DUBLIN--(BUSINESS WIRE)--The "Cognitive Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global cognitive systems market reached a value of US$ 4 Million in 2017. The market is expected to reach a value of US$11 Million by 2023, exhibiting a CAGR of 17.8% during 2018-2023.
The major driver of the market is the continuous growth in digital banking trends. Cognitive systems help in speeding up the operations in banking and financial institutes so that they can meet the increasing demands of their customers and rising competition. Growing demand for predictive analytics is further spurring the growth of the market. This technique gives a chance to customize the program for groups or individual customers according to their demands and helps in improving the cost-effectiveness of the production process. Moreover, the need to manage large volumes of unstructured data among different sectors such as retail, healthcare and finance has propelled the growth aspects for data analytics in cognitive systems.
The report has segmented the market on the basis of product type into software, services and hardware. Currently, software accounts for the majority of the total market share.
The market is further segregated on the basis of end-use. Banking sector dominates the market followed by the retail and healthcare sectors.
Region-wise, the report covers North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. Amongst these, North America represents the leading market, accounting for the majority of the global share.
The report has also analysed the competitive landscape of the market with some of the key global players being IBM, Infosys, HP Inc., Microsoft Corporation and SAP SE.
Key Topics Covered
2 Scope and Methodology
3 Executive Summary
5 Global Cognitive Systems Market
6 Market Breakup by Product Type
7 Market Breakup by End-Use Sector
8 Market Breakup by Region
9 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/qnpf24/11_million?w=4