According to IMARC Group latest report titled” Cognitive Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a value of US$ 18.1 Billion in 2020.The Global Cognitive Systems Market Size to exhibit strong growth during the next five years. Cognitive systems refer to a program that uses natural language processing and machine learning (ML) to enable effortless interaction between a machine and humans. These systems employ artificial intelligence (AI), automated reasoning, and speech reasoning to analyze a range of data from diverse information sources. Cognitive systems enhance human engagement, knowledge-processing, personalization and are ideal for optimizing adaptive learning. As a result, these programs are extensively applied in the fields of psychology, philosophy, computer science and linguistics.Get a sample copy of this Report: www.imarcgroup.com/cognitive-systems-market/requestsample
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The increasing need to manage large volumes of unstructured data amongst various end-use industries is primarily driving the market growth. Additionally, the emergence of digital banking trends that use cognitive systems to speed up financial operations is acting as a growth-inducing factor. Moreover, the widespread adoption of the technology in the healthcare sector for collecting real-time data about patients is contributing to the market growth. Furthermore, continuous investments by leading players for advancing ML and data processing technologies are creating a positive outlook for the market.
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Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being.
IBM
Infosys
HP Inc.
Microsoft Corporation
SAP SE
Cognitive Systems Market Segmentation:
Our report has categorized the market based on region, function, output, integration and end use industry.
Breakup by Product Type:
Software
Services
Hardware
Breakup by End-Use:
Retail Sector
Healthcare sector
Others
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape