Impact of COVID-19: Cognitive Data Management Market is estimated to reach USD 2.1 Billion by 2027 at a CAGR of 19.7%, predicts forencis research (FSR).

Cognitive Data Management Market: Summary

The Global Cognitive Data Management Marketis estimated to reach USD 2.1 Billion by 2027 at a CAGR of 19.7%, predicts forencis research (FSR).

Data management is a process to manage data as a valuable resource and it is the primary task in the IT sector. The cognitive data management contains the technological platform that is used in cognitive computing which is composed of machine learning, natural language processing, and speech recognition. Moreover, it is used to reduce the workload and to manage data. Also, it is used in the field of education and IT sector.

Cognitive Data Management Market: Drivers & Challenges

Market Drivers:

Increasing Demand for IoT Technology

The increasing growth for IoT technology is excepted to improve performance and reduce the workload of the organizations. In addition, it increases the amount of digital data and innovative analytics, and improves the data security. It also reduces administrative workloads and errors. Furthermore, it helps in resolving the issues of the organizations by optimizing the data, data protection, preservation, and privacy.

Hence, increasing demand for IoT technology is expected to surge the cognitive data management market during the forecast period.

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Growing Demand for Cognitive Computing

Growing demand for cognitive computing results in both structured and unstructured data managements. It is also used to provide the most efficient and effective information from the stored data. However, it involves the real-time analysis of the data, which gives the ability to solve the problems. Also, it is used for managing the data operations across all the industries.

This trend is expected to continue in the forecast period, which is anticipated to drive the cognitive data management market during the forecast period.

Market Challenges:

Complexity and Privacy Issues

Some of the organizations are still finding it difficult to adopt the cognitive data management solutions due to data security issues. Furthermore, risks associated with the implementation of the cognitive systems hinder the market growth

Cognitive Data Management Market: Key Segments

  • Based on Deployment Mode: Cloud andOn-premise.
  • Based on Component: Solution and
  • Based on Business Usage: Human Resource, Legal, Finance, and
  • Based on End-User: BFSI, Manufacturing, IT & Telecom, Travel, Media and Entertainment, Government & Legal Servicesand
  • Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africaand South America, with individual country-level analysis

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Key Companies Covered

  • IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • com, Inc.
  • SAP SE
  • Informatica
  • Cognizant
  • SAS Institute Inc.
  • Microsoft Corporation
  • Oracle Corporation
  • Infosys Limited
  • Hewlett Packard Enterprise Co
  • Other Key Companies

Cognitive Data Management Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Cognitive Data Management Market, By Deployment Mode

  • Cloud
  • On-premise

Cognitive Data Management Market, By Component

Solution

  • Data Integration
  • Data Readiness and Quality
  • Data Management Efficiency

Services

  • Support & Maintenance Services
  • Consultancy

Cognitive Data Management Market, By Business Usage

  • Human Resource
  • Legal
  • Finance
  • Marketing

Cognitive Data Management Market, By End-User

  • BFSI
  • Manufacturing
  • IT & Telecom
  • Travel
  • Media and Entertainment
  • Government & Legal Services
  • Others

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Cognitive Data Management Market, By Region

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific

North America

  • US
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • Italy
  • UK
  • The Netherlands
  • Rest of Europe

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa

South America

  • Brazil
  • Argentina
  • Rest of South America

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