Market Research Future published a research report on “Cognitive Analytics Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Synopsis of Cognitive Analytics Market

Market Scenario

CognitiveScale and Deloitte has joined forces to drive customer centric healthcare through cognitive computing. This is accelerating the adoption of cognitive technology. Nokia Networks is using cognitive analytics for crowd insights, marketing insights, telecom analytics etc. It helps in basically analyzing customer behavior patterns and eventually helps in building strategies for the same.

Major factors driving the growth of cognitive analytics market are the technological advancements and increasing amounts of complex data. Real time analysis of this data is required to speed up the business processes. Increasing adoption of internet of things is another major factor driving the growth of cognitive analytics market. Cognitive analytics helps in bridging the gap between large data volumes and need for decision making in real time. This is one major factor driving the growth of cognitive analytics market.

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Cognitive analytics market has been segmented on the basis of technology, deployment, end user and vertical. The technology segment is further bifurcated into natural language processing, machine learning, automated reasoning and others. Natural language processing and machine learning techniques are used together to analyze patterns and behaviors that are unusual. It helps in better decision making processes.

Cognitive analytics is basically simulation of human thought process in a computerized model which provides business intelligence and better decision making processes. It is application of cognitive computing technologies and analytics together which help business processes in making smart and better decisions. It comprises of different business analytical strategies which helps in providing hidden insights about the diverse data that is already being stored. It helps in drawing inferences from the existing data patterns. It basically comprises of machine learning, natural language processing and distributed computing. Cognitive analytics has a long way to go by tapping the benefits of distributed computing.

Key players

The prominent players in cognitive analytics market are – Google, Inc. (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Nokia Networks (Finland), Saffron Technology (U.S.), ColdLight Solutions (U.S.), CognitiveScale (U.S.), Enterra Solutions LLC (U.S.), Numenta (U.S.), Vicarious (U.S.) among others.

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Segments:

Cognitive analytics market can be segmented on the basis of following:

By Technology

Natural Language Processing (NLP)
Machine Learning
Automated Reasoning
Others
By Deployment

On Premise
Cloud
By End User

SMEs
Large Enterprises
By Vertical

BFSI
Healthcare
Consumer Electronics & Retail
Education & Retail
IT & Telecommunication
Travel & Tourism
Aerospace & Defense
Oil & Gas
Others
Regional Analysis:

The regional analysis of cognitive analytics market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in cognitive analytics market in North America is attributed to technical advancements and increasing need for real time analysis of massive and diversified data in that region.

Intended Audience

Technology investors
Integrated device manufacturers (IDMs)
Original equipment manufacturers (OEMs)
Research/Consultancy firms
Cloud solution provider
System Integrators
External Service Providers (ESPs)
Consumers
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