Cognitive Computing Market - Forecast(2024 - 2030)

Report Code: ITR 42178 Report Format: PDF + Excel

Overview

Cognitive Computing Market size is forecast to reach $58.28 billion by 2025, after growing at a CAGR of 27.5% during 2020-2025. The increasing incorporation of artificial intelligence and Internet of Things between software and hardware platform and also the need for big data analytics are driving the need for cognitive business. Furthermore, the deployment of innovative hardware and software systems and cloud-based technological advancements along with machine learning and cognitive analytics are further providing opportunities for the cognitive computing market during the forecast period.

Report Coverage

The report: “Cognitive Computing Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Cognitive Computing Market.

Key Takeaways

  • North America dominates the cognitive computing market owing to increasing advancements in the IT sector and the presence of giants such as IBM, Microsoft and Google.
  • The increasing collaboration of machine learning with artificial intelligence and IoT is fueling the growth of the cognitive computing industry.
  • The rising demand for pattern recognition, facial recognition, fraud detection and the analysis of big data analytics in a complex environment is leading to drive the cognitive computing market.
  • However, the rising risk of security breach due to the use of more connected devices is leading to hinder the adoption of cognitive computing market.  

Type of Technology - Segment Analysis

The Natural Language Processing (NLP) segment holds the largest share in the cognitive computing market in 2019.  The deployment in technology has led NLP to play a significant role in facilitating text analytics and is also significantly contributing to the upgradation of progressive speech and text which will accelerate in the coming years. The significant demand for natural language processing in applications such as intelligent chatbots, speech-to-text and semantic search will further propagate the cognitive computing market. This technology will also mold the communication capacity of cognitive computing. Furthermore, NLP will also continue to gain growth in the future due to the integration with the AI system.  

Additionally, the development in the machine learning technology is also enhancing the cognitive computing market. The machine learning technology is growing at a rapid pace, owing to the increasing applications based on machine learning such as automobile, agriculture, legal and healthcare. Moreover, the recent advancement in technology has led machine learning to use AI for root cause analysis and automatic detection of problems by machines. Also, the addition of AI and IoT has further led to the rise of machine learning technology which will further drive the cognitive computing market.

End-user - Segment Analysis

The IT & Telecommunication sector holds the largest market share for cognitive computing market and is growing at a CAGR of 17.25%. The rising technological advancements such as the integration of machine learning, artificial intelligence, IoT and so on are highly enhancing the IT sector which is further leading to the rise of cognitive computing. The development of smart and automated solutions and applications are also driving the cognitive computing market. The innovations in the business models has led to the emergence of machine learning technology, as it is integrated with AI-based technologies that transforms business processes. Furthermore, the IT solutions provider companies such as BMC Software Inc. has recently introduced Helix Cognitive Service Management (CSM) for integrating cognitive technologies such as AI and ML into traditional IT service management. In addition, the growing adoption of AI-based technology along with NLP and ML in IT sector will anticipate the growth of the cognitive computing market.

Geography - Segment Analysis

North America dominates the cognitive computing market with a share of more than 28.5%, followed by APAC and Europe. The presence of major companies such as        IBM, Microsoft and Google are significantly embracing the development new technologies and are leading in the field of cognitive computing. Moreover, the increasing developments in the healthcare sector in the U.S with rising adoption of NLP technology is further driving the growth of the cognitive computing in this region. Also, the disruption of technology in retail sector is also enormously driving the need for cognitive computing in the North America.  The retailers in the U.S are significantly accessing to more operational data for conducting sophisticated analytics and tap into artificial intelligence (AI), which will further manage the supply-chain management. This rising shift of retail sector towards AI will propel the cognitive computing market in the U.S.

Drivers – Cognitive Computing Market

·         Integration of NLP & Machine Learning with AI

The integration of natural language processing and machine learning with artificial intelligence is adopted rapidly in various applications including retail, healthcare and so on. The combination of these technologies enhances the current level of efficiency by quickening decision making. The abrupt use of these technologies accelerate the level of performance by capturing information from real-world. The immersive use of machine learning and NLP also enables the deep learning of any patient’s data in the healthcare sector. This current adoption of artificial intelligence for solving big data analytics problems and the rise of digital transformation in various fields will drive the cognitive computing market.

·         Advancements of Computing platforms

The advancements in the computing platforms such as cloud, big data analytics, mobile and so on is set to drive the cognitive computing market. The adoption of cloud-based technology in the IT industry has led to the continuous development of the business processes. Also, the popularity of mobile devices such as smartphones and laptops pose a major impact on the adoption of cloud computing. Furthermore, the increasing shift towards big data analytics for handling traditional data warehouses is also enhancing the cognitive computing market. Additionally, emerging technologies such as DataOps, Data storytelling and visualization and augmented analytics will further provide growing opportunities for cognitive computing market.

Challenges – Cognitive Computing Market

·         The rising concern related to Security

The shift towards innovative technologies by various industries will also led to increasing formation of complex data that rises the risks related to security. The connection of more connected devices leads to issues related to security breach. This significant arising of security challenge lead to rising concern about the data security and encryption which further hampers the adoption of cognitive computing market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the cognitive computing market. In 2019, the market of cognitive computing has been consolidated by the top ten players - Google Inc., Hewlett-Packard Development Company, International Business Machine Corporation, Microsoft Corporation, Nuance Communications, Inc., Oracle Corporation, SAP SE, TIBCO Software Inc., SAS Institute Inc. and Saffron Technology, Inc.

Acquisitions/Technology Launches

Ø  In September 2019, Schlumberger, Chevron and Microsoft announced their collaboration for accelerating digital technologies. This collaboration will be performed in three phases that includes the deployment of the Petrotechnical Suite in the DELFI environment, secondly the development of cloud-native applications on Azure, and the co-innovation of a suite for cognitive computing native capabilities.

Ø  In May 2019, Microsoft Corporation announced a series of new Azure cognitive services and developer technologies. This series of services will lead to the spanning of AI, mixed reality, IoT and blockchain which will further provide additional advancement in hybrid cloud and edge computing.


1. Cognitive Computing Market - Overview
        1.1 Definitions and Scope
2. Cognitive Computing Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Cognitive Computing Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Cognitive Computing Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Cognitive Computing Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Cognitive Computing Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Cognitive Computing Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Cognitive Computing Market - By Technology (Market Size -$Million / $Billion)
8.1 Natural Language Processing
8.2 Machine Learning
8.3 Automated Reasoning
9. Cognitive Computing Market - By End User (Market Size -$Million / $Billion)
9.1 Large Enterprise
9.2 Small And Medium Business
10. Cognitive Computing - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
            10.3.1 Healthcare
            10.3.2 Bfsi
            10.3.3 Retail
            10.3.4 Government
            10.3.5 It Telecom
            10.3.6 Security
11. Cognitive Computing Market - By Deployment Type (Market Size -$Million / $Billion)
11.1 Cloud Based Service
11.2 On-Premises Software
12. Cognitive Computing- By Geography (Market Size -$Million / $Billion)
        12.1 Cognitive Computing Market - North America Segment Research
        12.2 North America Market Research (Million / $Billion)
            12.2.1 Segment type Size and Market Size Analysis
            12.2.2 Revenue and Trends
            12.2.3 Application Revenue and Trends by type of Application
            12.2.4 Company Revenue and Product Analysis
            12.2.5 North America Product type and Application Market Size
                  12.2.5.1 U.S
                  12.2.5.2 Canada
                  12.2.5.3 Mexico
                  12.2.5.4 Rest of North America
        12.3 Cognitive Computing- South America Segment Research
        12.4 South America Market Research (Market Size -$Million / $Billion)
            12.4.1 Segment type Size and Market Size Analysis
            12.4.2 Revenue and Trends
            12.4.3 Application Revenue and Trends by type of Application
            12.4.4 Company Revenue and Product Analysis
            12.4.5 South America Product type and Application Market Size
                  12.4.5.1 Brazil
                  12.4.5.2 Venezuela
                  12.4.5.3 Argentina
                  12.4.5.4 Ecuador
                  12.4.5.5 Peru
                  12.4.5.6 Colombia
                  12.4.5.7 Costa Rica
                  12.4.5.8 Rest of South America
        12.5 Cognitive Computing- Europe Segment Research
        12.6 Europe Market Research (Market Size -$Million / $Billion)
            12.6.1 Segment type Size and Market Size Analysis
            12.6.2 Revenue and Trends
            12.6.3 Application Revenue and Trends by type of Application
            12.6.4 Company Revenue and Product Analysis
            12.6.5 Europe Segment Product type and Application Market Size
                  12.6.5.1 U.K
                  12.6.5.2 Germany
                  12.6.5.3 Italy
                  12.6.5.4 France
                  12.6.5.5 Netherlands
                  12.6.5.6 Belgium
                  12.6.5.7 Denmark
                  12.6.5.8 Spain
                  12.6.5.9 Rest of Europe
        12.7 Cognitive Computing - APAC Segment Research
        12.8 APAC Market Research (Market Size -$Million / $Billion)
            12.8.1 Segment type Size and Market Size Analysis
            12.8.2 Revenue and Trends
            12.8.3 Application Revenue and Trends by type of Application
            12.8.4 Company Revenue and Product Analysis
            12.8.5 APAC Segment - Product type and Application Market Size
                  12.8.5.1 China
                  12.8.5.2 Australia
                  12.8.5.3 Japan
                  12.8.5.4 South Korea
                  12.8.5.5 India
                  12.8.5.6 Taiwan
                  12.8.5.7 Malaysia
                  12.8.5.8 Hong kong
                  12.8.5.9 Rest of APAC
        12.9 Cognitive Computing - Middle East Segment and Africa Segment Research
        12.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            12.10.1 Segment type Size and Market Size Analysis
            12.10.2 Revenue and Trend Analysis
            12.10.3 Application Revenue and Trends by type of Application
            12.10.4 Company Revenue and Product Analysis
            12.10.5 Middle East Segment Product type and Application Market Size
                  12.10.5.1 Israel
                  12.10.5.2 Saudi Arabia
                  12.10.5.3 UAE
            12.10.6 Africa Segment Analysis
                  12.10.6.1 South Africa
                  12.10.6.2 Rest of Middle East & Africa
13. Cognitive Computing Market - Entropy
        13.1 New product launches
        13.2 M&A s, collaborations, JVs and partnerships
14. Cognitive Computing Market - Industry / Segment Competition landscape Premium
        14.1 Market Share Analysis
            14.1.1 Market Share by Country- Top companies
            14.1.2 Market Share by Region- Top 10 companies
            14.1.3 Market Share by type of Application - Top 10 companies
            14.1.4 Market Share by type of Product / Product category- Top 10 companies
            14.1.5 Market Share at global level - Top 10 companies
            14.1.6 Best Practises for companies
15. Cognitive Computing Market - Key Company List by Country Premium
16. Cognitive Computing Market Company Analysis
        16.1 Market Share, Company Revenue, Products, M&A, Developments
        16.2 3M Company
        16.3 Google Inc
        16.4 Hewlett-Packard Development Company, L P
        16.5 International Business Machine Corporation
        16.6 Microsoft Corporation
        16.7 Nuance Communications, Inc
        16.8 Oracle Corporation
        16.9 Sa Institute Inc
        16.10 Sap
        16.11 Tibco Software, Inc
        16.12 Company 12
        16.13 Company 13 & More
*Financials would be provided on a best efforts basis for private companies
17. Cognitive Computing Market - Appendix
        17.1 Abbreviations
        17.2 Sources
18. Cognitive Computing Market - Methodology
        18.1 Research Methodology
            18.1.1 Company Expert Interviews
            18.1.2 Industry Databases
            18.1.3 Associations
            18.1.4 Company News
            18.1.5 Company Annual Reports
            18.1.6 Application Trends
            18.1.7 New Products and Product database
            18.1.8 Company Transcripts
            18.1.9 R&D Trends
            18.1.10 Key Opinion Leaders Interviews
            18.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Global Cognitive Computing Market By Technology Market 2023-2030 ($M)
1.1 Natural Language Processing Market 2023-2030 ($M) - Global Industry Research
1.1.1 Competitive Scenario Market 2023-2030 ($M)
1.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
1.2 Machine Learning Market 2023-2030 ($M) - Global Industry Research
1.3 Automated Reasoning Market 2023-2030 ($M) - Global Industry Research
2.Global Global Cognitive Computing Market By End User Market 2023-2030 ($M)
2.1 Large Enterprise Market 2023-2030 ($M) - Global Industry Research
2.2 Small And Medium Business Market 2023-2030 ($M) - Global Industry Research
3.Global Global Cognitive Computing Market By Deployment Type Market 2023-2030 ($M)
3.1 Cloud Based Service Market 2023-2030 ($M) - Global Industry Research
3.2 On-Premises Software Market 2023-2030 ($M) - Global Industry Research
4.Global Global Cognitive Computing Market By Technology Market 2023-2030 (Volume/Units)
4.1 Natural Language Processing Market 2023-2030 (Volume/Units) - Global Industry Research
4.1.1 Competitive Scenario Market 2023-2030 (Volume/Units)
4.1.2 Key Growth Factor And Opportunity Market 2023-2030 (Volume/Units)
4.2 Machine Learning Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Automated Reasoning Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global Global Cognitive Computing Market By End User Market 2023-2030 (Volume/Units)
5.1 Large Enterprise Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Small And Medium Business Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Global Cognitive Computing Market By Deployment Type Market 2023-2030 (Volume/Units)
6.1 Cloud Based Service Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 On-Premises Software Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Global Cognitive Computing Market By Technology Market 2023-2030 ($M)
7.1 Natural Language Processing Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Competitive Scenario Market 2023-2030 ($M)
7.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
7.2 Machine Learning Market 2023-2030 ($M) - Regional Industry Research
7.3 Automated Reasoning Market 2023-2030 ($M) - Regional Industry Research
8.North America Global Cognitive Computing Market By End User Market 2023-2030 ($M)
8.1 Large Enterprise Market 2023-2030 ($M) - Regional Industry Research
8.2 Small And Medium Business Market 2023-2030 ($M) - Regional Industry Research
9.North America Global Cognitive Computing Market By Deployment Type Market 2023-2030 ($M)
9.1 Cloud Based Service Market 2023-2030 ($M) - Regional Industry Research
9.2 On-Premises Software Market 2023-2030 ($M) - Regional Industry Research
10.South America Global Cognitive Computing Market By Technology Market 2023-2030 ($M)
10.1 Natural Language Processing Market 2023-2030 ($M) - Regional Industry Research
10.1.1 Competitive Scenario Market 2023-2030 ($M)
10.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
10.2 Machine Learning Market 2023-2030 ($M) - Regional Industry Research
10.3 Automated Reasoning Market 2023-2030 ($M) - Regional Industry Research
11.South America Global Cognitive Computing Market By End User Market 2023-2030 ($M)
11.1 Large Enterprise Market 2023-2030 ($M) - Regional Industry Research
11.2 Small And Medium Business Market 2023-2030 ($M) - Regional Industry Research
12.South America Global Cognitive Computing Market By Deployment Type Market 2023-2030 ($M)
12.1 Cloud Based Service Market 2023-2030 ($M) - Regional Industry Research
12.2 On-Premises Software Market 2023-2030 ($M) - Regional Industry Research
13.Europe Global Cognitive Computing Market By Technology Market 2023-2030 ($M)
13.1 Natural Language Processing Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Competitive Scenario Market 2023-2030 ($M)
13.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
13.2 Machine Learning Market 2023-2030 ($M) - Regional Industry Research
13.3 Automated Reasoning Market 2023-2030 ($M) - Regional Industry Research
14.Europe Global Cognitive Computing Market By End User Market 2023-2030 ($M)
14.1 Large Enterprise Market 2023-2030 ($M) - Regional Industry Research
14.2 Small And Medium Business Market 2023-2030 ($M) - Regional Industry Research
15.Europe Global Cognitive Computing Market By Deployment Type Market 2023-2030 ($M)
15.1 Cloud Based Service Market 2023-2030 ($M) - Regional Industry Research
15.2 On-Premises Software Market 2023-2030 ($M) - Regional Industry Research
16.APAC Global Cognitive Computing Market By Technology Market 2023-2030 ($M)
16.1 Natural Language Processing Market 2023-2030 ($M) - Regional Industry Research
16.1.1 Competitive Scenario Market 2023-2030 ($M)
16.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
16.2 Machine Learning Market 2023-2030 ($M) - Regional Industry Research
16.3 Automated Reasoning Market 2023-2030 ($M) - Regional Industry Research
17.APAC Global Cognitive Computing Market By End User Market 2023-2030 ($M)
17.1 Large Enterprise Market 2023-2030 ($M) - Regional Industry Research
17.2 Small And Medium Business Market 2023-2030 ($M) - Regional Industry Research
18.APAC Global Cognitive Computing Market By Deployment Type Market 2023-2030 ($M)
18.1 Cloud Based Service Market 2023-2030 ($M) - Regional Industry Research
18.2 On-Premises Software Market 2023-2030 ($M) - Regional Industry Research
19.MENA Global Cognitive Computing Market By Technology Market 2023-2030 ($M)
19.1 Natural Language Processing Market 2023-2030 ($M) - Regional Industry Research
19.1.1 Competitive Scenario Market 2023-2030 ($M)
19.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
19.2 Machine Learning Market 2023-2030 ($M) - Regional Industry Research
19.3 Automated Reasoning Market 2023-2030 ($M) - Regional Industry Research
20.MENA Global Cognitive Computing Market By End User Market 2023-2030 ($M)
20.1 Large Enterprise Market 2023-2030 ($M) - Regional Industry Research
20.2 Small And Medium Business Market 2023-2030 ($M) - Regional Industry Research
21.MENA Global Cognitive Computing Market By Deployment Type Market 2023-2030 ($M)
21.1 Cloud Based Service Market 2023-2030 ($M) - Regional Industry Research
21.2 On-Premises Software Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Cognitive Computing Market Revenue, 2023-2030 ($M)
2.Canada Cognitive Computing Market Revenue, 2023-2030 ($M)
3.Mexico Cognitive Computing Market Revenue, 2023-2030 ($M)
4.Brazil Cognitive Computing Market Revenue, 2023-2030 ($M)
5.Argentina Cognitive Computing Market Revenue, 2023-2030 ($M)
6.Peru Cognitive Computing Market Revenue, 2023-2030 ($M)
7.Colombia Cognitive Computing Market Revenue, 2023-2030 ($M)
8.Chile Cognitive Computing Market Revenue, 2023-2030 ($M)
9.Rest of South America Cognitive Computing Market Revenue, 2023-2030 ($M)
10.UK Cognitive Computing Market Revenue, 2023-2030 ($M)
11.Germany Cognitive Computing Market Revenue, 2023-2030 ($M)
12.France Cognitive Computing Market Revenue, 2023-2030 ($M)
13.Italy Cognitive Computing Market Revenue, 2023-2030 ($M)
14.Spain Cognitive Computing Market Revenue, 2023-2030 ($M)
15.Rest of Europe Cognitive Computing Market Revenue, 2023-2030 ($M)
16.China Cognitive Computing Market Revenue, 2023-2030 ($M)
17.India Cognitive Computing Market Revenue, 2023-2030 ($M)
18.Japan Cognitive Computing Market Revenue, 2023-2030 ($M)
19.South Korea Cognitive Computing Market Revenue, 2023-2030 ($M)
20.South Africa Cognitive Computing Market Revenue, 2023-2030 ($M)
21.North America Cognitive Computing By Application
22.South America Cognitive Computing By Application
23.Europe Cognitive Computing By Application
24.APAC Cognitive Computing By Application
25.MENA Cognitive Computing By Application
26.International Business Machine Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Google Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Microsoft Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Nuance Communications, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.3M Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Hewlett-Packard Development Company, L P, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Sa Institute Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Sap, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Tibco Software, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Oracle Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)