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IC20112800 |
Pages: 240 |
Nov 2020 |
According to a new study by Research Dive, the global cognitive cloud computing market will reach $108,788.7 million by 2027, at a CAGR of 31.3%, increasing from $11,530.0 million in 2019. North America region registered for highest global market share in the past decades and is projected to retain its steady rise during the estimated timeframe. Asia-Pacific cognitive cloud computing market is expected to rise at a notable rate during the forecast time.
The coronavirus pandemic has had a desirable impact on the global cognitive cloud computing market size in 2020. This growth is expected to be due to rising importance of natural language processing (NLP) technique in the healthcare and pharmaceutical organizations to support healthcare professionals and scientists during the pandemic. This NLP technique is the most advanced approach to better patient monitoring and patient care. Also, NLP technique is an automated process and allows clinicians to more efficiently manage and monitor patient population by finding virus related symptoms in real time. This aspect has augmented the demand for NLP and is directly impacting the cognitive cloud computing method demand in healthcare systems. These factors are predicted to impact the global cognitive cloud computing market growth in a desirable direction.
Cognitive cloud computing is utilization of computerized techniques that use scientific disciplines of signal processing and artificial intelligence to help the humans in critical situations where the results may be uncertain and ambiguous. It can synthesize information or data from several sources such as data mining, natural language processing and patter recognition to suggest the most appropriate approaches for business operations. Due these benefits, increasing adoption of cognitive cloud computing models by various industry verticals such as BFSI, healthcare, retail and others to revolutionize their business operations is expected to drive the market growth in the forecast years. Moreover, growing utilization of artificial intelligence tools in cognitive cloud computing models is also estimated to propel the market growth in the forecast years. For example, in healthcare sector, cognitive computing with AI technologies is being used in oncology sector to find the most suitable procedure for drug development, based on patient needs. Furthermore, rising implementation of cognitive cloud computing model in OTT sector for delivering high quality video-based content with low latency in the form of movies and web series is also estimated propel the market growth in the analysis time.
To know more about cognitive cloud computing market drivers, get in touch with our analysts here.
High implementation cost of the cognitive cloud computing platforms is restricting the adoption in the small and medium size enterprises, which is predicted to limit the growth of the market in the forecast years. Also, the leading players are still facing difficulties with the development of software platforms which is further expected to hamper the growth of the market in the prediction period.
Emergence of innovative tools and interaction platforms in the cognitive cloud computing models is predicted to create lucrative opportunities for the market growth in the coming years. For instance, chatbot is a humanoid robot which utilizes ML, AI and NLP technologies to imitate human conversation and activities to provide faster services in a short time with more accuracy. Currently, rising deploying of chatbots incorporation with cognitive computing technologies in the healthcare sector to fight against COVID-19 by tracking and monitoring patients is further estimated to upsurge the market growth in the upcoming time.
To know more about cognitive cloud computing market opportunities, get in touch with our analysts here.
Source: Research Dive Analysis
In 2019, natural language processing technology sub-segment accounted for evident cognitive cloud computing market share and is estimated to continue its constant rise over the global market throughout the forecast years. This command over the global market is majorly owing to wide utilization of NLP with cognitive computing technologies in almost all sizes of industry verticals because this enables the computers to communicate with humans in real time. Currently, machines and computers can analyze and identify more language-based information and data than humans without exhaustion and in a consistent way. Also, NLP with cognitive computing technologies have various capabilities such as content categorization, topic modeling & discovery, content extraction, text-to-speech & speech-to-text and many other capabilities to offer advanced algorithms to meet organizational requirements. These factors are estimated to fuel the market growth in the estimated period.
Large enterprise sub-segment held the global market size in 2019
Source: Research Dive Analysis
In the previous years, the cognitive cloud computing market size for large enterprises accounted for $8,069.0 million and is estimated to produce a revenue of $73,711.1 million till the end of 2027. This growth is significantly due to extensive usage of cognitive computing techniques in the large enterprises because it supports employees when they are dealing with complex decision making. Besides large enterprises, the SMEs size sub-segment is expected to witness a noteworthy growth and is anticipated to account for $35,077.7 million revenue by 2027. Increasing adoption of cognitive cloud computing services by SMEs to transform into modern enterprises for faster growth in a digital economy is estimated to propel the market growth in the estimated timeframe
Source: Research Dive Analysis
In 2019, healthcare sub-segment was the significant contributor of cognitive cloud computing market and is predicted to retain its dominance over the global marketplace throughout the forecast years. This dominance is majorly attributed to wide utilization of cognitive computing technologies in the healthcare sector to assist healthcare professionals in better and improved treatment of diseases. In the previous decades, BFSI sub-segment occupied second position in the global market and is predicted to account for a revenue of $19,486.4 million till the end of 2027. Increasing implementation of cognitive cloud computing technologies in banks and financial institutions to provide better security systems as well as to identify financial frauds with more robust abilities is anticipated to upsurge the market growth in the review period.
In the past years, the North America dominated the global cognitive cloud computing market size; it was about $3,849.9 million and is anticipated to continue its constant growth in the global industry during the prediction period. The command over the global market is mainly accredited to presence of technically progressive economies such as Canada and U.S., U.S. being the major revolution hub for the most of upcoming technologies. These factors are inspiring most organizations to adopt new technologies to modernize and revolutionize their business activities; this is predicted to propel the market growth in the North America region. Europe region accounted for second position in the global market in terms of revenue and is predicted to generate a revenue of $34,268.4 million by the end of 2027. This growth is majorly due to rising usage of cognitive cloud computing solutions by the organizations to analyze organizational data to provide innovative solutions.
To explore more about cognitive cloud computing market, get in touch with our analysts here.
Source: Research Dive Analysis
The significant cognitive cloud computing market players are Nuance Communications, Inc., SparkCognition, Numenta, Cisco, Microsoft, SAP, CognitiveScale, Hewlett Packard Enterprise Development LP, EXPERT.AI and IBM. These significant players are adopting various strategies including collaborations & partnerships, acquisitions and business expansions to gain a high competitive edge in the global cognitive cloud computing industry.
Bargaining Power of Suppliers: This market has larger number of small & medium and large size suppliers and increasing demand for cognitive computing services is delivering high changing cost between providers. The bargaining power of suppliers is HIGH.
Aspect | Particulars |
Historical Market Estimations | 2018-2019 |
Base Year for Market Estimation | 2019 |
Forecast timeline for Market Projection | 2020-2027 |
Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
Segmentation by Technology |
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Segmentation by Enterprise Size
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Segmentation by Industry Vertical
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Key Countries covered | U.S., Canada, Germany, UK, Italy, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, Argentina, GCC and Saudi Arabia |
Key Companies Profiled |
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1. Research Methodology
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.4.1. Assumptions
1.4.2. Forecast parameters
1.5. Data sources
1.5.1. Primary
1.5.2. Secondary
2. Executive Summary
2.1. 360° summary
2.2. Technology trends
2.3. Enterprise size trends
2.4. Industry vertical trends
3. Market overview
3.1. Market segmentation & definitions
3.2. Key takeaways
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Pricing overview
3.8.1. By technology
3.8.2. By enterprise size
3.8.3. By industry vertical
3.8.4. By region
3.9. Market value chain analysis
3.9.1. Stress point analysis
3.9.2. Raw material analysis
3.9.3. Manufacturing process
3.9.4. Distribution channel analysis
3.9.5. Operating vendors
3.9.5.1. Raw material suppliers
3.9.5.2. Product manufacturers
3.9.5.3. Product distributors
3.10. Strategic overview
4. Cognitive Cloud Computing Market, by Technology
4.1. Natural Language Processing
4.1.1. Market size and forecast, by region, 2019-2027
4.1.2. Comparative market share analysis, 2019 & 2027
4.2. Machine Learning
4.2.1. Market size and forecast, by region, 2019-2027
4.2.2. Comparative market share analysis, 2019 & 2027
4.3. Automated Reasoning
4.3.1. Market size and forecast, by region, 2019-2027
4.3.2. Comparative market share analysis, 2019 & 2027
4.4. Others
4.4.1. Market size and forecast, by region, 2019-2027
4.4.2. Comparative market share analysis, 2019 & 2027
5. Cognitive Cloud Computing Market, by Enterprise size
5.1. Large Enterprises
5.1.1. Market size and forecast, by region, 2019-2027
5.1.2. Comparative market share analysis, 2019 & 2027
5.2. Small and Medium Enterprises
5.2.1. Market size and forecast, by region, 2019-2027
5.2.2. Comparative market share analysis, 2019 & 2027
6. Cognitive Cloud Computing Market, by Industry vertical
6.1. Healthcare
6.1.1. Market size and forecast, by region, 2019-2027
6.1.2. Comparative market share analysis, 2019 & 2027
6.2. BFSI
6.2.1. Market size and forecast, by region, 2019-2027
6.2.2. Comparative market share analysis, 2019 & 2027
6.3. Retail
6.3.1. Market size and forecast, by region, 2019-2027
6.3.2. Comparative market share analysis, 2019 & 2027
6.4. Government
6.4.1. Market size and forecast, by region, 2019-2027
6.4.2. Comparative market share analysis, 2019 & 2027
6.5. IT & Telecom
6.5.1. Market size and forecast, by region, 2019-2027
6.5.2. Comparative market share analysis, 2019 & 2027
6.6. Energy & Power
6.6.1. Market size and forecast, by region, 2019-2027
6.6.2. Comparative market share analysis, 2019 & 2027
6.7. Others
6.7.1. Market size and forecast, by region, 2019-2027
6.7.2. Comparative market share analysis, 2019 & 2027
7. Cognitive Cloud Computing Market, by Region
7.1. North America
7.1.1. Market size and forecast, by technology, 2019-2027
7.1.2. Market size and forecast, by enterprise size, 2019-2027
7.1.3. Market size and forecast, by industry vertical, 2019-2027
7.1.4. Market size and forecast, by country, 2019-2027
7.1.5. Comparative market share analysis, 2019 & 2027
7.1.6. U.S.
7.1.6.1. Market size and forecast, by technology, 2019-2027
7.1.6.2. Market size and forecast, by enterprise size, 2019-2027
7.1.6.3. Market size and forecast, by industry vertical, 2019-2027
7.1.6.4. Comparative market share analysis, 2019 & 2027
7.1.7. Canada
7.1.7.1. Market size and forecast, by technology, 2019-2027
7.1.7.2. Market size and forecast, by enterprise size, 2019-2027
7.1.7.3. Market size and forecast, by industry vertical, 2019-2027
7.1.7.4. Comparative market share analysis, 2019 & 2027
7.1.8. Mexico
7.1.8.1. Market size and forecast, by technology, 2019-2027
7.1.8.2. Market size and forecast, by enterprise size, 2019-2027
7.1.8.3. Market size and forecast, by industry vertical, 2019-2027
7.1.8.4. Comparative market share analysis, 2019 & 2027
7.2. Europe
7.2.1. Market size and forecast, by technology, 2019-2027
7.2.2. Market size and forecast, by enterprise size, 2019-2027
7.2.3. Market size and forecast, by industry vertical, 2019-2027
7.2.4. Market size and forecast, by country, 2019-2027
7.2.5. Comparative market share analysis, 2019 & 2027
7.2.6. Germany
7.2.6.1. Market size and forecast, by technology, 2019-2027
7.2.6.2. Market size and forecast, by enterprise size, 2019-2027
7.2.6.3. Market size and forecast, by industry vertical, 2019-2027
7.2.6.4. Comparative market share analysis, 2019 & 2027
7.2.7. UK
7.2.7.1. Market size and forecast, by technology, 2019-2027
7.2.7.2. Market size and forecast, by enterprise size, 2019-2027
7.2.7.3. Market size and forecast, by industry vertical, 2019-2027
7.2.7.4. Comparative market share analysis, 2019 & 2027
7.2.8. France
7.2.8.1. Market size and forecast, by technology, 2019-2027
7.2.8.2. Market size and forecast, by enterprise size, 2019-2027
7.2.8.3. Market size and forecast, by industry vertical, 2019-2027
7.2.8.4. Comparative market share analysis, 2019 & 2027
7.2.9. Spain
7.2.9.1. Market size and forecast, by technology, 2019-2027
7.2.9.2. Market size and forecast, by enterprise size, 2019-2027
7.2.9.3. Market size and forecast, by industry vertical, 2019-2027
7.2.9.4. Comparative market share analysis, 2019 & 2027
7.2.10. Italy
7.2.10.1. Market size and forecast, by technology, 2019-2027
7.2.10.2. Market size and forecast, by enterprise size, 2019-2027
7.2.10.3. Market size and forecast, by industry vertical, 2019-2027
7.2.10.4. Comparative market share analysis, 2019 & 2027
7.2.11. Rest of Europe
7.2.11.1. Market size and forecast, by technology, 2019-2027
7.2.11.2. Market size and forecast, by enterprise size, 2019-2027
7.2.11.3. Market size and forecast, by industry vertical, 2019-2027
7.2.11.4. Comparative market share analysis, 2019 & 2027
7.3. Asia Pacific
7.3.1. Market size and forecast, by technology, 2019-2027
7.3.2. Market size and forecast, by enterprise size, 2019-2027
7.3.3. Market size and forecast, by industry vertical, 2019-2027
7.3.4. Market size and forecast, by country, 2019-2027
7.3.5. Comparative market share analysis, 2019 & 2027
7.3.6. China
7.3.6.1. Market size and forecast, by technology, 2019-2027
7.3.6.2. Market size and forecast, by enterprise size, 2019-2027
7.3.6.3. Market size and forecast, by industry vertical, 2019-2027
7.3.6.4. Comparative market share analysis, 2019 & 2027
7.3.7. India
7.3.7.1. Market size and forecast, by technology, 2019-2027
7.3.7.2. Market size and forecast, by enterprise size, 2019-2027
7.3.7.3. Market size and forecast, by industry vertical, 2019-2027
7.3.7.4. Comparative market share analysis, 2019 & 2027
7.3.8. Japan
7.3.8.1. Market size and forecast, by technology, 2019-2027
7.3.8.2. Market size and forecast, by enterprise size, 2019-2027
7.3.8.3. Market size and forecast, by industry vertical, 2019-2027
7.3.8.4. Comparative market share analysis, 2019 & 2027
7.3.9. Australia
7.3.9.1. Market size and forecast, by technology, 2019-2027
7.3.9.2. Market size and forecast, by enterprise size, 2019-2027
7.3.9.3. Market size and forecast, by industry vertical, 2019-2027
7.3.9.4. Comparative market share analysis, 2019 & 2027
7.3.10. South Korea
7.3.10.1. Market size and forecast, by technology, 2019-2027
7.3.10.2. Market size and forecast, by enterprise size, 2019-2027
7.3.10.3. Market size and forecast, by industry vertical, 2019-2027
7.3.10.4. Comparative market share analysis, 2019 & 2027
7.3.11. Rest of Asia Pacific
7.3.11.1. Market size and forecast, by technology, 2019-2027
7.3.11.2. Market size and forecast, by enterprise size, 2019-2027
7.3.11.3. Market size and forecast, by industry vertical, 2019-2027
7.3.11.4. Comparative market share analysis, 2019 & 2027
7.4. LAMEA
7.4.1. Market size and forecast, by technology, 2019-2027
7.4.2. Market size and forecast, by enterprise size, 2019-2027
7.4.3. Market size and forecast, by industry vertical, 2019-2027
7.4.4. Market size and forecast, by country, 2019-2027
7.4.5. Comparative market share analysis, 2019 & 2027
7.4.6. Latin America
7.4.6.1. Market size and forecast, by technology, 2019-2027
7.4.6.2. Market size and forecast, by enterprise size, 2019-2027
7.4.6.3. Market size and forecast, by industry vertical, 2019-2027
7.4.6.4. Comparative market share analysis, 2019 & 2027
7.4.7. Middle East
7.4.7.1. Market size and forecast, by technology, 2019-2027
7.4.7.2. Market size and forecast, by enterprise size, 2019-2027
7.4.7.3. Market size and forecast, by industry vertical, 2019-2027
7.4.7.4. Comparative market share analysis, 2019 & 2027
7.4.8. Africa
7.4.8.1. Market size and forecast, by technology, 2019-2027
7.4.8.2. Market size and forecast, by enterprise size, 2019-2027
7.4.8.3. Market size and forecast, by industry vertical, 2019-2027
7.4.8.4. Comparative market share analysis, 2019 & 2027
8. Company profiles
8.1. IBM
8.1.1. Business overview
8.1.2. Financial performance
8.1.3. Product portfolio
8.1.4. Recent strategic moves & developments
8.1.5. SWOT analysis
8.2. Nuance Communications, Inc.
8.2.1. Business overview
8.2.2. Financial performance
8.2.3. Product portfolio
8.2.4. Recent strategic moves & developments
8.2.5. SWOT analysis
8.3. SparkCognition
8.3.1. Business overview
8.3.2. Financial performance
8.3.3. Product portfolio
8.3.4. Recent strategic moves & developments
8.3.5. SWOT analysis
8.4. SAP
8.4.1. Business overview
8.4.2. Financial performance
8.4.3. Product portfolio
8.4.4. Recent strategic moves & developments
8.4.5. SWOT analysis
8.5. Numenta
8.5.1. Business overview
8.5.2. Financial performance
8.5.3. Product portfolio
8.5.4. Recent strategic moves & developments
8.5.5. SWOT analysis
8.6. Cisco
8.6.1. Business overview
8.6.2. Financial performance
8.6.3. Product portfolio
8.6.4. Recent strategic moves & developments
8.6.5. SWOT analysis
8.7. Microsoft
8.7.1. Business overview
8.7.2. Financial performance
8.7.3. Product portfolio
8.7.4. Recent strategic moves & developments
8.7.5. SWOT analysis
8.8. CognitiveScale
8.8.1. Business overview
8.8.2. Financial performance
8.8.3. Product portfolio
8.8.4. Recent strategic moves & developments
8.8.5. SWOT analysis
8.9. Hewlett Packard Enterprise Development LP
8.9.1. Business overview
8.9.2. Financial performance
8.9.3. Product portfolio
8.9.4. Recent strategic moves & developments
8.9.5. SWOT analysis
8.10. EXPERT.AI
8.10.1. Business overview
8.10.2. Financial performance
8.10.3. Product portfolio
8.10.4. Recent strategic moves & developments
8.10.5. SWOT analysis
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