In banking, cognitive systems are used for customer service, advisory and decision-making support, investment consulting, and others. The banking sector is the most attractive vertical segment in the global cognitive systems spending market. In terms of value, the banking segment is expected to gain a significant BPS in the global cognitive systems spending market over the forecast period.
The banking segment was estimated to account for more than 20% value share towards the end of 2019 and is expected to expand at a high CAGR of 15.5% than other segments of the global cognitive systems spending market during the period of forecast.
Also, cognitive analytics, in contrast, allows crunching a company’s big data as well as external information sources to forecast future events and behaviours as well as gives recommendations on the most rational behaviour in a given context. Cognitive systems allow conducting what-if analyses to predict the effect of potential changes in business strategies.
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The global cognitive systems spending market is experiencing numerous technological advancements permitted with exceptional features for several industries especially in the banking sector. Cognitive systems with high-definition technology can help in determining the world’s most composite data analysis difficulties by entering into the complexity of exploiting the power of big data, machine learning, natural language processing, and automated reasoning technology.
Some advances in technology would further benefit the diffusion of big data, thereby booming the growth of the global cognitive systems spending market in the forecast period. Another factor which is driving the growth of the global cognitive systems spending market is the challenge that most banks and financial institutions are facing in the present scenario. Banks have too much data and too little insight. That usually comes from using traditional analytical systems, which focus on examining historical data from relational databases and reporting answers to user queries.
Cognitive analytics, in contrast, allows crunching a company’s big data as well as external information sources to forecast future events and behaviours as well as gives recommendations on the most rational behaviour in a given context. Cognitive systems allow conducting what-if analyses to predict the effect of potential changes in business strategies.
In terms of value, the banking segment was estimated to account for more than 20% value share by 2016 end and is expected to expand at a CAGR of 15.5% during the forecast period in North America. Banking segment is expected to witness comparatively high Y-o-Y growth rates ranging from 14.3% to 15.5% over 2016–2026.
In Latin America, the banking segment is lagging behind while healthcare and education sectors are ahead and expect to exhibit a higher CAGR during the forecast period. In Western Europe, the banking sector is the second largest segment in terms of value after the manufacturing segment, which is expected to exhibit a higher CAGR during the forecast period.
International Business Machines Corp (IBM) holds a market share in excess of 50% in the global cognitive systems spending market. The company is dominating the global market in banking along with hospital, manufacturing, and education cognitive systems. IBM Corporation aims to expand its presence in the Middle East and Africa having recently launched its offices in Kuwait, Saudi Arabia, Qatar, Angola, Nigeria, Kenya, Senegal, and Tanzania in order to strengthen its business in these regions.
International Business Machines Corp (IBM) holds a market share in excess of 50% in the global cognitive systems spending market. The company is dominating the global market in banking along with hospital, manufacturing, and education cognitive systems. IBM Corporation aims to expand its presence in the Middle East and Africa having recently launched its offices in Kuwait, Saudi Arabia, Qatar, Angola, Nigeria, Kenya, Senegal, and Tanzania in order to strengthen its business in these regions.
What are the future prospects of cognitive systems spending market?
Natural language processing technology is the most adaptable technology in the banking sector for cognitive systems due to its easy and advanced language conversation process therefore boosting the growth of the global cognitive systems spending market.
What are the major challenges for cognitive systems spending market?
Lack of compliance on the part of cognitive systems provider, as well as lack of user knowledge & awareness regarding cognitive systems, which is a major challenge for the cognitive systems spending market.
Which verticals will have significant revenue growth in the next five years?
The banking segment has been considered as largest revenue growth in the next five years due to the improvements in the variety, efficiency, and reliability of machine learning.
What are the major opportunities for cognitive systems spending market?
The recognition and widespread acceptance of consumer-based intelligent assistant applications, which is a major opportunities for the cognitive systems spending market
Which region is expected to be at forefront in the cognitive systems spending market?
The continuous development in cognitive computer technology for educational and healthcare applications such as enhancing the student’s learning experience, and evaluate information about the patient, among others, which is, in turn, boosting the growth of the cognitive systems spending market in North America.
Who are the major companies leading cognitive systems spending market?
Prominent companies in the Cognitive Systems Spending market includes International Business Machines Corporation, Accenture Plc., HP Inc., Microsoft Corp., Intel Corporation, Attivio, Wipro Limited, Cognitive Scale Inc., IPsoft Inc. and among others.
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The global cognitive systems spending market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.The global cognitive systems spending market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
Product Type:
Deployment Type:
Technology Type:
By Verticals:
By Region:
Demand for cognitive systems spending is likely to grow at a CAGR of 15% through 2032.
Sales of cognitive systems spending is likely to exceed a valuation of US$ 49222 million by 2032.
Adoption of cognitive systems spending is likely to reach a valuation of US$ 12167 million in 2022.
North America is the key cognitive systems spending market contributor.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Structure Analysis
3.1. Market Analysis by Tier of Companies
3.2. Market Concentration
3.3. Market Share Analysis of Top Players
3.4. Market Presence Analysis
3.4.1. Regional Footprint by Players
3.4.2. Product Footprint by Players
3.4.3. Channel Footprint by Players
4. Global Cognitive Systems Spending Demand (in Value or Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
4.1. Historical Market Value (US$ Mn) Analysis, 2015-2019
4.2. Current and Future Market Value (US$ Mn) Projections, 2020-2030
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Market Background
5.1. Macro-Economic Factors
5.1.1. Global GDP Growth Outlook
5.1.2. Global City Growth Outlook
5.1.3. Global ICT Spending Outlook
5.2. Forecast Factors - Relevance & Impact
5.3. Value Chain
5.4. Market Dynamics
5.4.1. Drivers
5.4.2. Restraints
5.4.3. Opportunity Analysis
6. Global Cognitive Systems Spending, Key Use Cases (Qualitative)
6.1. How Cognitive Systems Spending used in Healthcare Industry
6.2. Cognitive Systems Spending for Educational System
6.3. The Growing Cognitive Systems Spending for Accurate Data Analysis, and Improved Customer Interaction
6.4. Others
7. Global Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030, By Product Type
7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ Mn) Analysis By Product Type, 2015 - 2019
7.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Product Type, 2020 - 2030
7.3.1. Hardware
7.3.2. Software
7.3.3. Deployment Type
7.4. Market Attractiveness Analysis By Product Type
8. Global Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030, By Deployment Type
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) Analysis By Deployment Type, 2015 - 2019
8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Deployment Type, 2020 - 2030
8.3.1. Public
8.3.2. On-Premise
8.4. Market Attractiveness Analysis By Deployment Type
9. Global Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030, By Technology Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) Analysis By Technology Type, 2015 - 2019
9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Technology Type, 2020 - 2030
9.3.1. Natural Language Processing
9.3.2. Machine Learning
9.3.3. Automated Reasoning
9.4. Market Attractiveness Analysis By Technology Type
10. Global Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030, By Verticals
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) Analysis By Verticals, 2015 - 2019
10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Verticals, 2020 - 2030
10.3.1. Banking
10.3.2. Education
10.3.3. Government
10.3.4. Healthcare
10.3.5. Insurance
10.3.6. Manufacturing
10.3.7. Securities and Investment Services
10.3.8. Telecommunications
10.3.9. Transportation
10.3.10. Other Industries (Cross industries, Discrete manufacturing, Process manufacturing, Retail)
10.4. Market Attractiveness Analysis By Verticals
11. Global Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030, by Region
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Mn) Analysis By Region, 2015 - 2019
11.3. Current Market Size (US$ Mn) Analysis and Forecast By Region, 2020 - 2030
11.3.1. North America
11.3.2. Latin America
11.3.3. Europe
11.3.4. East Asia
11.3.5. South Asia & Pacific
11.3.6. Middle East and Africa (MEA)
11.4. Market Attractiveness Analysis By Region
12. North America Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030
12.1. Introduction / Key Findings
12.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2015 - 2019
12.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2020 - 2030
12.3.1. By Country
12.3.1.1. U.S.
12.3.1.2. Canada
12.3.2. By Product Type
12.3.3. By Deployment Type
12.3.4. By Technology Type
12.3.5. By Verticals
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Product Type
12.4.3. By Deployment Type
12.4.4. By Technology Type
12.4.5. By Verticals
12.5. Key Market Participants - Intensity Mapping
12.6. Drivers and Restraints - Impact Analysis
13. Latin America Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030
13.1. Introduction / Key Findings
13.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2015 - 2019
13.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2020 - 2030
13.3.1. By Country
13.3.1.1. Brazil
13.3.1.2. Mexico
13.3.1.3. Rest of Latin America
13.3.2. By Product Type
13.3.3. By Deployment Type
13.3.4. By Technology Type
13.3.5. By Verticals
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Product Type
13.4.3. By Deployment Type
13.4.4. By Technology Type
13.4.5. By Verticals
13.5. Key Market Participants - Intensity Mapping
13.6. Drivers and Restraints - Impact Analysis
14. Europe Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030
14.1. Introduction / Key Findings
14.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2015 - 2019
14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2020 - 2030
14.3.1. By Country
14.3.1.1. UK
14.3.1.2. France
14.3.1.3. Germany
14.3.1.4. Italy
14.3.1.5. Spain
14.3.1.6. BENELUX
14.3.1.7. Russia
14.3.2. By Product Type
14.3.3. By Deployment Type
14.3.4. By Technology Type
14.3.5. By Verticals
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Product Type
14.4.3. By Deployment Type
14.4.4. By Technology Type
14.4.5. By Verticals
14.5. Key Market Participants - Intensity Mapping
14.6. Drivers and Restraints - Impact Analysis
15. East Asia Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030
15.1. Introduction / Key Findings
15.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2015 - 2019
15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2020 - 2030
15.3.1. By Country
15.3.1.1. China
15.3.1.2. Japan
15.3.1.3. South Korea
15.3.2. By Product Type
15.3.3. By Deployment Type
15.3.4. By Technology Type
15.3.5. By Verticals
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Product Type
15.4.3. By Deployment Type
15.4.4. By Technology Type
15.4.5. By Verticals
15.5. Key Market Participants - Intensity Mapping
15.6. Drivers and Restraints - Impact Analysis
16. South Asia & Pacific Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030
16.1. Introduction / Key Findings
16.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2015 - 2019
16.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2020 - 2030
16.3.1. By Country
16.3.1.1. India
16.3.1.2. Thailand
16.3.1.3. Indonesia
16.3.1.4. Malaysia
16.3.1.5. Australia & New Zealand
16.3.2. By Product Type
16.3.3. By Deployment Type
16.3.4. By Technology Type
16.3.5. By Verticals
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Product Type
16.4.3. By Deployment Type
16.4.4. By Technology Type
16.4.5. By Verticals
16.5. Key Market Participants - Intensity Mapping
16.6. Drivers and Restraints - Impact Analysis
17. Middle East and Africa Cognitive Systems Spending Analysis 2015-2019 and Forecast 2020-2030
17.1. Introduction / Key Findings
17.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2015 - 2019
17.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2020 - 2030
17.3.1. By Country
17.3.1.1. GCC Countries
17.3.1.2. Turkey
17.3.1.3. South Africa
17.3.2. By Product Type
17.3.3. By Deployment Type
17.3.4. By Technology Type
17.3.5. By Verticals
17.4. Market Attractiveness Analysis
17.4.1. By Country
17.4.2. By Product Type
17.4.3. By Deployment Type
17.4.4. By Technology Type
17.4.5. By Verticals
17.5. Key Market Participants - Intensity Mapping
17.6. Drivers and Restraints - Impact Analysis
18. Key Country Analysis- Cognitive Systems Spending Analysis
18.1. U.S. Retail Market
18.1.1. By Product Type
18.1.2. By Deployment Type
18.1.3. By Technology Type
18.1.4. By Verticals
18.2. Canada Retail Market
18.2.1. By Product Type
18.2.2. By Deployment Type
18.2.3. By Technology Type
18.2.4. By Verticals
18.3. Brazil Retail Market
18.3.1. By Product Type
18.3.2. By Deployment Type
18.3.3. By Technology Type
18.3.4. By Verticals
18.4. Mexico Retail Market
18.4.1. By Product Type
18.4.2. By Deployment Type
18.4.3. By Technology Type
18.4.4. By Verticals
18.5. UK Retail Market
18.5.1. By Product Type
18.5.2. By Deployment Type
18.5.3. By Technology Type
18.5.4. By Verticals
18.6. Germany Retail Market
18.6.1. By Product Type
18.6.2. By Deployment Type
18.6.3. By Technology Type
18.6.4. By Verticals
18.7. France Retail Market
18.7.1. By Product Type
18.7.2. By Deployment Type
18.7.3. By Technology Type
18.7.4. By Verticals
18.8. Spain Retail Market
18.8.1. By Product Type
18.8.2. By Deployment Type
18.8.3. By Technology Type
18.8.4. By Verticals
18.9. Italy Retail Market
18.9.1. By Product Type
18.9.2. By Deployment Type
18.9.3. By Technology Type
18.9.4. By Verticals
18.10. BENELUX Retail Market
18.10.1. By Product Type
18.10.2. By Deployment Type
18.10.3. By Technology Type
18.10.4. By Verticals
18.11. Russia Retail Market
18.11.1. By Product Type
18.11.2. By Deployment Type
18.11.3. By Technology Type
18.11.4. By Verticals
18.12. China Retail Market
18.12.1. By Product Type
18.12.2. By Deployment Type
18.12.3. By Technology Type
18.12.4. By Verticals
18.13. Japan Retail Market
18.13.1. By Product Type
18.13.2. By Deployment Type
18.13.3. By Technology Type
18.13.4. By Verticals
18.14. South Korea Retail Market
18.14.1. By Product Type
18.14.2. By Deployment Type
18.14.3. By Technology Type
18.14.4. By Verticals
18.15. India Retail Market
18.15.1. By Product Type
18.15.2. By Deployment Type
18.15.3. By Technology Type
18.15.4. By Verticals
18.16. Thailand Retail Market
18.16.1. By Product Type
18.16.2. By Deployment Type
18.16.3. By Technology Type
18.16.4. By Verticals
18.17. Indonesia Retail Market
18.17.1. By Product Type
18.17.2. By Deployment Type
18.17.3. By Technology Type
18.17.4. By Verticals
18.18. Malaysia Retail Market
18.18.1. By Product Type
18.18.2. By Deployment Type
18.18.3. By Technology Type
18.18.4. By Verticals
18.19. Australia & New Zealand Retail Market
18.19.1. By Product Type
18.19.2. By Deployment Type
18.19.3. By Technology Type
18.19.4. By Verticals
18.20. GCC Countries Retail Market
18.20.1. By Product Type
18.20.2. By Deployment Type
18.20.3. By Technology Type
18.20.4. By Verticals
18.21. Turkey Retail Market
18.21.1. By Product Type
18.21.2. By Deployment Type
18.21.3. By Technology Type
18.21.4. By Verticals
18.22. South Africa Retail Market
18.22.1. By Product Type
18.22.2. By Deployment Type
18.22.3. By Technology Type
18.22.4. By Verticals
19. Competition Analysis
19.1. Competition Dashboard
19.2. Pricing Analysis, by Competition
19.3. Competition Deep Dive
19.3.1. International Business Machines Corporation.
19.3.1.1. Overview
19.3.1.2. Product/Service Portfolio
19.3.1.3. Profitability by Market Segments (Product/Channel/Region)
19.3.1.4. Sales Footprint
19.3.1.5. Strategy Overview
19.3.1.5.1. Marketing Strategy
19.3.1.5.2. Product Strategy
19.3.1.5.3. Channel Strategy
19.3.2. Accenture Plc.
19.3.2.1. Overview
19.3.2.2. Product/Service Portfolio
19.3.2.3. Profitability by Market Segments (Product/Channel/Region)
19.3.2.4. Sales Footprint
19.3.2.5. Strategy Overview
19.3.2.5.1. Marketing Strategy
19.3.2.5.2. Product Strategy
19.3.2.5.3. Channel Strategy
19.3.3. Microsoft Corporation
19.3.3.1. Overview
19.3.3.2. Product/Service Portfolio
19.3.3.3. Profitability by Market Segments (Product/Channel/Region)
19.3.3.4. Sales Footprint
19.3.3.5. Strategy Overview
19.3.3.5.1. Marketing Strategy
19.3.3.5.2. Product Strategy
19.3.3.5.3. Channel Strategy
19.3.4. HP Inc.
19.3.4.1. Overview
19.3.4.2. Product/Service Portfolio
19.3.4.3. Profitability by Market Segments (Product/Channel/Region)
19.3.4.4. Sales Footprint
19.3.4.5. Strategy Overview
19.3.4.5.1. Marketing Strategy
19.3.4.5.2. Product Strategy
19.3.4.5.3. Channel Strategy
19.3.5. Intel Corporation
19.3.5.1. Overview
19.3.5.2. Product/Service Portfolio
19.3.5.3. Profitability by Market Segments (Product/Channel/Region)
19.3.5.4. Sales Footprint
19.3.5.5. Strategy Overview
19.3.5.5.1. Marketing Strategy
19.3.5.5.2. Product Strategy
19.3.5.5.3. Channel Strategy
19.3.6. Attivio
19.3.6.1. Overview
19.3.6.2. Product/Service Portfolio
19.3.6.3. Profitability by Market Segments (Product/Channel/Region)
19.3.6.4. Sales Footprint
19.3.6.5. Strategy Overview
19.3.6.5.1. Marketing Strategy
19.3.6.5.2. Product Strategy
19.3.6.5.3. Channel Strategy
19.3.7. Wipro Limited
19.3.7.1. Overview
19.3.7.2. Product/Service Portfolio
19.3.7.3. Profitability by Market Segments (Product/Channel/Region)
19.3.7.4. Sales Footprint
19.3.7.5. Strategy Overview
19.3.7.5.1. Marketing Strategy
19.3.7.5.2. Product Strategy
19.3.7.5.3. Channel Strategy
19.3.8. Cognitive Scale Inc.
19.3.8.1. Overview
19.3.8.2. Product/Service Portfolio
19.3.8.3. Profitability by Market Segments (Product/Channel/Region)
19.3.8.4. Sales Footprint
19.3.8.5. Strategy Overview
19.3.8.5.1. Marketing Strategy
19.3.8.5.2. Product Strategy
19.3.8.5.3. Channel Strategy
19.3.9. IPsoft Inc.
19.3.9.1. Overview
19.3.9.2. Product/Service Portfolio
19.3.9.3. Profitability by Market Segments (Product/Channel/Region)
19.3.9.4. Sales Footprint
19.3.9.5. Strategy Overview
19.3.9.5.1. Marketing Strategy
19.3.9.5.2. Product Strategy
19.3.9.5.3. Channel Strategy
20. Assumptions and Acronyms Used
21. Research Methodology
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