Report Description

The global cognitive computing market is predicted to proliferate during the upcoming years owing to the growing adoption of customer service activities among numerous enterprises to decrease operating costs. Cognitive computing is a technology based on the principles of Artificial Intelligence (AI), signal processing, machine learning, and natural language processing. It helps add intelligence similar to that of a human being to various business applications that use big data. A well-known cognitive computing technique is primarily designed for processing and analyzing huge, unstructured collections. Cognitive computing is considered the next-generation technology that helps understand the complexity of unstructured data with the help of human data and helps experts make better decisions. Technologies, including natural language processing (NLP), automated reasoning, machine learning, and information retrieval, are used to translate unstructured data into a sense, inference, and prediction of the optimum solution.

The market's growth is primarily attributed to the increasing penetration of artificial intelligence, machine learning, neural networks, and integrated cloud platforms across industrial applications. Moreover, other factors driving the market include an increase in the adoption of big data analytics, the development of machine-to-machine technologies, and a rise in demand for better customer experience. Additionally, a large dataset deployment across numerous sectors is a critical trend in the cloud computing industry. This dataset includes massive amounts of information and traditional data analysis methods incompatible with processing information. Thus, organizations all over the world are focusing on the use of cognitive systems.

The growth in the demand for cognitive systems in large organizations is attributed to cloud-based services, which is anticipated to grow in small & medium-sized firms. The demand for cloud-based services in the market increases as cloud-based deployment decreases the cost of implementing cognitive computing within the organization. IBM Watson, a major player in the market for cognitive computing, is planning to launch Watson Analytics in the upcoming years. This cloud-based service is expected to accelerate the adoption of cognitive computing through the cloud. In developed countries, the demand for cognitive computing is increasing rapidly and is expected to proliferate during the forecast period. Furthermore, increasing technological advancements in artificial intelligence and machine learning have improved computing technology, which is predicted to become an emerging technology during the forecast period.

Increasing demand for computing in Retail Industry is Fueling the Market Growth

Cognitive computing trends in the retail industry have entered as a game-changer. It helps the marketing team to gather more data and then analyze it to make retailers more efficient and adaptive. Cognitive computing trends guide companies to make more profit and offer personalized suggestions to customers. Cognitive computing trends have brought countless advancements to the industry. With demand forecasting, price optimization, and website design, cognitive computing has given retailers the tools to build more agile businesses.

Growing usage of Computing for Banking & Finance is Driving the Market Growth

Cognitive computing in the banking industry is expected to help upgrade operational efficiency, customer engagement, and customer experience and growth revenues. Cognitive banking can completely reshape the banking and financial industry on three dimensions: deeper contextual engagement, new analytics insights, and enterprise transformation. Major companies have already adopted modifications for tasks such as performing various banking transactions digitally, opening a new retail account, and processing claims and loans in minutes.

Expanding the AI Technology for Sentiment Analysis is Stimulating the Market Growth

Sentiment analysis is the science of understanding emotions conveyed in communication. While it is easy for humans to understand tone, intent, etc., in a conversation, it is far more complicated for machines. For helping the machines to understand human communication, the need to feed training data from human conversations is required for the accuracy of the analysis. Sentiment analysis is popularly used to analyze social media communications such as tweets, comments, reviews, complaints, etc. Thus, along with the expanding AI Technology, the demand for sentiment analysis is expected to drive the cognitive computing market during the forecast period.


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Market Segmentation

Based on Component, the market is segmented into platform and services. Based on technology, the market is fragmented into natural language processing, machine learning, deep learning, human computer technology, automated reasoning, and information retrieval. On the basis of deployment mode, the market is divided into on-premises and cloud. On the basis of organization size, the market is split into small & medium enterprises and large enterprises. Based on industry vertical, the market is disintegrated into healthcare & life sciences, retail & e-Commerce, BFSI, security, IT & Telecom, media & entertainment, aerospace & defense, and manufacturing. On the basis of region, the market is divided North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profiles

IBM Corporation, Microsoft Corporation, Oracle Corporation, Google LLC, SparkCognition, Inc., Expert System, Cisco Systems, Inc., SAP SE, Hewlett Packard Enterprise Development LP, and Enterra Solutions, are among the major players that are driving the market growth of the global Cognitive Computing market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Component

Technology

Deployment Mode

Organization Size

Industry Vertical

Region

Regional Scope

Asia-Pacific, North America, Europe, Middle East & Africa and South America

Country Scope

China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, Brazil, Argentina, Colombia

Key Companies Profiled

IBM Corporation, Microsoft Corporation, Oracle Corporation, Google LLC, SparkCognition, Inc., Expert System, Cisco Systems, Inc., SAP SE, Hewlett Packard Enterprise Development LP, Enterra Solutions

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the global Cognitive Computing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Cognitive Computing Market, By Component:
    • Platform
    • Services
  • Cognitive Computing Market, By Technology:
    • Natural Language Processing
    • Machine Learning
    • Deep Learning
    • Human Computer Technology
    • Automated Reasoning
    • Information Retrieval
  • Cognitive Computing Market, By Deployment Mode:
    • On-Premises
    • Cloud
  • Cognitive Computing Market, By Organization Size:
    • Small & Medium Enterprises
    • Large Enterprises
  • Cognitive Computing Market, By Industry Vertical:
    • Healthcare & Lifesciences
    • Retail & E-Commerce
    • BFSI
    • Security
    • IT & Telecom
    • Media & Entertainment
    • Aerospace & Defense
    • Manufacturing
  • Cognitive Computing Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Italy
    • Middle East & Africa
      • Israel
      • Turkey
      • Saudi Arabia
      • UAE
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global Cognitive Computing market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Cognitive Computing Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Cognitive Computing Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Key Factors for Selecting Vendor

5.3.  Key Satisfaction Level

5.4.  Key Challenges Faced

6.    Global Cognitive Computing Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Component (Platform, Services)

6.2.2.    By Technology (Natural Language Processing, Machine Learning, Deep Learning, Human Computer Technology, Automated Reasoning, Information Retrieval)

6.2.3.    By Deployment Mode (On-Premises, Cloud)

6.2.4.    By Organization Size (Small & Medium Enterprises, Large Enterprises)

6.2.5.    By Industry Vertical (Healthcare & Lifesciences, Retail & E-Commerce, BFSI, Security, IT & Telecom, Media & Entertainment, Aerospace & Defense, Manufacturing)

6.2.6.    By Region

6.2.7.    By Company

6.3.  Market Map

7.    North America Cognitive Computing Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Component

7.2.2.    By Technology

7.2.3.    By Deployment Mode

7.2.4.    By Organization Size

7.2.5.    By Industry Vertical

7.2.6.    By Country

7.3.  North America: Country Analysis

7.3.1.    United States Cognitive Computing Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Component

7.3.1.2.2.           By Technology

7.3.1.2.3.           By Deployment Mode

7.3.1.2.4.           By Organization Size

7.3.1.2.5.           By Industry Vertical

7.3.2.    Canada Cognitive Computing Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Component

7.3.2.2.2.           By Technology

7.3.2.2.3.           By Deployment Mode

7.3.2.2.4.           By Organization Size

7.3.2.2.5.           By Industry Vertical

7.3.3.    Mexico Cognitive Computing Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Component

7.3.3.2.2.           By Technology

7.3.3.2.3.           By Deployment Mode

7.3.3.2.4.           By Organization Size

7.3.3.2.5.           By Industry Vertical

8.    Asia-Pacific Cognitive Computing Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Component

8.2.2.    By Technology

8.2.3.    By Deployment Mode

8.2.4.    By Organization Size

8.2.5.    By Industry Vertical

8.2.6.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China Cognitive Computing Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Component

8.3.1.2.2.           By Technology

8.3.1.2.3.           By Deployment Mode

8.3.1.2.4.           By Organization Size

8.3.1.2.5.           By Industry Vertical

8.3.2.    Japan Cognitive Computing Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Component

8.3.2.2.2.           By Technology

8.3.2.2.3.           By Deployment Mode

8.3.2.2.4.           By Organization Size

8.3.2.2.5.           By Industry Vertical

8.3.3.    South Korea Cognitive Computing Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Component

8.3.3.2.2.           By Technology

8.3.3.2.3.           By Deployment Mode

8.3.3.2.4.           By Organization Size

8.3.3.2.5.           By Industry Vertical

8.3.4.    India Cognitive Computing Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Component

8.3.4.2.2.           By Technology

8.3.4.2.3.           By Deployment Mode

8.3.4.2.4.           By Organization Size

8.3.4.2.5.           By Industry Vertical

8.3.5.    Australia Cognitive Computing Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Component

8.3.5.2.2.           By Technology

8.3.5.2.3.           By Deployment Mode

8.3.5.2.4.           By Organization Size

8.3.5.2.5.           By Industry Vertical

9.    Europe Cognitive Computing Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Component

9.2.2.    By Technology

9.2.3.    By Deployment Mode

9.2.4.    By Organization Size

9.2.5.    By Industry Vertical

9.2.6.    By Country

9.3.  Europe: Country Analysis

9.3.1.    Germany Cognitive Computing Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Component

9.3.1.2.2.           By Technology

9.3.1.2.3.           By Deployment Mode

9.3.1.2.4.           By Organization Size

9.3.1.2.5.           By Industry Vertical

9.3.2.    United Kingdom Cognitive Computing Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Component

9.3.2.2.2.           By Technology

9.3.2.2.3.           By Deployment Mode

9.3.2.2.4.           By Organization Size

9.3.2.2.5.           By Industry Vertical

9.3.3.    France Cognitive Computing Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Component

9.3.3.2.2.           By Technology

9.3.3.2.3.           By Deployment Mode

9.3.3.2.4.           By Organization Size

9.3.3.2.5.           By Industry Vertical

9.3.4.    Italy Cognitive Computing Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value 

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Component

9.3.4.2.2.           By Technology

9.3.4.2.3.           By Deployment Mode

9.3.4.2.4.           By Organization Size

9.3.4.2.5.           By Industry Vertical

9.3.5.    Spain Cognitive Computing Market Outlook

9.3.5.1.        Market Size & Forecast

9.3.5.1.1.           By Value 

9.3.5.2.        Market Share & Forecast

9.3.5.2.1.           By Component

9.3.5.2.2.           By Technology

9.3.5.2.3.           By Deployment Mode

9.3.5.2.4.           By Organization Size

9.3.5.2.5.           By Industry Vertical

10. South America Cognitive Computing Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Component

10.2.2. By Technology

10.2.3. By Deployment Mode

10.2.4. By Organization Size

10.2.5. By Industry Vertical

10.2.6. By Country

10.3.             South America: Country Analysis

10.3.1. Brazil Cognitive Computing Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Component

10.3.1.2.2.         By Technology

10.3.1.2.3.         By Deployment Mode

10.3.1.2.4.         By Organization Size

10.3.1.2.5.         By Industry Vertical

10.3.2. Argentina Cognitive Computing Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Component

10.3.2.2.2.         By Technology

10.3.2.2.3.         By Deployment Mode

10.3.2.2.4.         By Organization Size

10.3.2.2.5.         By Industry Vertical

10.3.3. Colombia Cognitive Computing Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Component

10.3.3.2.2.         By Technology

10.3.3.2.3.         By Deployment Mode

10.3.3.2.4.         By Organization Size

10.3.3.2.5.         By Industry Vertical

11. Middle East & Africa Cognitive Computing Market Outlook

11.1.             Market Size & Forecast

11.1.1. By Value

11.2.             Market Share & Forecast

11.2.1. By Component

11.2.2. By Technology

11.2.3. By Deployment Mode

11.2.4. By Organization Size

11.2.5. By Industry Vertical

11.2.6. By Country

11.3.             Middle East & Africa: Country Analysis

11.3.1. Israel Cognitive Computing Market Outlook

11.3.1.1.     Market Size & Forecast

11.3.1.1.1.         By Value 

11.3.1.2.     Market Share & Forecast

11.3.1.2.1.         By Component

11.3.1.2.2.         By Technology

11.3.1.2.3.         By Deployment Mode

11.3.1.2.4.         By Organization Size

11.3.1.2.5.         By Industry Vertical

11.3.2. Turkey Cognitive Computing Market Outlook

11.3.2.1.     Market Size & Forecast

11.3.2.1.1.         By Value 

11.3.2.2.     Market Share & Forecast

11.3.2.2.1.         By Component

11.3.2.2.2.         By Technology

11.3.2.2.3.         By Deployment Mode

11.3.2.2.4.         By Organization Size

11.3.2.2.5.         By Industry Vertical

11.3.3. UAE Cognitive Computing Market Outlook

11.3.3.1.     Market Size & Forecast

11.3.3.1.1.         By Value 

11.3.3.2.     Market Share & Forecast

11.3.3.2.1.         By Component

11.3.3.2.2.         By Technology

11.3.3.2.3.         By Deployment Mode

11.3.3.2.4.         By Organization Size

11.3.3.2.5.         By Industry Vertical

11.3.4. Saudi Arabia Cognitive Computing Market Outlook

11.3.4.1.     Market Size & Forecast

11.3.4.1.1.         By Value 

11.3.4.2.     Market Share & Forecast

11.3.4.2.1.         By Component

11.3.4.2.2.         By Technology

11.3.4.2.3.         By Deployment Mode

11.3.4.2.4.         By Organization Size

11.3.4.2.5.         By Industry Vertical

12. Market Dynamics

12.1.     Drivers

12.1.1. Growing Evolution of Computing Environment

12.1.2. Rise in Customer Engagement Through Social Media Platforms

12.1.3. Increasing Demand for Intelligent Business Processes

12.2.            Challenges

12.2.1. Lack of Data Management & Regulations

12.2.2. Concerns over Next Generation Software Development

13. Market Trends & Developments

13.1.        Increasing demand for computing in Retail Industry

13.2.        Growing usage of Computing for Banking & Finance

13.3.        Rising Demand for Chatbots in Business

13.4.        Expanding the AI Technology for Sentiment Analysis

13.5.        Trend of Employing Cognitive Computing in OTT Platforms

14. Company Profiles

14.1.                 IBM Corporation

14.1.1.    Business Overview

14.1.2.    Key Revenue

14.1.3.    Recent Developments

14.1.4.    Key Personnel

14.1.5.    Key Services Offered

14.1.6.    Target Market Segments

14.2.                 Microsoft Corporation

14.2.1.    Business Overview

14.2.2.    Key Revenue

14.2.3.    Recent Developments

14.2.4.    Key Personnel

14.2.5.    Key Services Offered

14.2.6.    Target Market Segments

14.3.                 Oracle Corporation

14.3.1.    Business Overview

14.3.2.    Key Revenue

14.3.3.    Recent Developments

14.3.4.    Key Personnel

14.3.5.    Key Services Offered

14.3.6.    Target Market Segments

14.4.                 Google LLC

14.4.1.    Business Overview

14.4.2.    Key Revenue

14.4.3.    Recent Developments

14.4.4.    Key Personnel

14.4.5.    Key Services Offered

14.4.6.    Target Market Segments

14.5.                 SparkCognition, Inc.

14.5.1.    Business Overview

14.5.2.    Key Revenue

14.5.3.    Recent Developments

14.5.4.    Key Personnel

14.5.5.    Key Services Offered

14.5.6.    Target Market Segments

14.6.                 Expert System

14.6.1.    Business Overview

14.6.2.    Key Revenue

14.6.3.    Recent Developments

14.6.4.    Key Personnel

14.6.5.    Key Services Offered

14.6.6.    Target Market Segments

14.7.                 Cisco Systems, Inc.

14.7.1.    Business Overview

14.7.2.    Key Revenue

14.7.3.    Recent Developments

14.7.4.    Key Personnel

14.7.5.    Key Services Offered

14.7.6.    Target Market Segments

14.8.                 SAP SE

14.8.1.    Business Overview

14.8.2.    Key Revenue

14.8.3.    Recent Developments

14.8.4.    Key Personnel

14.8.5.    Key Services Offered

14.8.6.    Target Market Segments

14.9.                 Hewlett Packard Enterprise Development LP

14.9.1.    Business Overview

14.9.2.    Key Revenue

14.9.3.    Recent Developments

14.9.4.    Key Personnel

14.9.5.    Key Services Offered

14.9.6.    Target Market Segments

14.10.               Enterra Solutions

14.10.1. Business Overview

14.10.2. Key Revenue

14.10.3. Recent Developments

14.10.4. Key Personnel

14.10.5. Key Services Offered

14.10.6. Target Market Segments

15. Strategic Recommendations

15.1.     Fastest Growing Market by Technology

15.2.     Dominating Market by Industry Vertical

15.3.     Dominating Market by Region

15.4.     Growing Technologies for Cognitive Computing

16. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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Key players in the global Cognitive Computing market are IBM Corporation, Microsoft Corporation, Oracle Corporation, Google LLC, SparkCognition, Inc., Expert System, Cisco Systems, Inc., SAP SE, Hewlett Packard Enterprise Development LP, and Enterra Solutions, among others.

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The main types are Healthcare & Lifesciences, Retail & E-Commerce, BFSI, Security, IT & Telecom, media & entertainment, aerospace & defense, and manufacturing.

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The main objective of cognitive computing is to create self-operating computerized systems that are proficient in solving even complex problems without any human help or intrusion.

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The growing evolution of computing environment, rise in customer engagement through social media platforms and increasing demand for intelligent business processes are expected to be the main drivers for the growth of the global cognitive computing market through the forecast period.

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Sakshi Bajaal

Business Consultant
Press Release

Cognitive Computing Market to be Dominated by Natural Language Processing (NLP) Through 2028

Feb, 2023

Growing evolution in computing environments, including cloud, mobile & analytics, is expected to drive the implementation of the cognitive computing market across the globe during the forecast period