Cognitive Computing Market Size

Cognitive Computing Market size is estimated at USD 48.8 billion in 2024 and is expected to cross USD 758.7 billion by the end of 2037, registering more than 23.5% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of cognitive computing is assessed at USD 60.2 billion.     

The growth of the cognitive computing market is anticipated to be supported by the increasing adoption of integrated cloud platforms and artificial intelligence. By 2028, the cloud computing market will have grown to over USD 1 trillion globally. Robotic Process Automation (RPAs) is pertinent to public and private agencies interested in digitizing their records by the joint NARA Memorandum- M-19-21 and the Office of Management and Budget’s (OMB) transition to electronic records.  

The memorandum has mandated agencies to electronically manage permanent and temporary records with the appropriate metadata. Governments are encouraging digitization as it requires organizations to move away from agency-operated records storage facilities and leverage RPAs.  how cognitive technologies could automate Federal records management functions. The use of cloud-based cognitive technology by corporations is one of the new trends in the market. The potential of cognitive cloud computing to boost organizational effectiveness, save expenses, and raise income is advantageous to businesses. Businesses are also concentrating on deploying cognitive cloud computing solutions for supply chain optimization and product development.