Market Overview
Cognitive computing is a technology platform, which is based on the scientific disciplines of signal processing and artificial intelligence. These platforms are comprised of natural language processing (NLP), reasoning, speech recognition and vision, machine learning, human-computer interaction, and narrative generation. In other words, cognitive computing simulates the human thought process in the computerized model, in order to create automated IT systems that can solve problems without human intervention. Cognitive computing has been considered as revolutionary as it uses a unique approach of acquiring knowledge from structured and unstructured data and learns from it instead of being programed with strict linear or logical rules or responses. Various organizations have started adopting cognitive technology due to recent advancements in digital technology.

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The global cognitive computing market is estimated to account for US$ 76.46 Bn in 2019 is expected to exhibit a CAGR of 53.0% during the forecast period.

Market Dynamics- Drivers

Increasing investment in big data analytics is expected to drive growth of the global cognitive computing market during the forecast period
The use of big data analytics has increased significantly in the recent past, a majority of the data received by companies is in the form of unstructured data including images, audio files, videos, texts, etc. This makes organizations adopt the cognitive computing model to organize the data and provide meaningful interference. Furthermore, high growth of the global big data and analytics market has increased the demand for cognitive computing systems in the industry. Companies in the market are focused on making significant investments in big data is expected to support the global cognitive computing market growth during the forecast period.
Growing use of cloud-based applications is expected to propel the global cognitive computing market growth over the forecast period
Cloud-based applications are typically used due to their diverse characteristics such as less consumption of memory, high flexibility, lesser cost, and increased flexibility. Since the organizations of different sizes are focused on moving their critical business systems onto cloud platforms, the demand for a cognitive cloud platform is expected to increase making it possible to create and bring cognitive computing applications to masses. Therefore, growing cloud-based applications is expected to boost the market growth over the forecast period.
North America region dominated the global cognitive computing market in 2019, accounting for 36.3% share in terms of value, followed by Asia Pacific and Europe, respectively

Market Opportunities
High demand from healthcare sector can present lucrative growth opportunities for market players
According to Coherent Market Insights’ analysis, cognitive computing technology is expected to witness significant growth in the healthcare sector during the forecast period. Around 80% of the data available in the healthcare sector is unstructured and hence provides an opportunity for cognitive computing technologies that can organize, access, and analyze all types of data including voice recordings, images, structured and unstructured data with meaningful solutions. For instance, IBM Watson for Oncology can analyze patient medical history and sift through thousands of studies, articles, textbooks, medical journals, and patient cases to offer oncologists with probable treatment plans. As the global population is aging, cognitive digital innovations are expected to play an even bigger role in the healthcare industry.
Growing demand for next-generation data centers is expected to provide major business opportunities
In the recent past, IT organizations have struggled against complexity. As business demands have increased significantly, scores of technologies have been implemented in an attempt to respond. As a result of this, data centers have become costly and complex with over-provisioned physical configurations. Although cloud and virtualization have improved the circumstances, they are further hampered data center inefficiencies namely less automation and orchestration among data center components. Cognitive data centers can provide simpler and more adoptive infrastructure, which is capable of responding to disruptive changes, integrating legacy and new architectures in a single minable ecosystem. Thus, these characteristics of cognitive data centers can offer lucrative growth opportunities over the forecast period.

Key features of the study:

• This report provides an in-depth analysis of the global cognitive computing market and provides market size (US$ billion) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global cognitive computing market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
• The global cognitive computing market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global cognitive computing market.

Detailed Segmentation:
Global Cognitive Computing Market, By Deployment Type
• On-premise Software
• Cloud-based Software
Global Cognitive Computing Market, By End user
• Small Scale Enterprises
• Large Scale Enterprises
• Public Sector
Global Cognitive Computing Market, By Application
• Diagnostic APIs
• Robots
• Cyber Security
• Farm Mechanization
• eLearning
• Supply Chain management
• Social Media Monitoring
• Self-driving cars
• Gaming
• Video
• IT infrastructure management
• Others
Global Cognitive Computing Market, By Industry
• Healthcare
• BFSI
• IT & Telecom
• Energy & Utilities
• Agriculture
• Retail
• Aerospace & defense
• Government
• Transportation
• Media & Entertainment
• Education
• Others (HR, Marketing & PR, etc.)

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Competitive Section
Key players operating in the global cognitive computing market are Accenture Inc., SparkCognition Inc., Cisco Systems, Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Google Inc., Microsoft Corporation, Narrative Science Inc., Flatiron Health, Inc., and Digital Reasoning Systems, Inc.

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