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Data Cognitive Services Platform (CSP) Market Data Trends Industry Analysis, Size, Share, Growth, Trends and Forecast - forecast year 2025 (SARS-CoV-2, Covid-19 Analysis)

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Cognitive Services Platform (CSP) Market

A new market study, titled “Cognitive Services Platform (CSP) Market” has been featured on Market Research Future.

Cognitive services platform market is estimated to exhibit high growth potential during the forecast period owing to rapid adoption of digital technology and increasing popularity of artificial intelligence across various industry verticals. Major driving factor in the growth of cognitive services platform market is the rapid increase in need for internet of things applications and increasing need for implementing human intelligence into the applications in order to reduce human intervention. This will help in saving time of the employees and hence will improve efficiency and drive productivity. Growth of digitization is another major factor driving the growth of cognitive services platform market. Growing demand for innovations and increasing technological advancements is another major factor responsible for the growth of cognitive services platform market.

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IBM Watson has launched a cognitive services platform for the IT sector in order to improve the efficiency of business processes and applications. Many other giants have come up with their own artificial intelligence platforms like Tata Consultancy Services has their own cognitive services based platform called Ignio, Infosys has launched Nia whereas Wipro has launched its own cognitive services platform Holmes. IBM claims to offer its IBM Watson services first time for the IT sector and the company focusses on offering innovative products and keeps up with the fast pace of the technological advancements. CognitiveScale is also a strategic IBM Watson partner and also makes use of IBM Watson services for selected industry solutions. Corporate, Retail and healthcare sector has the maximum number of applications of cognitive computing as of now, owing to the growing demand for real time data analysis. This has led to a considerate increase in the growth of cognitive services platform market.

Cognitive services platform market has been segmented on the basis of service, end user and vertical. The service segment is bifurcated into continuous compliance, autonomous governance, self-service & automated provisioning, customer support, knowledge management, communication monitoring and others. These services help in improving the overall efficiency of the business processes and applications.

The major factor restraining the growth of cognitive services platform market is the lack of awareness and lack of technical expertise to operate on cognitive services platform. This could be a major factor that could cause hindrance in the growth of cognitive services platform market. Lack of knowledge about the benefits of cognitive services platforms is another major factor that could hamper the growth of cognitive services platform market.

 

Market Research Future (MRFR) recognizes the following companies as the key players in the cognitive services platform market – IBM Corporation (U.S.), Tata Consultancy Services Limited (India), Infosys Limited (India), Wipro Limited (India), Google, Inc. (U.S.), Microsoft Corporation (U.S.), General Electric (U.S.), Attivio (U.S.), Enterra Solutions LLC (U.S.), Numenta (U.S.) and others.

Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:

Cognitive services platform market can be segmented on the basis of technology, service, end user and vertical. Cognitive clouds contain knowledge about data enrichments, knowledge graphs and insight generators. These help in creation of specific insights for business processes and applications. Cognitive services platforms are being used in IT sector majorly to reduce the burden of mundane tasks and automate those tasks in order to improve the productivity of the employees.

 

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: [email protected]

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