Cognitive data management primarily implies the amalgamation of different data management tools integrated with cognitive computing platforms (AI and ML feature-based) to augment their operational capabilities. Preemptive and proactive services play a vital role in managing operational scenarios, which have resulted in the transitional shift toward technology developments that are in line with data management. MarketsandMarkets forecasts the cognitive data management market size 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 traditional and emerging market players include Attivio (US), CognitiveScale (US), Cognizant (US), DATUM (US), Expert System (Italy), HPE (US), IBM (US), Immuta (US), Informatica (US), Infosys (India), Kingland Systems (US), Microsoft (US), Oracle (US), Pingar (New Zealand), Reltio (US), Saksoft (India), Salesforce (US), SAP (Germany), SAS (US), SnapLogic (US), SparkCognition (US), StrongBox Data Solutions (Canada), Talend (US), Veritas (US), and Wipro (India). These players have adopted various strategies, such as partnerships, collaborations, agreements, acquisitions, and new product launches, to achieve growth in the global cognitive data management market.
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IBM is one of the market leaders in the cognitive data management market. The company has adopted a balanced growth strategy that includes developing new and innovative enterprise solutions, forming partnerships and collaborations, undertaking mergers and acquisitions, and conducting business expansions. For instance, in March 2018, IBM launched Cloud Private for Data, a new data science and machine learning platform for data-driven decision-making and accelerating Artificial Intelligence (AI) journeys.
Microsoft is a pioneer vendor who provides cognitive data management solutions and services. The company is also following the horizontal integration strategy by launching new products and services. For instance, in April 2018, Microsoft partnered with T-Systems. The partnership was aimed at marketing public cloud services by focusing on the areas, such as SAP applications, managed services offered through Microsoft Azure and Microsoft 365, digital solutions fueled by AI, mixed reality, and Internet of Things (IoT).
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
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