Global Cognitive Data Management Market 2018-2023 by Component, Deployment Type, Enterprise Size, Business Function, Vertical, and Region

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Aug 22, 2018

DUBLIN, Aug 22, 2018 /PRNewswire/ —

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The “Cognitive Data Management Market by Component (Solutions (Data Integration & Migration, Data Governance & Quality) Services), Deployment Type, Enterprise Size, Business Function, Vertical, and Region – Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

This report forecasts the cognitive data management market to grow from USD 569.9 million in 2018 to USD 1,473.9 million by 2023, at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period

The major factors expected to drive the cognitive data management market growth are the rising use of IoT-based devices, thereby resulting in the upshifting the amount of digital data, and growing adoption of the cognitive computing technology and advanced analytics.

The objective of this report is to define, describe, and forecast the cognitive data management market size on the basis of components, deployment types, organization size, business functions, verticals, and regions. Among solutions, the data integration and migration segment is expected to have the largest market share during the forecast period, as the amount of unstructured data is increasing across various sources, which requires an augmented data management tool to organize it.

Among verticals, the Banking, Financial Services, and Insurance (BFSI) vertical is expected to hold the largest market share, since enterprises tend to generate large volumes of data and require highly optimal solutions to manage it. The manufacturing vertical is expected to grow at the highest CAGR, as industries are transforming greatly toward smart automation, resulting in the generation of voluminous digital data. This factor is expected to have increased the adoption of data management tools among manufacturers.

Under business functions, the operations segment is expected to hold the largest market share and maintain dominance during the forecast period. This share can be predominantly attributed to large volumes of data generated through business operations across verticals, especially manufacturing, BFSI, and healthcare.

Cognitive Data Management Market

In regions, North America is expected to hold the largest market share in the cognitive data management market. Various factors are expected to contribute to the growth of the market across the region. These factors include the growing investments in cognitive technologies by various players, increasing adoption and government support toward Artificial Intelligence (AI), rising advancements in infrastructure, growing digital transformation, and increasing IT budgets.

The growing deployment of data management tools and technologies to increase data access and governance, and increasing adoption of the cloud technology are expected to provide opportunities for cognitive data management vendors in future. However, managing data quality and safety, and the lack of skilled workforce are some of the major challenges restricting the market growth.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Market Opportunities in the Cognitive Data Management Market
4.2 Market Share of Top 4 Verticals and Regions, 2018
4.3 Market Investment Scenario

5 Market Dynamics

5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Rise in IoT Based Devices Upshifting the Amount of Digital Data
5.1.1.2 Rise in Adoption of Cognitive Computing Technology and Advanced Analytics
5.1.1.3 Increasing Volume of Complex Data
5.1.1.4 Streamlining Business Operations
5.1.2 Restraints
5.1.2.1 Prevailing Data Security Apprehensions
5.1.2.1 Complex Analytical Process
5.1.3 Opportunities
5.1.3.1 Deploying Specific Tools and Technologies to Increase Data Access and Data Convergence
5.1.3.2 Increasing Adoption of Cloud Technology
5.1.3.3 Higher Adoption By SMEs
5.1.4 Challenges
5.1.4.1 Lack of Skilled Workforce
5.1.4.2 Managing Data Quality and Safety

6 Cognitive Data Management Market, By Component

6.1 Introduction
6.2 Solutions
6.2.1 Data Integration & Migration
6.2.2 Data Governance & Quality
6.2.3 Others
6.3 Services
6.3.1 Consulting Services
6.3.2 Integration Services
6.3.3 Support & Maintenance Services

7 Cognitive Data Management Market, By Business Function

7.1 Introduction
7.2 Operations
7.3 Sales & Marketing
7.4 Finance
7.5 Legal
7.6 Human Resource

8 Cognitive Data Management Market, By Deployment Type

8.1 Introduction
8.2 On-Premises
8.3 Cloud

9 Cognitive Data Management Market, By Organization Size

9.1 Introduction
9.2 Large Enterprises
9.3 Small & Medium-Sized Enterprises

10 Cognitive Data Management Market, By Vertical

10.1 Introduction
10.1.1 Banking, Financial Services, and Insurance (BFSI)
10.1.1.1 Use Case
10.1.1.2 Data Source
10.1.2 Healthcare & Pharmaceuticals
10.1.2.1 Use Case
10.1.2.2 Data Source
10.1.3 Manufacturing
10.1.3.1 Use Case
10.1.3.2 Data Source
10.1.4 Telecom, IT, and Media
10.1.4.1 Use Case
10.1.4.2 Data Source
10.1.5 Government & Legal Services
10.1.5.1 Use Case
10.1.5.2 Data Source
10.1.6 Others
10.1.6.1 Use Case
10.1.6.2 Data Source

11 Regional Analysis

11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Latin America
11.6 Middle East & Africa

12 Comptetive Landscape

12.1 Overview
12.2 Key Players Operating in the Cognitive Data Management Market
12.3 Competitive Scenario
12.3.1 Partnerships, Agreements, and Collaborations
12.3.2 New Product/Service Launches and Product Enhancements
12.3.3 Mergers and Acquisitions
12.3.4 Business Expansions

13 Company Profiles