Research and Markets has announced the addition of the "Cognitive
Computing Market - Forecasts from 2016 to 2021" report to their
Cognitive Computing Market is projected to expand at a CAGR of 30.56%
over the forecast period to reach US$21.440 billion by 2021, increasing
from US$5.651 billion in 2016.
Currently, Americas region dominated the Cognitive Computing Market in
2016, while Asia pacific region is expected to grow at the fastest pace,
due to increasing adoption of these solutions by SMBs and higher
deployment of cloud-based services.
Cognitive Computing enables the processing of huge volumes of complex
data and enhances the enterprise's productivity levels. With the help of
natural language processing, machine learning, and automated reasoning;
Cognitive Computing translates unstructured data such as images, videos,
natural language and symbols to infer and predict the best solution. The
major application industries of Cognitive Computing Market includes
BFSI, healthcare, and military and defense among others.
The key factors driving th growth of the industry are harness speed of
internet and increasing volume of unstructured data. Other factors
contributing to the growth of the market include the development of
innovative hardware and software systems and Cloud-based technological
advancements. Natural Language Processing segment is the highest revenue
generating technology of cognitive computing. Higher investment by major
players is also expected to boost the market substantially. Conversely,
the major restraining factors are a lack of awareness regarding this
Key industry players profiled as part of this section are International
Business Machines Corporation (IBM), Google, Microsoft Corporation,
Nuance Communications, 3M, and Hewlett Packard (HP) among others.
By End User:
For more information about this report visit http://www.researchandmarkets.com/research/2hv2rk/cognitive
View source version on businesswire.com: http://www.businesswire.com/news/home/20170309006150/en/
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