Cognitive Computing Market To Reach USD 475.24 Billion By 2026
Market Summary: Increasing demand for cognitive computing in the cloud deployment mode coupled with high investments in R&D of cognitive computing are fueling the market growth. Market Size – USD 36.45 Billion in 2018, Market Growth - CAGR of 37.7%, Market Trends – Increase in demand for cognitive computing in healthcare end-use verticals. The global cognitive computing market is forecast to reach USD 475.24 Billion by 2026, according to a new report by Reports and Data. The cognitive computing technology derives the answers and works like the human brains. Literally, the computerized models adapt algorithms that self-learn and utilize machine learning models to mimic the way the human brain works. The models formed by cognitive computing, provide a real-life roadmap for artificial intelligence and machine learning and eventually facilitate the automated systems, which would work without human assistance. Further key findings from the report suggest • The segment is expected to reach a market share of 27.9% by 2026, having grown with a CAGR of 39.2% during the forecast period. • Customer care segment had a market valuation of USD 6.82 Billion in 2018. • North America is leading the global market, with 39.4% of market possession in 2018 and would continue dominating with a CAGR of 38.3% during the forecast period. www.reportsanddata.com
Key participants: Microsoft, IBM, Google, Saffron Technology, Enterra Solutions, Numenta, HP, Oracle Corporation, CognitiveScale, Inc., and Vicarious. Segmentation: • End-Users Outlook (Revenue: USD Billion; 2016-2026), Large Enterprises, SMEs • Technology Outlook (Revenue: USD Billion; 2016-2026), Machine Learning (ML), Natural Language Processing (NLP), Neural Networks, Deep Learning, Reasoning Analysis, Others • Deployment Mode Outlook (Revenue: USD Billion; 2016-2026), Cloud, On-Premise • End-Use Verticals Outlook (Revenue: USD Billion; 2016-2026), Healthcare, BFSI, Customer Care, Industrial Sector, Travel & Tourism, IT & Telecom Service, Education & Research, Others www.reportsanddata.com
Regional Outlook for Cognitive Computing Market analyzes the following geographies • North America (United States, Canada, and Mexico) • Europe (Germany, France, UK, Russia, and Italy) • Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) • South America (Brazil, Argentina, Colombia, etc.) • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa
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The report emphasizes the following key questions: • Q.1. What are the most lucrative and promising growth prospects for the market? • Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement? • Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes? • Q.4. Which factors are impacting the future of the market and what are the driving factors? • Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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