Cognitive Computing Market - Rising Adoption of Cloud-Based Applications Acts as Boon

Albany, NY -- (SBWire) -- 09/21/2018 --The market overview section of the report showcases the market dynamics and trends such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. It also provides an overview about the key market indicators given across the five geographical regions. Under the porter's five forces analysis section, a brief analysis of the level of competition within the cognitive computing industry and business strategy development is provided in order to determine the competitive attractiveness and intensity of the cognitive computing market. Reports also includes key industry developments covering significant advances made by leading market players.

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Based on deployment type, the global cognitive computing market has been segmented into on-premise and cloud. The cloud segment held the largest share in 2016, contributing nearly 65.4% to revenue generated by the global market revenue share. The segment is also expected to report a higher CAGR, thus remaining the market lead through the forecast period. In terms of application, the market is classified into diagnostic API's, robotics, cyber security, farm mechanization, social media monitoring, self-driving cars, gaming, video surveillance, E-learning, IT infrastructure management, supply chain management, and others.

By industry vertical, healthcare, BFSI, it & telecom, manufacturing, energy & utility, retail, aerospace & defense, government, transportation, agriculture, media & entertainment, education, HR, and marketing & PR have been exhibiting considerably high demand for cognitive computing. Of these, the healthcare industry held the dominant market share in 2016.

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Based on the end-user, the market is categorized as large enterprises, small & medium enterprises and public sector. Of these, holding a share of nearly 49.8% of the market, large enterprises emerged as the dominant segment in 2016. The segment is forecast to remain dominant through the course of the forecast period.

Regionally, Asia Pacific, South America, North America, Europe, and the Middle East & Africa constituted the key market segments. Among these regions, North America held dominance in 2016. However, during the course of the forecast period, the Middle East & Africa market is likely to offer more lucrative prospects.