telecom, Energy and Power, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Cognitive computing is a next-generation system that interacts in human language and helps experts to make better decisions by understanding the complexity of unstructured data. The global cognitive computing market encompasses technologies such as natural language processing, machine learning, automated reasoning, and information retrieval, which are used in translating unstructured data to sense, infer, and predict the best solution. The research conducted provides details on the products of technology, its applications, end users and the companies operating in the region along with their key strategies.

Moreover, the increase in the demand for cognitive computing solutions in large and medium-sized organizations is likely to increase global market growth, owing to the integration of cloud-based solutions in the global cognitive computing market. IBM Watson, a leading player operating within the cognitive computing market, is planning to introduce Watson Analytics cloud-based service in the coming years that would boost the adoption of cognitive computing through cloud. Cognitive computing is gaining momentum in the developed countries. This competent factor of cloud-based services is anticipated to act as an opportunity for growth in the global cognitive computing market.

In addition, cognitive computing is majorly used in BFSI, healthcare, energy & power, retail, e-commerce, and other sectors. Increase in volume of unstructured data and advancements in technology are the major driving forces of the cognitive computing market. Cloud-based technological advancements, development of innovative hardware & software systems and cognitive experience interfaces are the factors expected to foster the growth of the cognitive computing market. In addition, the use of digital technologies help to improve data management and analytics, as well as provide enterprises with a better knowledge of their product portfolio. Such aforementioned factors are expected to provide lucrative opportunities for market growth during the forecast period. Such enhanced factors are expected to provide lucrative opportunities for market growth during the forecast period, which is anticipated to accelerate the market demand and hence, drive global market growth.

Also, growing digitalization, and rising need for intelligent data processing solutions, and an increase in the adoption of advanced technologies are positively impacting the growth of the market. Moreover, the growing need for personalization and improving customer experience is also anticipated to create lucrative opportunities for market growth. Furthermore, the rise in internet tools for processing data is also arising, which is expected to provide lucrative growth opportunities for the market in the forecast period. Moreover, the increasing adoption of internet devices and growing demand for flexible security services across various businesses are expected to fuel the growth of the market during the forecast period.

Furthermore, advancement in enabling technology and increase in volume of large complex data, which positively impacts the growth of the market in the future. In addition, evolutions in computing platforms expected to drive global market growth. However, the high cost of deploying cognitive computing systems, and lack of awareness are expected to hamper market growth. Furthermore, impact on business application is expected to create numerous opportunities for cognitive computing solutions.

The cognitive computing market is segmented into technology, deployment type, enterprise size, industry vertical, and region. By technology, it is categorized into natural language processing, machine learning, automated reasoning, and others. On the basis of deployment type, it is divided into on-premise and cloud. Further, on the basis of enterprise size, it is classified into large enterprises and small and medium enterprises. Depending on industry vertical, it is segregated into healthcare, BFSI, retail, government & defense, IT & telecom, energy & power, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report highlights numerous factors that influence the growth of the global cognitive computing market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key market players to increase their market share and sustain intense competition in the industry. The key players operating in the market include 3M, Google LLC, Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Tibco Software Inc. and TATA Consultancy Services Limited (TCS).

Key Benefits for Stakeholders

The study provides an in-depth analysis of the cognitive computing market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on cognitive computing market trends is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the cognitive computing market from 2022 to 2032 is provided to determine the market potential.

Key Market Segments

By Deployment Type

On-premise
Cloud

By Technology

Natural Language Processing (NLP)
Machine Learning
Automated Reasoning
Others

By Enterprise Size

Large Enterprises
Small and Medium-sized Enterprises

By Industry Vertical

Healthcare
BFSI
Retail and Ecommerce
Government and Defense
IT and Telecom
Energy and Power
Others

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Google LLC
Oracle Corporation
IBM Corporation
Microsoft Corporation
SAS Institute Inc.
TATA Consultancy Services Limited
SAP SE
Tibco Software Inc.
3M
Hewlett Packard Enterprise Development LP

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