How big is the Cognitive Operations Market?

The Cognitive Operations Market size is expected to reach USD 17.59 billion in 2024 and grow at a CAGR of 16.38% to reach USD 37.56 billion by 2029. Read More

What is the current Cognitive Operations Market size?

In 2024, the Cognitive Operations Market size is expected to reach USD 17.59 billion. Read More

Who are the key players in Cognitive Operations Market?

IBM Corporation, Micro Focus International Plc, Broadcom Corporation, VMware, Inc. and Splunk Inc. are the major companies operating in the Cognitive Operations Market. Read More

Which is the fastest growing region in Cognitive Operations Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Cognitive Operations Market?

In 2024, the North America accounts for the largest market share in Cognitive Operations Market. Read More

What years does this Cognitive Operations Market cover, and what was the market size in 2023?

In 2023, the Cognitive Operations Market size was estimated at USD 15.11 billion. The report covers the Cognitive Operations Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cognitive Operations Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Cognitive Operations Market Size & Share Analysis - Industry Research Report

Cognitive Operations Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Cognitive Operations Market is segmented by component (solutions and services), deployment mode (cloud and on-Premises), enterprise size (large enterprises and small and medium-sized enterprises), application (IT operations analytics, application performance management, network analytics, security analytics, infrastructure management, and other applications), industry vertical (BFSI, healthcare & life sciences, IT & Telecom, retail & e-commerce, and other industry verticals), and geography (North America, Europe, Asia-Pacific, and rest of the world). The market sizes and forecasts are provided in value (USD).

Cognitive Operations Industry Overview

Since only some players leverage their offerings in Cognitive Operations Market, there is moderate competition. However, there is vast potential for growth during the studied period. These Cognitive Operation providers release improved products with AI technology integrated, resulting in cost savings, more client satisfaction, and improved accuracy in complex business processes using unstructured data. As businesses shift to digital technologies, they include a wider scope of expansion. Some significant companies offering their services in this sector include Micro Focus International Plc, Broadcom Corporation, IBM Corporation, and VMware, Inc., among others.

March 2023- i3systems, an insurtech startup, partnered with Microsoft Azure to provide industry-leading document and data intelligence accuracy for critical BFSI processes. i3systems' domain-specific AI models backed by Microsoft Azure Cognitive Vision are helping health and life insurance companies. Users of i3systems noticed a considerable improvement in customer NPS and a 70% reduction in processing time and cost.
October 2022- Tata Consultancy Services launched TCS Cognix, the cognitive business operation solution. It is an AI-driven, pre-built human-machine collaboration suite that combines business process management, IT applications or software, data centers, and servers into a single offering. COGNIZ cash flow command center for CFO will provide data on how much money their firm will receive and a forecast of which customers they include payment troubles with.
August 2022- Operaize joins the SAP PartnerEdge program in the manufacturing industry to accelerate innovation for AI-based production planning and scheduling in the cloud. Operaize integrates its AI-based production planning and scheduling solution Cognitive Operations with the production planning component within SAP ERP Central Component (SAP ECC) and SAP S/4HANA. The solution drives customer value using artificial intelligence to achieve speed and accuracy while managing complexity at the same time. It helps customers to take their operational excellence to new heights.