This Cognitive
Computing Market report is an
exhaustive research on companies active in Cognitive Computing sector, its
applications, products, end-users, trends and predictions on how the market
will grow in coming years.
Cognitive Computing
Market size is projected to experience a significant growth during the forecast
time frame owing to the high demand for predictive analytics and workplace
performance enhancements. Predictive analytics is largely adopted by various
industries such as BFSI, healthcare, pharmaceuticals, retail, and others. This
technology offers machine learning capabilities and natural language query
processing for real-time computing applications and decision-making. The
organizational shift toward big data can lead to issues regarding inadequate
sources to mine useful data from large datasets.
Vendors operating in the
cognitive computing market provide self-learning systems that can effectively
manage and analyze large resources within short time durations. The high
reliance on the availability of the internet for functioning mandates the need
for a high internet speed. Infrastructural development across the world due to
the high emphasis on the provision of high-speed internet is a major factor
driving the growth of the cognitive computing market.
Request for an in-depth table of
contents for this report @ https://www.gminsights.com/request-toc/upcoming/1861
The high cost of developing, deploying, and
maintaining this technology is a major factor hindering the growth of the
cognitive computing market. As the world is continuously changing, the software
needs to be constantly updated and connected to the internet to function
efficiently. The excessive cost can severely prohibit its adoption by SMEs
having limited financial resources. The growing prominence of cloud technology
in the cognitive computing market is posing a threat to the market’s growth in
the short-term and can leave it vulnerable to third-party attacks of
information theft and hacking attempts. Low awareness amongst businesses about
the benefits and applications of the technology can decrease the pace of the
industry growth.
The fast-growing trend of IoT is creating new avenues
for the cognitive computing market. Data acquired by IoT devices is massive and
unstructured and the technology helps in managing volume, unpredictability, and
complexity of this information. Moreover, this will allow businesses that were
earlier unable to recognize insights and patterns from disparate sources to aid
in improved decision-making. Growing instances of cybercrime and hacking
attacks are motivating vendors in the cognitive computing market to develop
their technology to tackle this issue. IBM initialized the Watson for Cyber
Security project to aid professionals in identifying threats, detecting
malware, and send alerts on the level of threat imposed on the user. The
technology aids organizations to identify suspicious behavior by application of
behavioral biometrics and pattern analysis.
Segmentation of the cognitive computing market based
on deployment is bifurcated into cloud and on-premise. Large organizations with
high financial resources are more inclined to invest in premise systems as they
offer complete control and protection of the critical organizational data. The
cloud deployment segment of cognitive computing is anticipated to exhibit high
growth during the forecast time span. Integration on cloud platform reduces the
need to constantly upgrade the software and reduces the overall financial and
maintenance costs. Furthermore, cloud-based deployment in the cognitive
computing market decreases the ownership cost, need for investments in the
infrastructural development of the software, and the requirement of dedicated
resources such as a specialized team of data scientists managing the system.
Cognitive computing market segmentation on industry
verticals include BFSI, healthcare, construction and engineering, oil and gas,
retail, education, government and defense, transportation, and others. The
healthcare industry is anticipated to experience a high growth during the
forecast time period as it allows doctors and specialists to have access to the
data collected from disparate and exogenous sources, take informed decisions,
and examine critical attributes of a patient case. The BFSI application of this
technology is anticipated to keep a track of the various compliances and
regulatory mandates influencing the industry. Businesses in the cognitive
computing market provide service that can aid financial institutions to
identify risks and security threats while effectively managing copious amounts
of customer data.
Segmentation of cognitive computing market by
technology comprises natural language processing, automated reasoning, machine
learning, and semantic analysis. Machine learning is anticipated to have the
highest CAGR as it is widely used across various applications of cognitive
computing and artificial intelligence. Machine learning is deployed by various
industries in their operations. For instance, in the automotive sector, machine
learning algorithms can enhance predictive maintenance capabilities that allow
diagnoses of existing or historical events to prevent vehicle failures. Natural
language processing segment in the cognitive computing market accounts for the
highest revenue during the forecast time span as it allows organizations to
better understand the requirements of the customer and can greatly aid the
e-commerce sector.
Adoption of integrated cloud platforms and the growing
application of big data analytics are the key factors promoting the domination
of North America cognitive computing market. Additionally, the high focus on
data security and cyber breach instances have led to the increase in
regulations and mandates favoring the growth of this software. Asia Pacific
cognitive computing market is anticipated to have a high CAGR during the
forecast time span owing to the growth of e-commerce sector, which relies
heavily on understanding the customer to aid in the organization’s
decision-making process.
Players operating in the cognitive computing market
include Palantir, Tibco Software, IBM, Cognitive Scale, Microsoft Corporation,
Saffron Technology, Google, ArisGlobal, Oracle Corporation, and SAP SE. In June
2017, ArisGlobal announced the launch of cloud-based ArisGlobal LifeSphere to
support an entire product lifecycle of an organization from clinical
development to the marketing and commercialization.
This latest Cognitive
Computing Market research
report offers in-depth analysis, key industry insights, market sizing &
forecast on a granular level for key products, applications across number of
regional markets. The report also analyzes the Cognitive
Computing from
business strategy perspective, describing in detail growth drivers, pitfalls
&challenges for participants, accompanied by a detailed competitive
benchmarking including company market share analysis and detailed business
profiles.
Reasons to Buy This Report
•
Global Cognitive Computing Market size & forecast by product
& application.
•
Growth drivers, pitfalls & industry challenges.
•
Key Cognitive Computing Market growth opportunities & emerging
business models.
•
Competitive benchmarking with market share analysis and company
profiles.
About Global Market
Insights
Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
Contact
Us:
Arun Hegde
Corporate Sales, USA
Global Market
Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
No comments:
Post a Comment