IBM Watson In Demand

Uploaded on 2021-07-22 in TECHNOLOGY-Key Areas-Artificial Intelligence, FREE TO VIEW, BUSINESS-Services-IT & Telecoms

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
Cyrin

Real Attacks. Real Tools. Real Scenarios.
Schedule a demo

Go Cyber

Training that transforms behaviours

Sign Up: Cyber Security Intelligence Newsletter

Directory of Suppliers

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

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.

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

NordLayer

NordLayer

NordLayer is an adaptive network access security solution for modern businesses — from the world’s most trusted cybersecurity brand, Nord Security. 

Practice Labs

Practice Labs

Practice Labs is an IT competency hub, where live-lab environments give access to real equipment for hands-on practice of essential cybersecurity skills.

TraceSecurity

TraceSecurity

TraceSecurity, a leading pioneer in cloud-based security solutions, provides IT governance, risk and compliance (GRC) management solutions.

CERT.LV

CERT.LV

CERT.LV is the national Computer Emergency Response Team for Latvia.

Professional Insurance Agents (PIA)

Professional Insurance Agents (PIA)

Professional Insurance Agents (PIA) offer commercial insurance services including Cyber Liability insurance.

Bace Cybersecurity Institute (BCI)

Bace Cybersecurity Institute (BCI)

Bace Cybersecurity Institute focuses on understanding, empowering and taking action across four critical areas driving continual improvement toward a safer, more secure cyber world.

Aergo

Aergo

Aergo offers an easier and more proven way to adopt blockchain and transform your business while building on your existing IT and cloud assets.

Neudomains

Neudomains

Neudomains is a Corporate Domain Name Management and Brand Protection Online Specialist. One of the world's top providers of online brand protection and enforcement.

Cloudrise

Cloudrise

Cloudrise are elevating cloud security, data protection, and privacy through assessment, technology enablement, and process automation.

Active Countermeasures

Active Countermeasures

Active Countermeasures believe in giving back to the security community. We do this through free training, thought leadership, and both open source and affordable commercial tools.

Titan Labs

Titan Labs

Titan Labs is a Cyber Security Consultancy that provides advice and technical expertise to government, international finance and telecommunications providers.

Knowledge Lens

Knowledge Lens

Knowledge Lens builds innovative solutions on niche technology areas such as Big Data Analytics, Data Science, Artificial Intelligence, Internet of Things, Augmented Reality, and Blockchain.

IN4 Group

IN4 Group

IN4 Group is a skills, innovation and start-up services provider that specialises in supporting businesses with the training, communities, networks and advice they need to scale.

Palitronica

Palitronica

Palitronica build cutting-edge hardware and breakthrough software that revolutionizes how we defend critical infrastructure and key resources.

Delinea

Delinea

Delinea is a leading provider of cloud-ready privileged access management (PAM) solutions that empower cybersecurity for the modern, hybrid enterprise.

Digistor

Digistor

Digistor is a leading manufacturer of industrial-grade flash storage products, secure storage products, and Removable Secure Data Storage.

Otava

Otava

Otava is a global leader of secure, compliant hybrid cloud and IT solutions for service providers, channel partners and enterprise clients.

Merkle Science

Merkle Science

Merkle Science provides next generation risk mitigation, compliance and forensics for crypto-native businesses, DeFi participants, financial institutions & government agencies.