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Cognitive Cloud Computing Market Report

RA02800

Cognitive Cloud Computing Market, by Technology (Natural Language Processing, Machine Learning, Automated Reasoning, Others), Enterprise Size (Large Enterprises, Small and Medium Enterprises), Industry Vertical (Healthcare, BFSI, Retail, Government, IT & Telecom, Energy & Power, Others), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

RA02800

Pages: 240

Nov 2020

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Cognitive Cloud Computing Market

According to a new study by Research Dive, the global cognitive cloud computing market will reach $108,788.7 million by 2027, at a CAGR of 31.3%, increasing from $11,530.0 million in 2019. North America region registered for highest global market share in the past decades and is projected to retain its steady rise during the estimated timeframe. Asia-Pacific cognitive cloud computing market is expected to rise at a notable rate during the forecast time.

COVID-19 Impact on Cognitive Cloud Computing Market:

The coronavirus pandemic has had a desirable impact on the global cognitive cloud computing market size in 2020. This growth is expected to be due to rising importance of natural language processing (NLP) technique in the healthcare and pharmaceutical organizations to support healthcare professionals and scientists during the pandemic. This NLP technique is the most advanced approach to better patient monitoring and patient care. Also, NLP technique is an automated process and allows clinicians to more efficiently manage and monitor patient population by finding virus related symptoms in real time. This aspect has augmented the demand for NLP and is directly impacting the cognitive cloud computing method demand in healthcare systems. These factors are predicted to impact the global cognitive cloud computing market growth in a desirable direction.

Cognitive Cloud Computing Market Analysis:

Gradual shift of businesses towards modernizing their processes is a major driving factor for the growth of the cognitive cloud computing market

Cognitive cloud computing is utilization of computerized techniques that use scientific disciplines of signal processing and artificial intelligence to help the humans in critical situations where the results may be uncertain and ambiguous. It can synthesize information or data from several sources such as data mining, natural language processing and patter recognition to suggest the most appropriate approaches for business operations. Due these benefits, increasing adoption of cognitive cloud computing models by various industry verticals such as BFSI, healthcare, retail and others to revolutionize their business operations is expected to drive the market growth in the forecast years. Moreover, growing utilization of artificial intelligence tools in cognitive cloud computing models is also estimated to propel the market growth in the forecast years. For example, in healthcare sector, cognitive computing with AI technologies is being used in oncology sector to find the most suitable procedure for drug development, based on patient needs. Furthermore, rising implementation of cognitive cloud computing model in OTT sector for delivering high quality video-based content with low latency in the form of movies and web series is also estimated propel the market growth in the analysis time.

To know more about cognitive cloud computing market drivers, get in touch with our analysts here.

High implementation cost is restraining the growth of cognitive cloud computing market

High implementation cost of the cognitive cloud computing platforms is restricting the adoption in the small and medium size enterprises, which is predicted to limit the growth of the market in the forecast years. Also, the leading players are still facing difficulties with the development of software platforms which is further expected to hamper the growth of the market in the prediction period.

Increasing adoption of emerging technologies may create major investment opportunities for the growth of the cognitive cloud computing market

Emergence of innovative tools and interaction platforms in the cognitive cloud computing models is predicted to create lucrative opportunities for the market growth in the coming years. For instance, chatbot is a humanoid robot which utilizes ML, AI and NLP technologies to imitate human conversation and activities to provide faster services in a short time with more accuracy. Currently, rising deploying of chatbots incorporation with cognitive computing technologies in the healthcare sector to fight against COVID-19 by tracking and monitoring patients is further estimated to upsurge the market growth in the upcoming time.

To know more about cognitive cloud computing market opportunities, get in touch with our analysts here.

Cognitive Cloud Computing Market, by Technology:

Natural language processing technology is expected to grow at a 32.2% CAGR in the estimated time

Cognitive Cloud Computing Market, by Technology	 

Source: Research Dive Analysis

In 2019, natural language processing technology sub-segment accounted for evident cognitive cloud computing market share and is estimated to continue its constant rise over the global market throughout the forecast years. This command over the global market is majorly owing to wide utilization of NLP with cognitive computing technologies in almost all sizes of industry verticals because this enables the computers to communicate with humans in real time. Currently, machines and computers can analyze and identify more language-based information and data than humans without exhaustion and in a consistent way. Also, NLP with cognitive computing technologies have various capabilities such as content categorization, topic modeling & discovery, content extraction, text-to-speech & speech-to-text and many other capabilities to offer advanced algorithms to meet organizational requirements. These factors are estimated to fuel the market growth in the estimated period.

Cognitive Cloud Computing Market, by Enterprise Size:

Large enterprise sub-segment held the global market size in 2019

Cognitive Cloud Computing Market, by Enterprise Size

Source: Research Dive Analysis

In the previous years, the cognitive cloud computing market size for large enterprises accounted for $8,069.0 million and is estimated to produce a revenue of $73,711.1 million till the end of 2027. This growth is significantly due to extensive usage of cognitive computing techniques in the large enterprises because it supports employees when they are dealing with complex decision making. Besides large enterprises, the SMEs size sub-segment is expected to witness a noteworthy growth and is anticipated to account for $35,077.7 million revenue by 2027. Increasing adoption of cognitive cloud computing services by SMEs to transform into modern enterprises for faster growth in a digital economy is estimated to propel the market growth in the estimated timeframe

Cognitive Cloud Computing Market, by Industry Vertical:

Healthcare industry vertical will grow at a CAGR of 32.5% in the projected years

 Cognitive Cloud Computing Market, by Industry Vertical

Source: Research Dive Analysis

In 2019, healthcare sub-segment was the significant contributor of cognitive cloud computing market and is predicted to retain its dominance over the global marketplace throughout the forecast years. This dominance is majorly attributed to wide utilization of cognitive computing technologies in the healthcare sector to assist healthcare professionals in better and improved treatment of diseases. In the previous decades, BFSI sub-segment occupied second position in the global market and is predicted to account for a revenue of $19,486.4 million till the end of 2027. Increasing implementation of cognitive cloud computing technologies in banks and financial institutions to provide better security systems as well as to identify financial frauds with more robust abilities is anticipated to upsurge the market growth in the review period.

Global Cognitive Cloud Computing Market, by Region:

North America region will have enormous growth opportunities for the market applicants in the coming years

In the past years, the North America dominated the global cognitive cloud computing market size; it was about $3,849.9 million and is anticipated to continue its constant growth in the global industry during the prediction period. The command over the global market is mainly accredited to presence of technically progressive economies such as Canada and U.S., U.S. being the major revolution hub for the most of upcoming technologies. These factors are inspiring most organizations to adopt new technologies to modernize and revolutionize their business activities; this is predicted to propel the market growth in the North America region. Europe region accounted for second position in the global market in terms of revenue and is predicted to generate a revenue of $34,268.4 million by the end of 2027. This growth is majorly due to rising usage of cognitive cloud computing solutions by the organizations to analyze organizational data to provide innovative solutions.  

To explore more about cognitive cloud computing market, get in touch with our analysts here.

Key Participants in the Global Cognitive Cloud Computing Market:

Product launches and R&D investments are some common strategies followed by the key players

Key Participants in the Global Cognitive Cloud Computing Market

Source: Research Dive Analysis

The significant cognitive cloud computing market players are Nuance Communications, Inc., SparkCognition, Numenta, Cisco, Microsoft, SAP, CognitiveScale, Hewlett Packard Enterprise Development LP, EXPERT.AI and IBM. These significant players are adopting various strategies including collaborations & partnerships, acquisitions and business expansions to gain a high competitive edge in the global cognitive cloud computing industry.

Porter’s Five Forces Analysis for Cognitive Cloud Computing Market:

  • Bargaining Power of Suppliers: This market has larger number of small & medium and large size suppliers and increasing demand for cognitive computing services is delivering high changing cost between providers. The bargaining power of suppliers is HIGH.

  • Bargaining Power of Consumers: This market contains huge number of customers. Rising demand for cognitive cloud computing services owing to unavailability of suitable substitutes along with significant players delivers advanced quality and maintenance services. The bargaining power of the consumer is MODERATE.
  • Threat of New Entrants: Growing demand for cognitive cloud computing services, existence of leading participants in the global market along with high development cost are required for cloud computing techniques are resulting in a high risk for new entrants into the market. The threat of new entrants is HIGH.
  • Threat of Substitutes: This market has a smaller number of replacements, and prominent players are providing advanced technologies is resulting minimal risk of replacements. The threat of substitutes is LOW.
  • Competitive Rivalry in the Market: Cognitive cloud computing market has high number of prominent players. These significant participants are concentrating on product improvements and new technological overviews to strengthen their presence in the overall marketplace. This aspect is resulting high intensity of rivalry between the industry players. The competitiveness between the players is HIGH.

 

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2019

  Forecast timeline for Market Projection

  2020-2027

  Geographical Scope

North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Technology

  • Natural Language Processing
  • Machine Learning
  • Automated Reasoning
  • Others

Segmentation by Enterprise Size

 

  • Large Enterprises
  • Small and Medium Enterprises

  Segmentation by Industry Vertical

 

  • Healthcare
  • BFSI
  • Retail
  • Government
  • IT & Telecom
  • Energy & Power
  • Others

  Key Countries covered

U.S., Canada, Germany, UK, Italy, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, Argentina, GCC and Saudi Arabia

  Key Companies Profiled

  • Nuance Communications, Inc.
  • SparkCognition
  • Numenta
  • Cisco
  • Microsoft
  • SAP
  • CognitiveScale
  • Hewlett Packard Enterprise Development LP
  • EXPERT.AI
  • IBM

Frequently Asked Questions
 

A. The global cognitive cloud computing market size was over $11,530.0 million in 2019 and is further anticipated to reach $108,788.7 million by 2027.

A. Cisco, Microsoft, CognitiveScale, EXPERT.AI and IBM are some of the key players in the global cognitive cloud computing market.

A. Asia-Pacific region possesses great investment opportunities for the investors to witness the most promising growth in the coming years.

A. North America cognitive cloud computing market accounted for $3,849.9 million in 2019.

A. Product development and joint ventures are the key strategies opted by the operating companies in this market.

A. Cisco, Microsoft, EXPERT.AI and IBM are investing more on R&D activities for developing new products and technologies.

1. Research Methodology

1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters

1.4.1. Assumptions
1.4.2. Forecast parameters

1.5. Data sources

1.5.1. Primary
1.5.2. Secondary

2. Executive Summary

2.1. 360° summary
2.2. Technology trends
2.3. Enterprise size trends
2.4. Industry vertical trends

3. Market overview

3.1. Market segmentation & definitions
3.2. Key takeaways

3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. Porter’s five forces analysis

3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market

3.4. Market dynamics

3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities

3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Pricing overview

3.8.1. By technology
3.8.2. By enterprise size
3.8.3. By industry vertical
3.8.4. By region

3.9. Market value chain analysis

3.9.1. Stress point analysis
3.9.2. Raw material analysis
3.9.3. Manufacturing process
3.9.4. Distribution channel analysis
3.9.5. Operating vendors

3.9.5.1. Raw material suppliers
3.9.5.2. Product manufacturers
3.9.5.3. Product distributors

3.10. Strategic overview

4. Smart Learning Market, by Technology 

4.1. Natural Language Processing

4.1.1. Market size and forecast, by region, 2019-2027
4.1.2. Comparative market share analysis, 2019 & 2027

4.2. Machine Learning

4.2.1. Market size and forecast, by region, 2019-2027
4.2.2. Comparative market share analysis, 2019 & 2027

4.3. Automated Reasoning

4.3.1. Market size and forecast, by region, 2019-2027
4.3.2. Comparative market share analysis, 2019 & 2027

4.4. Others

4.4.1. Market size and forecast, by region, 2019-2027
4.4.2. Comparative market share analysis, 2019 & 2027

5. Smart Learning Market, by Enterprise size 

5.1. Large Enterprises 

5.1.1. Market size and forecast, by region, 2019-2027
5.1.2. Comparative market share analysis, 2019 & 2027

5.2. Small and Medium Enterprises

5.2.1. Market size and forecast, by region, 2019-2027
5.2.2. Comparative market share analysis, 2019 & 2027

6. Smart Learning Market, by Industry vertical 

6.1. Healthcare 

6.1.1. Market size and forecast, by region, 2019-2027
6.1.2. Comparative market share analysis, 2019 & 2027

6.2. BFSI

6.2.1. Market size and forecast, by region, 2019-2027
6.2.2. Comparative market share analysis, 2019 & 2027

6.3. Retail

6.3.1. Market size and forecast, by region, 2019-2027
6.3.2. Comparative market share analysis, 2019 & 2027

6.4. Government

6.4.1. Market size and forecast, by region, 2019-2027
6.4.2. Comparative market share analysis, 2019 & 2027

6.5. IT & Telecom

6.5.1. Market size and forecast, by region, 2019-2027
6.5.2. Comparative market share analysis, 2019 & 2027

6.6. Energy & Power

6.6.1. Market size and forecast, by region, 2019-2027
6.6.2. Comparative market share analysis, 2019 & 2027

6.7. Others

6.7.1. Market size and forecast, by region, 2019-2027
6.7.2. Comparative market share analysis, 2019 & 2027

7. Smart learning market, by Region

7.1. North America

7.1.1. Market size and forecast, by technology, 2019-2027
7.1.2. Market size and forecast, by enterprise size, 2019-2027
7.1.3. Market size and forecast, by industry vertical, 2019-2027
7.1.4. Market size and forecast, by country, 2019-2027
7.1.5. Comparative market share analysis, 2019 & 2027
7.1.6. U.S.

7.1.6.1. Market size and forecast, by technology, 2019-2027
7.1.6.2. Market size and forecast, by enterprise size, 2019-2027
7.1.6.3. Market size and forecast, by industry vertical, 2019-2027
7.1.6.4. Comparative market share analysis, 2019 & 2027

7.1.7. Canada

7.1.7.1. Market size and forecast, by technology, 2019-2027
7.1.7.2. Market size and forecast, by enterprise size, 2019-2027
7.1.7.3. Market size and forecast, by industry vertical, 2019-2027
7.1.7.4. Comparative market share analysis, 2019 & 2027

7.1.8. Mexico

7.1.8.1. Market size and forecast, by technology, 2019-2027
7.1.8.2. Market size and forecast, by enterprise size, 2019-2027
7.1.8.3. Market size and forecast, by industry vertical, 2019-2027

7.1.8.4. Comparative market share analysis, 2019 & 2027

7.2. Europe

7.2.1. Market size and forecast, by technology, 2019-2027
7.2.2. Market size and forecast, by enterprise size, 2019-2027
7.2.3. Market size and forecast, by industry vertical, 2019-2027
7.2.4. Market size and forecast, by country, 2019-2027
7.2.5. Comparative market share analysis, 2019 & 2027
7.2.6. Germany 

7.2.6.1. Market size and forecast, by technology, 2019-2027
7.2.6.2. Market size and forecast, by enterprise size, 2019-2027
7.2.6.3. Market size and forecast, by industry vertical, 2019-2027
7.2.6.4. Comparative market share analysis, 2019 & 2027

7.2.7. UK

7.2.7.1. Market size and forecast, by technology, 2019-2027
7.2.7.2. Market size and forecast, by enterprise size, 2019-2027
7.2.7.3. Market size and forecast, by industry vertical, 2019-2027
7.2.7.4. Comparative market share analysis, 2019 & 2027

7.2.8. France

7.2.8.1. Market size and forecast, by technology, 2019-2027
7.2.8.2. Market size and forecast, by enterprise size, 2019-2027
7.2.8.3. Market size and forecast, by industry vertical, 2019-2027
7.2.8.4. Comparative market share analysis, 2019 & 2027

7.2.9. Spain

7.2.9.1. Market size and forecast, by technology, 2019-2027
7.2.9.2. Market size and forecast, by enterprise size, 2019-2027
7.2.9.3. Market size and forecast, by industry vertical, 2019-2027
7.2.9.4. Comparative market share analysis, 2019 & 2027

7.2.10. Italy 

7.2.10.1. Market size and forecast, by technology, 2019-2027
7.2.10.2. Market size and forecast, by enterprise size, 2019-2027
7.2.10.3. Market size and forecast, by industry vertical, 2019-2027
7.2.10.4. Comparative market share analysis, 2019 & 2027

7.2.11. Rest of Europe

7.2.11.1. Market size and forecast, by technology, 2019-2027
7.2.11.2. Market size and forecast, by enterprise size, 2019-2027
7.2.11.3. Market size and forecast, by industry vertical, 2019-2027
7.2.11.4. Comparative market share analysis, 2019 & 2027

7.3. Asia Pacific

7.3.1. Market size and forecast, by technology, 2019-2027
7.3.2. Market size and forecast, by enterprise size, 2019-2027
7.3.3. Market size and forecast, by industry vertical, 2019-2027
7.3.4. Market size and forecast, by country, 2019-2027
7.3.5. Comparative market share analysis, 2019 & 2027

7.3.6. China

7.3.6.1. Market size and forecast, by technology, 2019-2027
7.3.6.2. Market size and forecast, by enterprise size, 2019-2027
7.3.6.3. Market size and forecast, by industry vertical, 2019-2027
7.3.6.4. Comparative market share analysis, 2019 & 2027

7.3.7. India 

7.3.7.1. Market size and forecast, by technology, 2019-2027
7.3.7.2. Market size and forecast, by enterprise size, 2019-2027
7.3.7.3. Market size and forecast, by industry vertical, 2019-2027
7.3.7.4. Comparative market share analysis, 2019 & 2027

7.3.8. Japan  

7.3.8.1. Market size and forecast, by technology, 2019-2027
7.3.8.2. Market size and forecast, by enterprise size, 2019-2027
7.3.8.3. Market size and forecast, by industry vertical, 2019-2027
7.3.8.4. Comparative market share analysis, 2019 & 2027

7.3.9. Australia 

7.3.9.1. Market size and forecast, by technology, 2019-2027
7.3.9.2. Market size and forecast, by enterprise size, 2019-2027
7.3.9.3. Market size and forecast, by industry vertical, 2019-2027
7.3.9.4. Comparative market share analysis, 2019 & 2027

7.3.10. South Korea

7.3.10.1. Market size and forecast, by technology, 2019-2027
7.3.10.2. Market size and forecast, by enterprise size, 2019-2027
7.3.10.3. Market size and forecast, by industry vertical, 2019-2027
7.3.10.4. Comparative market share analysis, 2019 & 2027

7.3.11. Rest of Asia Pacific

7.3.11.1. Market size and forecast, by technology, 2019-2027
7.3.11.2. Market size and forecast, by enterprise size, 2019-2027
7.3.11.3. Market size and forecast, by industry vertical, 2019-2027
7.3.11.4. Comparative market share analysis, 2019 & 2027

7.4. LAMEA

7.4.1. Market size and forecast, by technology, 2019-2027
7.4.2. Market size and forecast, by enterprise size, 2019-2027
7.4.3. Market size and forecast, by industry vertical, 2019-2027
7.4.4. Market size and forecast, by country, 2019-2027
7.4.5. Comparative market share analysis, 2019 & 2027
7.4.6. Latin America  

7.4.6.1. Market size and forecast, by technology, 2019-2027
7.4.6.2. Market size and forecast, by enterprise size, 2019-2027
7.4.6.3. Market size and forecast, by industry vertical, 2019-2027
7.4.6.4. Comparative market share analysis, 2019 & 2027

7.4.7. Middle East 

7.4.7.1. Market size and forecast, by technology, 2019-2027
7.4.7.2. Market size and forecast, by enterprise size, 2019-2027
7.4.7.3. Market size and forecast, by industry vertical, 2019-2027
7.4.7.4. Comparative market share analysis, 2019 & 2027

7.4.8. Africa

7.4.8.1. Market size and forecast, by technology, 2019-2027
7.4.8.2. Market size and forecast, by enterprise size, 2019-2027
7.4.8.3. Market size and forecast, by industry vertical, 2019-2027
7.4.8.4. Comparative market share analysis, 2019 & 2027

8. Company profiles

8.1. IBM 

8.1.1. Business overview
8.1.2. Financial performance
8.1.3. Product portfolio
8.1.4. Recent strategic moves & developments
8.1.5. SWOT analysis

8.2. Nuance Communications, Inc.

8.2.1. Business overview
8.2.2. Financial performance
8.2.3. Product portfolio
8.2.4. Recent strategic moves & developments
8.2.5. SWOT analysis

8.3. SparkCognition 

8.3.1. Business overview
8.3.2. Financial performance
8.3.3. Product portfolio
8.3.4. Recent strategic moves & developments
8.3.5. SWOT analysis

8.4. SAP

8.4.1. Business overview
8.4.2. Financial performance
8.4.3. Product portfolio
8.4.4. Recent strategic moves & developments
8.4.5. SWOT analysis

8.5. Numenta

8.5.1. Business overview
8.5.2. Financial performance
8.5.3. Product portfolio
8.5.4. Recent strategic moves & developments
8.5.5. SWOT analysis

8.6. Cisco

8.6.1. Business overview
8.6.2. Financial performance
8.6.3. Product portfolio
8.6.4. Recent strategic moves & developments
8.6.5. SWOT analysis

8.7. Microsoft

8.7.1. Business overview
8.7.2. Financial performance
8.7.3. Product portfolio
8.7.4. Recent strategic moves & developments
8.7.5. SWOT analysis

8.8. CognitiveScale

8.8.1. Business overview
8.8.2. Financial performance
8.8.3. Product portfolio
8.8.4. Recent strategic moves & developments
8.8.5. SWOT analysis

8.9. Hewlett Packard Enterprise Development LP

8.9.1. Business overview
8.9.2. Financial performance
8.9.3. Product portfolio
8.9.4. Recent strategic moves & developments
8.9.5. SWOT analysis

8.10. EXPERT.AI

8.10.1. Business overview
8.10.2. Financial performance
8.10.3. Product portfolio
8.10.4. Recent strategic moves & developments
8.10.5. SWOT analysis

 

Cognitive cloud computing are self-learning systems that imitates the human brain with the help of machine learning. It is often mentioned as the third age of computing that works by utilizing big data analytics and deep learning algorithms.

Factors Propelling Market Growth

Cognitive cloud computing system can combine information or data from different sources such as natural language processing, data mining, and pattern recognition and suggest the most suitable strategic approaches for businesses.

These are the benefits of the advanced technology that has enhanced the adoption of cognitive cloud computing infrastructure by industry verticals including healthcare, BFSI, and retail. This is one of the major factor behind the growth of the market. Another factor behind the market growth is the growing application of artificial intelligence in cognitive cloud computing. Especially in healthcare sector, cognitive computing with AI technologies are being used to in oncology sector to develop suitable medicine. Furthermore, rising implementation of cognitive cloud computing model in OTT sector for high quality video streaming is expected to enhance the market growth.

Recent Advances in the Market

According to a recent report by Research Dive, the most significant players of the global cognitive cloud computing market players include SparkCognition, CognitiveScale, Microsoft, Nuance Communications, Numenta, Cisco, SAP, EXPERT.AI, Hewlett Packard Enterprise Development LP, and IBM. These companies are working towards the further growth of the market by developing various strategies such as merger & acquisition, partnership and collaboration, and product launches etc.

Some of the most recent developments of the market has been mentioned below:

  • According to a most recent news, Nuance Communications, Inc. has been ranked the No.1 Solutions Provider by Black Book Research in five categories. Medical speech recognition and AI technologies are two main categories. The rank was entitled to the company based on 3,250 survey responses from 203 hospitals and 2,263 physician practices. Undoubtedly, the rankings validates Nuance's unparalleled understanding of clients’ needs, farsighted strategy.
  • As per a latest news, SparkCognition has announced a collaboration with Cendana Digital, a data science solutions company. SparkCognition is considered as the world's leading industrial AI Company. The partnership is aimed at the expansion of SparkCognition's global presence to bring advanced AI solutions to the oil and gas market of Malasiya. The partnership was announced on July 9, 2020.
  • In June, 2020, SparkCognition and Siemens has initiated a new partnership on a cybersecurity system, DeepArmor Industrial, stimulated by Siemens. This system is designed to protect operational technology (OT), endpoint, or remote assets across the energy value chain by leveraging artificial intelligence (AI) to observe and identify cyberattacks.

This is an innovative AI-enabled system which will provide the benefits of next-generation antivirus, application control, threat detection, and immediate attack prevention to endpoint power generation, oil and gas, and transmission and distribution assets, which will fleet level cybersecurity monitoring and protection capabilities to the energy industry for the first time.

  • A recent news reveals that Hewlett Packard Enterprise (HPE) is going to initiate a partnership with Wipro Limited. The business giants aims to cooperatively convey their portfolio of hybrid cloud and infrastructure solutions as a service through this partnership. This partnership will enable Wipro to leverage HPE GreenLake across its managed services portfolio and offer a pay-per-use model. This model is agile, elastic, subscription-based, and offers an unfailing cloud experience to the consumers. This will give the customers the benefit of fast tracking their digital transformation efforts by eradicating the necessity for upfront capital investment and overprovisioning costs, while appreciating the added benefits of security, compliance, and on-premises control.

Impact of COVID-19 on the Industry

The coronavirus outbreak has impacted all industries in some way. However, for cognitive cloud computing market is has been proved to be very beneficial. The main attributor of this growth is the rising demand of natural language processing technique in the healthcare and pharmaceutical organizations. This technology has been used to support the healthcare professionals and scientists during the pandemic. NLP technique has been proved to be the most advanced approach to better patient monitoring and patient care. Moreover, being an automated process, the NLP technique allows the healthcare staff to manage and monitor patient more effectively. These are the main factors behind the growth of the cognitive cloud computing market during the pandemic.

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