Cognitive Computing Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region | Amazon.com Inc., Alphabet Inc., Samsung Group, Microsoft Corporation, Meta Platforms Inc.

"The new report published by The Business Research Company, titled "" Cognitive Computing Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the cognitive computing market size has grown exponentially in recent years. It will grow from $39.95 billion in 2023 to $51.03 billion in 2024 at a compound annual growth rate (CAGR) of 27.7%. The cognitive computing market size is expected to see exponential growth in the next few years. It will grow to $122.98 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%.

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Rise Of Cognitive Computing In An Era Of Expanding Unstructured Data
The increase in the volume of unstructured data is expected to propel the growth of the cognitive computing market going forward. Unstructured data refers to information that does not have a pre-defined data model or is not organized in a pre-determined manner, making it difficult to process and analyze using conventional databases and tools. Cognitive computing is used to analyze, interpret, and understand natural language, images, and patterns, enabling machines to mimic human decision-making processes in unstructured data. For instance, in August 2021, according to LXA, a UK-based educational business organization, it was projected that by 2025, unstructured data volumes would increase to 175 zettabytes, or 175 billion terabytes. Therefore, an increase in the volume of unstructured data is driving the growth of the cognitive computing market.

Advancements In AI And Machine Learning Transforming The Cognitive Computing Market
Major companies operating in the cognitive computing market are focused on adopting new technologies, such as 5G, to increase their profitability in the market. 5G in cognitive computing refers to the use of fifth-generation wireless technology to enhance the speed, efficiency, and connectivity of cognitive computing systems, enabling faster data processing and improved artificial intelligence functionalities. For instance, in March 2023, Tata Consultancy Services Ltd., an India-based information technology company, introduced Cognitive Plant Operations Adviser, a 5G-powered solution integrating AI, 5G, and edge computing to enable autonomous production processes including monitoring, diagnosing, optimizing, and learning capabilities. It is designed to serve sectors like manufacturing and pharmaceuticals, this tool is part of the TCS Enterprise 5G Edge suite on Microsoft Azure, aiming to revolutionize production with smarter, more flexible, and more resilient operations. It also features the creation of plant information models and offers knowledge guidance to operators.

The cognitive computing market covered in this report is segmented -

1) By Component: Platform, Service
2) By Technology: Machine Learning (ML), Human Computer Interaction, Natural Language Processing (NLP), Deep Learning
3) By Deployment mode: On-Premise, Cloud, Hybrid
4) By End-User: Banking, Financial Services And Insurance (BFSI), Healthcare, Retail And E-commerce, Information Technology And Telecom, Government And Defense, Other End Users

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Major companies operating in the cognitive computing market report are Amazon.com Inc., Alphabet Inc., Samsung Group, Microsoft Corporation, Meta Platforms Inc., Dell Technologies Inc., Huawei Technologies Co. Ltd., Tencent Holdings Ltd., Siemens AG, General Electric Company, International Business Machines Corporation, Qualcomm Inc., Oracle Corporation, Honeywell International Inc., SAP SE, Hewlett-Packard Enterprise Company, Nvidia Corporation, Salesforce Inc., Baidu Inc., Palantir Technologies Inc., OpenAI, UiPath, C3.ai Inc., DataRobot Inc., Clarifai Inc.

Contents of the report:
1. Executive Summary
2. Cognitive Computing Market Report Structure
3. Cognitive Computing Market Trends And Strategies
4. Cognitive Computing Market - Macro Economic Scenario
5. Cognitive Computing Market Size And Growth
…..
27. Cognitive Computing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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