Cognitive Operations Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, July 12, 2024 /EINPresswire.com/ -- The cognitive operations market has experienced robust growth in recent years, expanding from $10.67 billion in 2023 to $13.17 billion in 2024 at a compound annual growth rate (CAGR) of 23.4%. The growth in the historic period can be attributed to increasing cyber threats, rising incidents of cyberattacks, incident response challenges, growing sophistication of malware, global connectivity.

Strong Future Growth Anticipated
The cognitive operations market is projected to continue its strong growth, reaching $28.64 billion in 2028 at a compound annual growth rate (CAGR) of 21.4%. The growth in the forecast period can be attributed to increasing adoption of iot, cloud security requirements, zero trust security models, evolving threat landscape, advanced persistent threats .

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Growth Driver Of The Cognitive Operations Market
The surge in digital transformation is expected to propel the growth of cognitive operations market going forward. Digital transformation refers to the strategic integration and optimization of digital technologies, data-driven processes and innovative business models to enhance operational efficiency, customer experiences and overall competitiveness within an organization. Digital transformation enhances cognitive operations by leveraging advanced technologies, such as artificial intelligence and machine learning, to automate routine tasks, analyze vast amounts of data for informed decision-making, and empower cognitive processes that lead to more adaptive, efficient, and intelligent business operations.

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Major Players And Market Trends
Key players in the cognitive operations market include 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..

Major companies operating in the cognitive operations market are developing new products, such as cognitive AI platforms, to gain a competitive edge in the market. A cognitive AI platform refers to an advanced technological system that integrates cognitive computing capabilities, such as machine learning, natural language processing and pattern recognition, to simulate human-like intelligence and decision-making processes.

Segments:
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

Geographical Insights: North America Leading The Market
North America was the largest region in the cognitive operations market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of cognitive operations.

Cognitive Operations Market Definition
Cognitive operations refer to processes and decisions within an organization that leverage cognitive capabilities, enabling them to sense, respond, and learn. Cognitive operations involve the way individuals acquire, process, store, and use information.

The main components of cognitive operations are solutions and services. Solutions typically denote software applications or technological tools designed to address specific challenges or meet particular needs within various domains, they have various organization sizes such as large enterprises, and small and medium-sized enterprises (SMEs), it include modes of deployments that are cloud and on-premises, it uses for applications include information technology operations analytics, application performance management, infrastructure management, network analytics, security analytics, and others, and it used in various industries such as bfsi (banking, financial services, and insurance), healthcare and life science, it and telecom, retail and e-commerce, manufacturing, government, media and entertainment, and other verticals.

Cognitive Operations Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Cognitive Operations Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cognitive operations market size, cognitive operations market drivers and trends, cognitive operations market major players, cognitive operations competitors' revenues, cognitive operations market positioning, and cognitive operations market growth across geographies. The cognitive operations market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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