Cognitive Computing Market to Reach USD 72.26 Billion by 2027; Increasing Adoption of Advanced Technologies by Enterprises to Stimulate Growth: Fortune Business Insights™

Pune, Aug. 06, 2020 (GLOBE NEWSWIRE) — The cognitive computing market size is expected to gain momentum by exhibiting a stellar CAGR of 26.6% between 2020 and 2027. This is attributable to the increasing adoption of advanced technologies such as artificial intelligence (AI), machine learning, and the internet of things (IoT) in the healthcare industry across the globe. This information is published by Fortune Business Insights, in its latest report, titled “Cognitive Computing Market Size, Share & COVID-19 Impact Analysis, By Component (Platform, and Services), By Technology (Machine Learning (ML), Natural Language Processing (NLP), Automated Reasoning, and Others, By Deployment (Cloud-based, and On-premise), By Enterprise Size (Small & Medium Enterprise (SMEs), and Large Enterprise), By End-user (BFSI, Healthcare, Retail & e-commerce, IT & Telecom, Government & Defense, and Others, and Regional Forecast, 2020-2027.” The report further observes that the market was worth USD 11.11 billion in 2019 and is projected to reach USD 72.26 billion by 2027.The onslaught of the novel coronavirus, COVID-19 that has resulted in millions of human casualties and unprecedented economic loss has led to turbulent times across the globe. However, the advent of digitalization has accounted for a thriving cognitive computing platform across the globe. Several enterprises are adopting cognitive solutions to enhance productivity and security in their operations.We are taking continuous efforts to help your business sustain and grow during the COVID-19 pandemic. Based on our experience and expertise, we will offer you an impact analysis of the coronavirus outbreak across industries to help you prepare for the future.
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What does the Report Include?The market report includes a detailed assessment of various drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive insights into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnership, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027. 
DRIVING FACTORSIncreasing Adoption of Cognitive Computing Solutions in Healthcare to Bolster GrowthThe adoption of modern technologies has led to tremendous improvement in the healthcare treatment services that are enabling the doctors to run better diagnostics and save scores of lives lately. The notable advantages of adopting these computing solutions include:Foster Health Patient Behavior: The smarter algorithms aid in early detection of chronic diseases that help the medical professionals to advise patients to follow healthy habits to prevent the severity of the disease in the future.Enhances Daily Activity: The medical practitioners can efficiently optimize their clinical and operational activities by analyzing the patient information and providing them with the best medical aid.Owing to their several benefits, the cognitive solutions are in huge demand across the healthcare sector that is expected to drive the global cognitive computing market during the forecast period.
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SEGMENTATION:Platform Segment Held a Share of 72.9% in the U.S.The segment platform, based on component, commanded a market share of 72.9% in the U.S. in 2019 and is expected to showcase considerable growth owing to the increasing adoption of cognitive platforms such as cloud by the enterprises.REGIONAL INSIGHTSNorth America Poised to Remain Dominant; Increasing Adoption of Core Technologies to Surge DemandAmong all regions, North America was worth USD 4.42 billion in 2019 and is expected to showcase significant growth in the global market in the forthcoming years. This is attributed to the increasing adoption of core technologies such as AI, big data, and IoT by major companies such as Alphabet, Inc. and Microsoft in the region. The Asia-Pacific market is likely to experience considerable growth owing to the rising investment in R&D activities by the major organizations between 2020 and 2027.COMPETITIVE LANDSCAPEProduct Launches by Major Companies to Strengthen Product PortfolioFortune Business Insights observes that the global cognitive computing market is fragmented into small, medium, and large companies that are striving to consolidate their positions in the fiercely competitive global marketplace. They are doing so by adopting strategies such as the introduction of new products, collaboration, partnership, and merger and acquisition to strengthen their product portfolio.Industry Development:May 2020: Udacity, an online educational tutor, announced the launch of its new AI healthcare program. According to the online educator, the new AI course will provide insights to the students about the application of AI in electronic health records, medical imaging, and others.
List of the Leading Companies Profiled in the Cognitive Computing Market Research Report are:Alphabet, Inc. (Google LCC) (U.S.)Microsoft Corporation (U.S.)IBM Corporation (U.S.)SparkCognition, Inc. (U.S.)Tata Consultancy Services (TCS) (India)Red Skios (Spain)Saffron Technology, Inc. (U.S.)Acuiti (Australia)Enterra Solutions (U.S.)Cognitive Scale, Inc. (U.S.)Palantir Technologies (U.S.)ColdLight Solutions, LLC (U.S.)Numenta (U.S.)Vicarious (U.S.)
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Detailed Table of ContentIntroductionDefinition, By SegmentResearch Methodology/ApproachData SourcesExecutive SummaryMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPorter’s Five Force AnalysisGlobal Cognitive Computing Market Share Analysis and Matrix, 2019Key Cognitive Computing Market Insights and Analysis, By SegmentsGlobal Cognitive Computing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027By Component (Value)PlatformServicesBy Technology (Value)Machine Learning (ML)Natural Language Processing (NLP)Automated ReasoningOthers (Computer Vision, Deep Learning, Robotics, etc.)By Deployment (Value)CloudOn-premisesBy Enterprise Size (Value)SMEsLarge EnterprisesBy End-user (Value)BFSIHealthcareRetail & ecommerceIT & TelecomGovernment & DefenseOthers (Energy & Utilities, Transportation, etc.)By Region (Value)North AmericaEuropeAsia PacificMiddle East & AfricaTOC Continued…!!!Cloud Computing Market Size, Share & Industry Analysis, By Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, Others (Energy and Utilities, Education), and Regional Forecast, 2020-2027Artificial Intelligence (AI) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), By Deployment (Cloud, On-premises), By Industry (Healthcare, Retail, IT & Telecom, BFSI, Automotive, Advertising & Media, Manufacturing, and Others) and Regional Forecast, 2020-2027Machine Learning Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, and Services), By Enterprise Size (SMEs, and Large Enterprises), By Deployment (Cloud and On-premise), By Industry (Healthcare, Retail, IT and Telecommunication, BFSI, Automotive and Transportation, Advertising and Media, Manufacturing, and Others), and Regional Forecast, 2020-2027Natural Language Processing (NLP) Market Size, Share & Industry Analysis, By Deployment (On-Premises, Cloud, and Hybrid), By Technology (Interactive Voice Response (IVR), Text Analytics, Speech Analytics, Pattern and Image Recognition, and Others), By Industry Vertical (Healthcare, Retail, BFSI, Automotive & Transportation, Advertising & Media, Manufacturing, and Others) and Regional Forecast, 2019-2026Serverless Computing Market Size, Share & Industry Analysis, By Services (Monitoring Services, API Management Services, Integration Services, Security, Support and Maintenance, Others), By Deployment (Public Cloud, Private Cloud), By Enterprise Size (Large Enterprises, Small & Medium Enterprises (SMEs), Start-up Firms) , By Industry (BFSI, It and Telecom, Retail, Healthcare)and Regional Forecast, 2020-2027
Context Aware Computing Market Size, Share & Industry Analysis, By Vendor (Mobile Network Operator, Device Manufacturer, and Online, Web, & Social Networking Vendors), By End-user (BFSI, Consumer Electronics, Media and Entertainment, Automotive, Healthcare, Telecommunication, Logistics & Transportation and Others), and Regional Forecast, 2019-2026
High Performance Computing (HPC) and High Performance Data Analytics (HPDA) Market Size, Share and Global Trend By Data Type (Structured, Unstructured, Semi-structured), By Component (Software, Hardware, Services), By Industry Vertical (Healthcare, IT and Telecom, Retail and consumer goods, Media and entertainment), By Deployment (On Premise, On Cloud), and Geography Forecast till 2026

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