Cognitive computing encompasses cutting-edge hardware and software designed to emulate human functions, enhancing decision-making processes. It serves as a technology platform, rooted in signal processing and artificial intelligence, offering Natural Language Processing (NLP), reasoning, speech recognition, vision, machine learning, and human-computer interaction capabilities. In essence, cognitive computing aims to replicate human thought processes within computerized models, creating automated IT systems capable of problem-solving without human intervention. This innovative approach enables cognitive computing to derive knowledge from both structured and unstructured data sources. As a result, organizations are increasingly adopting cognitive technology, driven by recent advancements in digital technology, to improve operational efficiency, enable smarter decision-making, and gain a competitive edge in the dynamic business landscape.

Market Dynamics

The global cognitive computing market is experiencing significant growth primarily due to higher adoption rates and an increasing volume of unstructured and complex data. Advancements in cognitive computing, including cloud, mobile, and data analytics, are driving the market demand. Cognitive computing leverages machine learning algorithms to acquire data from unstructured sources, such as images, audio files, videos, and texts, meeting the rising demand for big data analytics. Cloud-based applications are favored in cognitive computing for their memory efficiency, flexibility, and cost-effectiveness. As more organizations migrate critical business systems to cloud platforms, the demand for cognitive cloud platforms is expected to surge, leading to a broader range of cognitive computing applications. This shift towards cloud-based solutions is projected to propel the market growth over the forecast period.

Key features of the study:

• This report provides an in-depth analysis of the global cognitive computing market size (US$ Billion) and Compound Annual Growth Rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue growth 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 approvals, regional outlook, and competitive strategies adopted by the leading market players
• It profiles leading players in the global cognitive computing market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
• Companies covered as a part of this study are Accenture Inc., SparkCognition Inc., Cisco Systems, Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Google Inc., Microsoft Corporation, Narrative Science Inc., Flatiron Health, Inc., and Digital Reasoning Systems, Inc.
• Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
• The global cognitive computing market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cognitive computing market

Detailed Segmentation

• Global Cognitive Computing Market, By Deployment Type
  • On-premise Software
  • Cloud-based Software
• Global Cognitive Computing Market, By End user
  • Small Scale Enterprises
  • Large Scale Enterprises
  • Public Sector
• Global Cognitive Computing Market, By Application
  • Diagnostic APIs
  • Robots
  • Cyber Security
  • Farm Mechanization
  • eLearning
  • Supply Chain management
  • Social Media Monitoring
  • Self-driving Cars
  • Gaming
  • Video
  • IT Infrastructure Management
  • Others
• Global Cognitive Computing Market, By Industry
  • Healthcare
  • BFSI
  • IT & Telecom
  • Energy & Utilities
  • Agriculture
  • Retail
  • Aerospace & Defense
  • Government
  • Transportation
  • Media & Entertainment
  • Education
  • Others (HR, Marketing & PR, etc.)
• Global Cognitive Computing Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles
  • Accenture Inc.
  • SparkCognition Inc.
  • Cisco Systems, Inc.
  • Hewlett Packard Enterprise Development LP,
  • IBM Corporation
  • Google Inc.
  • Microsoft Corporation
  • Narrative Science Inc.
  • Flatiron Health, Inc.
  • Digital Reasoning Systems, Inc.