The rising trend of advanced technologies such as IoT and other technologies is directly influencing the growth of the global cognitive computing market

WILMINGTON, DE, UNITED STATES, October 11, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” Growing with 31.3% of CAGR | The Global Cognitive Computing Market Size Reach USD 476.8 Billion by 2032 .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global cognitive computing market was valued at $32.2 billion in 2022, and is projected to reach $476.8 billion by 2032, growing at a CAGR of 31.3% from 2023 to 2032.

Request Sample Report (Get Full Insights in PDF – 285 Pages) at: https://www.alliedmarketresearch.com/request-sample/677

The global cognitive computing market is driven by several factors, such as advancements in enabling technology, an increase in the volume of large complex data, and the evolutions in computing platforms. However, the high cost of deploying cognitive computing systems, and lack of awareness are expected to hamper market growth. Furthermore, the impact on business applications is expected to create numerous opportunities for cognitive computing solutions in the upcoming years.

The cognitive computing market is segmented into technology, deployment type, enterprise size, industry vertical, and region. By technology, it is categorized into natural language processing, machine learning, automated reasoning, and others. On the basis of deployment type, it is divided into on-premise and cloud. Further, on the basis of enterprise size, it is classified into large enterprises and small and medium enterprises. Depending on industry vertical, it is segregated into healthcare, BFSI, retail, government & defense, IT & telecom, energy & power, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

If you have any questions, Please feel free to contact our analyst at: https://www.alliedmarketresearch.com/connect-to-analyst/677

Based on technology, the natural language processing (NLP) segment accounted for the largest share in 2022, contributing to around two-fifths of the global cognitive computing market revenue, and is expected to maintain its lead position during the forecast period. Owing to the growth in the usage of NLP solutions in several industries. However, the automated reasoning segment is expected to portray the largest CAGR of 35.5% from 2023 to 2032. It provides several advantages such as reducing costs, supporting business, and effectively controlling the business environment in the organization.

Based on deployment type, the on-premise segment held the highest market share in 2022, accounting for more than three-fifths of the global cognitive computing market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the high level of security and cost efficiency provided by the on-premise solutions. However, the cloud segment is projected to manifest the highest CAGR of 33.0% from 2023 to 2032. This is because the businesses intending to implement cognitive computing technologies find cloud computing’s benefits, such as scalability, flexibility, and lower infrastructure costs, compelling.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/677

Based on region, the North America segment held the highest market share in 2022, garnering nearly two-fifths of the global cognitive computing market revenue. The increase in the usage of cognitive computing solutions in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, the Asia-Pacific is expected to maintain its dominance by 2032. The same region would also display the fastest CAGR of 35.3% from 2023 to 2032. Owing to an increase in penetration of digitalization and higher adoption of cloud-based solutions.

Key players profiled in industry include Oracle Corporation, SAS Institute Inc., Tibco Software Inc., 3M, TATA Consultancy Services Limited, SAP SE, Microsoft Corporation, IBM Corporation, Hewlett Packard Enterprise Development LP, Google LLC. Market players have adopted various strategies, such as product launches, collaboration & partnership, joint ventures, and acquisition to expand their foothold in the industry 4.0 industry.

Buy Now & Get Upto 50% Discount on this Report (285 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/cognitive-computing-market/purchase-options

COVID-19 Scenario:

● The cognitive computing market witnessed stable growth during the COVID-19 pandemic, owing to the dramatically increased dependence on digital devices. The surge in online presence of people during the period of COVID-19-induced lockdowns and social distancing policies fueled the need for cognitive computing solutions.

● In addition, with most of the population confined in homes during the early stages of the COVID-19 pandemic, businesses needed to optimize their business operations and offerings to maximize their revenue opportunities while optimizing their operations to support the rapidly evolving business environment. This impacted positively on the growth of the global cognitive computing market.

Thanks for reading this article, you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Similar Reports:

1. SOC as a Service Market : https://www.alliedmarketresearch.com/soc-as-a-service-market-A14544

2. AI in Cybersecurity Market : https://www.alliedmarketresearch.com/ai-in-cybersecurity-market-A185408

About Us:

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Sachin Bhandare
Allied Market Research INC
77559 33377
email us here
Visit us on social media:
Facebook
X
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.