Cognitive Systems Spending Market

North America to Witness Robust Growth Rate

VALLEY COTTAGE, New York, January 19, 2017 /PRNewswire/ --

"The US$ 5.49 Bn global cognitive systems spending market will witness a massive hike in the revenues, reaching a whopping US$ 21.46 Bn by the end of 2026. Over the 10-year assessment period 2016-2026, the global cognitive systems spending market will expand at a healthy CAGR of 14.6%, gaining a healthy incremental opportunity of over US$ 15 Bn." - Future Market Insights

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The advent of technology has created an inevitable need for human-machine communication that increasingly compels individual users as well as enterprises to employ machine intelligence for better, facilitated, and organised work. This, being the most prominent factor driving the cognitive systems spending, Future Market Insights identifies few other key influencers associated with the growth of cognitive systems spending market assessed for the next decade.

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• Cognitive technology has been undergoing constant evolution, fuelling the demand in various end-use sectors.
• Following developed market, developing regions are increasingly augmenting their IT spending on cognitive systems, which will be one of the predominant factors uplifting the cognitive systems spending in emerging economies.
• As adoption of intelligent Personal Assistants is surging, the applications of Natural Language processing technology is also likely to experience a significant rise in terms of sales revenues.

In a recent market outlook titled "Cognitive Systems Spending: Global Industry Analysis and Opportunity Assessment, 2016-2026 ," Future Market Insights throws light on all the critical factors related to current market condition and future prospects. The report offers detailed insights into all the market segments, including regional analysis.

Regional analysis reflects emergence of developing markets 

North America will continue to hold the strongest foothold in the global market with around 65% market value share in 2026. This US$ 3.5 Bn regional market is anticipated to attain a value of US$ 13.83 Bn by the end of 2026, followed by Western Europe, Latin America, and APEJ.