Global Cognitive
Computing Market: Overview
Cognitive computing
is a technology platform based on the scientific premises of signal
processing and artificial intelligence. It refers to replicating the
human thought process in a computerized model. Cognitive computing
also comprises self-learning systems that use pattern recognition,
natural language processing, and data mining to mimic the way in
which a human brain works.
Cognitive computing
processes are expected to emerge as next-generation systems as
artificial intelligence slowly becomes a mainstream technology. The
application of cognitive computing processes is therefore touted as
the next-generation systems. Their application has increased in
continually acquiring information based on data fed into them,
subsequently processing the complex information. These systems are
therefore marketed as a means to help companies make better decisions
by deciphering complex and unstructured data.
As business leaders
focus more on their return on investment, the global cognitive
computing market is expected to gain a major boost. According
to industry experts, cognitive computing and artificial intelligence
are expected to emerge as the biggest trends to look out for in 2016.
The report has been compiled to present key insights into various
trends encouraging the rise of the global cognitive computing market.
It examines the influence of various growth drivers and restraints on
the market to present a refined outlook for its growth.
Global Cognitive
Computing Market: Opportunities and Threats
According to
experts, over time, various cognitive computing technologies will be
built to provide customized IT solutions. The technology is expected
to provide human-designed systems and imbue into them a “thinking
ability,” helping organizations to accomplish tasks that they were
unable to before.
The advances in
various enabling technologies, increasingly complex datasets, and the
advent of third computing platforms such as cloud, mobile, analytics,
big data, and social network are expected to drive the global
cognitive computing market. However, challenges such as the lack of
knowledge about enabling technologies and the impact of new
technologies on business applications will threaten the market’s
growth.
Big data is
increasing in volume at a rapid pace owing to the massive
digitization of business operations worldwide. A major chunk of
information received by businesses is in the form of unstructured
data such as images, videos, podcasts, natural language, and symbols.
This in turn necessitates the implementation of a cognitive model to
collate data and provide structured output.
Retail, healthcare,
BFSI, and security industries constitute the major application
segments of cognitive computing. Among these, the market is expected
to witness increasing demand from the healthcare sector. Recent
developments in medical imaging technologies that incorporate
cognitive analytics to help healthcare workers analyze mammogram
images will also augment demand for cognitive computing from the
healthcare sector.
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Global Cognitive
Computing Market: Regional Outlook
Regionally, North
America held the largest share of the market in 2014, followed by
Europe. The market is also expected to see attractive opportunities
in Asia Pacific. The increasing adoption of cloud-based services in
the region, especially across small and medium-scale companies will
translate into increasing demand for cognitive computing from Asia
Pacific.
Global Cognitive
Computing Market: Competitive Insight
To study the
prevailing competition in the market, the report has also profiled
companies such as Microsoft Corporation, IBM Corporation, Nuance
Communications Inc, Google Incorporation, 3M, Statistical Analysis
System (SAS), Tibco Software, Hewlett Packard (HP), SAP, and Oracle
Corporation. Using industry-leading analytical tools, the report
weighs out the strengths and weaknesses of these companies. The
latest strategies adopted by them and their product portfolios are
also studied in the report in detail.
The report offers a
comprehensive evaluation of the market. It does so via in-depth
qualitative insights, historical data, and verifiable projections
about market size. The projections featured in the report have been
derived using proven research methodologies and assumptions. By doing
so, the research report serves as a repository of analysis and
information for every facet of the market, including but not limited
to: Regional markets, technology, types, and applications.
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