About the Cognitive Systems Market
Cognitive systems include applications with capabilities to enhance human decisions. These systems take advantage of cognitive computing capabilities of vast data-processing power, adding of channels for data collection, and environmental setting to deliver practical business insights. In addition, they use analytics to process data collected and deliver useful insights. The present cognitive systems are mostly passive in nature and require assistance from humans to initiate an action and generate an output or a response. This interaction is often made through text typed via a computer, a mobile app, or a web portal. We expect future cognitive systems would enable enhanced natural interaction with users, including voice and visualization. The cognitive systems will also become increasingly more interactive and engaging. Significant advances in technology have already been made to understand users better and deliver responses fit for user’s specific locative and temporal context.
Technavio’s analysts forecast the global cognitive systems market to grow at a CAGR of 55.57% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global cognitive systems market for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the total consumption of cognitive systems globally. The report does not include revenue generated from the aftermarket service of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cognitive Systems Market 2016-2020
Technavio recognizes the following companies as the key players in the global cognitive systems market: HP, IBM, Microsoft, and SAP.
Other Prominent Vendors in the market are: Accenture, Alteryx, Attivio, Cloudera, Continuum Analytics, DataStax, EMC, Google, Hortonworks, MapR Technologies, SAS Institute, and Teradata.
Commenting on the report, an analyst from Technavio’s team said: “A key trend which is boosting market growth is the growing demand for predictive analytics. Cognitive system integration allows communicative transfer of real-time data between machines and networks. The need to strategically analyze and monitor information will ultimately impact the global cognitive systems market that is predicted to grow at a rapid pace during the forecast period. Businesses have realized that they can use big data to optimize costs, deliver better services, and boost revenues.”
According to the report, cognitive systems significantly extend human capabilities by providing expert assistance. They offer advice by developing deep domain insights and bringing this information to the end-user in a timely, natural, and usable way. For instance, in the financial sector, cognitive systems not only help in broadening work capabilities for bank employees but also help financial institutions focus more on interacting with customers rather than the traditional transactions approach.
Further, the report states that a major factor that could hamper the market growth is the application of cross-layers. The design of the cognitive or self-organized network is a challenging task, particularly, the networking middleware for knowledge exchange, the outer and inner loops coordination, and intersystem networking for sharing and cooperation. The design of high layers such as spectrum management functions integrated at different layers of network protocol stacks, media access control (MAC) sublayer and network layer, various protocols and routings are also difficult to manage
HP, IBM, Microsoft, SAP, Accenture, Alteryx, Attivio, Cloudera, Continuum Analytics, DataStax, EMC, Google, Hortonworks, MapR Technologies, SAS Institute, and Teradata.
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