Cognitive Systems Spending Market: Banking Application Segment Expected to Witness Significantly High Market Attractiveness During the Forecast Period

In banking, cognitive systems are used for customer service, advisory and decision-making support, investment consulting, and others. The banking sector is the most attractive vertical segment in the global cognitive systems spending market.


Albany, NY -- (SBWIRE) -- 07/05/2017 -- Cognitive systems with high-definition technology help in determining the world's most composite data analysis complexities by utilizing the power of big data, machine learning, natural language processing, and automated reasoning technology. Some advances in technology is expected to benefit the diffusion of big data, thereby booming the growth of the global cognitive systems spending market in the near future. Considering this fact, Market Research Reports Search Engine (MRRSE) has recently announced the addition of a new market report to its vast online repository with a title "Cognitive Systems Spending Market: Global Industry Analysis and Opportunity Assessment, 2016 - 2026". The primary objective of the report is to offer updates on market opportunities and to understand the performance and growth of the key segments of the global cognitive systems spending market.

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This report on the global cognitive systems spending market for the period 2016-2026 starts with an overview of the industry followed by definitions, cognitive systems' process flow analysis and cognitive systems' ecosystem. It presents an executive summary along with market taxonomy where it segments the global cognitive systems spending market on the basis of technology type, product type, deployment type, verticals and region. The banking sector is the most lucrative vertical segment in the global cognitive systems spending market. The banking segment accounted for more than 20% of value share in 2016 and is expected to rise at a CAGR of 15.5% during the forecast period in North America. Through extensive research, the report has studied how the different market dynamics are expected to impact the current and future scenario of the global cognitive systems spending market, thereby providing useful insights to market players to plan their differentiating strategies capable of changing with the changing market landscape. The report has studied the market extensively and has identified numerous drivers, restraints, risks and trends that are expected to influence the global cognitive systems spending market over the coming years.

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The last section of the report is devoted to the study of the market performance of some of the leading companies operating in the global cognitive systems spending market. The report has profiled a few of the leading market players and presented a detailed analysis of their overall business performance and a complete evaluation of their short-term and long-term business and go-to-market strategies. Some of the key players operating in the market are International Business Machines Corp (IBM), Accenture Plc., HP Inc, Microsoft, Intel Corporation, Attivio, Wipro Limited, COGNITIVE SCALE INC, IPSOFT INC and others. Among these, International Business Machines Corp (IBM) holds a market share of more than 50% in the global cognitive systems spending market. The company is dominating the global market in banking along with manufacturing, hospital, and education cognitive systems.

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