Cognitive Computing Market by Component, Deployment Mode, Business Function, Application, Technology, Industry Vertical and Region - Global Forecast to 2025
The Cognitive Computing Market Size is Projected to Grow from USD 20.5 Billion in 2020 to USD 77.5 Billion by 2025, at a CAGR of 30.5%
DUBLIN, March 26, 2020 /PRNewswire/ -- The "Cognitive Computing Market by Component, Deployment Mode, Business Function, Application (IVA and Chatbot and Behavioral Analysis), Technology (Human Computer Interface and Deep Learning), Industry Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Cognitive Computing Market Size is Projected to Grow from USD 20.5 Billion in 2020 to USD 77.5 Billion by 2025, at a CAGR of 30.5%
The report comprehensively describes the factors impacting the growth of cognitive computing market. It comprises market dynamics, such as drivers, restraints, opportunities, and challenges; use cases; and various industry standards, which affect the growth of the market. Globally, companies are rapidly adopting cognitive computing technologies to gain a competitive edge in the market. The key players in the cognitive computing market are Microsoft, IBM, SAS, Google, AWS, TCS, Cisco, and Virtusa. These companies are continuously innovating their products and services to overcome large and complex data challenges as compared to other database solutions.
Services segment to grow at a higher CAGR during the forecast period
The services segment has been further divided into managed services and professional services. These services play a vital role in the functioning of cognitive computing solutions. Cognitive computing providers require technical support services and consulting services to manage the deployment of these solutions. These services ensure faster and smoother implementation that maximizes the value of enterprise investments. They are an integral part in deploying technology solutions and are taken care by solution and service providers. They ensure the end-to-end deployment of the chatbot platform and address pre- and post-deployment queries.
Banking, financial services and insurance industry vertical to grow at the highest rate during the forecast period
The cognitive computing market by vertical is segmented into nine categories: Banking Financial Services and Insurance (BFSI), telecommunication and IT, retail and e-commerce, healthcare and life sciences, manufacturing, travel and hospitality, media and entertainment, government, defense, and others (energy and utilities, transportation and logistics, and education). The BFSI industry vertical is expected to grow at a rapid pace during the forecast period. Organizations are adopting cognitive computing solutions to enhance patient experience, and enable data-driven, actionable analytics. These solutions offer travel and hospitality organizations with cost-effective ways while processing large volumes of disparate data types.
Asia Pacific to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Increasing investments by the technology companies in major APAC countries, such as China, Japan, and India; growing digitalization; increasing adoption of advanced Artificial Intelligence (AI) and Machine Learning (ML) technologies; and government regulations and initiatives are expected to drive the growth of the market in the APAC region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Cognitive Computing Market
4.2 Market By Region
4.3 Market in North America, By Business Function and Industry Vertical
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Continuous Evolution in the Computing Environment: Cloud, Mobile, and Analytics
5.2.1.2 Rise in Customer Engagement Through Social Media Platforms
5.2.1.3 Increasing Demand for Intelligent Business Processes
5.2.2 Restraints
5.2.2.1 Inability to Recognize Customer Intent and Respond Effectively
5.2.3 Opportunities
5.2.3.1 Utilizing Cognitive Abilities to Reduce Excess Operational Costs
5.2.3.2 Growing Use of Deep Learning Technology in Artificial Intelligence Recommendation Engine Solutions
5.2.4 Challenges
5.2.4.1 Data Management and Regulations
5.3 Use Cases
5.3.1 Use Case: Building an Efficient Healthcare System With Welltok
5.3.2 Use Case: Standardizing Risk, Controls, and Issues Across Its Business Functions With IBM Openpages
5.3.3 Use Case: Enhancing Customer Experience With IBM Watson
5.3.4 Use Case: Improving Lifetime Value of Customers With AI
5.3.5 Use Case: Boosting Customers and Service Agents With AI-Based Cognitive Service Experience System
5.3.6 Use Case: Enhancing Customer Experience With Cognitive Services
5.4 Regulatory Implications
5.4.1 General Data Protection Regulation
5.4.2 United States Securities and Exchange Commission
5.4.3 Comprehensive Capital Analysis and Review
5.4.4 Dodd-Frank Act
5.4.5 Payment Card Industry Data Security Standard
5.4.6 The International Organization for Standardization 27001
5.4.7 California Consumer Privacy Act
5.4.8 Health Insurance Portability and Accountability Act of 1996
5.4.9 Health Information Technology for Economic and Clinical Health Act
5.4.10 European Market Infrastructure Regulation
5.4.11 Basel Committee on Banking Supervision 239 Compliance
5.4.12 Sarbanes-Oxley Act of 2002
5.4.13 Personal Data Protection Act
6 Cognitive Computing Market By Component
6.1 Introduction
6.2 Platform
6.3 Services
6.3.1 Managed Services
6.3.2 Professional Services
7 Cognitive Computing Market By Business Function
7.1 Introduction
7.2 Human Resource
7.3 Operations
7.4 Finance
7.5 Marketing and Sales
7.6 Others
7.6.1 Research and Development
7.6.2 Legal
8 Cognitive Computing Market By Application
8.1 Introduction
8.2 Automation
8.3 Intelligent Virtual Assistants and Chatbots
8.4 Behavioral Analysis
8.5 Biometrics
8.6 Others
9 Cognitive Computing Market By Technology
9.1 Introduction
9.2 Machine Learning
9.3 Human Machine Interface (HMI)/Human Computer Interface (HCI)
9.3.1 Computer Vision
9.3.2 Machine Vision
9.3.3 Robotics
9.4 Natural Language Processing
9.5 Deep Learning
10 Cognitive Computing Market By Deployment Mode
10.1 Introduction
10.2 On-Premises
10.3 Cloud
10.4 Hybrid
11 Cognitive Computing Market By Organization Size
11.1 Introduction
11.2 Small and Medium-Sized Enterprises
11.3 Large Enterprises
12 Cognitive Computing Market By Industry Vertical
12.1 Introduction
12.2 Banking, Financial Services, and Insurance
12.3 Retail and eCommerce
12.4 Travel and Hospitality
12.5 Government
12.6 It and Telecommunications
12.7 Healthcare and Life Sciences
12.8 Manufacturing
12.9 Media and Entertainment
12.10 Others
13 Cognitive Computing Market By Region
13.1 Introduction
13.2 North America
13.2.1 United States
13.2.2 Canada
13.3 Europe
13.3.1 United Kingdom
13.3.2 Germany
13.3.3 France
13.3.4 Italy
13.3.5 Rest of Europe
13.4 Asia Pacific
13.4.1 China
13.4.2 Singapore
13.4.3 India
13.4.4 Australia and New Zealand
13.4.5 Rest of Asia Pacific
13.5 Middle East and Africa
13.5.1 Middle East
13.5.2 Africa
13.6 Latin America
13.6.1 Brazil
13.6.2 Mexico
13.6.3 Argentina
13.6.4 Rest of Latin America
14 Competitive Landscape
14.1 Introduction
14.1.1 Visionaries
14.1.2 Innovators
14.1.3 Dynamic Differentiators
14.1.4 Emerging Companies
15 Company Profiles
15.1 Introduction
15.2 Google
15.3 Microsoft
15.4 IBM
15.5 SAS
15.6 AWS
15.7 Artificial Solutions
15.8 Numenta
15.9 Enterra Solutions
15.10 Cognitivescale
15.11 Sparkcognition
15.12 TCS
15.13 Expert System
15.14 Cisco
15.15 Virtusa
15.16 Cognitive Software Group
15.17 Acuiti
15.18 E-Zest
15.19 Vantage Labs LLC
15.20 Red Skios LTD
15.21 Burstiq
For more information about this report visit https://www.researchandmarkets.com/r/3iz9vn
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