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.
Browse full research report on Cognitive
Computing Market: 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
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- China
- Japan
- India
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa
Access press release of this
research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-cognitive-computing-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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