IBM Watson In Demand

The market for IBM Watson services is poised to surge at a CAGR of 30% over the next ten years, underpinned by demand from regional businesses that are seeking to reinvent themselves with advanced AI-driven computing power, according to a report by FactMR .

Healthcare is set to be the leading industry vertical in the market, trailed by banking, and finance & insurance. Also, IBM Watson language services will remain dominant in the market based on service type, accounting for over 3/5 share of the market throughout the forecast period. 

North America is expected to emerge as the most remunerative market for IBM Watson services, underpinned by demand from regional businesses that seek reinventing themselves for providing differentiated experiences to their clients. 

Key Conclusions From The Market Study

The global IBM Watson services market is anticipated to reach a market value of US$ 44.5 Bn by the end of 2031, with an absolute dollar opportunity of US$ 41.3 Mn. The IBM Watson language service segment is projected to expand at a CAGR of 32% (16X) through 2031. According to one analyst, “healthcare and BFSI are pioneer sectors for IBM Watson service adoption due to their real-time data processing attributes,”

Apart from SaaS natured commercialisation of Watson technology, the company has also created a separate IBM Watson ecosystem for channeling associated products to target customers. North America leads the global IBM Watson services market accounting for more than 50% of overall revenue generation.

  • IBM Watson vision services are estimated to progress at a significant CAGR during the forecast period due to high demand from the manufacturing industry.
  • IBM is strongly focused on partnership agreements to deliver Watson services across regions. For instance, in China, IBM entered into a partnership with Baheal Pharmaceutical Group to provide Watson oncology technology for cancer treatment.

Winning Strategy

Key providers of IBM Watson services are principally focusing on partnership agreements to enhance their market presence and overall profitability. 

  • IBM Corp. is targeting partnerships with local IT service providers rather than establishing its own branches for service offerings across the globe, which benefits both sides. This helps boost the company’s revenue growth and enhance overall market share.
  •  Various market players such as Accenture, TCS, Capgemini, KPMG, and Deloitte have been focusing on increasing their client base through building internal strategies and providing affordable pricing.
  • IBM Corp. has been investing heavily in R&D to transform its cognitive solutions for the healthcare industry.

IBM:      FactMR:      FactMR

You Might Also Read: 

Using AI To Reduce Business Risks:

 

« Politicians Are Ignorant Of Cyber Security
Heads Of State On NSO Spyware List »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

LockLizard

LockLizard

Locklizard provides PDF DRM software that protects PDF documents from unauthorized access and misuse. Share and sell documents securely - prevent document leakage, sharing and piracy.

FT Cyber Resilience Summit: Europe

FT Cyber Resilience Summit: Europe

27 November 2024 | In-Person & Digital | 22 Bishopsgate, London. Business leaders, Innovators & Experts address evolving cybersecurity risks.

BackupVault

BackupVault

BackupVault is a leading provider of automatic cloud backup and critical data protection against ransomware, insider attacks and hackers for businesses and organisations worldwide.

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

ON-DEMAND WEBINAR: What Is A Next-Generation Firewall (and why does it matter)?

ON-DEMAND WEBINAR: What Is A Next-Generation Firewall (and why does it matter)?

Watch this webinar to hear security experts from Amazon Web Services (AWS) and SANS break down the myths and realities of what an NGFW is, how to use one, and what it can do for your security posture.

D-RisQ

D-RisQ

D-RisQ is focussed on delivering techniques to reduce the development costs of complex systems and software whilst maximising compliance

Zscaler

Zscaler

Zscaler enables the world’s leading organizations to securely transform their networks and applications for a mobile and cloud first world.

MyCERT

MyCERT

MyCERT is the National Computer Emergency Response Team of Malaysia.

ShmooCon

ShmooCon

ShmooCon is an annual east coast hacker convention offering three days of demonstrations and discussions of critical infosec issues.

Green Hills Software

Green Hills Software

Green Hills Software is the largest independent vendor of embedded secure software solutions for applications including the Internet of Things.

i-Sprint Innovations

i-Sprint Innovations

i-Sprint is a leader in Securing Identity and Transactions in the Cyber World for industries that are security sensitive.

Netragard

Netragard

Netragard has an established reputation for providing high-quality offensive and defensive security services.

Velta Technology

Velta Technology

Velta Technology provide digital safety and cybersecurity solutions for the industrial space.

Nineteen Group

Nineteen Group

Nineteen Group delivers major-scale exhibitions within the security, fire, emergency services, health and safety, facilities management and maintenance engineering sectors.

CommandK

CommandK

CommandK provides companies with infrastructure to protect their sensitive data. Built-in solutions to prevent data-leaks and simplify governance.

Rampart AI

Rampart AI

Tackling DevSecOps Issues In Application Security. Rampart has revolutionized the shift left security approach, applying zero-trust to application development.

iNovex

iNovex

iNovex is a community of innovators that work together to solve hard problems. We partner with you to meet problems head-on and push boundaries with technology solutions.

Axians

Axians

Axians supports its customers in their digital transformation journey. We offer ICT solutions and services in areas including Enterprise Networks and Cybersecurity.

Wattlecorp Cybersecurity Labs

Wattlecorp Cybersecurity Labs

Wattlecorp Cybersecurity Labs are a group of IT security specialists, ethical hackers, and researchers driven to identify security flaws before cyber threat actors does.

Btech

Btech

Btech is the market leader in providing affordable managed IT security services for credit unions.

Advanced IT

Advanced IT

Reliable managed IT Security & support services that will help you take your business operations to the next level without breaking the bank!