Overview and Scope
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.
Sizing and Forecast
The cognitive operations market size has grown exponentially in recent years. It will grow 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..
The cognitive operations market size is expected to see exponential growth in the next few years. It will grow to $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 .. Major trends in the forecast period include increased integration with cloud security, ai-driven threat intelligence, continuous adaptive risk and trust assessment , privacy-preserving technologies, collaborative threat intelligence sharing..
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Segmentation & Regional Insights
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
North America was the largest region in the cognitive operations market in 2023. 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.
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Major Driver Impacting Market Growth
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. For instance, in December 2021, according to The Robot Report by WTWH Media LLC, a US-based media company, China unveiled a comprehensive five-year digital transformation plan led by the Ministry of Industry and Information Technology. By 2025, more than 70 percent of large-scale Chinese enterprises were expected to be digitalized, accompanied by the construction of over 500 demonstration manufacturing facilities nationwide. Therefore, the surge in digital transformation is driving the growth of the cognitive operations market.
Key Industry Players
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 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.
The cognitive operations market report table of contents includes:
1. Executive Summary
2. Cognitive Operations Market Characteristics
3. Cognitive Operations Market Trends And Strategies
4. Cognitive Operations Market – Macro Economic Scenario
5. Global Cognitive Operations Market Size and Growth
…..
32. Global Cognitive Operations Market Competitive Benchmarking
33. Global Cognitive Operations Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cognitive Operations Market
35. Cognitive Operations Market Future Outlook and Potential Analysis
36. Appendix
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