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Cognitive Operations Market Is Expected to Grow at a CAGR of 27% by 2026

Market Insights Reports delivers key insights on the Cognitive Operations market in its latest report titled, “Cognitive Operations Market – Growth, Trends, COVID-19 Impact, And Forecasts (2021 – 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Cognitive Operations Market is expected to grow at a CAGR of 27% over the forecast period 2021 to 2026.

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Top Key Players in the Global Cognitive Operations Market: IBM, Broadcom, Micro Focus, VMware, Splunk, BMC Software, HCL Technologies, New Relic, Servicenow, Cloudfabrix, Loom Systems, Dynatrace, Devo, Logz.Io, Corvil, Nokia, Interlink Software Services, Correlata, Science Logic, Sumo Logic, Risc Networks, Bay Dynamics, Appdynamics, Zenoss and Others.

Industry News:

– March 2020 – Nokia announced the launch of a complete AI as a service offering: Nokia AVA 5G Cognitive Operations. Nokia AVA 5G Cognitive Operations is a complete AI as a service offering, combining data science, machine learning as well as telco, and cloud expertise to bring AI to life. It anticipates network and service failures with a high level of precision and accuracy up to seven days in advance. If failures arise, Nokia 5G Cognitive Operations can solve them up to 50 percent faster and accurately assess the impact on customers and services.

Market Overview:

The market’s primary growth determinants include the increasing demand to monitor the complex IT environment and a growing focus on the enactment of cloud-based cognitive IT operations solutions. For instance, according to SAS Institute Inc., in 2018, the worldwide revenue from business operation analytics software amounted to 60.66 billion U.S. dollars as against 54.02 billion in 2017.

– Security analytics applications are expected to register the fastest growth rate during the forecast period. Security analytics applications enable organizations to identify emerging security threats with the help of evidence-based knowledge. The demand for these applications will grow among enterprises to respond to emerging threats quickly.

– According to Microsoft Corporation, the number of internet-connected devices is estimated to be 75 billion by 2025. As the world moves closer to an Internet of Everything, the amount and variety of digital assets stored, processed and shared by enterprises rise. Even established sectors such as manufacturing exact almost 50% of the products they develop to be smart or connected in some way by 2020, consequently opening up new revenue streams in data-driven services such as Cognitive Operations.

– The expectations of the organizations from embracing automation are moving towards getting value at a higher speed. Hence, with the growing automation across the businesses, cognitive service providers are gaining adhesion for developing more APIs to built smarter applications that helps in aligning the core works with business objectives.

– However, a lack of skilled professionals may hamper the growth of the market in the future. On the other hand, a substantial market opportunity lies ahead for the players majorly due to the growing demand for reducing operational costs and enhancing customer experience among various user industries.

Top Line Market Forecast:

Both Regional and Global sectors are included in the Outlook, with special breakouts for the NAM, European, MENA, and Asia-Pacific regions. The data covered is from 2015 to 2019 historically and from 2020 to 2026 forecasted, it also includes the impact of Covid-19 both on the short- and long-term prospects of the industry.

Browse Complete Report details with Table of Content:

https://www.marketinsightsreports.com/reports/02082593369/cognitive-operations-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?mode=28             

Asia-Pacific is Expected to Witness Significant Growth

– The Asia-pacific region is expected to witness the fastest growth in demand during the forecast period. Significant growth factors for the market in APAC include the rising complexities in IT environment, increasing adoption of cognitive operations solutions in the Telecommunication, Banking, Financial Services, and Insurance (BFSI) vertical for optimizing the IT operations processes, and an increasing demand to deliver an improved customer experience across all the principal industry verticals.

– Besides, the telecom sector, which has a higher market share in the Cognitive Operations Market, is booming in the APAC region. For instance, according to S&P Global, in 2019, the number of mobile subscriptions in China rose to 1600 million as against 1230 million in India and 332.5 million in Indonesia.

– The region of Asia-Pacific is projected to be the fastest-growing region for the data governance, data management, data analytics, owing to the increasing technology expenditures in economies, such as India, China, Singapore, and Australia. The need for cost-effective data management and governance solutions and services among small- and medium-sized enterprises (SMEs) further motivates the need for the Cognitive Operations Market in the region.

– Initiatives taken by the region regarding smart manufacturing and digitization are anticipated to be a important driver for the region’s market. Also, owing to fast economic developments, digitalization, foreign direct investments, globalization, and enhanced adoption of high-end technologies across important APAC countries, the market is supposed to see a increase in demand.

This Cognitive Operations Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2026

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format

– 3 months of analyst support     

Customization of this Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

Please contact our sales professional (sales@marketinsightsreports.com), we will ensure you obtain the report which works for your needs.

Post Covid-19 Analysis:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.

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