Global Cognitive Data Management Market is estimated to reach USD 2.1 Billion by 2027 at a CAGR of 19.7%, predicts forencis research
Cognitive Data Management Market: Summary
The Global Cognitive Data Management Market is estimated to reach USD 2.1 Billion by 2027 at a CAGR of 19.7%, predicts forencis research (FSR).
Data management is a process to manage data as a valuable resource and it is the primary task in the IT sector. The cognitive data management contains the technological platform that is used in cognitive computing which is composed of machine learning, natural language processing, and speech recognition. Moreover, it is used to reduce the workload and to manage data. Also, it is used in the field of education and IT sector.
Cognitive Data Management Market: Drivers & Challenges
Increasing Demand for IoT Technology
The increasing growth for IoT technology is excepted to improve performance and reduce the workload of the organizations. In addition, it increases the amount of digital data and innovative analytics, and improves the data security. It also reduces administrative workloads and errors. Furthermore, it helps in resolving the issues of the organizations by optimizing the data, data protection, preservation, and privacy.
Hence, increasing demand for IoT technology is expected to surge the cognitive data management market during the forecast period.
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Growing Demand for Cognitive Computing
Growing demand for cognitive computing results in both structured and unstructured data managements. It is also used to provide the most efficient and effective information from the stored data. However, it involves the real-time analysis of the data, which gives the ability to solve the problems. Also, it is used for managing the data operations across all the industries.
This trend is expected to continue in the forecast period, which is anticipated to drive the cognitive data management market during the forecast period.
Complexity and Privacy Issues
Some of the organizations are still finding it difficult to adopt the cognitive data management solutions due to data security issues. Furthermore, risks associated with the implementation of the cognitive systems hinder the market growth
Cognitive Data Management Market: Key Segments
- Based on Deployment Mode: Cloud and On-premise.
- Based on Component: Solution and
- Based on Business Usage: Human Resource, Legal, Finance, and
- Based on End-User: BFSI, Manufacturing, IT & Telecom, Travel, Media and Entertainment, Government & Legal Services and
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis
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Key Companies Covered
· IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
· Salesforce.com, Inc.
· SAP SE
· SAS Institute Inc.
· Microsoft Corporation
· Oracle Corporation
· Infosys Limited
· Hewlett Packard Enterprise Co
· Other Key Companies
Cognitive Data Management Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Cognitive Data Management Market, By Deployment Mode
Cognitive Data Management Market, By Component
· Data Integration
· Data Readiness and Quality
· Data Management Efficiency
· Support & Maintenance Services
Cognitive Data Management Market, By Business Usage
· Human Resource
Cognitive Data Management Market, By End-User
· IT & Telecom
· Media and Entertainment
· Government & Legal Services
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Cognitive Data Management Market, By Region
· South Korea
· Rest of Asia-Pacific
· The Netherlands
· Rest of Europe
Middle East and Africa
· Saudi Arabia
· Rest of Middle East & Africa
· Rest of South America
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About Forencis Research
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