Cognitive Computing Market will Reach Nearly USD 305.23 Billion, at a CAGR of 31.0% during the Forecast Period of 2030
Market Size – USD 26.85 Billion in 2021, Market Growth – CAGR of 31.0%
NEW YORK CITY, NEW YORK, USA, November 11, 2022 /EINPresswire.com/ — The global cognitive computing market is forecast to reach USD 305.23 Billion by 2030, according to a new report by Reports and Data. The cognitive computing technology derives the answers and works like the human brains. Literally, the computerized models adapt algorithms that self-learn and utilize machine learning models to mimic the way the human brain works. The models formed by cognitive computing, provide a real-life roadmap for artificial intelligence and machine learning and eventually facilitate the automated systems, which would work without human assistance. The rising requirement of virtual assistance and eloquent interactive voice response (IVR) for customer support in various sectors are being highly insistent in the market. Cloud deployment is likely to enrich broadly due to the higher adoption rate of the cloud-based services in the financial SMEs’.
APAC is forecasted to achieve the fastest growth of about 35.4% in the period 2022 – 2030, due to its extensive development in information technology engineering coupled with the massive proliferation of internet availability and digital marketing. India and China are some of the fastest-growing countries due to the immense growth in their potential consumer base throughout all the major industry verticals and high rise in big data.
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Top Profiled in the Cognitive Computing Market Report:
• Google LLC
• Microsoft
• Amazon Web Services
• IBM
• Cisco Systems
• Hewlett Packard Enterprise Development LP
• Accenture
• SAS Institute Inc
• Dell Inc
• Huawei Technologies Co
• Alteryx
• SparkCognition
• C3.ai
Market Segmentation:
Technology Outlook (Revenue, USD Billion; 2019-2030)
• Natural Language Processing (NLP)
• Information Retrieval
• Machine Learning
• Automated Reasoning
Deployment Type Outlook (Revenue, USD Billion; 2019-2030)
• Cloud
• Hybrid
• On-Premise
Application Type Outlook (Revenue, USD Billion; 2019-2030)
• Automation
• Intelligent Virtual Assistants
• Behavioral Analysis
• Biometrics
• Others
Business Functions Type Outlook (Revenue, USD Billion; 2019-2030)
• Human Resources (HR)
• Marketing and Advertising
• Legal
• Finance
• Others
Industry Verticals Outlook (Revenue, USD Billion; 2019-2030)
• Healthcare
• BFSI
• Retail
• Government
• Energy and Power
• IT & Telecom
• Others
End-Use Outlook (Revenue, USD Billion; 2019-2030)
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
• Other
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Key Takeaways of the Cognitive Computing Market Report:
• A comprehensive overview of the global Cognitive Computing industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the Cognitive Computing Market.
• Elaborate study of the leading regional markets in the Cognitive Computing Market.
• Complete overview of the market’s competitive landscape.
• Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report:
• North America
o U.S.
o Canada
o Mexico
• Europe
o Russia
o U.K.
o Germany
o France
o BENELUX
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific
• Latin America
o Brazil
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o U.A.E.
o Israel
o Rest of Middle East & Africa
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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