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The cognitive cloud computing market size has grown exponentially in recent years. It will grow from $32.21 billion in 2023 to $42.36 billion in 2024 at a compound annual growth rate (CAGR) of 31.5%. The growth in the historic period can be attributed to adoption of cloud computing infrastructure and services, demand for data analytics and insights across various industries, expansion of hybrid and multi-cloud strategies, and rise of Internet of Things (IoT) devices. The cognitive cloud computing market size is expected to see exponential growth in the next few years. It will grow to $127.99 billion in 2028 at a compound annual growth rate (CAGR) of 31.8%. The growth in the forecast period can be attributed to increasing adoption of AI and machine learning, growing need for advanced cloud computing solutions, proliferation of Internet of Things (IoT) devices, rise of personalized customer experiences, and demand for cost-efficient IT solutions. Major trends in the forecast period include increased adoption of cognitive cloud computing solutions, increasing adopt hybrid and multi-cloud strategies, integration of AI technologies, growing trend towards incorporating cognitive capabilities into edge computing environments, and increasing regulatory requirements.

The increasing volume of raw data is expected to drive the growth of the cognitive cloud computing market. With the proliferation of digital devices and IoT technologies, the volume of raw, unstructured data is expanding rapidly across industries. Cognitive cloud computing, leveraging AI algorithms, addresses this challenge by enabling efficient data handling and analysis. For instance, data compiled by the Linux Foundation indicated substantial annual data growth for end-user organizations, underscoring the need for advanced data processing capabilities. This surge in data volume drives demand for cognitive cloud computing solutions, offering organizations actionable insights and decision-making support through automated learning and adaptive features.

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What Are The Key Trends That Influence Cognitive Cloud Computing Share Analysis?
Leading companies in the cognitive cloud computing market are innovating with solutions like generative artificial intelligence (AI) and AI-based cognitive intelligence platforms to stay ahead. A generative AI-based cognitive intelligence platform combines generative AI techniques with cognitive computing to create adaptable solutions. For instance, in March 2024, Mphasis, an India-based IT solutions company, launched DeepInsights Doc AI, a cognitive intelligence platform that uses generative AI to transform document processing. This platform extracts context-specific information from documents and integrates it with IT systems, handling various content types like text, forms, tables, and images.

Which Market Players Are Driving Growth In The Cognitive Cloud Computing Market?
Major companies operating in the cognitive cloud computing market are Alphabet Inc., Microsoft Corporation, Alibaba Group Holding Limited, Dell Inc., Amazon Web Services, Accenture plc, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Cisco Systems Inc., PricewaterhouseCoopers International Limited, Oracle Corporation, SAP SE, NVIDIA Corporation, Hewlett Packard Enterprise Company, Tata Consultancy Services Limited, Salesforce.com Inc., Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Adobe Inc., VMware Inc., HCL Technologies Limited, Wipro Limited, Red Hat Inc., BMC Software Inc., Mphasis Limited

How Is The Global Cognitive Cloud Computing Market Segmented?
1) By Type: On-Premises Software; Cloud-Based Services
2) By Technology: Natural Language Processing; Machine Learning; Automated Reasoning; Other Technologies
3) By Application: Healthcare; Banking, Financial Services, And Insurance (BFSI); Retail; Government; Information Technology (IT) And Telecommunication; Security; Other Applications
4) By End-User: Large Enterprises; Small And Medium Businesses (SMEs)

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The Cognitive Cloud Computing Global Market Report 2024 provides an overview of the cognitive cloud computingmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cognitive cloud computing market forecast analyzes cognitive cloud computing market size, cognitive cloud computing market share, leading competitor and their market positions.

The Table Of Content For The Cognitive Cloud Computing Market Include
1. Cognitive Cloud Computing Market Executive Summary
2. Cognitive Cloud Computing Market Segments
3. Cognitive Cloud Computing Market Size And Template Market Growth Rate
4.  Key Cognitive Cloud Computing Market Trends
5. Major Cognitive Cloud Computing Market Drivers
……
25. Key Mergers And Acquisitions In The Cognitive Cloud Computing Market
26. Top Cognitive Cloud Computing Companies
27. Cognitive Cloud Computing Market Opportunities And Strategies
28. Cognitive Cloud Computing Market, Conclusions And Recommendations
29. Appendix

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