Product Code: SR112023A5414
Market Overview:
The global cognitive computing market size reached US$ 32.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 138.8 Billion by 2028, exhibiting a growth rate (CAGR) of 25% during 2023-2028.
Cognitive computing (CC) relies on artificial intelligence (AI), machine learning (ML), natural language understanding (NLU), speech and image recognition, conversant human interface, and distributed and high-performance computing. It offers improved data collection and interpretation, troubleshooting and error detection, and enhanced customer retention to businesses. It also assists in informed and strategic decision-making, smart financial decisions, improving efficiency, and increasing cost savings. As a result, CC finds extensive applications in numerous industry verticals, such as retail, telecommunications, and banking, financial services and insurance (BFSI).
Cognitive Computing Market Trends:
The rising adoption of cutting-edge technologies in small and medium-sized enterprises (SMEs) across the globe represents one of the key factors impelling the growth of the market. Moreover, CC solutions are employed in the healthcare industry as they aid medical professionals in disease diagnosis by processing enormous data rapidly and generating customized smart recommendations. These solutions also aid in providing a better course of treatment for patients. Apart from this, they help improve the delivery of personalized health intervention programs, including lifestyle/behavioral change management. Besides this, they are increasingly being used in delivering actionable sporting tips to athletes during a game or competition and advising investment strategists on leveraging information to make decisions while buying or selling in a marketplace. In addition, they can be utilized in assessing risks in real-time, producing accurate results, and understanding human language to interact with customers and workers. CC solutions are also useful in mining structured and unstructured data and offering hypotheses and explanations for consideration by humans. This, coupled with the thriving information technology (IT) industry, is projected to drive the market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cognitive computing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, deployment type, enterprise size and industry vertical.
Breakup by Technology:
- Natural Language Processing
- Machine Learning
- Automated Reasoning
- Others
Breakup by Deployment Type:
Breakup by Enterprise Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- Healthcare
- BFSI
- Retail
- Government
- IT and Telecom
- Energy and Power
- Others
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Acuiti Group, Cisco Systems Inc., Enterra Solutions LLC, Expert .AI, e-Zest Solutions Ltd, Google LLC (Alphabet Inc.), International Business Machines Corporation, Marlabs LLC, Microsoft Corporation, Red Skios Ltd., Sas Institute Inc., Tata Consultancy Services Ltd., Vantage Labs LLC and Virtusa Corporation.
Key Questions Answered in This Report:
- What was the size of the global cognitive computing market in 2022?
- What is the expected growth rate of the global cognitive computing market during 2023-2028?
- What has been the impact of COVID-19 on the global cognitive computing market?
- What are the key factors driving the global cognitive computing market?
- What is the breakup of the global cognitive computing market based on the technology?
- What is the breakup of the global cognitive computing market based on the deployment type?
- What is the breakup of the global cognitive computing market based on enterprise size?
- What is the breakup of the global cognitive computing market based on the industry vertical?
- What are the key regions in the global cognitive computing market?
- Who are the key players/companies in the global cognitive computing market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Cognitive Computing Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Technology
- 6.1 Natural Language Processing
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Machine Learning
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Automated Reasoning
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Deployment Type
- 7.1 On-premises
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Cloud-based
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Enterprise Size
- 8.1 Small and Medium-sized Enterprises
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Large Enterprises
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Industry Vertical
- 9.1 Healthcare
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 BFSI
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Retail
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Government
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 IT and Telecom
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 Energy and Power
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
- 9.7 Others
- 9.7.1 Market Trends
- 9.7.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Acuiti Group
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 Cisco Systems Inc.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 Enterra Solutions LLC
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 Expert .AI
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.5 e-Zest Solutions Ltd
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 Google LLC (Alphabet Inc.)
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 SWOT Analysis
- 15.3.7 International Business Machines Corporation
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 Marlabs LLC
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 Microsoft Corporation
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.9.4 SWOT Analysis
- 15.3.10 Red Skios Ltd.
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.11 Sas Institute Inc.
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.11.3 SWOT Analysis
- 15.3.12 Tata Consultancy Services Ltd.
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.12.3 Financials
- 15.3.12.4 SWOT Analysis
- 15.3.13 Vantage Labs LLC
- 15.3.13.1 Company Overview
- 15.3.13.2 Product Portfolio
- 15.3.14 Virtusa Corporation
- 15.3.14.1 Company Overview
- 15.3.14.2 Product Portfolio
- 15.3.14.3 SWOT Analysis