Cognitive Data Management Market Growth Factor, Key Players, Trends Drivers And Region-Forecasts till 2024

Cognitive data management Market refers to the use of cognitive computing to automate the manual activities in data management. This helps in reducing the administrative burden imposed by the data management and minimize errors. Earlier, data management practitioners used manual processes to analyze the data. However, due to advancements in the technology and the development of intelligent algorithms & advanced tools, the data governance & management has become much easier. This is encouraging the demand for cognitive computing solutions among data-intensive industries such as retail, banking, manufacturing, and healthcare.

Cognitive Data Management Market is expected to witness significant growth during the forecast period driven by increasing penetration of IoT devices and growing investments in cognitive technologies. The widespread adoption of IoT-based devices among the enterprises has resulted in the massive amount of digital data. This is encouraging the organizations to adopt advanced data analytics & management solutions to process their data and extract actionable insights.

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The increasing investments by market players in cognitive technologies also foster the market growth. The organizations are heavily investing in cognitive and AI software capabilities to automate the customer service experience, optimize the business performance, and assist in decision making.

In June 2016, KPMG has integrated cognitive technologies and the capabilities of the IBM Watson computing technology to a wide range of its professional services offerings in Australia. This has enabled the company to accelerate the team’s ability to analyze and act on financial data important for the health of the organization and capital markets.

North America is projected to dominate the cognitive data management market due to its advanced IT infrastructure and rapid adoption of technologies such as machine learning, AI, and big data analytics. The growth of the cloud computing technology and penetration of IoT platforms in the region are expected to generate massive volumes of complex data. This, in turn, increases the need for robust platforms that will handle data management tasks efficiently.

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Asia Pacific is projected to exhibit a faster adoption rate in the use of cognitive computing platforms. the cognitive data management market is driven by the growing digitalization and the increasing penetration of smartphones in this region. The global technology players are also investing in advanced technologies to foster their business growth.

Cognitive data management Market is analyzed to be highly fragmented due to the presence of both multinational and regional players. The key players in the cognitive data management market are Attivio, CognitiveScale, Cognizant, DATUM, Expert System, HPE, IBM, Immuta, Informatica, Infosys, Kingsland Systems, Microsoft, Oracle, Pingar, Reltio, Saksoft, Salesforce, SAP, SAS, SnapLogic, SparkCognition, StrongBox Data Solutions, Talend, Veritas, and Wipro.

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