Cognitive Computing: Applications and Global Markets

New York, May 09, 2022 (GLOBE NEWSWIRE) — announces the release of the report “Cognitive Computing: Applications and Global Markets” –

Using 2020 as the base year, the report provides estimated market data for the designated forecast period from 2021 to 2026.Revenue forecasts for this period are segmented based on component, deployment mode, organization size, end user, application, and geography.

Market values have been estimated based on the total revenue of cognitive computing solution providers.

The report covers the market for cognitive computing regarding the user base across different regions.It also highlights major trends and challenges that affect the market and the vendor landscape.

The report estimates the global market for cognitive computing in 2020 and provides projections for the expected market size through 2026.

The scope of the study includes cognitive computing solutions and associated services, and services associated with the platform. Hardware (e.g., data centers), however, have been excluded from the study.

Report Includes:
– 51 data tables and 34 additional tables
– An up-to-date overview of the global markets for cognitive computing technologies and applications
– Analyses of the global market trends, with data from 2020 and 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2026
– Evaluation and forecast the cognitive computing market size, and corresponding market share analysis by component, deployment mode, organization size, application, end-user vertical, and geographic region
– In-depth information (facts and figures) concerning market drivers, market deterrents and other macroeconomic forces affecting the current and future market outlook
– Highlights of the upcoming market potential and areas of focus to forecast this market into various segments and sub-segments
– Insight into the recent industry structure, current competitive landscape, increasing investment on R&D activities, key growth strategies, and company revenue share analysis
– Descriptive company profiles of the leading global players, including Accenture plc, Cisco Systems Inc., Hewlett Packard Enterprise, Microsoft, Intel Corp. and NVIDIA

BCC Research examines the ways in which the cognitive computingmarket is changing and how it has evolved.This analysis includes a detailed survey of both newand existing organizations in the market.

At the industry level, BCC Research identifies, examines, describes, and provides global and regional market sizes for 2020, and forecasts demand from 2021 through 2026.

The adoption of cognitive computing technology is based on factors such as the adoption of AI by businesses to automate processes and integrate human computer interaction (HCI).Most players in market are developing cognitive services that are accessed by application developers, or end users who deploy solutions at their systems and servers. Use cases of cognitive computingwere seen in financial institutions, retail and healthcare, where HCI applications are being deployed at a fast pace. The media and advertising sector has also begun developing cognitive services.

The global cognitive computing marketwas estimated to be worth $REDACTED billion in 2020.It is projected to grow at a CAGR of REDACTED%, and it is forecast to reach $REDACTED billion by 2026.

Rising computation power, increasing implementation of HCI applications and rising implementation of AI are key factors driving the growth of the cognitive computingmarket. The inability of small companies to supportcognitive systems, high implementation costs and the shortage of skilled workforces are among the factors hindering market growth.

In this report, the global market of cognitive computing has been segmented based on component, deployment mode, organization size, end user, application and geography.Based on component, the cognitive computing market has been categorized into solutions and services.

The REDACTED segment currently REDACTED the market. It was valued at $REDACTED billion in 2020. It is estimated the cognitive computingmarket for solutionswill grow at a CAGR of REDACTED%, and it is forecast to reach $REDACTED billion by 2026

Based on organization size, the cognitive computing market is categorized into SMEs and large enterprises.Based on deployment mode, the market is segmented into cloud and on-premises.

Based on end user, the market is segmented into BFSI, retail, media and advertising, education, healthcare, life science, IT and telecom. Based on applications, the market is segmented into speech recognition, image recognition, fraud detection and risk assessment, chatbots and sentiment analysis.

By geography, the cognitive computingmarket is segmented into North America, Europe, the Asia-Pacific region and RoW.The REDACTED region is currently the REDACTED market for global cognitive computing market.

In 2020, total revenue from the REDACTED cognitive computingmarket reached $REDACTED billion, REDACTED% of the global market. The presence of leading companies, robust technology infrastructure, a surge in demand for voice technology and HCI applications and high adoption ofadvanced technologies (e.g., AI, IoT, cloud) are some of the key factors driving theREDACTED market. Asia-Pacific is currently the fastest-growing globalmarket for cognitive computing. This market was valued at $REDACTED billion in 2020. It is projected to grow at a CAGR of REDACTED% and forecast to reach $REDA CTED billion by 2026.
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