The cognitive operations market has seen considerable growth due to a variety of factors.
• The market size for cognitive operations has seen a substantial expansion in the past few years. It is projected to increase from $13.17 billion in 2024 to $16.25 billion in 2025, boasting a compound annual growth rate (CAGR) of 23.4%.
The historic growth pattern is due to a surge in cyber threats, heightened occurrences of cyberattacks, complication in incident responses, advanced malware sophistication, and global connectivity.
The cognitive operations market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the expansion of the cognitive operations market in the next couple of years. Predictions indicate growth to $34.65 billion by 2029, with a significant compound annual growth rate (CAGR) of 20.8%.
Factors contributing to this projected growth include an upsurge in the use of IoT, rising cloud security requirements, the advancement of zero trust security models, an evolving threat landscape, and the emergence of advanced persistent threats. The horizon of the forecast period also reveals key trends such as greater integration of cloud security, AI-powered threat intelligence, consistent adaptive risk and trust evaluations, the development of privacy-preserving technologies, and enhanced cooperation in threat intelligence sharing.
The cognitive operations market is poised for growth due to an accelerating trend of digital transformation. Digital transformation is the planned incorporation and refinement of digital technologies, data-centric procedures, and pioneering business models, which improves operational proficiency, customer interaction, and overall competitiveness in an organization. This transformation augments cognitive operations as it utilizes progressive technologies like artificial intelligence and machine learning to automate mundane tasks, evaluate extensive data for insightful decision-making, and promote cognitive processes, resulting in more adaptable, effective, and intelligent business operations. As per Eurostat, a statistical office based in Luxembourg for the European Union, 70% of all EU businesses attained a rudimentary transition into digital intensification in 2022, with small and mid-sized firms (SMEs) at 69%, about 20 percentage points below the EU's target for 2030, while large businesses attained 98%. Thus, the accelerated pace of digital transformation is aiding the growth of the cognitive operations market.
The cognitive operations market covered in this report is segmented –
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
Subsegments:
1) By Solutions: Cognitive Analytics Tools, Machine Learning Solutions, Natural Language Processing (NLP) Solutions, Robotic Process Automation (RPA), Decision Management Systems
2) By Services: Consulting Services, Implementation And Integration Services, Managed Services, Training And Support Services
Prominent entities in the cognitive operations market are attempting to gain an upper hand by creating innovative products, such as cognitive AI platforms. A cognitive AI platform is a high-level technology that combines machine learning, natural language processing and pattern recognition capabilities to mimic human-like intelligence and decision-making processes. As an example, in November 2023, the U.S. public relations firm, Burson Cohn & Wolfe, introduced the Decipher Index. This innovative platform takes advantage of cognitive artificial intelligence (AI) to forecast future top global macro trends. Created in partnership with Limbik, a cognitive AI firm based in the US, the Decipher Index detects more than 20 macro themes and issues projected to steer global interest in the consequent 12 months. It offers valuable insights for businesses and organizations to preemptively address potential crises or exploit burgeoning opportunities. The platform's cognitive AI constantly scrutinizes data, providing weekly updates and regional standings in areas like elections, artificial intelligence, sustainability, and cultural issues. The ultimate aim is to equip leaders with real-time data for making strategic decisions in a rapidly evolving landscape.
Major companies operating in the cognitive operations market report are:
• 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 SoftwareInc.
• 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.
North America was the largest region in the cognitive operations market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive operations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.