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What are the factors and trends playing a role in the evolution of the Cognitive Computing Market

Author : Ronak Bora | Published Date : 2019-03-20 

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.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • Palantir
  • Tibco Software
  • IBM
  • Cognitive Scale
  • Microsoft Corporation
  • Saffron Technology
  • Google
  • ArisGlobal
  • Oracle Corporation
  • SAP SE

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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.

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.

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.

Browse Full Report: https://www.gminsights.com/industry-analysis/cognitive-computing-market

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.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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