Global Cognitive Computing Market

The GMI Research projects that the Cognitive Computing Market size will expand at a healthy rate of 29.4% over the coming years. This is because of the increasing adoption big data analytics, and the development of the machine-to-machine technologies.

Request for a FREE Sample Report on Cognitive Computing Market

Cognitive Computing Market Dynamics

The accelerating number of complicated and extensive datasets, aggravating demand for smart business procedures, ongoing development in the computing environment, as well as the growing customer participation via social media platforms has amplified the cognitive computing market growth. In addition, the rising emphasis on unrestrained interaction with customers has stimulated the market demand. Also, cognitive computing merges structured and unstructured data to offer powerful tools to interpret and handle supported customer interactions in real-time. Therefore, businesses acquire a powerful perception about customer's thinking as they can discover the offering that befits them and presents high-quality loyalty and involvement towards the brand. For instance, Macy's Inc, the department store retailer across the U.S., introduced a cognitive mobile web tool called Macy's On Call to help shoppers discover items and improve the in-store experience.

Deployment Segment Drivers

Based on deployment, hybrid is forecasted to capture the highest market share over the forecast period. This is because of its feature to mechanize the maintenance procedure of equipment and maximize profits. Further, the cognitive computing market research projects that the businesses are acquiring hybrid solutions to help them overpower the shortcomings concerned with conventional IT methodologies by offering cost efficiency, adjustability, swiftness, scalability, and convenience in data creation.

Regional Drivers

Based on the regional coverage, North America is contemplated to perceive a faster rate over the coming years. This is because of the amplified implementation of the internet and the rising acquisition of cognitive computing technology by start-ups. Moreover, technologies such as 5G and the internet of things supplemented the Cognitive Computing Market Share. Furthermore, Asia-Pacific is projected to expand at a faster growth rate over the coming years owing to the deployment of cloud-based services in SMEs.

Cognitive Computing Market Segmentation:

Segmentation by Component
  • Platform
  • Service
  • Managed Services
  • Professional Services
Segmentation by Business Function
  • Human Resource
  • Operation
  • Finance
  • Marketing and Sales
  • Others
Segmentation by Technology
  • Machine Learning (ML)
  • Human Computer Interaction
  • Computer Vision
  • Machine Vision
  • Robotics
  • Natural Language Processing (NLP)
  • Deep Learning
  • Prescriptive and Predictive Modeling
  • Decision Making
Segmentation by Application
  • Automation
  • Intelligent Virtual Assistants
  • Behavioural Analysis
  • Biometrics
  • Others (eLearning and smart education and eTherapy)
Segmentation by Deployment Mode
  • On-premise
  • Cloud
  • Hybrid
Segmentation by Organization Size
  • Large Enterprises
  • Small and Medium-Sized Enterprises (SMEs)
Segmentation by Industry Vertical
  • BFSI
  • Retail and eCommerce
  • Telecommunication and IT
  • Healthcare and Life Sciences
  • Manufacturing
  • Government and Defense
  • Media and Entertainment
  • Travel and Hospitality
  • Others (Energy and Utilities, Transportation and Logistics, and Education)
Segmentation by Region:
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • RoW
    • UAE
    • Brazil
    • South Africa
    • Saudi Arabia

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland

For More Info:

Mobile Payment Market

Big Data Market

Business Process Management as a Service Market

Post Production Market