What’s Driving Growth in the Cognitive Operations Market? Insights into Key Trends and Opportunities
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How has the cognitive operations market grown over the years?
The dimensions of the cognitive operations market have experienced vast expansion in the past few years. The market value, which is projected to increase from $13.17 billion in 2024 to $16.25 billion in 2025, is expected to manifest a compound annual growth rate (CAGR) of 23.4%. The significant growth during the historical duration can be credited to the escalation in cyber threats and cyberattack incidents, hurdles in incident responses, the enhancing complexity of malware, and worldwide connectivity.
What Is the forecasted market size and growth rate for the cognitive operations market?
Expectations for the cognitive operations market size promise substantial expansion in the coming years, with a predicted growth of $34.65 billion by 2029, operating at a 20.8% compound annual growth rate (CAGR). The projected growth during the forecasted timeframe can be credited to the escalating adoption of IOT, the necessity for cloud security, the implementation of zero trust security models, an evolving threat environment, and advanced persistent threats. Major trends within this period are forecasted to include enhanced integration with cloud security, AI-boosted threat intelligence, ongoing adaptive risk and trust evaluation, technologies that preserve privacy, and collaborative sharing of threat intelligence.
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What are the major factors driving growth in the cognitive operations market?
The accelerated pace of digital transformation is anticipated to stimulate the expansion of the cognitive operations market in the future. This transformation involves a thoughtful merging and fine-tuning of digital technologies, information-driven systems, and inventive business techniques to improve operational competence, customer engagement, and overall competitiveness within a company. Enhancement of cognitive operations is made possible by the application of sophisticated technologies such as artificial intelligence and machine learning. These technologies automate mundane tasks, scrutinize enormous quantities of data for informed decision-making, and enable cognitive functions that result in more flexible, effective, and intelligent business procedures. For example, in 2023, as reported by Eurostat, a statistical institution based in Luxembourg of the European Union, 70% of all EU businesses achieved a basic digital intensity level in 2022. Small and medium-sized enterprises (SMEs) stood at 69%, roughly 20% points beneath the EU’s target for 2030, whereas large businesses touched 98%. Hence, the acceleration in digital transformation is fueling the expansion of the cognitive operations market.
What key areas define the segmentation of the global cognitive operations Market?
The cognitive operations market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Organization Size: Large Enterprise, SMEs
3) By Deployment Mode: Cloud, On-Premises
4) By Application: IT Operations Analytics, Application Performance Management, Infrastructure Management, Network Analytics, Security Analytics, Other Applications
5) By Vertical: BFSI (Banking, Financial Services, And Insurance), Healthcare And Life Science, IT And Telecom, Retail And eCommerce, Manufacturing, Government, Media And Entertainment, Other Verticals
Subsegments:
1) By Solutions: Cognitive Analytics Tools, Machine Learning Solutions, Natural Language Processing (NLP) Solutions, Robotic Process Automation (RPA), Decision Management Systems
2) By Services: Consulting Services, Implementation And Integration Services, Managed Services, Training And Support Services
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What are the top market players propelling the growth of the cognitive operations industry?
Major companies operating in the cognitive operations market report are Alphabet Inc., Microsoft Corporation, AppDynamics, International Business Machines Corporation (IBM), Cisco Systems Inc., Broadcom Inc., VMware Inc., ServiceNow Inc., SAS Institute Inc., Micro Focus International PLC, Splunk Inc., BMC Software, Inc., Palantir Technologies Inc., Dynatrace LLC, New Relic Inc., Sumo Logic, Kofax Inc., HCL Technologies, ScienceLogic Inc., CA Technologies, Corvil, Interlink Software Services Ltd., Bay Dynamics Inc., DEVO Technology Inc., Risc Networks, Loom Systems Inc., Correlata Solutions Inc., Cloudfabrix Software Inc., Logz.io, Zenoss Inc.
What are the key trends shaping the future of the cognitive operations market?
Leading corporations in the cognitive operations market are focusing on the development of new offerings, such as cognitive AI platforms, to establish dominance within the industry. A cognitive AI platform is a sophisticated technology system that combines cognitive computing capabilities- like machine learning, natural language processing, and pattern recognition- to mimic human intelligence and decision-making. In November 2023, for example, Burson Cohn & Wolfe, a PR company based in the US, introduced the Decipher Index. This is a platform that employs cognitive AI to anticipate major global macro trends on the horizon. This system, developed in partnership with Limbik, a cognitive AI firm also based in the US, pinpoints over 20 macro themes and problems likely to stir global interest over the ensuing 12 months. This provides businesses and organizations with invaluable insights to prepare for possible crises or to take advantage of emerging opportunities. The platform’s cognitive AI consistently scrutinizes data, delivering weekly updates and regional rankings on topics varying from elections and artificial intelligence to sustainability and cultural matters. The goal is to equip leaders with immediate information to facilitate proactive decision-making in an evolving and complex environment.
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What regions are dominating the cognitive operations market growth?
North America was the largest region in the cognitive operations market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive operations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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