Global Cognitive Computing Market: Overview
Cognitive computing is a technology platform based on the scientific premises of signal processing and artificial intelligence. It refers to replicating the human thought process in a computerized model. Cognitive computing also comprises self-learning systems that use pattern recognition, natural language processing, and data mining to mimic the way in which a human brain works.
Cognitive computing processes are expected to emerge as next-generation systems as artificial intelligence slowly becomes a mainstream technology. The application of cognitive computing processes is therefore touted as the next-generation systems. Their application has increased in continually acquiring information based on data fed into them, subsequently processing the complex information. These systems are therefore marketed as a means to help companies make better decisions by deciphering complex and unstructured data.
As business leaders focus more on their return on investment, the global cognitive computing market is expected to gain a major boost. According to industry experts, cognitive computing and artificial intelligence are expected to emerge as the biggest trends to look out for in 2016. The report has been compiled to present key insights into various trends encouraging the rise of the global cognitive computing market. It examines the influence of various growth drivers and restraints on the market to present a refined outlook for its growth.
Global Cognitive Computing Market: Opportunities and Threats
According to experts, over time, various cognitive computing technologies will be built to provide customized IT solutions. The technology is expected to provide human-designed systems and imbue into them a “thinking ability,” helping organizations to accomplish tasks that they were unable to before.
The advances in various enabling technologies, increasingly complex datasets, and the advent of third computing platforms such as cloud, mobile, analytics, big data, and social network are expected to drive the global cognitive computing market. However, challenges such as the lack of knowledge about enabling technologies and the impact of new technologies on business applications will threaten the market’s growth.
Big data is increasing in volume at a rapid pace owing to the massive digitization of business operations worldwide. A major chunk of information received by businesses is in the form of unstructured data such as images, videos, podcasts, natural language, and symbols. This in turn necessitates the implementation of a cognitive model to collate data and provide structured output.
Retail, healthcare, BFSI, and security industries constitute the major application segments of cognitive computing. Among these, the market is expected to witness increasing demand from the healthcare sector. Recent developments in medical imaging technologies that incorporate cognitive analytics to help healthcare workers analyze mammogram images will also augment demand for cognitive computing from the healthcare sector.
Global Cognitive Computing Market: Regional Outlook
Regionally, North America held the largest share of the market in 2014, followed by Europe. The market is also expected to see attractive opportunities in Asia Pacific. The increasing adoption of cloud-based services in the region, especially across small and medium-scale companies will translate into increasing demand for cognitive computing from Asia Pacific.
Global Cognitive Computing Market: Competitive Insight
To study the prevailing competition in the market, the report has also profiled companies such as Microsoft Corporation, IBM Corporation, Nuance Communications Inc, Google Incorporation, 3M, Statistical Analysis System (SAS), Tibco Software, Hewlett Packard (HP), SAP, and Oracle Corporation. Using industry-leading analytical tools, the report weighs out the strengths and weaknesses of these companies. The latest strategies adopted by them and their product portfolios are also studied in the report in detail.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.