Global Cognitive Computing Market - Forecast 2020 – 2027

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According to the latest report by GMI Research, Cognitive Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2020-2027. The Cognitive Computing Market analyzes the impact of the COVID-19 pandemic and represents that the market is forecasted to bounce back in 2021 over 2020 and estimated to grow at a higher growth rate from 2022 onwards. Cognitive computing refers to the usage of computerized models to simulate human thought processes in complex situations where answers could be uncertain and ambiguous. The technology uses self-learning algorithms through pattern recognition, natural language processing, and data mining, which enables computers to mimic the way human brain works. The cognitive computing system serves as an assistant and gives humans the power of faster and more accurate data analysis without worrying about wrong decisions taken by machine learning systems.

Competitive Landscape: The Cognitive Computing Market report also scans the competitive landscape and profiles the major players operating in the market, including Google LLC, Numenta Inc, SAS Institute, AWS, Cisco Systems Inc, IBM Corporation, Spark Cognition, Microsoft Corporation, CognitiveScale, and Cognitive Software Group.

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The major factors contributing to the growth of the Global Cognitive Computing market include the growing number of complex and large datasets, strong demand for intelligent business processes, emerging evolution in the computing environment, and rising customer engagement through social media platforms at the global level. In today’s world, businesses are focusing on one-to-one interaction with customers on a completely new level. Business-to-customer organizations are adopting cognitive technology to improve the customer shopping experience and to learn about customer requirements. Cognitive computing combines structured and unstructured data, which provides powerful new tools that can analyze and process assisted customer interactions in real-time. For example, Macy’s Inc, one of the department store retailers in the U.S. launched cognitive mobile web tool named Macy’s On Call, which helps shoppers to locate items and enhance in-store experience. The continuous launch of innovative products is responsible for the expansion of cognitive computing market size.

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Market Segments:

Breakup by Component:

·         Platform

·         Service

    • Managed Services
    • Professional Services

Breakup by Technology:


·         Machine Learning (ML)

·         Human Computer Interaction

    • Computer Vision
    • Machine Vision
    • Robotics

·         Natural Language Processing (NLP)

·         Deep Learning

    • Prescriptive and Predictive Modeling
    • Decision Making


Breakup by Application:

·         Automation

·         Intelligent Virtual Assistants

·         Behavioral Analysis

·         Biometrics

·         Others (eLearning and smart education and eTherapy)


Breakup by Deployment Mode


·         On-premise

·         Cloud

·         Hybrid


Breakup by Organization Size


·         Large Enterprises

·         Small and Medium-Sized Enterprises (SMEs)


Breakup by Business Functions


·         Human Resources (HR)

·         Legal

·         Finance

·         Marketing and Advertising

·         Others


Breakup by Industry:

·         BFSI

·         Retail and eCommerce

·         Telecommunication and IT

·         Healthcare and Life Sciences

·         Manufacturing

·         Government and Defense

·         Media and Entertainment

·         Travel and Hospitality

·         Others (Energy and Utilities, Transportation and Logistics, and Education)

Breakup by Region:

·         North America

o    United States of America

o    Canada


·         Asia Pacific

o    China

o    Japan

o    India

o    Rest of APAC


·         Europe

o    United Kingdom

o    Germany

o    France

o    Spain

o    Rest of Europe


·         RoW

o    Brazil

o    South Africa

o    Saudi Arabia

o    UAE

o    Rest of the world (remaining countries of the LAMEA region)


About GMI Research

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