Cognitive Cloud Market Synopsis:
The data analysts at Market Research Future Reports (MRFR) have revealed that the global cognitive cloud market is predicted to value USD 3.42 billion, thriving at a CAGR of 16% during the assessment period from 2017 to 2023. The increasing need for content personalization is a pivotal factor driving the global cognitive cloud market 2020. On the other hand, the growing adoption of Internet of Things (IoT) is estimated to another significant factor propelling the market expansion. Besides, the increasing usage of Cognitive Cloud Market in various sectors is further likely to expand the market. Application of cognitive cloud in healthcare assists in gathering the important information, which saves time and also, it is affordable, which enhances the demand. In addition, the demand for real time data evaluation is increasing at a fast pace which is additionally driving the global market.
However, the spread of COVID-19 has resulted in a significant change in global market dynamics. Precise research is being conducted on the aftermath of coronavirus on the global cognitive cloud market. We will provide an impact analysis report on COVID-19.
Major Key Players:
The established competitors of the global cognitive cloud market are ColdLight Solutions (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Spark Cognition, Inc. (U.S.), CognitiveScale (U.S.), Google, Inc. (U.S.), Enterra Solutions LLC (U.S.), Numenta (U.S.), Vicarious (U.S.), Saffron Technology (U.S.), and a few others.
The worldwide cognitive cloud market can be divided on the basis of service, technology, end-user, vertical, and region.
- On the grounds of service, the worldwide cognitive cloud market can be divided into professional service and managed service.
- On the grounds of technology, the worldwide cognitive cloud market can be divided into Natural Language Processing, Automated Reasoning, Machine Learning, and others.
- On the grounds of end-user, the worldwide cognitive cloud market can be divided into Large Enterprises and SMEs.
- On the grounds of vertical, the worldwide cognitive cloud market can be divided into BFSI, Oil & Gas, Healthcare, Aerospace & Defense, Consumer Electronics & Retail, Travel & Tourism, I.T. & Telecommunication, and others.
- On the grounds of geography, the worldwide cognitive cloud market can be divided into North America, Asia Pacific, Europe and Rest of the World (RoW).
Regions like North America, Asia Pacific, Europe and Rest of the World (RoW) have been examined thoroughly. As per the study conducted by MRFR, the global market is anticipated to be reigned by North America. North America is projected to occupy the maximum market share during the period of assessment. The most significant reason responsible for regional expansion is the prevailing technical development.
Besides, the growing demand for real time data analysis is another pivotal factor resulting in the regional expansion of the market. The market expansion in North America is mainly attributed to the participation of the U.S. and Canada. Moreover, the region is well-established, with developed infrastructure which enables the deployment of advanced technologies. Moreover, the growing demand for internet of things is projected to be another pivotal factor leading to market growth. Also, the augmenting demand for cloud platforms for regulating applications in the region is estimated to play an important role in market growth. On the other side, Asia-Pacific is projected to thrive at the maximum CAGR during the assessment period. The presence of emerging countries like Japan, India, and China are anticipated to make the most substantial contribution during the assessment period.
However, market dynamics are likely to change significantly during the review period. Several regions have been influenced substantially due to the spread of pandemic coronavirus.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
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List of Tables
Table 1 Cognitive Cloud Market, By Technology
Table 2 Cognitive Cloud Market, By Service
Table 3 Cognitive Cloud Market, By End User
List of Figures
Figure 1 Research Type
Figure 2 Cognitive Cloud Market, By Technology (%)
Figure 3 Cognitive Cloud Market, By Service (%)
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