Global Cognitive Analytics Market is expected to reach US$ 26.3 Bn by 2024 from US$ 5.5 Bn in 2016 at a CAGR of 25.1%.
The global cognitive analytics market is segmented based on service type, end user, vertical, and geography. The service type segment is further bifurcated into cloud engineering, maintenance services, product engineering, experience engineering, security engineering, maintenance services, and others. Moreover, the end user segment of the cognitive computing market is further classified as small & medium enterprises, large enterprises. Vertical bifurcates the cognitive analytics market into healthcare, IT & telecom, automotive, energy & utilities, aerospace & defense, industrial manufacturing, transportation & logistics, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Major factors driving the growth of cognitive analytics market are the technological advancements and rise in amounts of complex data. This is a comprehensive global report focused on the current and future prospects of the Global Cognitive Analytics Market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. An in-depth analysis of past trends, future trends, demographics, technological advancements, and regulatory requirements for the global Cognitive Analytics Market has been done in order to calculate the growth rates for each segment and sub-segments.
In terms of vertical, the adoption of cognitive computing solution is phenomenal in the BFSI domain. The healthcare segment is also anticipated to exhibit a decent growth at a CAGR of over 19.20% over the forecast period. Cognitive solutions enable medical practitioners to emphasize on patient treatment by reducing the requisite paperwork.
Geographically, the global cognitive analytics market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to hold of the largest market share for Cognitive Analytics Market among other regions in 2016. Asia Pacific is anticipated to experience the fastest market growth over the forecast period, owing to the growing adoption of latest technologies related to telecommunication infrastructures, consumer electronics, communication devices and rising smart cities projects across the region.
Some of the key players in the cognitive analytics market are IBM, Amazon Web Services, Microsoft, Google, Inc., Accenture, Inc., and Cisco Systems, Inc.
Global Cognitive Analytics Market by Service Type:
- Cloud Engineering
- Maintenance Services
- Product Engineering
- Experience Engineering
- Security Engineering
- Maintenance Services
- Others
Global Cognitive Analytics Market by End-user:
- Small & Medium Enterprises
- Large Enterprises
Global Cognitive Analytics Market by Vertical:
- Healthcare
- IT & Telecom
- Energy & Utilities
- Aerospace & Defense
- Industrial Manufacturing
- BFSI
- Others
Global Cognitive Analytics Market by Geographies:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
The major key players that influence growth of Global Cognitive Analytics Market includes:
- TCS
- Aricent
- Capgemini
- Wipro
- IBM
- Infosys
- Happiest Minds
- Rapidvalue
- Cognizant
- Einfochips
- Prodapt Solutions
- Techmahindra
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