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Thursday, 27 April 2017
Research Insights on Cognitive Computing Market 2016 to 2021
Cognitive Computing Market- Forecasts from 2016 to 2021 is a new market research publication announced by Reportstack. Cognitive Computing enables the processing of huge volumes of complex data and enhances the enterprise's productivity levels. With the help of natural language processing, machine learning, and automated reasoning; Cognitive Computing translates unstructured data such as images, videos, natural language and symbols to infer and predict the best solution.
The major application industries of Cognitive Computing Market includes BFSI, healthcare, and military and defense among others. The key factors driving the growth of the industry are harness speed of internet and increasing volume of unstructured data. Other factors contributing to the growth of the market include the development of innovative hardware and software systems and Cloud-based technological advancements. Natural Language Processing segment is the highest revenue generating technology of cognitive computing. Higher investment by major players is also expected to boost the market substantially. Conversely, the major restraining factors are a lack of awareness regarding this technology.
Cognitive Computing Market is projected to expand at a CAGR of 30.56% over the forecast period to reach US$21.440 billion by 2021, increasing from US$5.651 billion in 2016. Currently, Americas region dominated the Cognitive Computing Market in 2016, while Asia pacific region is expected to grow at the fastest pace, due to increasing adoption of these solutions by SMBs and higher deployment of cloud-based services. Research Methodology
Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentation which has been covered as part of the report.
Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Cognitive Computing. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, Cognitive Computing Market has been segmented on the basis of Technology, Vertical, End User, Deployment Type and Geography as follows:
By Technology Natural Lanaguage Processing (NLP) Machine Learning Automated Reasoning Others (Information Retrieval) By End User Small Medium Large By Deployment Type Cloud Based On-Premise By Vertical Healthcare BFSI Retail Government Military and Defense Communication and Technology Others By Geography Americas North America South America Europe Middle East and Africa Europe Middle East and Africa Asia Pacific
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are International Business Machines Corporation (IBM), Google, Microsoft Corporation, Nuance Communications, 3M, and Hewlett Packard (HP) among others.