The cognitive cloud computing market size has grown exponentially in recent years. It will grow from $32.21 billion in 2023 to $42.36 billion in 2024 at a compound annual growth rate (CAGR) of 31.5%. The growth in the historic period can be attributed to adoption of cloud computing infrastructure and services, demand for data analytics and insights across various industries, expansion of hybrid and multi-cloud strategies, and rise of Internet of Things (IoT) devices.
The cognitive cloud computing market size is expected to see exponential growth in the next few years. It will grow to $127.99 billion in 2028 at a compound annual growth rate (CAGR) of 31.8%. The growth in the forecast period can be attributed to increasing adoption of AI and machine learning, growing need for advanced cloud computing solutions, proliferation of Internet of Things (IoT) devices, rise of personalized customer experiences, and demand for cost-efficient IT solutions. Major trends in the forecast period include increased adoption of cognitive cloud computing solutions, increasing adopt hybrid and multi-cloud strategies, integration of AI technologies, growing trend towards incorporating cognitive capabilities into edge computing environments, and increasing regulatory requirements.
The growth of raw data volumes is anticipated to drive the expansion of the cognitive cloud computing market in the coming years. Raw data refers to unprocessed, unorganized, and unstructured information collected directly from its source, without undergoing any analysis, transformation, or manipulation. The surge in raw data volumes is attributed to the widespread use of digital devices, the expansion of online activities, the proliferation of Internet of Things (IoT) devices, and the increasing digitization across various industries. Cognitive cloud computing leverages advanced AI algorithms to effectively manage and analyze large volumes of data, enabling faster insights and decision-making through automated learning and adaptable features. For example, data from the Linux Foundation in December 2022 indicated significant annual data growth for organizations with storage capacities of up to 20 petabytes and up to 25 petabytes, driving the need for cognitive cloud computing solutions.
Key players in the cognitive cloud computing market are focusing on developing innovative solutions such as generative artificial intelligence (AI) and AI-based cognitive intelligence platforms to gain a competitive advantage. A generative artificial intelligence (AI)-based cognitive intelligence platform integrates generative AI techniques with cognitive computing capabilities to create intelligent and adaptable solutions. For instance, Mphasis, an India-based IT solutions company, launched DeepInsights Doc AI in March 2024. This cognitive intelligence platform powered by generative AI revolutionizes document processing by extracting context-specific information from documents and seamlessly integrating it with downstream IT systems. DeepInsights Doc AI can handle various content types, including text, forms, tables, and images, while accurately extracting relevant information.
In September 2021, Movius Interactive Corporation, a US-based cloud-based communications company, acquired Intentico Inc., a US-based software development company specializing in cognitive cloud computing services, to enhance its offerings in secure unified communications.
Major companies operating in the cognitive cloud computing market are Alphabet Inc., Microsoft Corporation, Alibaba Group Holding Limited, Dell Inc., Amazon Web Services, Accenture plc, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Cisco Systems Inc., PricewaterhouseCoopers International Limited, Oracle Corporation, SAP SE, NVIDIA Corporation, Hewlett Packard Enterprise Company, Tata Consultancy Services Limited, Salesforce.com Inc., Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Adobe Inc., VMware Inc., HCL Technologies Limited, Wipro Limited, Red Hat Inc., BMC Software Inc., Mphasis Limited.
North America was the largest region in the cognitive cloud computing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive cloud computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cognitive cloud computing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Cognitive cloud computing is the fusion of cognitive computing capabilities with cloud computing platforms and services. It involves utilizing advanced technologies to enable computers to mimic human thought processes and perform tasks that traditionally require human intelligence. This integration combines the scalability and flexibility of cloud computing with the intelligence and adaptability of cognitive technologies, empowering organizations to harness data-driven insights and deliver more intelligent and personalized experiences to users.
The primary categories of cognitive cloud computing include on-premises software and cloud-based services. On-premises software refers to computer programs and applications installed and operated on computers or servers within an organization's premises, rather than being hosted on remote servers or in the cloud. Various cognitive technologies involved in this computing include natural language processing, machine learning, automated reasoning, among others. Cognitive cloud computing finds applications across various sectors such as healthcare, banking and financial services, retail, government, information technology (IT) and telecommunications, security, and others, catering to diverse end-users including large enterprises and small and medium businesses (SMEs).
The cognitive cloud computing market research report is one of a series of new reports that provides cognitive cloud computing market statistics, including cognitive cloud computing industry global market size, regional shares, competitors with a cognitive cloud computing market share, detailed cognitive cloud computing market segments, market trends and opportunities, and any further data you may need to thrive in the cognitive cloud computing industry. This cognitive cloud computing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cognitive cloud computing market includes revenues earned by entities by providing services such as image and speech recognition, cognitive search, and predictive analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. The cognitive cloud computing market also includes sales of image and video analysis platforms, predictive analytics solutions, data analytics platforms, and cloud platforms. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The cognitive cloud computing market size is expected to see exponential growth in the next few years. It will grow to $127.99 billion in 2028 at a compound annual growth rate (CAGR) of 31.8%. The growth in the forecast period can be attributed to increasing adoption of AI and machine learning, growing need for advanced cloud computing solutions, proliferation of Internet of Things (IoT) devices, rise of personalized customer experiences, and demand for cost-efficient IT solutions. Major trends in the forecast period include increased adoption of cognitive cloud computing solutions, increasing adopt hybrid and multi-cloud strategies, integration of AI technologies, growing trend towards incorporating cognitive capabilities into edge computing environments, and increasing regulatory requirements.
The growth of raw data volumes is anticipated to drive the expansion of the cognitive cloud computing market in the coming years. Raw data refers to unprocessed, unorganized, and unstructured information collected directly from its source, without undergoing any analysis, transformation, or manipulation. The surge in raw data volumes is attributed to the widespread use of digital devices, the expansion of online activities, the proliferation of Internet of Things (IoT) devices, and the increasing digitization across various industries. Cognitive cloud computing leverages advanced AI algorithms to effectively manage and analyze large volumes of data, enabling faster insights and decision-making through automated learning and adaptable features. For example, data from the Linux Foundation in December 2022 indicated significant annual data growth for organizations with storage capacities of up to 20 petabytes and up to 25 petabytes, driving the need for cognitive cloud computing solutions.
Key players in the cognitive cloud computing market are focusing on developing innovative solutions such as generative artificial intelligence (AI) and AI-based cognitive intelligence platforms to gain a competitive advantage. A generative artificial intelligence (AI)-based cognitive intelligence platform integrates generative AI techniques with cognitive computing capabilities to create intelligent and adaptable solutions. For instance, Mphasis, an India-based IT solutions company, launched DeepInsights Doc AI in March 2024. This cognitive intelligence platform powered by generative AI revolutionizes document processing by extracting context-specific information from documents and seamlessly integrating it with downstream IT systems. DeepInsights Doc AI can handle various content types, including text, forms, tables, and images, while accurately extracting relevant information.
In September 2021, Movius Interactive Corporation, a US-based cloud-based communications company, acquired Intentico Inc., a US-based software development company specializing in cognitive cloud computing services, to enhance its offerings in secure unified communications.
Major companies operating in the cognitive cloud computing market are Alphabet Inc., Microsoft Corporation, Alibaba Group Holding Limited, Dell Inc., Amazon Web Services, Accenture plc, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Cisco Systems Inc., PricewaterhouseCoopers International Limited, Oracle Corporation, SAP SE, NVIDIA Corporation, Hewlett Packard Enterprise Company, Tata Consultancy Services Limited, Salesforce.com Inc., Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Adobe Inc., VMware Inc., HCL Technologies Limited, Wipro Limited, Red Hat Inc., BMC Software Inc., Mphasis Limited.
North America was the largest region in the cognitive cloud computing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive cloud computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cognitive cloud computing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Cognitive cloud computing is the fusion of cognitive computing capabilities with cloud computing platforms and services. It involves utilizing advanced technologies to enable computers to mimic human thought processes and perform tasks that traditionally require human intelligence. This integration combines the scalability and flexibility of cloud computing with the intelligence and adaptability of cognitive technologies, empowering organizations to harness data-driven insights and deliver more intelligent and personalized experiences to users.
The primary categories of cognitive cloud computing include on-premises software and cloud-based services. On-premises software refers to computer programs and applications installed and operated on computers or servers within an organization's premises, rather than being hosted on remote servers or in the cloud. Various cognitive technologies involved in this computing include natural language processing, machine learning, automated reasoning, among others. Cognitive cloud computing finds applications across various sectors such as healthcare, banking and financial services, retail, government, information technology (IT) and telecommunications, security, and others, catering to diverse end-users including large enterprises and small and medium businesses (SMEs).
The cognitive cloud computing market research report is one of a series of new reports that provides cognitive cloud computing market statistics, including cognitive cloud computing industry global market size, regional shares, competitors with a cognitive cloud computing market share, detailed cognitive cloud computing market segments, market trends and opportunities, and any further data you may need to thrive in the cognitive cloud computing industry. This cognitive cloud computing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cognitive cloud computing market includes revenues earned by entities by providing services such as image and speech recognition, cognitive search, and predictive analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. The cognitive cloud computing market also includes sales of image and video analysis platforms, predictive analytics solutions, data analytics platforms, and cloud platforms. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Cognitive Cloud Computing Market Characteristics3. Cognitive Cloud Computing Market Trends and Strategies32. Global Cognitive Cloud Computing Market Competitive Benchmarking33. Global Cognitive Cloud Computing Market Competitive Dashboard34. Key Mergers and Acquisitions in the Cognitive Cloud Computing Market
4. Cognitive Cloud Computing Market - Macro Economic Scenario
5. Global Cognitive Cloud Computing Market Size and Growth
6. Cognitive Cloud Computing Market Segmentation
7. Cognitive Cloud Computing Market Regional and Country Analysis
8. Asia-Pacific Cognitive Cloud Computing Market
9. China Cognitive Cloud Computing Market
10. India Cognitive Cloud Computing Market
11. Japan Cognitive Cloud Computing Market
12. Australia Cognitive Cloud Computing Market
13. Indonesia Cognitive Cloud Computing Market
14. South Korea Cognitive Cloud Computing Market
15. Western Europe Cognitive Cloud Computing Market
16. UK Cognitive Cloud Computing Market
17. Germany Cognitive Cloud Computing Market
18. France Cognitive Cloud Computing Market
19. Italy Cognitive Cloud Computing Market
20. Spain Cognitive Cloud Computing Market
21. Eastern Europe Cognitive Cloud Computing Market
22. Russia Cognitive Cloud Computing Market
23. North America Cognitive Cloud Computing Market
24. USA Cognitive Cloud Computing Market
25. Canada Cognitive Cloud Computing Market
26. South America Cognitive Cloud Computing Market
27. Brazil Cognitive Cloud Computing Market
28. Middle East Cognitive Cloud Computing Market
29. Africa Cognitive Cloud Computing Market
30. Cognitive Cloud Computing Market Competitive Landscape and Company Profiles
31. Cognitive Cloud Computing Market Other Major and Innovative Companies
35. Cognitive Cloud Computing Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Cognitive Cloud Computing Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on cognitive cloud computing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
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- Measure the impact of high global inflation on market growth.
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- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for cognitive cloud computing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cognitive cloud computing market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Type: on-Premises Software; Cloud-Based Services2) by Technology: Natural Language Processing; Machine Learning; Automated Reasoning; Other Technologies
3) by Application: Healthcare; Banking, Financial Services, and Insurance (BFSI); Retail; Government; Information Technology (IT) and Telecommunication; Security; Other Applications
4) by End-User: Large Enterprises; Small and Medium Businesses (SMEs)
Key Companies Mentioned: Alphabet Inc.; Microsoft Corporation; Alibaba Group Holding Limited; Dell Inc.; Amazon Web Services
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Alphabet Inc.
- Microsoft Corporation
- Alibaba Group Holding Limited
- Dell Inc.
- Amazon Web Services
- Accenture plc
- International Business Machines Corporation
- Deloitte Touche Tohmatsu Limited
- Cisco Systems Inc.
- PricewaterhouseCoopers International Limited
- Oracle Corporation
- SAP SE
- NVIDIA Corporation
- Hewlett Packard Enterprise Company
- Tata Consultancy Services Limited
- Salesforce.com Inc.
- Capgemini SE
- Cognizant Technology Solutions Corporation
- Infosys Limited
- Adobe Inc.
- VMware Inc.
- HCL Technologies Limited
- Wipro Limited
- Red Hat Inc.
- BMC Software Inc.
- Mphasis Limited
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | June 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 42.36 Billion |
Forecasted Market Value ( USD | $ 127.99 Billion |
Compound Annual Growth Rate | 31.8% |
Regions Covered | Global |