"Continued Emphasis on Data Driven Approach to Bolster the Demand for Cognitive Computing Market"
Cognitive computing market expected to hit the market value of US$ 49.50 Bn in 2026, with promising CAGR during the forecast period from 2018 to 2026. Cognitive computing set to replicate the human capabilities of sensory perception, thinking learning and decision-making. The capacity to harness 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 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 of cognitive computing across all industry verticals.
Market Synopsis
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"Machine Learning Segment to Cement its Dominance in Cognitive Computing Market"
Machine learning, neural networks and deep learning are the most prominent among the technology paradigms and emerged as vital tool of intelligence in order to derive insights from information and apply judgment. Machine learning techniques and capabilities are enabling applications to classify information, identify patterns in large information, make predictions and detect anomalies. These techniques helps organizations to build system that can process big data while applying thinking ability to correlate and classify disparate pieces of information.
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"Growing Investment for Analytical Approach to Ensure Higher Growth Rate of Asia Pacific Market"
At present, North America is the front-runner in the overall cognitive computing market. With nature of market here more prone to early adoption of latest technology, North America cognitive computing market witnessing steady growth rate across the forecast period. Furthermore, Asia Pacific accounted to witness higher growth rate throughout the forecast period. China is rapidly becoming a global leader in artificial intelligence (AI) and cognitive computing. In past few years, China’s AI investments have increased dramatically, with aim of industry to surpass US$ 145.00 Bn by 2030. As of June 2017, China applied for almost 16,000 AI patents, ranking second across the world. With rapidly growing acceptance for cognitive computing, market here expected to witness higher growth rate compared to other counterparts.
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Key players of 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.
Historical & Forecast Period
This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
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 global cognitive computing market based on technology type, deployment, application and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2016-2026 |
| Base Year |
2017 |
| Forecast Period |
2018-2026 |
| Historical Year |
2016 |
| Unit |
USD Billion |
| Segmentation |
Technology type Segment (2016–2026; US$ Bn)
• Computer Vision
• Machine Learning
• Natural Language Processing (NLP)
• Planning & Scheduling
• Robotics
• Speech Recognition
• Others (Optimization, Rules-based Systems etc.)
|
|
Deployment type Segment (2016–2026; US$ Bn)
• On-premises Deployment
• Cloud Deployment
|
|
Application Segment (2016–2026; US$ Bn)
• IT & Telecommunications
• Retail
• Healthcare
• Banking, Financial Services and Insurance (BFSI)
• Security & Surveillance
• Aerospace & Defense
• Media & Entertainment
• Others (Travel & Tourism, Education etc.)
|
|
Geography Segment (2016–2026; US$ Bn)
• North America (U.S. and Rest of North America)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)
|
Key questions answered in this report
- What was the market size of cognitive computing in 2017 and forecast up to 2026?
- Which is largest regional market for cognitive computing?
- What are the key market trends observed in the cognitive computing market and outlook for analytics sector?
- Which are the most promising technology type, deployment type and application in cognitive computing market?
- Who are the key players leading the market?
- What are the key strategies adopted by the leading players in market?
- What are the key application industry trends across different geographies and sub-geographies?
