Global Cognitive Operations Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2029. Cognitive Operations uses artificial intelligence to perform mental operations. It includes interpretation, transformation, manipulation, storage, etc. Cognitive operations enable to maintenance, analysis, monitor large and complex data with ease. The Cognitive Operations market is expanding because of factors such as the rising adoption of cloud-based cognitive IT operations solutions and the growing demand for monitoring the computer IT Environment in the forecast period.

According to Statista in 2022, the cloud computing market generates revenue of around USD 400 billion in 2021. And it is expected to increase rapidly globally. It includes the adoption of IT services, use of networks of remote services, accessed over the internet. Whereas rising demand from end-user industries and growing R&D activities by market players create lucrative opportunities for the market. However, a lack of skilled professionals and expertise hampers the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Cognitive Operations Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the increasing demand from end-use industries, and the growing adoption of cognitive operation solutions across banking, telecommunication, financial services, and so on. Whereas the Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as increasing penetration of market players, growing R&D activities, and investment towards digitalization

Major market players included in this report are:

Broadcom Inc.

IBM Corporation

VMware, Inc.

Micro Focus International Plc

Splunk Inc.

HCL Technologies Limited

BMC Software, Inc.

New Relic, Inc.

CloudFabrix Software Inc.

Servicenow Inc.

Recent Developments in the Market:

In December 2021, TCS launched TCS Cognix, a ready-made solution ecosystem that accelerates digital transformation and is powered by the Machine First Delivery Model (MFDM). It orchestrates the digital technology ecosystem logically, innovatively, and modularly and contextualizes solutions using domain knowledge. TCS Cognix assists in the realization of a configurable enterprise, allowing organizations to gain a competitive advantage through cognitive operations.
In November 2021, Beyond Limits, a company that develops industrial and enterprise-grade AI software, announced the general availability of its new Luminai Refinery Advisor, which was created in collaboration with bp. Beyond Limits' Cognitive AI software is used in this cloud-based offering to better adhere to commercial operating plans, capture and operationalize expert knowledge, reduce production material costs, maximize operational efficiencies, accelerate time to market, and reduce waste in various sectors.
Global Cognitive Operations Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Component, Deployment Mode, Enterprise Size, Application, Industry Vertical, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

Solutions,

Services

By Deployment Mode:

Cloud

On Premises

By Enterprise Size:

Large Enterprises,

Small Sized Enterprises

Medium-Sized Enterprises

By Application:

IT Operations Analytics,

Application Performance Management,

Network Analytics,

Security Analytics,

Infrastructure Management

By Industry Vertical:

BFSI,

Healthcare & Life Sciences,

IT & Telecom,

Retail & E-commerce

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World