Growing: Huge Revenue generation in the Global Cognitive Cloud Computing Market
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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.
Check out How COVID-19 impact on the Cognitive Cloud Computing
Market @ https://www.researchdive.com/connect-to-analyst/2800
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.
Download the sample report to delve into the Europe and LAMEA share in
the global cognitive cloud computing market @ https://www.researchdive.com/download-sample/2800
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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