Global $21 Bn Cognitive Operations Market to 2023
DUBLIN, Aug 16, 2018 /PRNewswire/ --
The "Cognitive Operations Market by Component (Solutions and Services), Application (ITOA, APM, Infrastructure Management, Network Analytics, and Security Analytics), Deployment Mode, Enterprise Size, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global cognitive operations market size to grow from USD 7.27 billion in 2018 to USD 21.67 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 24.4% during the forecast period.
Major growth factors for the market are the growing need to monitor the complex IT environment, and increasing focus on the adoption of cloud-based cognitive IT operations solutions.
The solutions segment is expected to account for a larger market size during the forecast period. The software tools segment is expected to hold a larger market size, as cognitive operations software tools help organizations to find solutions for various tasks of IT operations, such as monitoring and managing large and complex environments with less efforts. On the contrary, the services segment is expected to grow at a faster rate during the forecast period.
The cloud deployment mode is expected to grow at a higher CAGR during the forecast period, as the cloud provides multiple benefits, such as reduced operational costs, simple deployments, and higher scalability. The on-premises deployment mode, on the other hand, is expected hold a larger market size during forecast period, as data sensitive enterprises prefer on-premises deployment of cognitive operations solutions.
The large enterprises segment is expected to account for a larger market size forecast period, whereas the Small and Medium-sized Enterprises (SMEs) segment to register a higher CAGR during the forecast period. Cognitive operations solutions enable SMEs not only to get real-time data but also to predict future outcomes.
The security analytics application is projected to be the fastest growing application in the cognitive operations market, whereas the IT operations analytics (ITOA) application to have the largest market size during the forecast period. Security analytics helps enterprises to successfully detect, investigate, and correct security threats across all the IT operation processes. ITOA helps in unlocking trends for organizations connect performance issues and infrastructure changes to incident tickets.
Among the verticals, the Banking, Financial Services, and Insurance (BFSI) vertical is expected to hold the largest market size in the cognitive operations market. The IT and telecom vertical is expected to grow at the highest CAGR during the forecast period. The IT and telecom vertical uses cognitive operations solutions to get critical insights from the huge volumes of data generated from user networks. With the help of cognitive operations capabilities, the banking sector can analyze large volumes of data to enhance customer experience.
The report on the global cognitive operations market covers 4 major regions: North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). North America is expected to be the largest revenue generating region, due to the growing demand for cognitive operations solutions to optimize the IT operations processes. APAC, on the other hand, is expected to be the fastest growing region in the market during the forecast period.
Constantly changing IT operations environment, complex integration of cognitive operations capabilities with the existing systems, and lack of skills and expertise are major challenges for the market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Cognitive Operations Market
4.2 Market By Vertical
4.3 Market Analysis, By Region
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need to Monitor the Complex IT Environment
5.2.1.2 Increasing Focus Toward Adoption of Cloud-Based Cognitive IT Operations Solutions
5.2.2 Restraints
5.2.2.1 Lack of Skills and Expertise
5.2.3 Opportunities
5.2.3.1 Growing Need to Deliver an Enhanced Customer Experience
5.2.3.2 Increasing Need to Analyze Growing IT Operations Data
5.2.4 Challenges
5.2.4.1 Constantly Changing IT Operations Environment
5.2.4.2 Integration of Cognitive Operations Capabilities With the Existing Systems
5.3 Cognitive Operations Market: Use Cases
5.3.1 Use Case 1: AI-Powered Monitoring Solutions to Enhance the Customer Experience (IT Services)
5.3.2 Use Case 2: AI-Powered Software for Enterprise Security (Digital Marketing and Media)
5.3.3 Use Case 3: AI-Powered Capacity Optimization Solution to Improve the Efficiency and Reduce the Cost of IT Resources (Italian Bank)
5.3.4 Use Case 4: AI-Powered Platform to Simplify Infrastructure Management and Improve Transparency (IT Service)
5.3.5 Use Case 5: AI-Powered Platform to Improve Customer Experience (Banking and Finance)
5.4 Regulatory Implications
5.4.1 Introduction
5.4.2 Sarbanes-Oxley Act 2002
5.4.3 General Data Protection Regulation
5.4.4 Basel
6 Cognitive Operations Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Software Tools
6.2.2 Platforms
6.3 Services
6.3.1 Deployment and Integration
6.3.2 Training and Consulting
6.3.3 Support and Maintenance
7 Market By Application
7.1 Introduction
7.2 IT Operations Analytics
7.3 Application Performance Management
7.4 Infrastructure Management
7.5 Network Analytics
7.6 Security Analytics
7.7 Others
8 Cognitive Operations Market, By Deployment Mode
8.1 Introduction
8.2 Cloud
8.3 On-Premises
9 Market By Enterprise Size
9.1 Introduction
9.2 Large Enterprises
9.3 Small and Medium-Sized Enterprises
10 Cognitive Operations Market, By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Healthcare and Life Sciences
10.4 IT and Telecom
10.5 Retail and Ecommerce
10.6 Manufacturing
10.7 Government
10.8 Media and Entertainment
10.9 Others
11 Cognitive Operations Market, By Region
12 Competitive Landscape
12.1 Overview
12.2 Top Players in the Cognitive Operations Market
12.3 Competitive Scenario
12.3.1 New Product Launches/Product Upgradations
12.3.2 Partnerships and Collaborations
12.3.3 Mergers and Acquisitions
13 Company Profiles
13.1 Introduction
13.2 IBM
13.3 CA Technologies
13.4 Micro Focus
13.5 VMware
13.6 Splunk
13.7 BMC Software
13.8 HCL Technologies
13.9 New Relic
13.10 Servicenow
13.11 Cloudfabrix
13.12 Loom Systems
13.13 Dynatrace
13.14 Devo
13.15 Logz.Io
13.16 Corvil
13.17 Interlink Software Services
13.18 Correlata
13.19 Science Logic
13.20 Sumo Logic
13.21 Risc Networks
13.22 Bay Dynamics
13.23 Appnomic
13.24 Appdynamics
13.25 Zenoss
13.26 Ymor
For more information about this report visit https://www.researchandmarkets.com/research/j3hqsd/global_21_bn?w=5
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