Cognitive Computing enables the processing of huge volumes of complex data and enhances the enterprise’s productivity levels. Cognitive Computing translates unstructured data (videos, natural language, images and symbols) to infer and predict the best solution. The major application of Cognitive Computing is in the healthcare followed by BFSI and military and defense among others.
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The key factors driving the growth of the industry are increasing volume of unstructured data and harness speed of internet. 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. Other factors contributing to the growth of the market include the development of innovative hardware and software systems and Cloud-based technological advancements. Higher investment by major players is also expected to boost the market substantially. Conversely, the major restraining factors are a lack of awareness regarding this technology
By technology, the market is segmented into Natural Language Processing, Machine Learning, Automated Reasoning and Others (Information Retrieval). The natural language processing segment generated the maximum revenue in 2014, accounting for over 40% of the total market revenue followed by machine learning which is the second highest segment, constituting around 30% of the total revenue. The natural language processing segment is expected to continue its dominance through the forecast period. Based on the application the market is segmented into Healthcare, BFSI, Retail, Government, Military and Defense, Communication and Technology, and Others. On the basis of the end-user, the market is categorized as large enterprises, small & medium enterprises and public sector.
Asia Pacific, South America, North America, Europe, and the Middle East & Africa constituted the key market segments. Among these North America accounts for most of the market shares in 2017 valuing US$11.29 billion, followed by Asia-Pacific region and Europe. Asia Pacific is expected to emerge as the fastest-growing region over the next nine years owing to the rise in small and medium enterprises in emerging countries, such as India and China.
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Key vendors in the market are HP, IBM, Microsoft, SE. Some other prominent players dominating the market include Google, Oracle Corporation, SAP, Statistical Analysis System (SAS), Saffron Technology, Cognitive Scale, Numenta, Palantir, Tibco Software, and Vicarious.
Report ContentsRegional AnalysisReport Highlights
Global Market segments
Global Market Drivers, Restraints and Opportunities
Global Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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