PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300812
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300812
Global Cognitive Analytics Market is valued at approximately USD 2.77 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 40% over the forecast period 2023-2030. Cognitive analytics refers to the use of advanced technologies, such as artificial intelligence (AI), machine learning, natural language processing, and data mining, to analyze and interpret complex sets of data and provide insights and actionable intelligence. It combines the fields of cognitive computing and data analytics to gain a deeper understanding of data and enable decision-making. The Cognitive Analytics Market is expanding because of factors such as the increasing adoption of big data and cloud computing and the increasing volume of unstructured data.
The rising volume of unstructured data across the globe is fostering market growth. International Data Corporation predicts that by 2025, there would be 175 zettabytes of data worldwide (that's 175 with 21 zeros), with 80% of that data being unstructured, up from 2.6 ZB in 2018. In addition, the increasing adoption of cognitive computing technology and increasing adoption of AI based business applications is creating lucrative growth in the market. However, the high cost of cognitive analytics and complex analytical process stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Cognitive Analytics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players, a rising amount of data generation, and rising technological advancement in the region. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising demand from end use industries, and rising volume of data generated in the market space.
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 Componentofferings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable