The global cognitive data management market is forecast to reach USD 2.03 Billion by 2026, according to a new report by Reports and Data. Integration of various factors has propelled the growth of cognitive data management market. Mentionable factors in this context being the developments in IT industry infrastructure, vast adoption of IoT based devices in the functioning of different end-user industries, which are boosting the incorporation of advanced data management and analytics solutions. High integration of advanced data management and analytics solutions is, in turn, promoting the growth of the cognitive data management market. As a result of advancements in intelligent algorithms, and developments in advanced tools, the increased demand for cognitive computing solutions among industries dealing with extensive data like the Banking, Financial Services, and Insurance [BFSI] sector, and others are boosting the growth of the cognitive data management market.
Several initiatives taken by the key players of the market are also having a positive impact on the growth of the market. As an instance, in 2016, IBM collaborated with General Motors and launched OnStar Go, a cognitive mobility platform. With the help of the platform, GM drivers gained the ability to connect with their preferable platforms. Such collaborative initiatives expand the area of application of cognitive data management and contribute to its market expansion.
In regards to the region, Europe occupies the second-largest market share in the cognitive data management market. The prominent market presence of the region is attributed to fast incorporation of cognitive data management solutions in the functioning of SME and vast inclusion of cloud technology in their operation.
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The report is an engaging document that provides vital statistical information about the market in terms of dales, revenue, market share, and market size with regards to product types, application spectrum, regional bifurcation, leading players, and technological advancements.
A comprehensive analysis of the competitive landscape is offered in the report along with a study of the company profiles, product portfolio, manufacturing and production capacity, technological developments, R&D advancements, and strategic initiatives of the prominent players of the industry. Prominent players operating in the industry and profiled in the report include Microsoft, Cognizant, Infosys, Oracle, Wipro, IBM, Saksoft, Attivio, Pingar, and Cogntivescale.
The Global Cognitive Data Management Market is segmented as follows:
Component Type Outlook (Revenue, USD Billion; 2020-2026)
- Solutions
- Data Governance and Quality
- Data Migration and Integration
- Others
- Services
- Integration services
- Consulting
- Maintenance and support
Deployment Type Outlook (Revenue, USD Billion; 2020-2026)
- Cloud
- On-Premises
Organization size Type Outlook (Revenue, USD Billion; 2020-2026)
- Large Enterprises
- Small and Medium-Sized Enterprises
Business function Type Outlook (Revenue, USD Billion; 2020-2026)
- Legal and Finance
- Operations, marketing, and sales
- Human resource
End-users Type Outlook (Revenue, USD Billion; 2020-2026)
- Banking, Financial Services, and Insurance (BFSI)
- Telecom, Media and IT
- Manufacturing
- Government and Legal Services
- Healthcare and Pharmaceuticals
- Others
Application Type Outlook (Revenue, USD Billion; 2020-2026)
- Behavioral recommendations
- Speech recognition
- Face detection
- Fraud detection
- Risk assessment
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The report provides an explicit analysis of the market with regards to growth driving factors, restraining factors, regulatory framework, threats and opportunities, financial hurdles to offer a thorough outlook of the market. The report also covers value chain analysis, market share, market size, CAGR, sales and revenue, import/export, the scope of the market, growth prospects,and other key factors.The report offers a regional analysis that covers key geographies such as North America, Europe, AsiaPacific, Latin America, and Middle East & Africa.
The report applies advanced analytical tools such as SWOT analysis, Porter’s Five Forces analysis, along with feasibility analysis and investment return analysis. It also offers strategic recommendations to new entrants as well as established companies about market barriers. It also offers insights into futuristic business opportunities, market scope, threats, and obstacles, to enable fruitful business decision-making process.
Furthermore, the report renders a complete analysis of the Cognitive Data Management market that allows readers to formulate profitable and lucrative business strategies by offering insights into the competitive landscape, crucial market details, growth prospects, regional rules and regulations, and other key factors.
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