Cognitive Operations Market Drivers and Key Players Strategies Analyzed


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Sep 22, 2021, 09:47 EST


Shibuya-ku, Tokyo, Japan, Japan, Sep 22, 2021, 09:47 /Comserve / -- Cognitive Operations Market analyze market size, share, growth, trends, segmentation, top key players, strategies, demand, statistics, competitive landscape and forecast.

The Cognitive Operations Market is expected to grow at a CAGR of 27% over the forecast period 2020 to 2025. The market's primary growth determinants include the increasing demand to monitor the complex IT environment and a growing focus on the enactment of cloud-based cognitive IT operations solutions. For instance, according to SAS Institute Inc., in 2018, the worldwide revenue from business operation analytics software amounted to 60.66 billion U.S. dollars as against 54.02 billion in 2017.

- Security analytics applications are expected to register the fastest growth rate during the forecast period. Security analytics applications enable organizations to identify emerging security threats with the help of evidence-based knowledge. The demand for these applications will grow among enterprises to respond to emerging threats quickly.
- According to Microsoft Corporation, the number of internet-connected devices is estimated to be 75 billion by 2025. As the world moves closer to an “Internet of Everything,” the amount and variety of digital assets stored, processed and shared by enterprises rise. Even established sectors such as manufacturing exact almost 50% of the products they develop to be “smart” or “connected” in some way by 2020, consequently opening up new revenue streams in data-driven services such as Cognitive Operations.
- The expectations of the organizations from embracing automation are moving towards getting value at a higher speed. Hence, with the growing automation across the businesses, cognitive service providers are gaining adhesion for developing more APIs to built smarter applications that helps in aligning the core works with business objectives.
- However, a lack of skilled professionals may hamper the growth of the market in the future. On the other hand, a substantial market opportunity lies ahead for the players majorly due to the growing demand for reducing operational costs and enhancing customer experience among various user industries.

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Key Market Trends

IT and Telecommunication Segment to Grow Significantl

- The cognitive services strengthen the telecommunication industry in improving their core trade tasks by automating support bots by interpreting natural language and translating text. Eventually, it aids in changing the telecom back offices into a knowledgeable customer support team. Intelligent network operations, also recognized as a cognitive network operations center, utilize artificial intelligence (AI) and machine learning (ML) and advanced analytics to drive self-healing, self optimized, and autonomous transport networks.
- To heighten business scalability, activity, and performance, telecom operators grow cognitive network operation centers based on a three-layer framework, namely cognitive computing engine with AI and ML abilities, scalable data infrastructure, smart operational apps, workflows, and dashboards.
- Firms like Nokia in March 2020 introduced AVA 5G Cognitive Operations, which is a complete AI as a service offering, combining data science, machine learning, telco, and cloud expertise to bring AI to life. It anticipates network and service failures with a high level of precision and accuracy up to seven days. The Nokia 5G Cognitive Operations is claimed to solve network failures up to 50% faster and accurately assess the impact on customers and services.
- Besides, IBM solution for cognitive network operations is built on foundational components, such as Netcool Operations Insight with Agile Service Manager, IBM Operations Analytics with predictive insights, and IBM SPSS/Streams and automation devices such as Robotic Process Automation, and Runbook Automation providing the skills for alarm pattern analysis, root cause analysis, and predictive insights to allow proactive management and automated resolution, as applicable.
- Moreover, the volume of big data in data storage centers is on the rapid increase in addition to its complexity leading to the adoption of cognitive operations. It provides the organization with the right information to sharpen and accelerate business decision making. For instance, according to Forbes, the amount of data created each year is growing faster than ever. By 2020, every human on the planet will be producing 1.7 megabytes of information each second. In only a year, the accumulated world data will grow to 44 zettabytes (that’s 44 trillion gigabytes).

Asia-Pacific is Expected to Witness Significant Growth

- The Asia-pacific region is expected to witness the fastest growth in demand during the forecast period. Significant growth factors for the market in APAC include the rising complexities in IT environment, increasing adoption of cognitive operations solutions in the Telecommunication, Banking, Financial Services, and Insurance (BFSI) vertical for optimizing the IT operations processes, and an increasing demand to deliver an improved customer experience across all the principal industry verticals.
- Besides, the telecom sector, which has a higher market share in the Cognitive Operations Market, is booming in the APAC region. For instance, according to S&P Global, in 2019, the number of mobile subscriptions in China rose to 1600 million as against 1230 million in India and 332.5 million in Indonesia.
- The region of Asia-Pacific is projected to be the fastest-growing region for the data governance, data management, data analytics, owing to the increasing technology expenditures in economies, such as India, China, Singapore, and Australia. The need for cost-effective data management and governance solutions and services among small- and medium-sized enterprises (SMEs) further motivates the need for the Cognitive Operations Market in the region.
- Initiatives taken by the region regarding smart manufacturing and digitization are anticipated to be a important driver for the region's market. Also, owing to fast economic developments, digitalization, foreign direct investments, globalization, and enhanced adoption of high-end technologies across important APAC countries, the market is supposed to see a increase in demand.

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Competitive Landscape

The Cognitive Operations Market is moderately competitive owing to the presence of many small and large players in the market providing services in domestic as well in the international market. The major players are adopting strategies like product and service innovation and mergers and acquisitions to expand their reach and stay ahead of the competition. Some of the major players in the market are Micro Focus International Plc, Broadcom Corporation, IBM Corporation, and VMware, Inc. among others.

- March 2020 - Nokia announced the launch of a complete AI as a service offering: Nokia AVA 5G Cognitive Operations. Nokia AVA 5G Cognitive Operations is a complete AI as a service offering, combining data science, machine learning as well as telco, and cloud expertise to bring AI to life. It anticipates network and service failures with a high level of precision and accuracy up to seven days in advance. If failures arise, Nokia 5G Cognitive Operations can solve them up to 50 percent faster and accurately assess the impact on customers and services.

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