Cognitive Analytics Market 2018 Analysis, Key Companies, Sales, Demand and Forecasts 2026

Author: Neel Bobde

Polaris Market Research presents a most up-to-date research on " Cognitive Analytics Market, [By Component (Software, and Services); By Deployment Model (On-Premise, Cloud-Based); By Organization Size (Large Enterprises, Small and Medium Businesses); By End-User (Banking, Financial Services, and Insurance, Healthcare, Transportation and Logistics, Manufacturing, Retail, Energy, Others); By Region]: Market Size & Forecast, 2018 – 2026".

According to the latest market report published by the company titled ‘Cognitive Analytics Market: Global Industry Analysis and Forecast, 2018 – 2026,’ the global Cognitive Analytics Market is projected to reach US$ 48 Bn by the end of 2026 and grow at a CAGR of 37.3% during the forecast period.

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Major key players: -

  • International Business Machines Corporation
  • Cisco Systems Inc.
  • SAS Institute
  • Nuance Communications
  • Microsoft Corporation
  • Oracle Corporation
  • Amazon Web Services
  • Google
  • Intel Corporation
  • Narrative Science

Cognitive Analytics is the use of intelligent technology and analytical techniques for analysis of large data sets and unstructured data to gain actionable insights. Cognitive analytics offers business advantages by improving efficiency, providing real-time decision making ability, and enhancing customer service and outreach. Some benefits offered by cognitive analytics include mining of untapped data sources, offering highly personalised services, and improving knowledge sharing.

There has been an increasing requirement for cognitive analytics, especially in banking and government sectors for gaining insights from large amount of unstructured data. Real time analysis of cognitive data improves operational efficiency and assists in better decision making ability. The increasing trend of IOT, and machine learning has increased the adoption of cognitive analytics. The rising adoption of cognitive computing technology, and advancement in analytics technologies have boosted the cognitive analytics market growth. The increasing demand of cognitive analytics from healthcare, retail, and defense sectors would provide growth opportunities in the coming years.

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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Cognitive Analytics Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

The North America cognitive analytics market generated the highest revenue in 2017 owing to increasing adoption of cloud-based technologies in the region. BFSI and defense sectors in the region are investing significantly in cognitive analytics for increased efficiency, and effective business decisions. Growing adoption of IoT, and technological advancements further supports cognitive analytics market growth in the region.

Competitive Landscape and Key Vendors

The global Cognitive Analytics market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

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Key Segments

Component

  • Software
  • Services

Deployment Model

  • On-Premise
  • Cloud-Based

End-User

  • Banking, Financial Services, and Insurance
  • Healthcare
  • Transportation and Logistics
  • Manufacturing
  • Retail
  • Energy
  • Others

Organization Size

  • Large Enterprises
  • Small and Medium Businesses