Cognitive Computing Market | Exactitude Consultancy Reports

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Cognitive Computing Market by Component (Platform, Service (Managed Services, Professional Services) Technology (Machine Learning (ML), Human-Computer Interaction (Computer Vision, Machine Vision, Robotics) Natural Language Processing (NLP), Deep Learning (Prescriptive and Predictive Modeling, Decision Making) Application (Automation, Intelligent Virtual Assistants, Behavioral Analysis, Biometrics, Others) Deployment mode (On-premise, Cloud, Hybrid) Organization Size (Large Enterprises, Small and Medium-Sized Enterprises (SMEs)) Business Functions (Human Resources (HR), Legal, Finance, Marketing, and Advertising) and Region, Global trends and forecast from 2022 to 2029.

The global cognitive computing market is expected to grow at 24% CAGR from 2020 to 2029. It is expected to reach above USD 175.80 billion by 2029 from USD 25.36 billion in 2020.

Segment Analysis
The global Cognitive Computing market is segmented based on component, technology, application, deployment mode, organization size, business functions, and industry vertical.

Based on Components, the cognitive computing market is divided into two parts: platforms and services. End-user adoption of cognitive platforms such as the cloud is expected to drive demand for the cognitive platform. Furthermore, during the forecast period, the services segment is expected to grow significantly. Using cognitive services, businesses can reduce analytics timelines from weeks to minutes. Companies are making significant investments in cloud-based cognitive solutions and related services.

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