Global Cognitive Computing Market Size By Component, By Deployment Model, By Geographic Scope And Forecast

Report Highlights

Cognitive Computing Market Size And Forecast

Cognitive Computing Market was valued at USD 17.74 Billion in 2019 and is projected to reachUSD 115.79 Billion by 2027, growing at aCAGR of 32.89% from 2020 to 2027.

The Cognitive Computing Market report provides a holistic evaluation of the market for the forecast period. The report comprises of various segments as well an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics, involves the drivers, restraints, opportunities and challenges through which the impact of these factors in the market are outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Cognitive Computing Market study provides an outlook on the development of market in terms of revenue throughout the prognosis period.

Global Cognitive Computing Market Overview

There is an increase in the demand for cognitive systems in large organizations and this is expected to increase in SMBs owing to cloud-based services. As cloud-based deployment decreases the cost of deploying cognitive computing in the organization, there is a subsequent rise in the overall demand for cloud-based services. IBM Watson, a leading player operating within the cognitive computing market, is planning to introduce Watson Analytics cloud-based service in the coming years that would boost the adoption of cognitive computing through cloud. Cognitive computing is gaining momentum in the developed countries. This competent factor of cloud-based services is anticipated to act as an opportunity for growth in global cognitive computing market size.

This report provides an all-inclusive environment of the analysis for the Cognitive Computing Market. The market estimates provided in the report are the result of in-depth secondary research, primary interviews and in-house expert reviews. These market estimates have been considered by studying the impact of various social, political and economic factors along with the current market dynamics affecting the Cognitive Computing Market growth.

Along with the market overview, which comprises of the market dynamics the chapter includes a Porter’s Five Forces analysis which explains the five forces: namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the Cognitive Computing Market. It explains the various participants, such as system integrators, intermediaries and end-users within the ecosystem of the market. The report also focuses on the competitive landscape of the Cognitive Computing Market.