The rising use of cloud-based applications is identified as one of the chief drivers of the global cognitive computing market. Cognitive computing has delivered exceptional business and societal benefits by automating tabulation and harnessing computational processing and processing. These developments have in turn helped businesses deliver enterprise and personal productivity.

Cognitive systems enable people interact with other computing systems and extend their expertise across any domain of knowledge. Thus is supports making complex decisions involving extraordinary volumes of fast moving big data. Cognitive system uses natural language processing and machine learning to enable people and machines interact more easily. These systems learn and interact to provide expert assistance to scientists, engineers, lawyers, and other professionals in a fraction of the time.

The various industry verticals for substantial demand for cognitive computing solutions and services are healthcare, BFSI, IT and telecom, energy and utility, retail, aerospace and defense, government, manufacturing, transportation, media and entertainment, agriculture, education, and business functions such as HR, marketing, and PR. Of these, the healthcare industry hold the dominant market share in 2016 and is anticipated to rise at an impressive pace.

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Of the various regional markets for cognitive computing, presently, North America leads as it accounted for a leading share of the global market in 2016. The growth of the regional market is attributed to the vastly rising demand for deployment of cognitive computing in educational institutions and a wide demand from a growing number of small- and medium-scale enterprises.