Cognitive Operations Market To Reach USD 23.2 Billion In 2025

Global Cognitive Operations Market: Key Highlights

According to the new market research report “Cognitive Operations Market by Deployment Type (Cloud and On-premises), by Component (Solution and Services), by Application (Application Performance Management (APM), IT Operations Analytics (ITOA), Digital Performance Management (DPM), Network Performance Analytics, Security analytics), by End-Use (BFSI, Healthcare, Media and Entrainment, Manufacturing, ITES and Telecommunications, Retail and Consumer Good and Others) by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast (2018 to 2025)”, the global cognitive operations market is estimated to reach USD 23.2 Billion in 2025 at a CAGR of 22.3% during forecast period 2018-2025.
Advancement in IT operations system helps the IT operation to detect and analyses quantities of data and automate complete IT processes which will drive the cognitive operation market during the forecast period.
However, the lack of IT operation expertise expected to hinder the growth of the market during the forecast period.

Cognitive Operation Market

Global Cognitive Operations Market: Key Market Dynamics

Increasing demand for cloud-based technology helps the organization and companies to easily analyse capabilities into the various business application which is expected to surge the cognitive operations market during the forecast period.
Advancement in IT operations is used to anticipate failures before its happen which helps companies and organizations to schedule the preventive maintenance in advance which is projected to boost the growth of cognitive operations market.
Lack of IT Operation Expertise with the new emerging technology is a major limiting factor is expected to hinder the cognitive operations market during the forecast period.
The increasing need to analyze growing IT operations data to enhance their operational efficiency and streamline business operations which are excepted to boost the growth on the market.

Global Cognitive Operations Market: Regional Overview

Asia-Pacific

Asia-Pacific is a leading region in technological development which includes China, Japan and South Korea. According to Cisco Systems, Inc., anticipated that in Asia-Pacific, big data analytics (43%) and IoT (43%) are the significant and influential technologies among digital automation technologies followed by cloud (37%) advanced robotics (26%), 3D visualization (24%) and 3D printing (21%). The region economies such as Japan, South Korea, Singapore, and Taiwan, China indicated that ICT and digital automation are becoming a growing element of the economic, social and government development.

Europe

Western Europe is the second-largest region in terms of spending on machine learning and the Artificial Intelligence project. However, in 2018 Western Europe with spending of €2.6 billion in AI, there is growth in the financial sector. It has been anticipated that by 2022, there will be a large interest in both public and private sector which is excepted to increase total spending €9.4 billion.

Global Cognitive Operations Market: Key Players Overview

IBM Corporation:

International Business Machines (IBM), is a global technology company that provides cloud-based services, hardware and software. With IBM solution for cognitive network operations center or cognitive service operation center where the organization can leverage cognitive computing to reduce the operational costs and to improve network and services availability. Also, improve customer satisfaction and helps to reduce service-level agreement.

Splunk Inc.:

Splunk Inc. develops web-based application software. The company provides software that collects and analyzes machine data generated by websites, applications, servers, networks, and mobile devices. It is a technology company that provides operational intelligence software that monitors and analyzes real-time machine data. Splunk software can help to increase and simplify the IT operation to boost service and productivity.

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