Cognitive Operations Market is valued at approximately USD $$billion in 2021 and is anticipated to grow with a healthy growth rate of more than $$% over the forecast period 2022-2029. Cognitive Operations uses artificial intelligence to perform mental operations. It includes interpretation, transformation, manipulation, storage, etc. Cognitive operations enable to maintenance, analysis, monitor large and complex data with ease. The Cognitive Operations market is expanding because of factors such as the rising adoption of cloud-based cognitive IT operations solutions and the growing demand for monitoring the computer IT Environment in the forecast period.
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According to Statista in 2022, the cloud computing market generates revenue of around USD 400 billion in 2021. And it is expected to increase rapidly globally. It includes the adoption of IT services, use of networks of remote services, accessed over the internet. Whereas rising demand from end-user industries and growing R&D activities by market players create lucrative opportunities for the market. However, a lack of skilled professionals and expertise hampers the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cognitive Operations Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the increasing demand from end-use industries, and the growing adoption of cognitive operation solutions across banking, telecommunication, financial services, and so on. Whereas the Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as increasing penetration of market players, growing R&D activities, and investment towards digitalization
Major market players included in this report are:
Broadcom Inc.
IBM Corporation
VMware, Inc.
Micro Focus International Plc
Splunk Inc.
HCL Technologies Limited
BMC Software, Inc.
New Relic, Inc.
CloudFabrix Software Inc.
Servicenow Inc
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Recent Developments in the Market:
In December 2021, TCS launched TCS Cognix, a ready-made solution ecosystem that accelerates digital transformation and is powered by the Machine First Delivery Model (MFDM). It orchestrates the digital technology ecosystem logically, innovatively, and modularly and contextualizes solutions using domain knowledge. TCS Cognix assists in the realization of a configurable enterprise, allowing organizations to gain a competitive advantage through cognitive operations.
In November 2021, Beyond Limits, a company that develops industrial and enterprise-grade AI software, announced the general availability of its new Luminai Refinery Advisor, which was created in collaboration with bp. Beyond Limits’ Cognitive AI software is used in this cloud-based offering to better adhere to commercial operating plans, capture and operationalize expert knowledge, reduce production material costs, maximize operational efficiencies, accelerate time to market, and reduce waste in various sectors.
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component, Deployment Mode, Enterprise Size, Application, Industry Vertical, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Component:
Solutions,
Services
By Deployment Mode:
Cloud
On Premises
By Enterprise Size:
Large Enterprises,
Small Sized Enterprises
Medium-Sized Enterprises
By Application:
IT Operations Analytics,
Application Performance Management,
Network Analytics,
Security Analytics,
Infrastructure Management
By Industry Vertical:
BFSI,
Healthcare & Life Sciences,
IT & Telecom,
Retail & E-commerce
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market Overview:
- Provides a general introduction to the market, including its size, growth rate, and key characteristics.
- This section may also include information on market segmentation, such as by product type, application, or geography.
Industry Trends and Drivers:
- Examines the current trends, developments, and factors driving the growth or decline of the market.
- It may include technological advancements, regulatory changes, consumer preferences, or economic factors that impact the industry.
Market Analysis:
- Offers a detailed analysis of the market’s dynamics, including supply and demand factors, competitive landscape, and market attractiveness.
- This section may include information on market share, market concentration, and competitive strategies of key players.
Market Segmentation:
- Divides the market into distinct segments based on criteria such as product type, application, end-user, or geography.
- This analysis helps identify specific market opportunities and target audiences.
Market Size and Forecast:
- Presents the current market size and estimates future market growth over a specified period.
- -This section may include historical data, market projections, and growth rates for different segments.
Competitive Analysis:
- Assesses the competitive landscape of the market, including the profiles of major players, their market share, and strategies.
- It may also include SWOT analysis (strengths, weaknesses, opportunities, threats) of key competitors.
Market Opportunities and Challenges:
- Identifies potential growth opportunities and challenges in the market. This section may highlight emerging market segments, untapped regions, or technological advancements that can drive market expansion.
- It may also address barriers to entry, regulatory hurdles, or competitive threats.
Consumer Insights:
- Provides an understanding of consumer behavior, preferences, and buying patterns related to the market.
- This section may include survey data, consumer demographics, and customer feedback.
Future Outlook and Recommendations:
- Offers insights into the future prospects of the market and provides recommendations for businesses or stakeholders.
- This section may suggest strategies for market entry, product development, marketing, or investment decisions.
Appendix:
- Includes additional data, charts, tables, or references that support the analysis presented in the report.
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