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
Check Point
Cyrin

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

Sign Up: Cyber Security Intelligence Newsletter

Directory of Suppliers

The PC Support Group

The PC Support Group

A partnership with The PC Support Group delivers improved productivity, reduced costs and protects your business through exceptional IT, telecoms and cybersecurity services.

Alvacomm

Alvacomm

Alvacomm offers holistic VIP cybersecurity services, providing comprehensive protection against cyber threats. Our solutions include risk assessment, threat detection, incident response.

CYRIN

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

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.

Qualitest Group

Qualitest Group

Qualitest is the world’s largest pure play Quality Assurance and software testing company.

Kernelios

Kernelios

Kernelios is a simulator-based training center and an incubator for cyber experts worldwide.

Cyber Risk Agency

Cyber Risk Agency

Cyber Risk Agency is a cybersecurity consulting firm specializing in managing cyber risks for SMEs.

Decision Group

Decision Group

Decision Group are a Total Solution Supplier offering Network Forensics and Lawful Interception tools.

Cyber DriveWare

Cyber DriveWare

DriveWare analyzes new traffic in the I/O layer and blocks malware and cyber attacks which organizations have no means to protect against.

Innotec Security

Innotec Security

Innotec Security is a Spanish company specializing in cybersecurity-as-a-service, cyber resilience and cyber risk management.

Zamna

Zamna

Zamna (formerly VChain Technology) is an award-winning software company building GDPR compliant identity platforms for the aviation industry.

Allthenticate

Allthenticate

Allthenticate Single Device Authentication (SDA), enables seamless authentication in both the physical and digital words while unifying management in one easy-to-use interface.

Peraton

Peraton

Peraton provides innovative solutions for the most sensitive and critical programs in government today, developed and executed by scientists, engineers, and other experts.

DeVry University - Cyber Security Degree

DeVry University - Cyber Security Degree

Explore the dynamic world of data protection with a hybrid or online cyber security degree specialization with DeVry's IT & Networking Bachelor's Degree.

Qascom

Qascom

Qascom is an engineering company offering security solutions in satellite navigation and space cybersecurity. We are one of the European key players in GNSS authentication and security.

FourthRev

FourthRev

FourthRev is an education-technology start-up with a mission to solve the skills crisis of the Fourth Industrial Revolution.

Qevlar AI

Qevlar AI

Qevlar AI empowers SOC teams, to eliminate redundant tasks and refocus on what truly matters - making the most of every employee within the SecOps team.

Technoware Solutions

Technoware Solutions

Technoware Solutions is a global company committed to helping entities navigate the digital waters of modernizing their system processes in an ever changing cybersecurity landscape.

Codezero Technologies

Codezero Technologies

Codezero is at the forefront of microservices development, employing an identity-aware overlay network that delivers zero-trust security to DevOps.

eGyanamTech (EGT)

eGyanamTech (EGT)

eGyanamTech provides robust security solutions tailored for Operational Technology (OT) and Supervisory Control and Data Acquisition (SCADA) systems used in critical infrastructure systems.