Cognitive Computing Market: Natural language processing had 44% of total revenue in 2014

Press Release   •   Jan 03, 2017 01:52 EST


The cognitive computing is an emerging technology which can be used for solving complex data and enhances the productivity of any corporation. The computers using cognitive applications communicate the users in human languages and helpful for decision making applications. There is high scope for the Cognitive Computing Market in various regions across the globe during 2014-2021.

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Scope and Regional Forecast of the Cognitive Computing Market:

In the Cognitive Computing Market, BFSI, healthcare, security, and retail applications are the major application sectors of this market during 2014-2021. The growing advancement in cloud services, hardware and software technologies is anticipated to further enhances its potential through 2021. The natural language processing technology had the maximum share of revenue in the Cognitive Computing Market and anticipated to dominate this market till 2021. The natural language processing and machine learning have generated 44% and 30% of the revenues respectively.

Security and retail applications are anticipated to have fast growth in the Cognitive Computing Market with a growth in CAGR of 35.8% for retails and 36.5% for security during 2015-2021.

The Cognitive Computing Market is a fast growing market with high demand for cognitive computing systems for analytics and other types of applications in various regions across the globe. This market is expected to have high growth owing to the growth in adoption of cognitive computation and cognitive data for analysis by different industrial sectors, increasing expenditure by cognitive computing companies such as IBM for cognitive analytics, cognitive intelligence and cognitive cloud services and huge scope for cognitive computing applications by companies in various regions across the globe during 2014-2021.

Segmentation and Key Players of the Cognitive Computing Market:

The Cognitive Computing Market is segmented into various categories by technology type, by application, by end user, by deployment type and by geography as follows:

By technology type: Natural Language Processing, Machine Learning, Automated Reasoning and others (Information Retrieval)

By application: Healthcare, BFSI, Retail, Government (Defense), IT & Telecom, Security and others (Travel & Tourism, Media and Entertainment, Energy & Power, Research & Education)

By end user: Large Enterprises, Small and medium businesses (SMBs)

By deployment type: On-Premise Software, Cloud-based Services

By geography: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa)

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Some of the key players in the Cognitive Computing Market are as follows:

  • Hewlett Packard (HP)
  • IBM
  • Microsoft Corporation
  • Oracle Corporation
  • Tibco Software

There is high utilization of cognitive apps for various sectors such as BFSI, education and others in various regions across the globe during 2014-2021.

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