Cognitive Analytics Market by Deployment (Cloud, On-premises), by Enterprise Type (Large Enterprises, Small & Medium Enterprises), by Application (Customer Management, Fraud Detection & Security, Supply Chain Management, Sales & Marketing Management, Others), by End-user (BFSI, IT & Telecom, Government, Retail, Healthcare, Education, Others), by By Deployment (Cloud, On-premises), by South America (Brazil, Argentina, Rest of South America), by Europe (U.K., Germany, France, Italy, Spain, Russia, Benelux, Nordics, Rest of Europe), by Middle East and Africa (Turkey, Israel, GCC, North Africa, South Africa, Rest of the MEA), by Asia Pacific (China, Japan, India, South Korea, ASEAN, Oceania, Rest of Asia Pacific) Forecast 2024-2032
The Cognitive Analytics Marketsize was valued at USD 3.95 USD Billion in 2023 and is projected to reach USD 25.87 USD Billion by 2032, exhibiting a CAGR of 30.8 % during the forecast period.Cognitive analytics as an advanced analytics solution leverages the aggregate processing of text, speech, data, and other kinds of information with the use of artificial intelligence, machine learning, and natural language processing to unearth deeper insights from complex data. Different from conventional analytics that typically work with predetermined queries, cognitive analytics can analyze, comprehend, and learn from data through the usage of data in the same way that brains do. Cognitive analytics focuses on processing unstructured data like texts, images, and audios, thus integrating into the expanding data sources and helping organizations discover many useful hidden ideas. It additionally provides "real-time" analysis, which enables businesses to take decisions under data-driven conditions immediately. Apart from the fact that the merits of cognitive analytics are obvious, there are also plenty of them. Through exposing the hidden relationships, patterns, and correlations in data, it assists organizations in spotting trends, forecasting consumer expectations, and improving operations. It can reduce the necessity of standard procedural jobs and release manpower for creative and strategy-focused missions. Also, cognitive analytics of this kind enables the generation of predictive models, enabling organizations to forecast future events with more accuracy. On the other hand, it provides better outputs, which leads to increased performance.
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September 2023: Ericsson launched advanced troubleshooting capabilities with an extension of Ericsson Expert Analytics. July 2023: NeuroCatch Inc. announced partnership with HealthTech Connex to support mental performance. May 2023: Microsoft launched Microsoft Fabric, a unified analytics platform. May 2023: Tata Consultancy Services collaborated with Google LLC Cloud to provide generative AI and cognitive-powered services. March 2023: Tata Consultancy Services launched 5G-powered cognitive plant operations adviser.
The market report provides a comprehensive analysis of the cognitive analytics market, including:
The cognitive analytics market is poised for significant growth due to increasing adoption of AI and machine learning technologies, rising demand for data-driven decision-making, and growing awareness of cognitive analytics capabilities. Key players in the market are investing heavily in research and development to enhance their offerings and maintain a competitive edge.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 30.8% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 30.8% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
Secondary Research
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