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Cognitive Computing Market - Growth Opportunities, Application, Revenue Forecast to 2026

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New York, NY 12 Apr 2021: According to a new study published by Polaris Market Research the global cognitive computing market is anticipated to reach USD 53.73 billion by 2026. The growth of the industry is highly attributed to the constantly increasing concern of many enterprises to analyze the huge amount of date generated for evaluating the risks related with their strategic initiatives. Further, currently the cognitive computing industry is growing through several technological advancements resulting in offering remarkable features to several end-user industries including, healthcare, retail, BFSI and others.

On the basis of technology, the natural language processing segment of cognitive computing technology accounted maximum revenue of the total global Cognitive Computing Market share. Further, this technology is anticipated to continue its dominance during the forecast period. Machine learning technology, on the other hand, accounted for the second largest share. Other technologies such as automated reasoning is still at emerging stage and is growing at a highest CAGR during the forecast period owing to its increasing applications in various applications in computational biology.

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Currently, North America dominates the global Cognitive computing market with the presence of key providers operating in the cognitive computing market place such as Microsoft, IBM, and Google. Also, these companies are investing heavily in the development of cognitive computing technology in the local as well a global Cognitive Computing Market. For example, in 2015, Watson cognitive computing system by IBM has made considerable investments in Modernizing Medicine, a software company which provides EMR systems to specialty medical practices. The investment was made to increase the adoption of Watson cognitive computing by the healthcare industry.

 

Major companies profiled in the Cognitive Computing Market report include Google, Inc., IBM Corporation, Microsoft Corporation, Palantir, Saffron Technology, Cold Light, Cognitive Scale, Enterra Solutions, 3M and Oracle Corporation among others.

 

Key Findings from the study suggest North America Cognitive Computing Market is expected to dominate the market during the forecast period. APAC is presumed to be the fastest growing market, developing at a CAGR of more than XX% over the forecast period. The cognitive computing market is presumed to develop at a CAGR of over XX% from 2018 to 2026. The cognitive computing technology is finding its extensive application in several industries including, security, healthcare, BFSI, retail, and other sectors. With the rapid inflow of unstructured data and constant technological advancements the demand for cognitive technology is propelling globally. Furthermore, cloud based technological developments, advancement of new hardware and software systems as well as innovative cognitive experience interfaces will increase the adoption of cognitive computing technology by several industry verticals.

 

To get Incredible Discounts on this Premium Report, Click At : https://www.polarismarketresearch.com/industry-analysis/cognitive-computing-market/request-for-discount-pricing

 

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.

Contact Us:

Polaris Market Research

Phone: 1–646–568–9980

Email[email protected]

Webhttp://www.polarismarketresearch.com

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