COGNITIVE AUTOMATION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Cognitive automation is the emerging convergence of artificial intelligence technologies that automate knowledge work using a combination of machine learning, natural language processing and other analytic techniques. It helps organizations to address pressing business challenges through streamlining operations, cutting costs, improving decision making and augmenting human capabilities. Global cognitive automation market growth is driven by increasing adoption of AI technologies across industries and growing need for enhancing productivity and optimizing business processes. Key capabilities like machine learning, natural language processing, computer vision and predictive analytics transforms routine tasks and enables automation at scale.

Market Dynamics:

Global cognitive automation market growth is driven by several factors such as growing need for business process optimization and cost reduction, increasing demand for virtual assistance and chatbots, expansion of AI capabilities including machine learning and natural language processing. Moreover, rapid advancements in cognitive computing technologies and proliferation of smart devices can also drive the market growth. However, challenges related to data security, lack of standardized processes and integration issues can hamper the market growth. Emerging opportunities include increasing investments in AI startups, rising adoption of cognitive automation in developing economies and integration of cognitive capabilities with robotic process automation.

Key features of the study:

- This report provides in-depth analysis of the global cognitive automation market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global cognitive automation market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include Accenture, Automation Anywhere, Blue Prism, Brain Corp, Cognizant, DataRobot, Google Cloud (Alphabet Inc.), IBM, Kofax, Microsoft, NICE Systems, Pegasystems, Salesforce, SAP, and UiPath

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- Global cognitive automation market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cognitive automation market

Detailed Segmentation-

•  By Component Insights (Revenue, USD Bn, 2019 - 2031)
• • Solutions
  • Services
• By Technology Insights (Revenue, USD Bn, 2019 - 2031)
• • Machine Learning
  • Natural Language Processing
  • Computer Vision
  • Robotic Process Automation
  • Others
• By End User Insights (Revenue, USD Bn, 2019 - 2031)
• • Banking, Financial Services, and Insurance (BFSI)
  • IT and Telecommunications
  • Manufacturing
  • Healthcare
  • Retail and E-commerce
  • Others

• By Regional Insights (Revenue, USD Bn 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Accenture
  • Automation Anywhere
  • Blue Prism
  • Brain Corp
  • Cognizant
  • DataRobot
  • Google Cloud (Alphabet Inc.)
  • IBM
  • Kofax
  • Microsoft
  • NICE Systems
  • Pegasystems
  • Salesforce
  • SAP
  • UiPath