Sales Of IBM Watson Services Are Projected To Increase At A CAGR Of Over 30% By 2031

The latest industry analysis on IBM Watson Services provides sales outlook in 20+ countries, across key categories Product, Application, Sales Channel. Insights on IBM Watson Services market drivers, trends, and influencing factors are also included in the study.

The detailed research report on the global (IBM Watson Services) market focuses on the macro as well as microeconomic factors that are helping its development. The report also concentrates on the regulatory framework that is shaping the future of the global market. Furthermore, the research report also makes not of the existing as well as prevailing pricing structure, emerging areas of applications, and imminent investment opportunities in the global market.

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The IBM Watson Services study outlines the key regions – North America, Latin America, Europe and East Asia – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin.

Key Takeaways from 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.
  • Apart from SaaS natured commercialization 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.

According to a Fact.MR, analyst, “healthcare and BFSI are pioneer sectors for IBM Watson service adoption due to their real-time data processing attributes,”

Competitive Landscape

Majority of companies considered in the report lean towards both, organic and inorganic growth strategies. Moreover, prominent players are interested in acquisitions, collaborations, and product innovation, along with providing the option of customized services to clients.

Some of the key developments are:

  • Year 2020: In January, IBM and Salesforce partnered to integrate IBM Cloud, Watson Services; and Salesforce Quip and Services Cloud Einstein.
  • Year 2019: In February, the company and Unity partnered to launch the IBM Watson Unity SDK.
  • Year 2018: Contracts/Agreements; In January, the company collaborate to sign a MoU with Faurecia recreate product and services for connected and autonomous vehicles.
  •  Year 2018: Contracts/Agreements; In January, TCS was selected by Modell’s Sporting Goods, to deploy TCS OmniStore Unified Store Commerce suite, for its store transformation and deliver an omnichannel experience to its customers.
  • Year 2018: Contracts/Agreements; In January, TCS entered into a partnership with Transamerica, to transform its insurance and annuities administration.
  • Year 2018: In February, the company announced that its TCS BaNCS product deployed again by IDBI Capital Markets and Securities on the Apple watch.

Similarly, recent developments related to companies offering IBM Watson services have been tracked by the team at Fact.MR, which are available in the full report.

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Report Benefits & Key Questions Answered

  • IBM Watson Services Company & brand share analysis: Company and brand share analysis on IBM Watson Services reveals how much market share is captured by Tier 1, Tier 2, and Tier 3 players
  • IBM Watson Services Historical volume analysis: The industry analysis provides data & insights on historical volume sales of IBM Watson Services
  • IBM Watson Services Category & segment level analysis: Fact.MR’s IBM Watson Services sales outlook offers category and segment level analysis on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
  • IBM Watson Services Consumption by demographics: The market intelligence study provides consumption by demographics analysis so market players can design their product and marketing strategies on the basis of high-value consumers
  • Post COVID consumer spending on IBM Watson Services: The report includes post COVID consumer spending analysis. This information will help business leads understand the shifts in purchasing power and behavior
  • Manufacturing trend analysis: Vital information on how market players are aligning their manufacturing strategies with respect to evolving consumer sentiments

What insights does the IBM Watson Services report provide to the readers?

  • IBM Watson Services fragmentation on the basis of product type, end use, and region.
  • Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
  • Collaborations, R&D projects, acquisitions, and product launches of each IBM Watson Services
  • Various regulations imposed by the governments on the consumption of IBM Watson Services in detail.

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Segments Covered in IBM Watson Services Market Analysis

  • By Service
    • IBM Watson Language Services
      •  Consulting
      •  Implementation
        •  Integration Services
        •  Custom Application Development
        •  Application Modernization & Data Migration
        •  Testing Services
      •  Support
        •  Monitoring
        •  Upgrade
        •  Helpdesk
        •  Governance
        •  Training
    •  IBM Watson Data Insights Services
      •  Consulting
      •  Implementation
      •  Support
    •  IBM Watson Speech Services
      •  Consulting
      •  Implementation
      •  Support
    •  IBM Watson Vision Services
      •  Consulting
      •  Implementation
      •  Support
  • By Vertical
    • IBM Watson Services for Healthcare
    • IBM Watson Services for BFSI
    • IBM Watson Services for Retail
    • IBM Watson Services for Discrete & Process Manufacturing
    • IBM Watson Services for Telecom, Media & Entertainment
    • IBM Watson Services for Transportation and Logistics
    • IBM Watson Services for Governments
    • IBM Watson Services for Travel and Tourism
    • IBM Watson Services for Education
    • Others

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