Cognitive Data Management Market To Reach USD 2.1 Billion In 2027 | CAGR 19.7% - Forencis Research

Cognitive Data Management Market Size, Share, Trends, Growth, Analysis, Research

Global Cognitive Data Management Market: Key Highlights

  • According to the new market research report “Cognitive Data Management Market by Deployment Mode (Cloud and On-premise), By Component (Solution and Services), by Business Usage (Human Resource, Legal, Finance, and Marketing), By End-User (BFSI, Manufacturing, IT & Telecom, Travel, Media & Entertainment, and Government & Legal Services), By Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast (2018 to 2027)”, the global cognitive data management market is estimated to reach USD 2.1 Billion in 2027 at a CAGR of 19.7% during forecast period 2018-2027.
  • Increasing demand for IoT technology is excepted to improve performance and reduce the workload of the organizations which is expected to boost the market in the forecast period.
  • However, complexity and privacy issues are expected to restrain the growth of the market during the forecast period.

Cognitive Data Management Market

Global Cognitive Data Management Market: Key Market Dynamics

  • Growing usage of IoT-based devices, which will result in upshifting the amount of digital data, and innovative analytics are expected to drive the growth in the cognitive data management market.
  • Some of the organizations are still finding it difficult to adopt cognitive data management which is expected to hinder the cognitive data management market during the forecast period.
  • Technology advancements in industrial IT infrastructure have led to a growth of the cognitive data management market, which is projected to increase the growth of the market in the forecast period.
  • Growing demand for cognitive computing involves the real-time analysis of the data, which gives the ability to solve the problem and may enhance the growth of the market in the forecast period.
  • Adoption for advanced analytics advanced enable organizations to engage with analytics data to perform data analysis and improve efficiency and minimize the risk which may raise the growth of the cognitive data management market.

Global Cognitive Data Management Market: Regional Overview

  • Asia-Pacific

Asia-Pacific region is excepted to become the global innovation center of AI. Now the Chinese government is implementing a national plan to make China a global leader in AI by 2030. It has been found out, 43% of Asia-Pacific companies finds AI important for business growth and development. Moreover, in the next coming year, Asia-Pacific companies will be at the growing stage as machine learning by 48%, natural language processing by 22% and deep learning by 65% advance the stages of business.

  • Europe

The European Commission is excepted to increase its total public and private investment in AI in Europe to be at least 20 billion euros by the end of 2020. In Europe, the United Kingdom and Finland have adopted the AI strategy.  Some of the European big companies are investing in AI such as ABB, Bosch, BMW, and Siemens. The European Commission is investing from past few years to make digitalization hubs across the EU in several business fields.

Global Cognitive Data Management Market: Key Players Overview

  • IBM Corporation:

International Business Machines Corporation (IBM) is a world-leading global multinational technology company. The company provides hardware, software, cognitive computing, and cloud-based services. Cognitive Enterprise is IBM’s vision for the next-generation business model. Furthermore, Cognitive Analytics with IBM service helps to analyze the data.

  • Salesforce.com, Inc.:

Salesforce.com, Inc. is an American cloud-based software company. Salesforce's services allow businesses to use cloud technology to better connect with customers, partners, and potential customers. Salesforce introduced Einstein Image Classification, which allows developers to build apps that include image recognition. Salesforce is now making additional investments in cognitive computing.

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Rep Id : ICT 042

Published : 2020-02-04