Global Cognitive Solution Market 2018-2022
About Cognitive Solution
A cognitive solution is a subset of artificial intelligence (AI), combining natural language processing (NLP), pattern recognition, advanced analytics, automated reasoning, and machine learning (ML) in an end-to-end stack to specialize in the analysis of massive amounts of complex data. It draws insights from business process data and makes data-based predictions, to augment the human decision-making capabilities.
Technavio’s analysts forecast the global cognitive solution market to grow at a CAGR of 49.70% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global cognitive solution market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cognitive Solution Market 2018-2022
Technavio recognizes the following companies as the key players in the global cognitive solution market: Amazon.com, Cisco, HPE, IBM, and Microsoft.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased acceptance of high-end technologies. The increased acceptance of high-end technologies is one of the key trends in the cognitive solution market. A cognitive solution has the unique capability of consuming data, learning from that data and providing intuitive insights to the user to make smart decisions.”
According to the report, one driver in the market is increasing demand for AI-powered smart solutions. Several businesses are going online, and the focus has shifted toward smartening of business processes and sustaining the competitive environment in the market. With the advent of digitization and the generation of a huge number of data across the industries, the demand for artificial intelligence solutions is increasing across verticals.
Further, the report states that one challenge in the market is high capital investment and cost associated with cognitive solution. One of the major challenges that hinder the growth of global cognitive solution market is the high costs and capital investments associated. The market is capital intensive one at the present stage, primarily due to its nascent nature and high infinite potential.
Amazon.com, Cisco, HPE, IBM, and Microsoft.