Cognitive Computing Market by Size, Share & Growth Strategies – 2025 | MarketsandMarkets

[204 Pages Report] To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)

Posted on 2021-01-13 by MarketsandMarkets in Technology // 0 Comments

According to a research report “Cognitive Computing Market by Component, Deployment Mode, Business Function, Application (IVA and Chatbot and Behavioral Analysis), Technology (Human Computer Interface and Deep Learning), Industry Vertical, and Region – Global Forecast to 2025″, is expected to grow from USD 20.5 billion in 2020 to USD 77.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 30.5% during the forecast period. The major growth factors of the cognitive computing market include the increasing adoption of digitization and automation across various industry verticals. The increasing demand for intelligent business processes to enhance decision-making, the benefit of cost-effectiveness offered by cognitive solutions, and fulfilling the enterprise need to adopt advanced cognitive abilities to reduce operational costs.

Browse 137 market data Tables and 43 Figures spread through 207 Pages and in-depth TOC on “Cognitive Computing Market – Global Forecast to 2025″

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North America to hold the largest market size during the forecast period

North America is the most significant revenue contributor to the global cognitive computing market. The region is witnessing significant developments in the cognitive computing market. Factors that contribute to the growth of cognitive computing market in North America are rising development of various technologies in the region and the growth of various cognitive computing players in the market. Companies of all sizes are facing pressure of managing huge volumes of data. The enterprises are concentrating on integrating AI and ML capabilities through cognitive computing solutions on cloud. The cognitive computing market is expected to grow tremendously during the forecast period due to the increasing dependency on Internet of Things (IoT) devices which can easily track and analyze huge volumes of data for making strategic business decisions. Major North American vendors in the cognitive computing market are Microsoft (US), Google (US), IBM (US), Numenta (US), SAS Institute (US), AWS (US), Enterra Solutions (US), CognitiveScale (US), SparkCognition (US), Expert System (US), Cisco (US), Virtusa (US), Vantage Labs US) and BurstIQ (US).

Market Players

The report includes the study of the key players offering Cognitive Computing Solutions And Services. The major vendors Microsoft (US), Google (US), IBM (US), Numenta (US), SAS Institute (US), AWS (US), Enterra Solutions (US), CognitiveScale (US), SparkCognition (US), TCS (India), Expert System (US), Cisco (US), Virtusa (US), Cognitive Software Group (Australia), Red Skios (Spain), Artificial Solutions (Sweden), Acuiti (Australia), Vantage Labs (US), E-Zest (India) and Burstiq (US). It also includes an in-depth competitive analysis of the key players in the cognitive computing market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.

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Google (US) a publicly held company, was founded in 1988 and is headquartered in California, US. Its product innovations have made the company’s services widely used, and the company is one of the most recognized brands in the world. Google’s core products and platforms include Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search, and YouTube, and each of them has over 1 billion active users every month. The company heavily invests in platforms, such as the Android mobile Operating System (OS), Chrome browser, Chrome OS, and Daydream Virtual Reality (VR) platforms. The main source of the company’s revenue is cost-effective online advertising. It operates through 70 offices in more than 50 countries worldwide. As of December 2018, the company had 98,771 employees. Google expanded its roots in the eCommerce and cognitive computing industry.

Microsoft (US) was founded in 1975 and is headquartered in Washington, US. It is a prominent leader across the globe, and provides software products and diverse licensing suites. The company develops and supports software, services, devices, and solutions. Its product offerings include OS, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. The company also designs, manufactures, and sells devices, such as Personal Computers (PCs), tablets, gaming and entertainment consoles, other intelligent devices, and related accessories. It offers a range of services, which includes solution support, consulting services, and cloud-based solutions that provide customers with software, services, platforms, and content. The company also offers online advertising. It is a global leader in building analytics platforms and provides production services for the Artificial Intelligence (AI)-infused intelligent cloud. It generates revenue by licensing and supporting a range of software products.

IBM (US) was founded in 1911 and is headquartered in New York, US. The company’s major operating sector consists of five business segments: cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. The company has a broad and robust product portfolio and majorly focuses on improving the product efficiency of analytics, cloud, cognitive, commerce, Internet of Things (IoT), industry solutions, systems, mobile, security, social, and Watson technologies. In the cognitive computing market, the company offers IBM Watson cognitive computing system. IBM Watson leverages deep content analysis and evidence-based reasoning to accelerate and improve decisions, reduce cost, and optimize outcomes. It is a pioneer company in providing cognitive computing solution across organizations of all sizes and in all verticals. The company is providing services of IBM Watson through its various channel partners.

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