Global Cognitive Computer Market Research and Forecast 2018-2023

Cognitive computing systems are self-learning systems that utilize machine learning models to understand the working of the brain. Cognitive computing technology will enable the creation of automated IT models which are capable of solving problems without human support. Examples of cognitive computing products includes Vantage Software, CaféWell Concierge, Sofie, BrightMinded, WayBlazer, and Edge Up Sports.

Cognitive computing impacts every area of lives, from travel, sports, and entertainment, to fitness, health and wellness including the health of pets. Several companies showcasing cognitive computing products in these various industries. For instance, Welltok is a cognitive computing market company solution provider that offer CaféWell Concierge with capability to process large amount of data rapidly to solve individuals’ questions and make intelligent, personalized recommendations. Welltok offers CaféWell Concierge to health insurers, providers, and similar organizations as a way to help their subscribers and patients improve their overall health.

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The market growth is driven by some major factors such as rising application of cognitive computing in healthcare and increasing demand for the natural language processing (NLP) technology. Further, increasing adoption of cloud-based technology and presence of large number of market players is also significant factors which is predicted to drive the growth of the global cognitive computer market. However, there are some factors which is expected to hinder the growth of the market such meticulous training process and issues in analysis of unstructured data. Large amount of unstructured data can be difficult to understand. Advancement in cognitive computer technology can solve this issue and can create enormous opportunity for the market in coming year.

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The global cognitive computer market is analysed on the basis of geographical regions that are contributing significantly to the growth of the market. North America is estimated to be the dominating region in the global cognitive computer market. Presence of large number of market players and increasing demand for the natural language processing (NLP) technology are estimated to be the major factors that are backing the growth of the market. Whereas, Asia Pacific is estimated to be the fastest growing region during the forecast period. Increasing adoption of cloud-based technology and growing advancement in cognitive computer technology are some of the major factors that are driving the growth of the cognitive computer market in the region.

The companies present actively in the global cognitive computer market are Cisco, Cognitive Scale, Expertsystem, Google, Inc., IBM Watson, Microsoft Corporation, Numenta, Palantir, Saffron Technology, Sparkcognition, Vicarious. Apixio received $19M Series D funding that fuels cognitive computing in healthcare sector. The company’s platform is tapping into the 80% of healthcare data that is unstructured, with the ultimate goal of advancing the science of medicine.