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Cognitive Computing Market to Register High Demand Rate by 2024

Author: Joseph Tint
by Joseph Tint
Posted: Aug 02, 2017

Global Cognitive Computing Market: Overview

Cognitive computing is the recreation of human thought methods in a computerized model. Cognitive computing consists of self-learning methods that use pattern recognition, data mining, and natural language processing to imitate the way a human brain works. The aim of cognitive computing is to generate automated IT systems that are proficient of solving problems which don't need human assist. Cognitive computing is used in several artificial intelligence (AI) applications, which consist of natural language programming, robotics, expert systems, neural networks, and virtual reality. The term cognitive computing is directly associated with the IBM’s cognitive computer system.

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Global Cognitive Computing Market: Growth Factors

The rise in the development of integrated cloud platform and artificial intelligence is projected to sustain the growth of the global cognitive computing market. The rise in concern among the most important business organizations to examine a large volume of information to project the risk connected with any calculated initiative is more instrumental in speeding up the industry growth. The requirement for industries, such as retail, healthcare, and financial organization, to study large volumes of information optimally on a real-time basis, is recognized to impact the production positively. Technical propagation is leading to the adoption of inventive techniques such as automated reasoning and machine learning in dispensing systems.

Global Cognitive Computing Market: Segmentation

On account of applications, the market has been divided into robots, diagnostic APIs, video surveillance, farm mechanization, self-driving cars, cyber security, supply chain management, social media monitoring, gaming, eLearning, IT infrastructure management, and others. On the account of industry type, the global cognitive computing market is segmented into BFSI, manufacturing, government, energy & utility healthcare, IT & telecom, media & entertainment, retail, transportation, agriculture, aerospace & defense, education and others (marketing & PR, HR and so on.). On the account of end-users, the global market is divided into small & medium enterprises, large enterprises, and public sectors.

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Global Cognitive Computing Market: Regional Analysis

North America is anticipated to become the largest global cognitive computing market. The Greater part of cognitive computing service providers such as Microsoft, Google, and IBM Corporation is based in North America area itself and they are also spending in the field of global cognitive computing local market. For example, to speed up the acceptance of Watson system, IBM Corporation is spending in Modernizing Medicine, specialty-specific electronic medical records (EMR) systems and a supplier of cloud-based. Establishment of numerous cognitive computing startups such as Cognitive Scale is majorly taking place in Europe. Asia Pacific province is estimated to have reasonable growth rate for the global cognitive computing market as quickly increasing trend of cloud based services, in both small and medium ventures, is paving the way for development of the global cognitive computing market in this region. Latin America, Africa, and the Middle East regions are yet to match the speed of the global cognitive computing market.

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Global Cognitive Computing Market: Competitive players

The key players in the global cognitive computing market include Cognitive Scale, IBM Corporation, Google, Palantir Technologies, Microsoft Corporation, Enterra Solutions, and Numenta.

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Author: Joseph Tint

Joseph Tint

Member since: Jul 21, 2017
Published articles: 34

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