Press release
Cognitive Computing Market Predicted to Achieve USD 333.53 Billion Value by 2032 with 27.2% Growth Rate
Cognitive Computing Market
The growing demand for cognitive computing can be attributed to the progression of the Internet of Things (IoT) and the escalating demand for cognitive systems with extensive firms. Our thorough analysis of the Cognitive Computing Market covers the industry size, share, recent developments, and top trends. Besides, we have in-depth examined all the major regions and segments.
๐๐ก๐ ๐๐จ๐ ๐ง๐ข๐ญ๐ข๐ฏ๐ ๐๐จ๐ฆ๐ฉ๐ฎ๐ญ๐ข๐ง๐ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐
๐๐๐ซ๐ค๐๐ญ ๐๐ข๐ณ๐: The global market for cognitive computing was valued at USD 38.13 billion in 2023 and is projected to grow to USD 333.53 billion by 2032.
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐๐ญ๐: The industry is anticipated to exhibit a compound annual growth rate (CAGR) of 27.2% over the forecast period from 2024-2032.
๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ ๐๐จ๐ฏ๐๐ซ๐๐: The cognitive computing market is primarily segmented based on technology, deployment, application, and region.
๐๐๐ ๐ข๐จ๐ง๐ฌ ๐๐จ๐ฏ๐๐ซ๐๐: North America, Europe, Asia Pacific, Latin America; Middle East & Africa.
๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/cognitive-computing-market/request-for-sample
๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ
Cognitive computing is the usage of automated representation to replicate human conviction procedures in intricate situations where the responses might be obscure and unknown. Computers are speedier than humans at refining and computing, but they have to learn some chores, such as comprehending natural language and identifying gadgets in an image. It is an endeavor to have computers imitate the way the human brain operates. The mastering techniques can be utilized for attitude analysis, probability estimations, and face discernment. Further, cognitive computing is especially handy in arenas such as banking, healthcare, finance, and retail.
๐๐จ๐ฆ๐ฉ๐๐ง๐ฒ ๐๐ง๐๐ฉ๐ฌ๐ก๐จ๐ญ
Industry players are growingly concentrating on acquiring AI platforms by obtaining proportionately compact industry contestants and alternate ecosystem players. Market leaders in the cognitive computing market are enumerated as follows:
โข Cold Light
โข Cognitive Scale
โข Enterra Solutions
โข Google, Inc.
โข IBM Corporation
โข Microsoft Corporation
โข Oracle Corporation
โข Palantir
โข Saffron Technology
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/buy/236/2
๐๐จ๐ ๐ง๐ข๐ญ๐ข๐ฏ๐ ๐๐จ๐ฆ๐ฉ๐ฎ๐ญ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ
โข In 2022, natural language processing segment held the largest revenue share in the cognitive computing market. NLP is widely used in a wide range of applications, including text summarization, sentiment analysis, autocorrection, auto-completion, speech recognition, and a variety of others. NLP technology frequently addresses critical functionalities such as language identification, translation, and hierarchical extraction. Natural language processing's inherent capabilities contribute significantly to the market growth.
โข The cloud deployment segment accounted for the highest market share during the forecast period. Cloud deployment functionality provides numerous benefits, including cost efficiency, stability, reliability, and the elimination of physical servers. These advantages contribute to the reduction of initial Capital Expenditures (CAPEX) and facilitate budget planning, ultimately enhancing the return on investment for organizations.
โข In 2022, North America accounted for the largest market share in the cognitive computing market. Due to increasing economic advancements and increased consumer purchasing power, as well as the prominent presence of industry giants in AI and cognitive computing such as Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure, there is a prevalent trend of deploying their services across various industries.
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ
โข Technological progression: The progression in flexible technology, with firms globally seeking methodologies to procure important perceptions from the massive repository of digital data.
โข Advancements in R&D: Cognitive computing has acquired massive traction lately as substantial research and development endeavors have notably enhanced the presentation of these technologies.
๐๐๐๐๐ฌ๐ฌ ๐๐ก๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ, ๐ก๐๐ซ๐: https://www.polarismarketresearch.com/industry-analysis/cognitive-computing-market
๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐ก๐๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐๐ ๐ญ๐ก๐ ๐๐จ๐ ๐ง๐ข๐ญ๐ข๐ฏ๐ ๐๐จ๐ฆ๐ฉ๐ฎ๐ญ๐ข๐ง๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฌ๐๐ ๐จ๐ง ๐ญ๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ, ๐๐๐ฉ๐ฅ๐จ๐ฒ๐ฆ๐๐ง๐ญ, ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง:
Cognitive Computing, Technology Outlook (Revenue - USD Billion, 2019 - 2032)
โข Natural Language Processing
โข Machine Learning
โข Automated Reasoning
โข Others
Cognitive Computing, Deployment Outlook (Revenue - USD Billion, 2019 - 2032)
โข On-Premise
โข Cloud
Cognitive Computing, Application Outlook (Revenue - USD Billion, 2019 - 2032)
โข Healthcare
โข Retail
โข BFSI
โข IT & Telecom
โข Government & Defense
โข Security
โข Others
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ญ๐๐ฌ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ง๐๐จ:
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Email: sales@polarismarketresearch.com
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