The global IBM Watson services market size is expected to reach USD 16.5 billion by 2027 according to this new study. The report “IBM Watson Services Market Share, Size, Trends, Industry Analysis Report, By Service Type (Watson Language, Watson Data Insights, Watson Speech, and Watson Vision Services); By End Use (Healthcare, BFSI, Retail, Discrete & Process Manufacturing, Telecom, Media & Entertainment, Transportation & Logistics, Government, Travel & Tourism, Education, and Others); By Regions; Segment Forecast, 2020 -2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The IBM Watson is a disruptive technology which ensures higher efficiency and agility for the enterprises. IBM has been capitalizing on its Watson services to tap potential opportunities in key areas such as internet of things (IoT), security, analytics, and healthcare. IBM Watson services power advertisements for aiding them in generating authentic content, which includes food ingredient-based customized recipe by assessing taste trends of consumers worldwide.
The technology across the world is changing at a rapid pace, with the advent of machine learning and artificial intelligence to take quicker informed decisions by key stakeholders in the industry. Uptake of artificial intelligence and cognitive computing has seen a multitude of interest and venture capital investment, creating a positive narrative of being a next big thing in the future. With the use of natural language processing (NLP), data mining, and advanced text analytics, cognitive systems have been assisting doctors in diagnosing diseases and making faster decisions. They are also optimizing patient selection for clinical trials with intelligence matching.
On an average, an individual utilizes more than 1,100 terabytes of data during a lifetime, around 0.4 being used to keep health-related records in the form of electronic and medical health records, lab results, pathology reports, radiology reports, voice recordings, and insurance claims. Besides, the revolution in the field of medical devices, healthcare facilities, and new types of drugs, the importance of data generated from the patients have been drawing the attention of the related authorities and personnel. However, most of these data are unstructured and fragmented and can create mess when piled up in large volumes.
Approximately 20 per cent of patient accounted for more than 80 per cent of the total healthcare costs. After artificial intelligence and cognitive computing has come into play, the experience of this cross section of patients seems to have changed largely. As of now, IBM’s Watson Care Manager has been managing around 147,000 patients’ care plans worldwide.
Media and entertainment industry has also been influenced by IBM Watson. With the use of IBM Watson in Wimbledon 2017, best shots of the tournament were highlighted by the video editors in very less time, which were unarguably the best shots. Had it been done by the editors manually, it would have taken a great time.
Market participants such as IBM Corporation, DXC technology Limited, Tata Consultancy Services, Capgemini SE, Wipro Limited, KPMG International, Accenture Plc, Deloitte Touche Tohmatsu Ltd., Tech Mahindra limited, Infosys Limited, HCL Limited, Datamato Technologies Private Ltd., and Mainline Information Systems, Inc. are some of the key players operating in the IBM Watson services market.
The publisher has segmented the IBM Watson services market report on the basis of service type, end-use and region
Watson Language Services
Watson Data Insights Services
Watson Speech Services
Watson Vision Services
Healthcare
BFSI
Retail
Discrete & Process Manufacturing
Telecom
Media & Entertainment
Transportation & Logistics
Government
Travel & Tourism
Education
Others
North America
U.S.
Canada
Europe
France
Germany
UK
Italy
Spain
Netherlands
Austria
Asia Pacific
China
India
Japan
Malaysia
South Korea
Indonesia
Central & South America
Mexico
Brazil
Argentina
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
The technology across the world is changing at a rapid pace, with the advent of machine learning and artificial intelligence to take quicker informed decisions by key stakeholders in the industry. Uptake of artificial intelligence and cognitive computing has seen a multitude of interest and venture capital investment, creating a positive narrative of being a next big thing in the future. With the use of natural language processing (NLP), data mining, and advanced text analytics, cognitive systems have been assisting doctors in diagnosing diseases and making faster decisions. They are also optimizing patient selection for clinical trials with intelligence matching.
On an average, an individual utilizes more than 1,100 terabytes of data during a lifetime, around 0.4 being used to keep health-related records in the form of electronic and medical health records, lab results, pathology reports, radiology reports, voice recordings, and insurance claims. Besides, the revolution in the field of medical devices, healthcare facilities, and new types of drugs, the importance of data generated from the patients have been drawing the attention of the related authorities and personnel. However, most of these data are unstructured and fragmented and can create mess when piled up in large volumes.
Approximately 20 per cent of patient accounted for more than 80 per cent of the total healthcare costs. After artificial intelligence and cognitive computing has come into play, the experience of this cross section of patients seems to have changed largely. As of now, IBM’s Watson Care Manager has been managing around 147,000 patients’ care plans worldwide.
Media and entertainment industry has also been influenced by IBM Watson. With the use of IBM Watson in Wimbledon 2017, best shots of the tournament were highlighted by the video editors in very less time, which were unarguably the best shots. Had it been done by the editors manually, it would have taken a great time.
Market participants such as IBM Corporation, DXC technology Limited, Tata Consultancy Services, Capgemini SE, Wipro Limited, KPMG International, Accenture Plc, Deloitte Touche Tohmatsu Ltd., Tech Mahindra limited, Infosys Limited, HCL Limited, Datamato Technologies Private Ltd., and Mainline Information Systems, Inc. are some of the key players operating in the IBM Watson services market.
The publisher has segmented the IBM Watson services market report on the basis of service type, end-use and region
IBM Watson Services, Service Type Outlook (Revenue-USD Million, 2016-2027)
Watson Language Services
Watson Data Insights Services
Watson Speech Services
Watson Vision Services
IBM Watson Services Devices End Use Outlook (Revenue-USD Million, 2016-2027)
Healthcare
BFSI
Retail
Discrete & Process Manufacturing
Telecom
Media & Entertainment
Transportation & Logistics
Government
Travel & Tourism
Education
Others
IBM Watson Services Regional Outlook (Revenue-USD Million, 2016-2027)
North America
U.S.
Canada
Europe
France
Germany
UK
Italy
Spain
Netherlands
Austria
Asia Pacific
China
India
Japan
Malaysia
South Korea
Indonesia
Central & South America
Mexico
Brazil
Argentina
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Frequently Asked Questions about the IBM Watson Services Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 103 |
| Published | July 2020 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 1992.7 Million |
| Forecasted Market Value ( USD | $ 16500 Million |
| Compound Annual Growth Rate | 35.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. IBM Watson Services Market Insights
5. IBM Watson Services Market Assessment by Service Type
6. Global IBM Watson Services Market, by End Use
7. IBM Watson Services Market Assessment by Geography
8. Chapter 8. Competitive Landscape
9. Chapter 9. Company Profiles
List of Tables
List of Figures
Companies Mentioned
- IBM Corporation
- DXC technology Limited
- Tata Consultancy Services
- Capgemini SE
- Wipro Limited
- KPMG International
- Accenture Plc
- Deloitte Touche Tohmatsu Ltd.
- Tech Mahindra limited
- Infosys Limited
- HCL Limited
- Datamato Technologies Private Ltd.
- Mainline Information Systems Inc.
