In current competitive business environment cognitive data management solutions are playing an aquiline role in the growth of businesses, consumer, and government sectors. The huge spread of internet connectivity and massive growth of data usage are creating new business opportunities for the cognitive data management solution providers.
The increasing demand for digitization in various industry verticals is surging the growth of the cognitive data management market. Moreover, the rise of advanced and digital technology has led to the increased adoption of cognitive data management across the globe. In recent years, cloud integration in cognitive data managementhas gained favor among organizations, corporations, and government agencies that implement SaaS (Software as a Service).
Ideally, cognitive data management solutions provide a robust mechanism for consolidating and indexing this file metadata into a unified or global namespace construct. The cognitive data management solutions are used to standardize business processes and definitions. Advanced cognitive data management solutions are creating business glossary with clear business definitions.
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Furthermore, increasing growth of connected devices is creating potential growth opportunities for the cognitive data management market. More to this, the rising trend for the business optimization is a primary factor towering the growth of the cognitive data management market. Small, medium and large enterprises are increasingly deploying cognitive data management solutions for effective management of their business ecosystem.
Cognitive Data Management Market: Drivers and Challenges
The major growth drivers of the cognitive data management market include adoption of the latest technological advancements and increasing demand of cloud-based applications. In addition, use of cognitive data management in various industry verticals shall drive the growth of cognitive data management market in near future.
Advancements in industrial IT infrastructure across the globe has led to growth of the cognitive data management market across the globe. In parallel, increasing growth of IoT devices is resulting in the growth of the digital data coupled with increasing adoptation of cognitive data management solutions. These factors are expected to impel the growth of the cognitive data management market.
However, the major challenge faced by the cognitive data management solution providers are integration of new technologies within existing infrastructure. High deployment cost of the cognitive data management solutions is creating barriers for the cogitative data management solutions providers. In addition, interoperability problem, integration of new technologies within existing infrastructure are some of the major challenges for the cognitive data management solution providers.
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Competition Landscape
Key Players
Some of the major players in global Cognitive Data Management market include Attivio, CognitiveScale, Cognizant, DATUM, Expert System, HPE, IBM, Immuta, Informatica, Infosys, Kingland Systems, Microsoft, Oracle, Pingar, Reltio, Saksoft, Salesforce, SAP, SAS, and other cognitive data management solution providers.
Regional Overview
Presently, the cognitive data management market in North America has shown significant growth rate, due to increasing advancements in enterprise IT infrastructure. Due to the growing demand for enterprise applications, coupled with technological advancements in the region, the cognitive data management market in North America is projected to experience a high growth CAGR.
Asia Pacific (APEC) is holding the largest market share in the cognitive data management market, due the increasing demand from various industries and quantitative increase in IoT devices. Moreover, Europe is the fastest growing market for cognitive data management, due to an increase in the adoptation of cognitive data management solutions in small and medium enterprises. The demand for cognitive data management has risen dramatically over the past 12 months, globally.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Cognitive Data Management Market: Segmentation
The global cognitive data management market can be segmented as:
Cognitive Data Management Market Segmentation by Solutions:
- Data Integration & Migration
- Data Governance & Quality
- Others
Cognitive Data Management Market Segmentation by Deployment:
- On-Premise
- Cloud-based
Cognitive Data Management Market Segmentation by Enterprise Size:
- Large Enterprise
- Small & Medium Enterprise
Cognitive Data Management Market Segmentation by Industry:
- Manufacturing
- Healthcare and Pharmaceuticals
- Government and Legal Services
- Banking, Financial Services, and Insurance (BFSI)
- Telecom & IT
- Others (retail, utilities, automotive etc.)
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