Continued Emphasis on a Data-Driven Approach to Bolster the Demand for the Cognitive Computing Market
The cognitive computing market is expected to reach a market value of US$ 49.50 billion in 2026, with a promising CAGR from 2018 to 2026. Cognitive computing is set to replicate the human capabilities of sensory perception, thinking, learning, and decision-making. The capacity to harness a vast amount of computing supremacy will take this paradigm beyond human limitation in terms of both ability and speed.
These techniques distinguish patterns and provide potential solutions that individuals may not be able to perceive. Such technological advancement will generate a huge amount of data, both structured and unstructured, and that data will be available for analysis. Effective use of computing infrastructure to rapidly process large data streams is stimulating the need for cognitive computing across all industry verticals.
Market Synopsis
Machine Learning Segment to Cement its Dominance in the Cognitive Computing Market
Machine learning, neural networks, and deep learning are the most prominent among the technology paradigms and have emerged as vital tools of intelligence in order to derive insights from information and apply judgment.
Machine learning techniques and capabilities enable applications to classify information, identify patterns in large amounts of information, make predictions, and detect anomalies. These techniques help organizations build systems that can process big data while applying their thinking abilities to correlate and classify disparate pieces of information.
Growing Investment for an Analytical Approach to Ensure a Higher Growth Rate in the Asia Pacific Market
At present, North America is the front-runner in the overall cognitive computing market. With the nature of the market here more prone to early adoption of the latest technology, the North American cognitive computing market is witnessing a steady growth rate across the forecast period. Furthermore, Asia Pacific witnessed a higher growth rate throughout the forecast period. China is rapidly becoming a global leader in artificial intelligence (AI) and cognitive computing.
China's AI investments have skyrocketed in recent years, with the goal of exceeding US$ 145.00 billion by 2030. As of June 2017, China had applied for almost 16,000 AI patents, ranking second across the world. With a rapidly growing acceptance of cognitive computing, the market here is expected to witness a higher growth rate compared to its counterparts.
Key players in the global cognitive computing market include Google LLC, International Business Machines (IBM) Corporation, Microsoft Corporation, Palantir Technologies, Saffron Technology, Inc., CognitiveScale, Inc., Enterra Solutions, LLC, Numenta, Vicarious, Ayasdi, Inc., and others.
Periods of History and Forecast
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
The cognitive computing market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global cognitive computing market based on technology type, deployment, application, and geography. Key segments covered in the report are as follows:
Key questions are answered in this report.
What was the market size of cognitive computing in 2017, and what is the forecast up to 2026?
Which is the largest regional market for cognitive computing?
What are the key market trends observed in the cognitive computing market and the outlook for the analytics sector?
Which are the most promising technology types, deployment types, and applications in the cognitive computing market?
Who are the key players leading the market?
What are the key strategies adopted by the leading players in the market?
What are the key application industry trends across different geographies and sub-geographies?
Frequently Asked Question:
The market for Cognitive Computing Market is expected to reach US$ 49.50 Bn in 2026.
The Cognitive Computing Market is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted to 2018-2026.
The base year of this report is 2017.
International Business Machines (IBM) Corporation, Microsoft Corporation, Palantir Technologies .are some of the major players in the global market.
