In this rapidly changing world of technology, cognitive analytics market is projected to show major growth prospects during the forecast period. Major factors driving the growth of cognitive analytics market is the increasing adoption of internet of things and growing data generation which needs real time analysis.
Analyzing consumer behaviors with cognitive analytics helps in tracing the behavior patterns of customer and can enable target advertising. Cognitive analytics provides with a view of customer satisfaction and based on customer impact will help in prioritizing the improvements for the business.
As compared to other regions, the Cognitive Analytics Market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of cognitive analytics market.
This is owing to the presence of large number of established service providers in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides high speed connectivity.
This is expected to be a major factor for the growth of cognitive analytics market.
Cognitive Analytics Market Players:
- Google, Inc. (U.S.)
- IBM Corporation (U.S.)
- Microsoft Corporation (U.S.)
- Palantir Technologies, Inc. (U.S.)
- Saffron Technology (U.S.)
- ColdLight Solutions (U.S.)
- CognitiveScale (U.S.)
- Enterra Solutions LLC (U.S.)
- Numenta (U.S.)
- Vicarious (U.S.)
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Within Asia Pacific, cognitive analytics market is projected to contribute faster to the market growth owing to its improved quality of enterprise knowledge and competitive positioning in countries such as Japan, China and India. Increasing adoption by small and medium enterprises could be a major factor driving the growth of cognitive analytics market in the region.
Cognitive Analytics Market Segmentation
The cognitive analytics market has been segmented on the basis of technology, deployment, end user and vertical. The end user segment is further bifurcated into small and medium businesses and large enterprises.
Cognitive analytics is increasingly being adopted by many small and large enterprises today owing to its efficiency in providing real time analysis of massive and diversified data.
Market Research Analysis:
The regional analysis of cognitive analytics market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period.
The growth in North America region is mainly attributed to the increasing demand for data analysis which will in turn reduce the response timing and provide better prouctivity.
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- Technology investors
- Integrated device manufacturers (IDMs)
- Original equipment manufacturers (OEMs)
- Research/Consultancy firms
- Cloud solution provider
- System Integrators
- External Service Providers (ESPs)
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