Cognitive Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report
143 Pages
May 2023
Region: Global
IMARC Group
ID: 5820820

The global cognitive computing market size reached US$ 32.8 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 138.8 Billion by 2028, exhibiting a growth rate (CAGR) of 25% during 2023-2028.

Cognitive computing (CC) relies on artificial intelligence (AI), machine learning (ML), natural language understanding (NLU), speech and image recognition, conversant human interface, and distributed and high-performance computing. It offers improved data collection and interpretation, troubleshooting and error detection, and enhanced customer retention to businesses. It also assists in informed and strategic decision-making, smart financial decisions, improving efficiency, and increasing cost savings. As a result, CC finds extensive applications in numerous industry verticals, such as retail, telecommunications, and banking, financial services and insurance (BFSI).

Cognitive Computing Market Trends:

The rising adoption of cutting-edge technologies in small and medium-sized enterprises (SMEs) across the globe represents one of the key factors impelling the growth of the market. Moreover, CC solutions are employed in the healthcare industry as they aid medical professionals in disease diagnosis by processing enormous data rapidly and generating customized smart recommendations. These solutions also aid in providing a better course of treatment for patients. Apart from this, they help improve the delivery of personalized health intervention programs, including lifestyle/behavioral change management. Besides this, they are increasingly being used in delivering actionable sporting tips to athletes during a game or competition and advising investment strategists on leveraging information to make decisions while buying or selling in a marketplace. In addition, they can be utilized in assessing risks in real-time, producing accurate results, and understanding human language to interact with customers and workers. CC solutions are also useful in mining structured and unstructured data and offering hypotheses and explanations for consideration by humans. This, coupled with the thriving information technology (IT) industry, is projected to drive the market in the coming years.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global cognitive computing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, deployment type, enterprise size and industry vertical.

Breakup by Technology:

Natural Language Processing
Machine Learning
Automated Reasoning
Others

Breakup by Deployment Type:

On-premises
Cloud-based

Breakup by Enterprise Size:

Small and Medium-sized Enterprises
Large Enterprises

Breakup by Industry Vertical:

Healthcare
BFSI
Retail
Government
IT and Telecom
Energy and Power
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Acuiti Group, Cisco Systems Inc., Enterra Solutions LLC, Expert .AI, e-Zest Solutions Ltd, Google LLC (Alphabet Inc.), International Business Machines Corporation, Marlabs LLC, Microsoft Corporation, Red Skios Ltd., Sas Institute Inc., Tata Consultancy Services Ltd., Vantage Labs LLC and Virtusa Corporation.

Key Questions Answered in This Report:

What was the size of the global cognitive computing market in 2022?
What is the expected growth rate of the global cognitive computing market during 2023-2028?
What has been the impact of COVID-19 on the global cognitive computing market?
What are the key factors driving the global cognitive computing market?
What is the breakup of the global cognitive computing market based on the technology?
What is the breakup of the global cognitive computing market based on the deployment type?
What is the breakup of the global cognitive computing market based on enterprise size?
What is the breakup of the global cognitive computing market based on the industry vertical?
What are the key regions in the global cognitive computing market?
Who are the key players/companies in the global cognitive computing market?

1 Preface

2 Scope and Methodology

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

4.1 Overview
4.2 Key Industry Trends

5 Global Cognitive Computing Market

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Technology

6.1 Natural Language Processing
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Machine Learning
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Automated Reasoning
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast

7 Market Breakup by Deployment Type

7.1 On-premises
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Cloud-based
7.2.1 Market Trends
7.2.2 Market Forecast

8 Market Breakup by Enterprise Size

8.1 Small and Medium-sized Enterprises
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Large Enterprises
8.2.1 Market Trends
8.2.2 Market Forecast

9 Market Breakup by Industry Vertical

9.1 Healthcare
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 BFSI
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Retail
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Government
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 IT and Telecom
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Energy and Power
9.6.1 Market Trends
9.6.2 Market Forecast
9.7 Others
9.7.1 Market Trends
9.7.2 Market Forecast

10 Market Breakup by Region

10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast

11 SWOT Analysis

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 Value Chain Analysis

13 Porters Five Forces Analysis

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 Price Analysis

15 Competitive Landscape

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Acuiti Group
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Cisco Systems Inc.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3 Enterra Solutions LLC
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 Expert .AI
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.5 e-Zest Solutions Ltd
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.6 Google LLC (Alphabet Inc.)
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 SWOT Analysis
15.3.7 International Business Machines Corporation
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 Marlabs LLC
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Microsoft Corporation
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 Red Skios Ltd.
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.11 Sas Institute Inc.
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 SWOT Analysis
15.3.12 Tata Consultancy Services Ltd.
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.12.3 Financials
15.3.12.4 SWOT Analysis
15.3.13 Vantage Labs LLC
15.3.13.1 Company Overview
15.3.13.2 Product Portfolio
15.3.14 Virtusa Corporation
15.3.14.1 Company Overview
15.3.14.2 Product Portfolio
15.3.14.3 SWOT Analysis

List of Figures

Figure 1: Global: Cognitive Computing Market: Major Drivers and Challenges
Figure 2: Global: Cognitive Computing Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Cognitive Computing Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Cognitive Computing Market: Breakup by Technology (in %), 2022
Figure 5: Global: Cognitive Computing Market: Breakup by Deployment Type (in %), 2022
Figure 6: Global: Cognitive Computing Market: Breakup by Enterprise Size (in %), 2022
Figure 7: Global: Cognitive Computing Market: Breakup by Industry Vertical (in %), 2022
Figure 8: Global: Cognitive Computing Market: Breakup by Region (in %), 2022
Figure 9: Global: Cognitive Computing (Natural Language Processing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Cognitive Computing (Natural Language Processing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Cognitive Computing (Machine Learning) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Cognitive Computing (Machine Learning) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Cognitive Computing (Automated Reasoning) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Cognitive Computing (Automated Reasoning) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Cognitive Computing (Other Technologies) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Cognitive Computing (Other Technologies) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Cognitive Computing (On-premises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Cognitive Computing (On-premises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Cognitive Computing (Cloud-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Cognitive Computing (Cloud-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Cognitive Computing (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Cognitive Computing (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Cognitive Computing (Large Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Cognitive Computing (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Cognitive Computing (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Cognitive Computing (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Cognitive Computing (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Cognitive Computing (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Cognitive Computing (Retail) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Cognitive Computing (Retail) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Cognitive Computing (Government) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Cognitive Computing (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Cognitive Computing (IT and Telecom) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Cognitive Computing (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Cognitive Computing (Energy and Power) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Cognitive Computing (Energy and Power) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Global: Cognitive Computing (Other Industry Verticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Global: Cognitive Computing (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: North America: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: North America: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: United States: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: United States: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Canada: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Canada: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Asia-Pacific: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Asia-Pacific: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: China: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: China: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Japan: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Japan: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: India: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: India: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: South Korea: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: South Korea: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Australia: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Australia: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Indonesia: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Indonesia: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Others: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Others: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Europe: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Europe: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Germany: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Germany: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: France: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: France: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: United Kingdom: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: United Kingdom: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Italy: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Italy: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Spain: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Spain: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Russia: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Russia: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Others: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Others: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Latin America: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Latin America: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Brazil: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Brazil: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Mexico: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Mexico: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Others: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Others: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Middle East and Africa: Cognitive Computing Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Middle East and Africa: Cognitive Computing Market: Breakup by Country (in %), 2022
Figure 87: Middle East and Africa: Cognitive Computing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 88: Global: Cognitive Computing Industry: SWOT Analysis
Figure 89: Global: Cognitive Computing Industry: Value Chain Analysis
Figure 90: Global: Cognitive Computing Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Cognitive Computing Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Cognitive Computing Market Forecast: Breakup by Technology (in Million US$), 2023-2028
Table 3: Global: Cognitive Computing Market Forecast: Breakup by Deployment Type (in Million US$), 2023-2028
Table 4: Global: Cognitive Computing Market Forecast: Breakup by Enterprise Size (in Million US$), 2023-2028
Table 5: Global: Cognitive Computing Market Forecast: Breakup by Industry Vertical (in Million US$), 2023-2028
Table 6: Global: Cognitive Computing Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Cognitive Computing Market: Competitive Structure
Table 8: Global: Cognitive Computing Market: Key Players

Companies Mentioned

Acuiti Group
Cisco Systems Inc.
Enterra Solutions LLC
Expert .AI
e-Zest Solutions Ltd
Google LLC (Alphabet Inc.)
International Business Machines Corporation
Marlabs LLC
Microsoft Corporation
Red Skios Ltd.
Sas Institute Inc.
Tata Consultancy Services Ltd.
Vantage Labs LLC and Virtusa Corporation.

Methodology

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Table Information

Report Attribute	Details
No. of Pages	143
Published	May 2023
Forecast Period	2022 - 2028
Estimated Market Value ( USD ) in 2022	$ 32.8 Billion
Forecasted Market Value ( USD ) by 2028	$ 138.8 Billion
Compound Annual Growth Rate	27.2%
Regions Covered	Global
No. of Companies Mentioned	13

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