What Fueled The Previous Growth In The Cognitive Cloud Computing Market?
The cognitive cloud computing market has seen considerable growth due to a variety of factors.
• The cognitive cloud computing market has grown exponentially in recent years. It will rise from $42.36 billion in 2024 to $55.96 billion in 2025, with a CAGR of 32.1%.
The growth is fueled by the adoption of cloud computing services, increased demand for data analytics, the expansion of hybrid and multi-cloud strategies, and the rise of Internet of Things (IoT) devices.
What Can Be Expected from the Cognitive Cloud Computing Market Size?
The cognitive cloud computing market is expected to maintain its strong growth trajectory in upcoming years.
• The cognitive cloud computing market is expected to grow exponentially, reaching $168.61 billion by 2029, at a CAGR of 31.8%.
This growth is fueled by AI/ML adoption, demand for advanced cloud solutions, IoT device proliferation, personalized experiences, and cost-efficient IT solutions. Trends include hybrid/multicloud strategies, AI integration, edge computing, and regulatory requirements.
What Are the Critical Driver Fuelling The Cognitive Cloud Computing Market's Growth?
The growing amount of raw data is expected to accelerate the cognitive cloud computing market. Raw data, which is unprocessed and unorganized information, is increasing due to the widespread use of digital devices, the growth of online activity, the expansion of IoT devices, and the increasing digitization across industries. Cognitive cloud computing uses advanced AI algorithms to manage and analyze large data sets, enabling faster decision-making through automated learning and flexible features. For example, a report from the Linux Foundation stated that organizations with up to 20 petabytes of storage saw annual data growth of 566 TB in 2021 and 1,746 TB in 2022. In organizations with up to 25 petabytes of storage, data growth reached 2,208 TB in 2022, showing the rapid expansion of data and the increasing need for cognitive cloud computing.
How Is The Cognitive Cloud Computing Market segmented?
The cognitive cloud computing market covered in this report is segmented –
1) By Type: On-Premises Software, Cloud-Based Services
2) By Technology: Natural Language Processing, Machine Learning, Automated Reasoning, Other Technologies
3) By Application: Healthcare, Banking, Financial Services, And Insurance (BFSI), Retail, Government, Information Technology (IT) And Telecommunication, Security, Other Applications
4) By End-User: Large Enterprises, Small And Medium Businesses (SMEs)
Subsegments:
1) By On-Premises Software: Ai-Powered Data Analytics Tools, Natural Language Processing (Nlp) Solutions, Machine Learning Platforms, Cognitive Automation Software, Ai-Driven Business Intelligence Software, On-Premises Cognitive Analytics Tools
2) By Cloud-Based Services: Ai As A Service (Aiaas), Machine Learning As A Service (Mlaas), Natural Language Processing As A Service (Nlpaas), Cognitive Computing Platforms, Data Analytics And Visualization Services, Cloud-Based Ai Models And Frameworks, Cognitive Cloud Integration Services
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What New Trends Are Influencing The Cognitive Cloud Computing Market?
Companies in the cognitive cloud computing market are innovating with platforms that combine AI and cognitive computing for better solutions. In March 2024, Mphasis, an India-based IT company, launched DeepInsights Doc AI, a generative AI platform designed to enhance document processing by extracting context-specific information and integrating it with downstream IT systems.
Who Are the Key Players In The Cognitive Cloud Computing Market?
Major companies operating in the cognitive cloud computing market are:
• Alphabet Inc.
• Microsoft Corporation
• Alibaba Group Holding Limited
• Dell Inc.
• Amazon Web Services
• Accenture plc
• International Business Machines Corporation
• Deloitte Touche Tohmatsu Limited
• Cisco Systems Inc.
• PricewaterhouseCoopers International Limited
• Oracle Corporation
• SAP SE
• NVIDIA Corporation
• Hewlett Packard Enterprise Company
• Tata Consultancy Services Limited
• Salesforce.com Inc.
• Capgemini SE
• Cognizant Technology Solutions Corporation
• Infosys Limited
• Adobe Inc.
• VMware Inc.
• HCL Technologies Limited
• Wipro Limited
• Red Hat Inc.
• BMC Software Inc.
• Mphasis Limited
What Is The Most Dominant Region In The Cognitive Cloud Computing Market?
North America was the largest region in the cognitive cloud computing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive cloud computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
