The market of healthcare cognitive computing is anticipated to grow significantly in the coming years. Many factors are contributed for this growth, including the increasing number of chronic diseases and the technical advancements in the healthcare industry. This topic came to us from Market Watch in their article, “Healthcare Cognitive Computing Market to Represent a Significant Expansion in CAGR till 2025 – Saffron Tech, Apixio, Nuance Communications, Inc., Intel Corporation, Palantir Technologies.”
The goal of cognitive computing is to simulate human thought processes in a computerized model. Using self-learning algorithms that use data mining, pattern recognition and natural language processing, the computer can mimic the way the human brain works.
The global cognitive computing market stood at $29.67 in 2016 and is projected to rise at a spectacular CAGR of 49.9% from 2017 to 2025. Expanding at this impressive pace, the global cognitive computing market is estimated to reach a valuation of $1000.52 by the end of the forecast period.
In addition to healthcare, the industries under demand for cognitive computing solutions and services are IT, telecom, energy, utility, retail, aerospace and defense, government, manufacturing, transportation, media, entertainment, agriculture, education, and business functions such as human resources, marketing, and public relations.
Melody K. Smith
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