PUBLISHER: Grand View Research | PRODUCT CODE: 1571461
PUBLISHER: Grand View Research | PRODUCT CODE: 1571461
Healthcare Cognitive Computing Market Size, Share & Trends Analysis Report By Technology (Natural Language Processing, Machine Learning, Automated Reasoning), By Deployment, By Region, And Segment Forecasts, 2024 - 2030
Healthcare Cognitive Computing Market Growth & Trends:
The global healthcare cognitive computing market size is expected to reach nearly USD 44.65 billion by 2030, registering a CAGR of 27.0%, according to a new report by Grand View Research, Inc. Key factors attributing to the market growth are rapid growth in the scientific database, demand for personalized healthcare, and the need to reduce healthcare expenditure levels. Increasing geriatric population is a major factor increasing the prevalence rate of several diseases.
Information technology and big data analytics penetration in the healthcare industry is presently very less, and to tackle the increasing healthcare expenditure and improve customer experience, many manufacturers and research organizations are actively collaborating with technology firms to improve their products and services.
In 2015, big healthcare firms such as Johnson and Johnson (J&J) and Medtronic have partnered with IBM to utilize its cognitive computing platform Watson. J&J plans to utilize Watson to create a personal concierge service which can be used to prepare patients for knee surgery. Medtronic will use Watson to develop an internet of things (IOT) platform around its medical devices to collect data from patient's personal use to understand product performance and patient response.
Furthermore, Apple has also invested significantly in the Watson platform to develop an IOS vendor ecosystem for its HealthKIT and ReasearchKit tool systems. These vendors would develop apps and other systems for personal health data collection, and utilizing the data for clinical trials and other healthcare applications.
In 2023, the natural language processing technology market accounted for the largest share at 41.9%, due to its ability to learn natural language key words, and different languages, thereby enabling easy user interface. Additionally, platforms such as IBM Watson are enabling the new startups to collaborate and develop new mobile and cloud applications. However, automated reasoning is expected to be the fastest growing with a over the forecast period, owing to its ability to apply logical reasoning and solve complex problems.
Healthcare Cognitive Computing Market Report Highlights:
- The Natural Language Processing (NLP) segment dominated the market in 2023, with a share of 41.9%. The factors attributing to the market growth are the increased applications of NLP, as natural language keywords are utilized to make searching easier during scenarios and analysis.
- The cloud segment dominated the market in 2023, with a share of 72.0%. The market growth is due to the ability of cloud-based cognitive computing to scale, adapt, and be cost-efficient.
- North America dominated the global healthcare cognitive computing market with a revenue share of 38.8% in 2023. This growth was attributed to advanced technological infrastructure and increased investment by government and private institutes in artificial intelligence and cognitive technologies.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Healthcare Cognitive Computing Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.4. Healthcare Cognitive Computing Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
- 3.4.1. Porter's Analysis
Chapter 4. Healthcare Cognitive Computing Market: Technology Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Healthcare Cognitive Computing Market: Technology Movement Analysis, USD Million, 2023 & 2030
- 4.3. Natural Language Processing
- 4.3.1. Natural Language Processing Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Machine Learning
- 4.4.1. Machine Learning Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Automated Reasoning
- 4.5.1. Automated Reasoning Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Information Retrieval
- 4.6.1. Information Retrieval Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Healthcare Cognitive Computing Market: Deployment Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Healthcare Cognitive Computing Market: Deployment Movement Analysis, USD Million, 2023 & 2030
- 5.3. Cloud
- 5.3.1. Cloud Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. On-Premise
- 5.4.1. On-Premise Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Healthcare Cognitive Computing Market: Regional Estimates & Trend Analysis
- 6.1. Healthcare Cognitive Computing Market Share, By Region, 2023 & 2030, USD Million
- 6.2. North America
- 6.2.1. North America Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. U.S. Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Canada Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.4. Mexico
- 6.2.4.1. Mexico Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Europe Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.3.2. UK
- 6.3.2.1. UK Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Germany
- 6.3.3.1. Germany Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.4. France
- 6.3.4.1. France Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.5. Italy
- 6.3.5.1. Italy Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.6. Spain
- 6.3.6.1. Spain Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.7. Denmark
- 6.3.7.1. Denmark Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.8. Sweden
- 6.3.8.1. Sweden Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.9. Norway
- 6.3.9.1. Norway Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Japan
- 6.4.2.1. Japan Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.3. China
- 6.4.3.1. China Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.4. India
- 6.4.4.1. India Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5. Australia
- 6.4.5.1. Australia Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.6. South Korea
- 6.4.6.1. South Korea Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.7. Thailand
- 6.4.7.1. Thailand Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. Latin America Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Brazil
- 6.5.2.1. Brazil Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.3. Argentina
- 6.5.3.1. Argentina Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Middle East and Africa
- 6.6.1. Middle East and Africa Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. South Africa
- 6.6.2.1. South Africa Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.3. Saudi Arabia
- 6.6.3.1. Saudi Arabia Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.4. UAE
- 6.6.4.1. UAE Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.5. Kuwait
- 6.6.5.1. Kuwait Healthcare Cognitive Computing Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis by Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Heat Map Analysis
- 7.4. Company Profiles
- 7.4.1. Microsoft
- 7.4.1.1. Participant's Overview
- 7.4.1.2. Financial Performance
- 7.4.1.3. Product Benchmarking
- 7.4.1.4. Recent Developments/ Strategic Initiatives
- 7.4.2. IBM Corporation
- 7.4.2.1. Participant's Overview
- 7.4.2.2. Financial Performance
- 7.4.2.3. Product Benchmarking
- 7.4.2.4. Recent Developments/ Strategic Initiatives
- 7.4.3. NVIDIA Corporation
- 7.4.3.1. Participant's Overview
- 7.4.3.2. Financial Performance
- 7.4.3.3. Product Benchmarking
- 7.4.3.4. Recent Developments/ Strategic Initiatives
- 7.4.4. Intel Corporation
- 7.4.4.1. Participant's Overview
- 7.4.4.2. Financial Performance
- 7.4.4.3. Product Benchmarking
- 7.4.4.4. Recent Developments/ Strategic Initiatives
- 7.4.5. Iterx Group
- 7.4.5.1. Participant's Overview
- 7.4.5.2. Financial Performance
- 7.4.5.3. Product Benchmarking
- 7.4.5.4. Recent Developments/ Strategic Initiatives
- 7.4.6. GE Healthcare
- 7.4.6.1. Participant's Overview
- 7.4.6.2. Financial Performance
- 7.4.6.3. Product Benchmarking
- 7.4.6.4. Recent Developments/ Strategic Initiatives
- 7.4.7. Medtronic
- 7.4.7.1. Participant's Overview
- 7.4.7.2. Financial Performance
- 7.4.7.3. Product Benchmarking
- 7.4.7.4. Recent Developments/ Strategic Initiatives
- 7.4.8. Oracle
- 7.4.8.1. Participant's Overview
- 7.4.8.2. Financial Performance
- 7.4.8.3. Product Benchmarking
- 7.4.8.4. Recent Developments/ Strategic Initiatives
- 7.4.9. Medidata
- 7.4.9.1. Participant's Overview
- 7.4.9.2. Financial Performance
- 7.4.9.3. Product Benchmarking
- 7.4.9.4. Recent Developments/ Strategic Initiatives
- 7.4.10. Google
- 7.4.10.1. Participant's Overview
- 7.4.10.2. Financial Performance
- 7.4.10.3. Product Benchmarking
- 7.4.10.4. Recent Developments/ Strategic Initiatives
- 7.4.1. Microsoft
