Cognitive Computing Market — Witness Rise in Deployment at a CAGR of 53.2%

Posted by RASHMI on June 7th, 2019

The rising use of cloud-based applications is identified as one of the chief drivers of the global cognitive computing market. Cognitive computing has delivered exceptional business and societal benefits by automating tabulation and harnessing computational processing and processing. These developments have in turn helped businesses deliver enterprise and personal productivity.

Cognitive systems enable people interact with other computing systems and extend their expertise across any domain of knowledge. Thus is supports making complex decisions involving extraordinary volumes of fast moving big data.

Cognitive system uses natural language processing and machine learning to enable people and machines interact more easily. These systems learn and interact to provide expert assistance to scientists, engineers, lawyers, and other professionals in a fraction of the time.

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In 2016, the global cognitive computing market was valued at US.67 bn and is expected to reach US,000.52 bn by 2025, expanding at a CAGR of 49.9% during the forecast period. Though high upfront investment for the companies may act as a restrain for cognitive computing market as it is difficult for many cognitive technology companies to draw pilot stage funds for R&D.

Nonetheless, the increasing demand from Healthcare sector due to rising amount of unstructured data serves as an opportunity for the market. Moreover, increasing demand for next generation cognitive data centers also act as an opportunity for the global cognitive computing market.

The key market players profiled in this report are Cisco Systems, Inc., Hewlett Packard Enterprise, IBM Corporation, Flatiron Health, Inc., Accenture, Inc., Microsoft Corporation, SparkCognition, Google, Inc., Digital Reasoning Systems and Narrative Science.