New York, According to a new market research report published by Global Insight Services “Cognitive Computing Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Cognitive computing is an area of artificial intelligence that deals with the simulation of human thought processes in a computerized model. It is also known as artificial general intelligence.
Cognitive computing systems are designed to learn and interact with humans in a natural way, and to solve problems that are too difficult for traditional computer systems. They are able to do this by mimicking the way the human brain works, and by using techniques from a variety of AI fields such as machine learning, natural language processing, and computer vision.
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Key Trends
Cognitive computing technology is constantly evolving, but some key trends include the following:
-More sophisticated artificial intelligence (AI) algorithms: Machine learning algorithms are becoming more sophisticated, able to learn and adapt more quickly and accurately. This is enabling cognitive computing systems to become more intelligent and human-like in their abilities.
-Increased use of natural language processing (NLP): NLP is a key technology for cognitive computing, as it enables computers to understand human language. This is an important trend as it allows cognitive systems to better interact with humans and understand their needs.
-More data: Another key trend is the increasing amount of data that is available for cognitive systems to learn from. This data can come from a variety of sources, such as social media, sensors, and IoT devices.
-Increased computing power: With more powerful processors and GPUs, cognitive computing systems are able to handle more data and run more complex algorithms. This trend is important for continued progress in cognitive computing.
Key Drivers
There are a few key drivers of the cognitive computing market. First, the increasing amount of data being generated is driving the need for more sophisticated methods of analyzing this data. Second, the need for faster and more accurate decision making is driving the need for cognitive computing. Third, the increasing complexity of the world is driving the need for more intelligent systems. Finally, the advancement of artificial intelligence (AI) is providing the technology necessary to develop cognitive computing systems.
Market Segments
The cognitive computing market report is bifurcated on the basis of technology, deployment mode, organization size, industry vertical, and region. On the basis of technology, it is segmented into natural language processing, machine learning, automated reasoning, and others. Based on deployment mode, it is analyzed across on-premises and cloud. By organization size, it is categorized into small & medium enterprises and large enterprise. By industry vertical, it is divided into BFSI, IT & telecom, healthcare, retail, manufacturing, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Players
The cognitive computing market report includes players such as Google, IBM, Microsoft Corporation, Oracle Corporation, SAP, Saffron Technology, Cognitive Scale, Numenta, Palantir, and, Tibco Software.
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Reasons to buy Cognitive Computing Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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