The machine learning segment is projected to grow with largest CAGR over the
forecast period.
On the basis of technology, the market is diversified into machine learning, natural language
processing, planning and scheduling. The natural language processing market held the dominant
position in 2016 and is projected to retain its dominance throughout the forecast period. Natural
language processing helps the cognitive system to extract the meaning full information from
plain text. In addition, the machine learning segment is projected to grow with the largest CAGR
over the forecast period. The cognitive system has the capability of continues learning, which
helps to deliver the grater values. Hence, this helps to increase the capability of machine
learning and improve their expertise by auto-learning.
The Banking segment is projected to hold the dominating position
On the basis of end users, the cognitive system market is diversified into banking, education,
government,
healthcare,
insurance,
manufacturing,
security
and
investment,
telecommunications, transportation and others. The banking segment is projected to hold the
dominating position over the forecast period. High demand for customer services, advisory, and
investment consulting have raised the demand for the cognitive system in the banking sector. In
addition, the healthcare segment is projected to grow with largest CAGR throughout the forecast
period.
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North America holds a dominant position in the global Cognitive systems market
According to Coherent Market Insights, North America held the dominant position in the global
Cognitive systems market in 2016 and is projected to retain its dominance throughout the
forecast period. In 2016, the North America cognitive system market generated a value of US$
5.16 million. The U.S and Canada are the major countries driving the growth for Cognitive
systems market in North America region. In addition, the Asia Pacific cognitive system market is
projected to grow with the largest CAGR over the forecast period. The increasing adoption of
digitalization in public, government, and industrial sector and advancement in IT infrastructure
have increased the market of cognitive system in Asia Pacific region. India, china, and Japan are
some of the major economies, which are driving the growth of cognitive market in Asia Pacific
region.
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Coherent Market Insights is a prominent market research and consulting firm offering action-
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potential absolute dollar opportunity.