A cognitive system uses machine learning (ML) and natural language processing (NLP) technology to extract insights form structured and unstructured data.
Increasing digitization in the banking sector is expected to propel growth of the global cognitive systems market over the forecast period. For instance, in January 2020, HDFC Bank launched myApps, a platform that enables urban local bodies in India to completely digitize their ecosystem. Moreover, increasing volume of unstructured data is a major factor boosting growth of the global cognitive system market. For instance, according to International Data Corp, the total volume of data is expected to reach 163 zettabytes in 2025, of which around 80% is expected to be unstructured data.
Increasing adoption of mobile banking is expected to aid in growth of the global cognitive systems market. For instance, according to Juniper Research Ltd., the number of mobile banking users in the U.K. is expected to reach over 1.75 billion by the end of 2019, compared to 800 million in 2018. The market is also driven by rapid adoption of Artificial Intelligence (AI) in various sectors. For instance, in January 2020, Singapore-based startup Nestron announced the launch of 4 low-cost prefab home models complete with an AI assistant, Canny.
However, lack of awareness regarding cognitive systems in emerging economies is expected to hinder growth of the global cognitive systems market.
Among regions, Asia Pacific is expected to witness rapid growth in the global cognitive system market over the forecast period. This is attributed to increasing internet users in the region. For instance, according to China Internet Network Information Center (CNNIC) (2018), 802 million people in China are now actively using the internet, which accounts for 57.7% of the population.
Key players in the market are focused on launching new products to expand their product portfolio. For instance, in December 2019, Ramco Systems, in partnership with NelsonHall, a research & analysis firm, launched Digital Payroll Maturity Assessment Tool – a free and interactive survey for multi-country organizations to analyze and map their digital payroll maturity against industry benchmark. Similarly, in January 2020, IBM launched IBM Advertising Accelerator with Watson, which uses AI to predict the element combinations that drive the highest audience engagement and conversion.
Key Takeaways:
• Increasing adoption of mobile banking is expected to augment growth of the global cognitive systems market
• Lack of awareness regarding cognitive systems in emerging economies is expected to hinder growth of the market
• Major players operating in the global cognitive systems market include, IBM, Microsoft, Accenture, DataStax, EMC, Google, MapR Technologies, SAS Institute, and Teradata
Global cognitive system market has generated a revenue of US$ 8 billion in 2016. By the end of 2025, the cognitive system market is projected to reach US$ 88.14 billion with exhibiting a CAGR of 29.02%.
Market Dynamics:
The increasing unstructured data such as call center transcripts, documents, email messages, social media content, social networking sites contents has become one of the major factors for the growth of the cognitive system market. Moreover, the increasing usage of artificial intelligence in various increasing verticals and constant advancement in data processing technology are the factors fueling the growth of the cognitive system market globally. In addition, the banking end users verticals are driving the growth of the cognitive systems market.
Market Taxonomy:
This report segments the global cognitive system market on the basis of deployment model, technology, end users, and geography. On the basis of deployment model, the market is segmented into cloud and on-premises. Based on technology, the market is segmented into machine learning, natural language processing, planning and scheduling. Also, based on end users, the market is segmented into banking, education, government, healthcare, insurance, manufacturing, security and investment, telecommunications, transportation and others. For a comprehensive understanding of market dynamics, the market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East. Each of these regions is analyzed based on the market findings across major countries in these regions for a macro-level understanding of the market.
Key features of the study:
• This report provides an in-depth analysis of the cognitive system market with market size (US$ Million) and CAGR (%) for the forecast period: 2017–2025, considering 2016 as the base year.
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players.
• It profiles leading players in the global cognitive system market based on the following parameters–company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies.
• Key companies covered as a part of this study include HP, IBM, Microsoft, Accenture, DataStax, EMC, Google, MapR Technologies, SAS Institute, and Teradata.
• Insights from this report will allow marketers and management authorities of companies to make informed decisions with respect to their future product launch, technology upgrades, market expansion, and marketing tactics.
• Various strategy matrices used in analyzing the cognitive system market would provide stakeholders vital inputs to make strategic decisions accordingly.
Detailed Segmentation:
Global Cognitive system Market, By Deployment Model:
Cloud
On-Premises
Global Cognitive system Market, By Technology:
Machine Learning
Natural Language Processing
Planning and scheduling
Global Cognitive system Market, By End Users:
Banking
Education
Government
Healthcare
Insurance
Manufacturing
Security and Investment
Telecommunications
Transportation
Others
Global Cognitive system Market, By Geography:
North America
By Country
U.S.
Canada
By Segmentation
By Deployment Model
Cloud
On-Premises
By Technology
Machine Learning
Natural Language Processing
Planning and scheduling
By End Users
Banking
Education
Government
Healthcare
Insurance
Manufacturing
Security and Investment
Telecommunications
Transportation
Others
Europe
By Country
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
By Segmentation
By Deployment Model
Cloud
On-Premises
By Technology
Machine Learning
Natural Language Processing
Planning and scheduling
By End Users
Banking
Education
Government
Healthcare
Insurance
Manufacturing
Security and Investment
Telecommunications
Transportation
Others
Asia Pacific
By Country
China
India
Japan
Australia
South Korea
ASEAN
Rest Of Asia Pacific
By Segmentation
By Deployment Model
Cloud
On-Premises
By Technology
Machine Learning
Natural Language Processing
Planning and scheduling
By End Users
Banking
Education
Government
Healthcare
Insurance
Manufacturing
Security and Investment
Telecommunications
Transportation
Others
Latin America
By Country
Brazil
Mexico
Rest Of Asia Pacific
By Segmentation
By Deployment Model
Cloud
On-Premises
By Technology
Machine Learning
Natural Language Processing
Planning and scheduling
By End Users
Banking
Education
Government
Healthcare
Insurance
Manufacturing
Security and Investment
Telecommunications
Transportation
Others
Africa
By Country
South Africa
Central Africa
North Africa
By Segmentation
By Deployment Model
Cloud
On-Premises
By Technology
Machine Learning
Natural Language Processing
Planning and scheduling
By End Users
Banking
Education
Government
Healthcare
Insurance
Manufacturing
Security and Investment
Telecommunications
Transportation
Others
Middle East
By Country
GCC
Israel
Rest Of Middle East
By Segmentation
By Deployment Model
Cloud
On-Premises
By Technology
Machine Learning
Natural Language Processing
Planning and scheduling
By End Users
Banking
Education
Government
Healthcare
Insurance
Manufacturing
Security and Investment
Telecommunications
Transportation
Others
Company Profiles
HP*
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
IBM
Microsoft
Accenture
DataStax
EMC
Google
MapR Technologies
SAS Institute
Teradata
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
1. Research Objective and assumption
o Research Objectives
o Assumptions
o Abbreviations
2. Market Purview
o Report Description
? Market Definition and Scope
o Executive Summary
? Market Snippet By Deployment Model
? Market Snippet By Application
? Market Snippet By Vertical
? Market Snippet By Region
o Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
o Market Dynamics
? Drivers
? Restraints
? Market Opportunities
? Regulatory Scenario
? Industry Trend
? Merger and Acquisitions
? New Product Approvals/Launch
4. Global Cognitive System Market, By Deployment Model, 2015 - 2025 (USD Million)
o Introduction
? Market Share Analysis, 2016 and 2025 (%)
? Segment Trends
o Cloud
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o On-Premises
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
5. Global Cognitive System Market, By Technology, 2015 - 2025 (USD Million)
o Introduction
? Market Share Analysis, 2016 and 2025 (%)
? Segment Trends
o Machine Learning
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Natural Language Processing
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Planning and scheduling
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
6. Global Cognitive System Market, By Vertical, 2015 - 2025 (USD Million)
o Introduction
? Market Share Analysis, 2016 and 2025 (%)
? Segment Trends
o Banking
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Education
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Government
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Healthcare
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Insurance
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Manufacturing
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Security and Investment
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Telecommunications
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Transportation
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
o Others
? Introduction
? Market Size and Forecast, 2015 - 2025, (USD Million)
7. Global Cognitive System Market, By Regions, 2015 - 2025 (USD Million)
o Introduction
o Market Share Analysis, By Region, 2016 and 2025 (%)
o North America
? By Country
? U.S.
? Canada
? By Segment
? Market Size and Forecast, By Deployment Model, 2015 - 2025 (USD Million)
? Market Size and Forecast, By Technology, 2015 - 2025 (USD Million)
? Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
o Europe
? By Country
? Germany
? UK
? France
? Italy
? Spain
? Russia
? Rest of Europe
? By Segment
? Market Size and Forecast, By Deployment Model, 2015 - 2025 (USD Million)
? Market Size and Forecast, By Technology, 2015 - 2025 (USD Million)
? Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
o Asia Pacific
? By Country
? China
? India
? Japan
? Australia
? South Korea
? ASEAN
? Rest Of Asia Pacific
? By Segment
? Market Size and Forecast, By Deployment Model, 2015 - 2025 (USD Million)
? Market Size and Forecast, By Technology, 2015 - 2025 (USD Million)
? Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
o Latin America
? By Country
? Brazil
? Mexico
? Rest Of Asia Pacific
? By Segment
? Market Size and Forecast, By Deployment Model, 2015 - 2025 (USD Million)
? Market Size and Forecast, By Technology, 2015 - 2025 (USD Million)
? Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
o Africa
? By Country
? South Africa
? Central Africa
? North Africa
? By Segment
? Market Size and Forecast, By Deployment Model, 2015 - 2025 (USD Million)
? Market Size and Forecast, By Technology, 2015 - 2025 (USD Million)
? Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
o Middle East
? By Country
? GCC
? Israel
? Rest Of Middle East
? By Segment
? Market Size and Forecast, By Deployment Model, 2015 - 2025 (USD Million)
? Market Size and Forecast, By Technology, 2015 - 2025 (USD Million)
? Market Size and Forecast, By End Users, 2015 - 2025 (USD Million)
8. Competitive Landscape
o Company Profiles
? HP
? Company Overview
? Product Portfolio
? Financial Performance
? Recent Developments/Updates
? IBM
? Company Overview
? Product Portfolio
? Financial Performance
? Recent Developments/Updates
? Microsoft
? Company Overview
? Product Portfolio
? Financial Performance
? Recent Developments/Updates
? Accenture
? Company Overview
? Product Portfolio
? Financial Performance
? Recent Developments/Updates
? DataStax
? Company Overview
? Product Portfolio
? Financial Performance
? Recent Developments/Updates
? EMC
? Company Overview
? Product Portfolio
? Financial Performance
? Recent Developments/Updates
? Google
? Company Overview
? Product Portfolio
? Financial Performance
? Recent Developments/Updates
? MapR Technologies
? Company Overview
? Product Portfolio
? Financial Performance
? Recent Developments/Updates
? SAS Institute
? Company Overview
? Product Portfolio
? Financial Performance
? Recent Developments/Updates
? Teradata
? Company Overview
? Product Portfolio
? Financial Performance
? Recent Developments/Updates
o Analyst Views
9. Section
o References
o Research Methodology
o About us and Sales Contact
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