Cognitive Computing Technology Market
A new market study, titled “Cognitive Computing Technology Market ” has been featured on Market Research Future.
The emergence of disruptive technologies initiated the debate if technology will soon replace the need for humans to solve problems. Cognitive skills of humans are reckoned as their efficacy to learn and simplify problems. As the biological machine requires time to cope with changes, inspired by human mind, cognitive computing technology was developed. Cognitive computing technology will assist human to simplify their cerebral tasks. For instance, the expansion of patient populace is creating a both structured and unstructured database. Cognitive computing technology will rationally analyze the large volume of data of a patient, thereby simplifying the patient’s history to doctor. This can aid the physician decide an effective therapeutic regime. It is understood that cognitive computing technology just manages the tedious task for a physician, which, otherwise, holds several scope for error.
More Information@ https://www.marketresearchfuture.com/reports/cognitive-computing-technology-market-1533
Cognitive computing technology is responsible for backing humans to enhance their productivity than replacing human at work. With social media platforms gaining considerable traction, rapid industrialization, and surge in electronic transactions; high amount of data is produced by different sectors. The rise in need for greater productivity to deal with dynamic worklife condition are forging the adoption of cognitive computing technology across several industries.
Market Research Future (MRFR), in its revised “Cognitive Computing Technology Market” report, addressed factors that are contributing to the sharp rise in the market’s valuation. As per MRFR study, the cognitive computing technology global market can attain USD 25 Bn at 35% CAGR by 2023. MRFR employed modern, proven research methodologies to conduct the cognitive computing technology market study. The report highlights the impact of key players on the market and major influencers of the market.
Healthcare, travel and hospitality are major vendee of cognitive computing technology. Finance, sports and entertainment, and business are other well-known end-users of the emerging technology. Welltok, a US-based SaaS company providing consumer health, offers Concierge. A cognitive tool that stages rapid processing of vast information of medical data to deliver appropriate answers and recommendations. Welltek, a Ukrainian software company, developed CafeWell, a trending healthcare cognitive system. LifeLearn, a veterinary healthcare institution in Canada, offer a cognitive ability powered clinical decision support. Among fitness-conscious people, cognitive computing solutions are gaining popularity due to the demand for customized fitness plans.
Edge Up Sports, a US sport utility provider, are adopting cognitive computing technology that delivers performance insights of athletes to coaches. This not only aid coach to monitor trainee’s progress but also make required changes in training programs. GF Consulting’s, an Australian engineering firm, AskGordy, a cognitive tool that aid to resolve the process to extract actionable information in document management systems. Documentation is a crucial element in business. Thus, the contribution of cognitive computing technology in general business is immense. These have powerful impact on the expansion of the cognitive computing technology market.
The need to expedite research, especially in the healthcare field has increased than ever. For instance, the cure for coronavirus needs to be spilled immediately to stop the spread of COVID-19 infection and especially the paranoia induced by it. Big data technology plays a pivotal role to speed-up investigations in medicine. IBM’s cognitive analytics is observed to bestow the efficacy of big data technology in medicine design. For example, Watson, the cognitive computing technology developed by IBM can address rising issues with large set database on life science.
Along with the upscaling demand for cognitive computing technology across healthcare sector, partnerships of reputed medical providers with IT companies can boost the growth of the cognitive computing technology market. In APAC, the joined force of Wipro LTD, a leading IT global company of Indian origin, and PLEXIS Healthcare Systems, a trusted management solution provider to healthcare organizations.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: [email protected]
Cognitive Computing Technology MarketThe emphasis on ensuring a human level thinking and cognition in computers is furthering the growth of cognitive computing technologies.
The higher adoption rates and the progress in computing platforms such as mobile, cloud, and data analytics will drive the market for cognitive computing technology.Market Potential and PitfallsThe cognitive computing technology market is gaining huge attention in the global market due to the advancements in cognitive computing, which has resulted in its higher adoption.
Top players are focusing on R investments in order to embrace advanced cognitive solutions.
Huge data present, along with the business organizations, is generally in the form of videos, human language, and pictures consisting of valuable information.
To process the data, there is a strong requirement for cognitive analytic technologies like machine learning and NLP.
The impact of cognitive computing on traditional business applications along with the dearth of awareness among the SMEs, especially in the developing economies are certain factors curbing the growth of the market across the globe.Regional FrontiersGeographically, the cognitive computing technology market spans across Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).Considering the global scenario, the North American region acquires the lion’s share in the global market, mainly due to the advancing technology and increasing volume of unstructured data.
Cognitive computing is generally executed with the help of a computer-generated model which can mimic the human procedure of cognitive ability and thinking in the form of simulation over a specialized platform.
These systems are independent of human assistance and result in accurate outcomes and zero human error.Market Potential and PitfallsThe cognitive computing technology market is gaining huge attention in the global market due to the advancements in cognitive computing, which has resulted in its higher adoption.
Huge data present, along with the business organizations, is generally in the form of videos, human language, and pictures consisting of valuable information.
To process the data, there is a strong requirement for cognitive analytic technologies like machine learning and NLP.
The impact of cognitive computing on traditional business applications along with the dearth of awareness among the SMEs, especially in the developing economies are certain factors curbing the growth of the market across the globe.Global Cognitive Computing Technology Market: Segmental AnalysisThe global cognitive computing technology market is segmented on the basis of technology, organization size, end-user, and deployment.By mode of technology, the cognitive computing technology market is segmented into machine learning, natural language processing (NLP), automated reasoning, and others.Based on organization size, the cognitive computing technology market constitutes of large enterprises and SMEs.
Owing to the high adoption of cloud services, SMEs indulge in the global cognitive computing market.The end-users segment comprises retail, banking & financial service, IT & telecom, aerospace & defense, automotive & transportation, energy & power, and others.
