The cognitive cloud computing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cognitive Cloud Computing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cognitive cloud computing market size has grown exponentially in recent years. It will grow from $32.21 billion in 2023 to $42.36 billion in 2024 at a compound annual growth rate (CAGR) of 31.5%. The growth in the historic period can be attributed to adoption of cloud computing infrastructure and services, demand for data analytics and insights across various industries, expansion of hybrid and multi-cloud strategies, and rise of Internet of Things (IoT) devices.
The cognitive cloud computing market size is expected to see exponential growth in the next few years. It will grow to $127.99 billion in 2028 at a compound annual growth rate (CAGR) of 31.8%. The growth in the forecast period can be attributed to increasing adoption of AI and machine learning, growing need for advanced cloud computing solutions, proliferation of Internet of Things (IoT) devices, rise of personalized customer experiences, and demand for cost-efficient IT solutions. Major trends in the forecast period include increased adoption of cognitive cloud computing solutions, increasing adopt hybrid and multi-cloud strategies, integration of AI technologies, growing trend towards incorporating cognitive capabilities into edge computing environments, and increasing regulatory requirements.
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Scope Of Cognitive Cloud Computing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cognitive Cloud Computing Market Overview
Market Drivers –
Major Driver Impacting Market Growth
Market Trends –
Major companies operating in the cognitive cloud computing market are developing innovative solutions, such as generative artificial intelligence (AI) and AI-based cognitive intelligence platforms, to gain a competitive edge in the market. A generative artificial intelligence (AI)-based cognitive intelligence platform is a system that combines generative AI techniques with cognitive computing capabilities to create intelligent and adaptable solutions. For instance, in March 2024, Mphasis, an India-based information technology solutions company, launched DeepInsights Doc AI. This cognitive intelligence platform powered by generative AI transforms document processing. DeepInsights Doc AI utilizes generative AI technology to extract context-specific information from documents and integrate it with downstream IT systems. The platform can handle different types of content, such as text, forms, tables, and images, and accurately extract relevant information.
The cognitive cloud computing market covered in this report is segmented –
1) By Type: On-Premises Software, Cloud-Based Services
2) By Technology: Natural Language Processing, Machine Learning, Automated Reasoning, Other Technologies
3) By Application: Healthcare, Banking, Financial Services, And Insurance (BFSI), Retail, Government, Information Technology (IT) And Telecommunication, Security, Other Applications
4) By End-User: Large Enterprises, Small And Medium Businesses (SMEs)
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Regional Insights –
North America was the largest region in the cognitive cloud computing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive cloud computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cognitive cloud computing market are Alphabet Inc., Microsoft Corporation, Alibaba Group Holding Limited, Dell Inc., Amazon Web Services, Accenture plc, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Cisco Systems Inc., PricewaterhouseCoopers International Limited, Oracle Corporation, SAP SE, NVIDIA Corporation, Hewlett Packard Enterprise Company, Tata Consultancy Services Limited, Salesforce.com Inc., Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Adobe Inc., VMware Inc., HCL Technologies Limited, Wipro Limited, Red Hat Inc., BMC Software Inc., Mphasis Limited
Table of Contents
1. Executive Summary
2. Cognitive Cloud Computing Market Characteristics|
3. Cognitive Cloud Computing Market Trends And Strategies
4. Cognitive Cloud Computing Market – Macro Economic Scenario
5. Global Cognitive Cloud Computing Market Size and Growth
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32. Global Cognitive Cloud Computing Market Competitive Benchmarking
33. Global Cognitive Cloud Computing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cognitive Cloud Computing Market
35. Cognitive Cloud Computing Market Future Outlook and Potential Analysis
36. Appendix
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