Cognitive Systems Spending Market
2020 Analysis and Review Cognitive Systems Spending Market by Technology Type - Natural Language Processing, Machine Learning, Automated Reasoning for 2020 - 2030
- 2017-01-09
- REP-GB-2616
- 35 Tables
- 148 Figures
- 308 pages
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An Incisive, In-depth Analysis on the Cognitive Systems Spending Market
This study offers a comprehensive, 360 degree analysis on the Cognitive Systems Spending market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Cognitive Systems Spending market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
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Request Covid -19 ImpactBanking segment to cement its Dominance in the Global Cognitive Systems Spending Market in the Coming Years
In banking, cognitive systems are used for customer service, advisory and decision-making support, investment consulting, and others. The banking sector is the most attractive vertical segment in the global cognitive systems spending market. In terms of value, the banking segment is expected to gain a significant BPS in the global cognitive systems spending market over the forecast period. The banking segment was estimated to account for more than 20% value share towards the end of 2019 and is expected to expand at a high CAGR of 15.5% than other segments of the global cognitive systems spending market during the period of forecast.
Also, cognitive analytics, in contrast, allows crunching a company’s big data as well as external information sources to forecast future events and behaviours as well as gives recommendations on the most rational behaviour in a given context. Cognitive systems allow conducting what-if analyses to predict the effect of potential changes in business strategies.
Ability to diffuse huge data in the banking sector likely to boost the global cognitive systems spending market
The global cognitive systems spending market is experiencing numerous technological advancements permitted with exceptional features for several industries especially in the banking sector. Cognitive systems with high-definition technology can help in determining the world’s most composite data analysis difficulties by entering into the complexity of exploiting the power of big data, machine learning, natural language processing, and automated reasoning technology. Some advances in technology would further benefit the diffusion of big data, thereby booming the growth of the global cognitive systems spending market in the forecast period. Another factor which is driving the growth of the global cognitive systems spending market is the challenge that most banks and financial institutions are facing in the present scenario. Banks have too much data and too little insight. That usually comes from using traditional analytical systems, which focus on examining historical data from relational databases and reporting answers to user queries. Cognitive analytics, in contrast, allows crunching a company’s big data as well as external information sources to forecast future events and behaviours as well as gives recommendations on the most rational behaviour in a given context. Cognitive systems allow conducting what-if analyses to predict the effect of potential changes in business strategies.
- Natural language processing technology is the most adaptable technology in the banking sector for cognitive systems due to its easy and advanced language conversation process and is therefore boosting the growth of the global cognitive systems spending market
- Improvements in the variety, efficiency, and reliability of machine learning will make cognitive systems more usable and stable in the banking segment and thereby help increase their popularity. This machine learning improvement is a step forward in directing non-human operating cognitive systems, which are contributing to the growth of the market.
- The recognition and widespread acceptance of consumer-based intelligent assistant applications in the banking segment will drive sales of enterprise-based cognitive systems
North America expected to expand at a higher CAGR during the forecast period in the banking segment
In terms of value, the banking segment was estimated to account for more than 20% value share by 2016 end and is expected to expand at a CAGR of 15.5% during the forecast period in North America. Banking segment is expected to witness comparatively high Y-o-Y growth rates ranging from 14.3% to 15.5% over 2016–2026. In Latin America, the banking segment is lagging behind while healthcare and education sectors are ahead and expect to exhibit a higher CAGR during the forecast period. In Western Europe, the banking sector is the second largest segment in terms of value after the manufacturing segment, which is expected to exhibit a higher CAGR during the forecast period.
IBM grabs more than 50% share in the global cognitive systems spending market
International Business Machines Corp (IBM) holds a market share in excess of 50% in the global cognitive systems spending market. The company is dominating the global market in banking along with hospital, manufacturing, and education cognitive systems. IBM Corporation aims to expand its presence in the Middle East and Africa having recently launched its offices in Kuwait, Saudi Arabia, Qatar, Angola, Nigeria, Kenya, Senegal, and Tanzania in order to strengthen its business in these regions.
Frequently Asked Questions about Cognitive Systems Spending Market
What are the future prospects of cognitive systems spending market?
Natural language processing technology is the most adaptable technology in the banking sector for cognitive systems due to its easy and advanced language conversation process therefore boosting the growth of the global cognitive systems spending market.
What are the major challenges for cognitive systems spending market?
Lack of compliance on the part of cognitive systems provider, as well as lack of user knowledge & awareness regarding cognitive systems, which is a major challenge for the cognitive systems spending market.
Which verticals will have significant revenue growth in the next five years?
The banking segment has been considered as largest revenue growth in the next five years due to the improvements in the variety, efficiency, and reliability of machine learning.
What are the major opportunities for cognitive systems spending market?
The recognition and widespread acceptance of consumer-based intelligent assistant applications, which is a major opportunities for the cognitive systems spending market
Which region is expected to be at forefront in the cognitive systems spending market?
The continuous development in cognitive computer technology for educational and healthcare applications such as enhancing the student’s learning experience, and evaluate information about the patient, among others, which is, in turn, boosting the growth of the cognitive systems spending market in North America.
Who are the major companies leading cognitive systems spending market?
Prominent companies in the Cognitive Systems Spending market includes International Business Machines Corporation, Accenture Plc., HP Inc., Microsoft Corp., Intel Corporation, Attivio, Wipro Limited, Cognitive Scale Inc., IPsoft Inc. and among others.
Cognitive Systems Spending Market: Global End-user Analysis 2015-2019 and Opportunity Assessment 2020-2030
A recent market study published by FMI on the cognitive systems spending market includes a global end-user analysis for 2015-2019 and opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.
Cognitive Systems Spending Market: Segmentation
The global cognitive systems spending market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
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Report Chapters
Chapter 01 - Executive Summary
The report commences with the executive summary of the cognitive systems spending market, which includes a summary of the key findings and statistics of the market. It also includes the dominating segments in the global cognitive systems spending market. In addition, it includes the graphical representation of the segments according to market size and growth rate.
Chapter 02 - Market Introduction
Readers can find a detailed taxonomy and definition of the cognitive systems spending market in this chapter, which will help them understand the basic information about the cognitive systems spending market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the cognitive systems spending market report.
Chapter 03 - Global Cognitive Systems Spending Market: Market Background
This chapter explains the key macroeconomic factors that are expected to influence the growth of the cognitive systems spending market over the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis of the cognitive systems spending market. This chapter also highlights the key market dynamics of the cognitive systems spending market, which include the drivers and restraints. Moreover, readers will understand the key trends followed by the leading providers in the cognitive systems spending market.
Chapter 04 - Global Cognitive Systems Spending Market: Market Forecast
This section explains the global market value analysis and forecast for the cognitive systems spending market. It includes the detailed analysis of the historical cognitive systems spending market, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2020 - 2030), and an incremental opportunity for the forecast period (2020 - 2030).
Chapter 05 - Global Cognitive Systems Spending Market Analysis 2015 - 2019 & Forecast 2020 - 2030 by Product Type
Based on product type, the cognitive systems spending market is segmented into application hardware, software, & services. In this chapter, readers can find information about the key attractive segments during the forecast period.
Chapter 06 - Global Cognitive Systems Spending Market Analysis 2015 - 2019 & Forecast 2020 - 2030 by Deployment Type
Based on deployment type, the cognitive systems spending market is segmented into public, and on premise. In this chapter, readers can find information about the key attractive segments during the forecast period.
Chapter 07 - Global Cognitive Systems Spending Market Analysis 2015 - 2019 & Forecast 2020 - 2030 by Technology Type
Based on technology type, the cognitive systems spending market is segmented into natural language processing, machine learning, and automated reasoning. In this chapter, readers can find information about the key attractive segments during the forecast period.
Chapter 08 - Global Cognitive Systems Spending Market Analysis 2015 - 2019 & Forecast 2020 - 2030 by Vertical
Based on vertical, the cognitive systems spending market is segmented into banking, education, healthcare, insurance, telecommunication, government, retail, media & entertainment, travel & hospitality, transportation, manufacturing and securities and investment services, other industries (cross industries, discrete manufacturing, process manufacturing, and retail).
Chapter 09 - Global Cognitive Systems Spending Market Analysis 2014 - 2018 & Forecast, 2020 - 2030 by Region
This chapter explains how the Cognitive Systems Spending market is expected to grow across various geographical regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa (MEA).
Chapter 10 - North America Cognitive Systems Spending Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
This chapter includes a detailed analysis of the growth of the North American cognitive systems spending market, along with a country-wise assessment that includes the U.S. and Canada. Readers will also find some of key points on the basis of estimated market size of cognitive systems spending.
Chapter 11 - Latin America Cognitive Systems Spending Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
Readers can find detailed information about several factors, such as the pricing analysis and the regional trends, which are impacting the growth of the Latin America cognitive systems spending market. This chapter also includes the growth prospects of the cognitive systems spending market in leading countries such as Brazil, Mexico, and the Rest of Latin America.
Chapter 12 - Europe Cognitive Systems Spending Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
Important growth prospects of the cognitive systems spending market based on the solution and the end-user industry in several countries, such as Germany, France, Spain, Italy, the UK, BENELUX, and the Russia, are included in this chapter.
Chapter 13 - East Asia Cognitive Systems Spending Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
China, South Korea & Japan, are the leading countries in the East Asia region, which are the prime subjects of assessment to obtain the growth prospects of the East Asia cognitive systems spending market in this chapter. Readers can find detailed information about the growth parameters of the East Asia cognitive systems spending market during the period 2020-2030.
Chapter 14 - South Asia & Pacific Cognitive Systems Spending Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
In this chapter, India, ASEAN Countries, Australia & New Zealand are among the leading countries in the South Asia & Pacific region, which are the prime subjects of assessment to obtain the growth prospects of the South Asia & Pacific cognitive systems spending market.
Chapter 15 - Middle East & Africa Cognitive Systems Spending Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
This chapter provides information about how the cognitive systems spending market will grow in major countries in the MEA region, such as GCC Countries, South Africa, and Turkey during the forecast period 2020 - 2030.
Chapter 16 - Competition Analysis
In this chapter, readers will find a comprehensive list of all leading service provider in the cognitive systems spending market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are International Business Machines Corporation, Accenture Plc., HP Inc., Microsoft Corp., Intel Corporation, Attivio, Wipro Limited, Cognitive Scale Inc., IPsoft Inc. and among others
Chapter 17 - Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the cognitive systems spending report.
Chapter 18 - Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information about the cognitive systems spending market.
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