The global Cognitive Analytics Market is forecast to reach USD 2.03 Billion by 2026, according to a new report by Reports and Data. Integration of various factors has propelled the growth of Cognitive Analytics market. Mentionable factors in this context being the developments in IT industry infrastructure, vast adoption of IoT based devices in the functioning of different end-user industries, which are boosting the incorporation of advanced data management and analytics solutions. High integration of advanced data management and analytics solutions is, in turn, promoting the growth of the Cognitive Analytics market. As a result of advancements in intelligent algorithms, and developments in advanced tools, the increased demand for cognitive computing solutions among industries dealing with extensive data like the Banking, Financial Services, and Insurance [BFSI] sector, and others are boosting the growth of the Cognitive Analytics market.

Several initiatives taken by the key players of the market are also having a positive impact on the growth of the market. As an instance, in 2016, IBM collaborated with General Motors and launched OnStar Go, a cognitive mobility platform. With the help of the platform, GM drivers gained the ability to connect with their preferable platforms. Such collaborative initiatives expand the area of application of Cognitive Analytics and contribute to its market expansion. 

Get a sample of the report @ https://www.reportsanddata.com/download-free-sample/1621

Further key findings from the report suggest

• Cognitive Analytics market held a market share of USD 0.57 Billion in the year 2018, with a growth rate of 15.2% during the forecast period.
• In the context of Component, the Solutions segment yielded a higher revenue of USD 0.43 Billion in 2018 with a growth rate of 14.4% during the forecast period. Factors contributing to the revenue generated by the segment is high demand and deployment of data migration and integration solutions in the functioning of different end-user industries.
• In regards to Deployment type, the Cloud segment can be seen to dominate the market along with witnessing a higher growth rate during the forecast period. In the year 2018, it generated a higher revenue of USD 0.34 Billion with a faster CAGR of 15.7% during the forecast period. The revenue generated by the Cloud segment is the result of high demand for this deployment type. The need for deployment through Cloud is primarily driven by its wide range of functionalities like multi-user support, easy accessibility, pay-per-use, and low maintenance costs, among others.
• In context to Organization size, the Small and Medium-Sized enterprises [SME] are forecasted to witness a faster CAGR of 17.8% during the forecast period, which would occupy 24.0% of the market by 2026. The growth experienced by the SME segment is the result of increasing acceptance and adoption of cloud technology in the functioning of this organization that promotes the incorporation of Cognitive Analytics in their operations.
• In regards to Business function Operations, the marketing and sales segment can be seen to dominate the market that held 45.0% of the market in 2018 with the second-highest CAGR of 15.5% during the forecast period. The market dominance of the Operations, marketing, and sales segment is the result of a significant amount of data being generated through diverse business operations in the functioning of end-user industries, particularly BFSI and manufacturing sectors that makes it essential to apply Cognitive Analytics solutions to manage the vast data set.
• In regards to End-users, the BFSI segment leads the market that occupied the largest market share of 35.0% in 2018, with a growth rate of 15.6% during the forecast period. The reason for the market dominance of the BFSI sector in the Cognitive Analytics market is significant volumes of data being generated in this sector and the requirement of practical solutions to manage these data. The need to manage large quantities of data in the BFSI industry has resulted in wide deployment of Cognitive Analytics solutions in its functioning that contributes to its market share.
• In regards to region, Asia Pacific is forecasted to witness the highest growth rate of 16.5% during the forecast period. The growth rate of Asia Pacific in the Cognitive Analytics market is attributed to faster adoption of cognitive computing platforms. Factors like technological advancements, expansion of the IoT industry, and the rise in the number of SMEs are also driving the market in this region.

Key companies profiled in the report include:  

Microsoft, Cognizant, Infosys, Oracle, Wipro, IBM, Saksoft, Attivio, Pingar, and Cogntivescale.  

Component Type Outlook (Revenue, USD Billion; 2020-2026)

• Solutions
  • Data Governance and Quality
  • Data Migration and Integration
  • Others
• Services
  • Integration services
  • Consulting
  • Maintenance and support

Deployment Type Outlook (Revenue, USD Billion; 2020-2026)

• Cloud
• On-Premises

Organization size Type Outlook (Revenue, USD Billion; 2020-2026)

• Large Enterprises
• Small and Medium-Sized Enterprises

Business function Type Outlook (Revenue, USD Billion; 2020-2026)

• Legal and Finance
• Operations, marketing, and sales
• Human resource

End-users Type Outlook (Revenue, USD Billion; 2020-2026)

• Banking, Financial Services, and Insurance (BFSI)
• Telecom, Media and IT
• Manufacturing
• Government and Legal Services
• Healthcare and Pharmaceuticals
• Others

Application Type Outlook (Revenue, USD Billion; 2020-2026)

• Behavioral recommendations
• Speech recognition
• Face detection
• Fraud detection
• Risk assessment

Based on Region market is segmented into:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East Africa

Request customization of the report @ https://www.reportsanddata.com/request-customization-form/1621

Thank you for reading our report. Customization of this report is available as per the client’s requirements. Please connect with us to know more about the report and our team will ensure you get the report tailored according to your needs.

Get Explore Latest Research Report by Reports and Data:

https://www.google.tm/url?q=https://www.reportsanddata.com/

https://www.google.tn/url?q=https://www.reportsanddata.com/

https://www.google.to/url?q=https://www.reportsanddata.com/

https://www.google.tt/url?q=https://www.reportsanddata.com/

https://www.google.com.ua/url?q=https://www.reportsanddata.com/

https://www.google.co.uz/url?q=https://www.reportsanddata.com/

https://www.google.vg/url?q=https://www.reportsanddata.com/

https://www.google.com.vn/url?q=https://www.reportsanddata.com/

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com