Cognitive Automation Market, By Component (Solutions and Services), By Technology (Machine Learning, Natural Language Processing, Computer Vision, Robotic Process Automation, and Others), By End User (Banking, Financial Services, and Insurance (BFSI), IT

Cognitive Automation Market, By Component (Solutions and Services), By Technology (Machine Learning, Natural Language Processing, Computer Vision, Robotic Process Automation, and Others), By End User (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Manufacturing, Healthcare, Retail and E-commerce, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Cognitive automation is the emerging convergence of artificial intelligence technologies that automate knowledge work using a combination of machine learning, natural language processing and other analytic techniques. It helps organizations to address pressing business challenges through streamlining operations, cutting costs, improving decision making and augmenting human capabilities. Global cognitive automation market growth is driven by increasing adoption of AI technologies across industries and growing need for enhancing productivity and optimizing business processes. Key capabilities like machine learning, natural language processing, computer vision and predictive analytics transforms routine tasks and enables automation at scale.

Market Dynamics:

Global cognitive automation market growth is driven by several factors such as growing need for business process optimization and cost reduction, increasing demand for virtual assistance and chatbots, expansion of AI capabilities including machine learning and natural language processing. Moreover, rapid advancements in cognitive computing technologies and proliferation of smart devices can also drive the market growth. However, challenges related to data security, lack of standardized processes and integration issues can hamper the market growth. Emerging opportunities include increasing investments in AI startups, rising adoption of cognitive automation in developing economies and integration of cognitive capabilities with robotic process automation.

Key features of the study:

This report provides in-depth analysis of the global cognitive automation market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global cognitive automation market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Accenture, Automation Anywhere, Blue Prism, Brain Corp, Cognizant, DataRobot, Google Cloud (Alphabet Inc.), IBM, Kofax, Microsoft, NICE Systems, Pegasystems, Salesforce, SAP, and UiPath

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

Global cognitive automation market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cognitive automation market

Detailed Segmentation-

By Component Insights (Revenue, USD Bn, 2019 - 2031)

Solutions

Services

By Technology Insights (Revenue, USD Bn, 2019 - 2031)

Machine Learning

Natural Language Processing

Computer Vision

Robotic Process Automation

Others

By End User Insights (Revenue, USD Bn, 2019 - 2031)

Banking, Financial Services, and Insurance (BFSI)

IT and Telecommunications

Manufacturing

Healthcare

Retail and E-commerce

Others

By Regional Insights (Revenue, USD Bn 2019 - 2031)

North America

U.S.

Canada

Latin America

Brazil

Argentina

Mexico

Rest of Latin America

Europe

Germany

U.K.

Spain

France

Italy

Russia

Rest of Europe

Asia Pacific

China

India

Japan

Australia

South Korea

ASEAN

Rest of Asia Pacific

Middle East

GCC Countries

Israel

Rest of Middle East

Africa

South Africa

North Africa

Central Africa

Key Players Insights

Accenture

Automation Anywhere

Blue Prism

Brain Corp

Cognizant

DataRobot

Google Cloud (Alphabet Inc.)

IBM

Kofax

Microsoft

NICE Systems

Pegasystems

Salesforce

SAP

UiPath