Reports And Data

Cognitive Analytics Market Size – USD 7.27 Billion in 2018, CAGR of 43.3%, Increase in demand for cognitive analytics in the healthcare end-use verticals.

NEW YORK, NY , UNITED STATES, April 6, 2022 /EINPresswire.com/ -- Increasing demand for cognitive analytics in the cloud deploment mode coupled with high investment in R&D of cognitive analytics is fueling the market growth.

The Global Cognitive Analytics Market is forecast to reach USD 129.99 Billion by 2026, according to a new report by Reports and Data. Cognitive analytics is the process of simulating the existing data models and sources into a next-level augmented analytical intelligence like the human thought process. Incorporating human-like intelligence in specific tasks, this advanced form of analytics would not only understand the words in a text, but also the full context of what is being written or spoken could be ascertained. Global cognitive analytics market is growing significantly as the demand for cognitive analytics in healthcare and BFSI applications are flourishing predominantly. The rising requirement of advanced insights about the potential customers in BPO & KPO sectors are highly being persistent in the market. The conventional big data analysis would likely be one of the most significant restraints of this market as the end-users of this market would prefer relying on traditional big data analytics for its less complexity in deployment.

APAC is forecasted to achieve the fastest growth of about 43.3% in the period 2019 – 2026, due to its extensive development in the advanced analytical solutions for the end-use verticals coupled with the massive proliferation of the internet availability and digital marketing. India and China are some of the fastest-growing countries due to the immense growth in their potential consumer base throughout all the major industry verticals and high rise in the overall volume of data.

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Key participants include Microsoft, IBM, Google, Intel Corporation, Nokia Corporation, SAS Institute, Amazon Web Services, Inc., Oracle Corporation, Cisco Systems, and Narrative Science.

Further key findings from the report suggest

Having access to the databases for the past treatment procedures and records of all the required activities regarding the diseases the cognitive analytics can allow forming meaningful insights for physicians. The smart band or other heath-tracker manufacturers incorporate this technology in their R&D to improve their products for their customers. The healthcare segment is expected to reach a market share of 26.9% by 2026, having grown with a CAGR of 44.1% during the forecast period.
Neural networks are the series of algorithms that are designed to imitate the human brains in terms of the thought process; likewise, the systems of neurons. Neural network assists in the financial forecast, credit risk modeling, and regression analysis, among others and predictive analysis, automated descriptive flow chart generation for operations are some of the end-use applications under this segment. The market share of this segment is forecasted to reach 20.8% in 2026.
North America is leading the global market, with 39.4% of market possession in 2018 and would continue dominating with a CAGR of 43.9% during the forecast period. United States possesses the highest market share in the worldwide market.
Europe would reach a market share of 23.7% by 2026 and would grow at a CAGR of 42.4% in the forecast period. United Kingdom and Germany are the highest contributor to this region.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cognitive-analytics-market

For the purpose of this report, Reports and Data have segmented the global Cognitive Analytics market on the basis of the organization size, component, technology, deployment mode, end-use verticals, and region:

Organization Size Outlook (Revenue: USD Billion; 2016-2026)

Large Enterprises
SMEs

Component Outlook (Revenue: USD Billion; 2016-2026)

Asset Management
Sales & Marketing
Supply Chain & Logistics
Risk Investigation & Fraud Analysis
Process Management
Customer Analytics
Others

Technology Outlook (Revenue: USD Billion; 2016-2026)

Machine Learning (ML)
Natural Language Processing (NLP)
Neural Networks
Deep Learning
Reasoning Analysis
Others

Deployment Mode Outlook (Revenue: USD Billion; 2016-2026)

Cloud
On-Premise

End-Use Verticals Outlook (Revenue: USD Billion; 2016-2026)

Healthcare
BFSI
BPO & KPO
Industrial Sector
Transportation & Logistics
IT & Telecom Service
Education & Research
Others

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Regional Outlook (Revenue: USD Billion; 2016-2026)

North America
Europe
Asia Pacific
MEA
Latin America

Key Advantages of Cognitive Analytics Report:

Identification and analysis of the market size and competition
Qualitative and quantitative analysis of the market data
Data validated by industry experts after extensive primary and secondary research
Extensive regional analysis of the Audio Interface industry
SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
Feasibility analysis and investment analysis to enable strategic investment decisions
Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Thank you for reading our report. For further details on the report or its customization, please connect with us. Our team will ensure the report is equipped with crucial information and well-suited to your needs.

Tushar Rajput
Reports and Data
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