Cognitive Analytics Market Size

Cognitive Analytics Market size is expected to cross USD 67 Billion by the end of 2036, growing at a CAGR of 28% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of cognitive analytics was over USD 3 Billion. It is anticipated that the expansion of cognitive computing solutions will be supported by the increasing adoption of integrated cloud platforms and artificial intelligence. By 2030, the sector for AI is predicted to expand twentyfold. By 2025, 97 million workers will be there in the AI industry.

In addition, global demand for cognitive analytics is rising at a rapid rate, mainly because predictive analytics is becoming more and more advanced and there is an ongoing desire to improve workplace performance. By offering real-time responses together with the capability to search through vast volumes of data and information, understand context, and determine the most likely response, a cognitive solution system can provide a firm with a competitive edge over its rivals.

Frequently Asked Questions (FAQ)

The increasing adoption of integrated cloud platforms and artificial intelligence are the major factors driving the growth of the cognitive analytics market.

The market size of cognitive analytics is anticipated to attain a CAGR of 28% over the forecast period, i.e., 2024-2036.

The major players in the market are Google LLC, Microsoft Corporation, Cisco Systems Inc., Amazon Web Services, Narrative Science, Nuance Communications, Inc., Enterra Solutions, LLC, SAS Institute Inc., Tata Consultancy Services Ltd., and others.

The natural language processing segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Cognitive Analytics Market Size