Rising Production Scale Motivates IBM Watson Services Market Growth in the Coming Years

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Rockville, US,2018-Dec-11 — /EPR Network/ — IBM Watson is considered to be the first-ever commercialized cognitive computing platform, designed specifically for underpinning the development of various enterprise solutions. IBM Watson services continue to tap immense opportunity in the rapidly evolving cognitive computing field, which has been reshaping the nature of business operations, thereby determining their growth. Fact.MR’s recent study projects the IBM Watson services market to record a spectacular rise in the period of forecast (2018-2028). Over US$ 20,000 Mn worth of IBM Watson services are estimated to be sold globally by 2028-end.

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Although cognitive computing is yet at its nascent phase, the technology is expected to have a significant influence on transformation of various businesses and industrial sectors. Leading companies such as Deloitte have joined IBM by investing time, manpower, and funds for implementing Watson technologies, in a bid to effectively resolve their client’s business’ shortcomings.

IBM Watson Services: High Attraction in Healthcare with BFSI on the Trail

IBM Watson’s cognitive computing or AI platform has been reforming the healthcare operations since the recent past. Services offered by IBM Watson facilitate healthcare professionals by screening structure & unstructured data of patients, and recent evidence-based medications, regulatory requirements, and quality standards. IBM Watson has been constructed for churning through ever-growing quantity of research data, thereby promising fast marketing of new drugs.

IBM Watson services are being extensively employed by pharmaceutical companies, academic institutions, and medical devices manufacturers for drug repurposing and new drug target identification. The potential for AI in improving the overall quality and consistency of cancer care, which has enabled physicians in spending more time on delivering care to patients, has paved lucrative opportunities for IBM Watson services in the healthcare sector.

Finance organizations are entering into partnerships with IBM for leveraging the Watson technology in developing effective consumer banking solutions. Post-development of cognitive technologies to deliver consumer insight, IBM Watson has offered services that enable finance firms in managing regulatory and compliance controls. Insurance employees can leverage IBM Watson services in fast determination of the eligibility and percentile of claim that must be paid, thereby making better decisions and gaining better results.

Banking, financial services & insurance (BFSI) is estimated to trail healthcare in terms of IBM Watson services market’s revenue share. Currently, IBM Watson financial services power services apropos of the wealth management industry, financial risk management solutions, and insurance services.

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IBM Watson Facilitating Prevention of Cyber-Attacks

Recent revelation of IBM Watson’s special version, which is designed for preventing cyber-attacks, has gained traction as “language of security”. This cybercrime-fighting and cloud-based software is capable of analyzing research into potential threats for locating suspicious or malicious activity in a computer system. The software has become an effective solution for growing concern of hacks in the digital world.

IBM Watson’s security system holds potential in saving resources spent by an organization on chasing false alarms every year. Combining unique abilities of machine and human intelligence for fighting against advanced cybercrime, IBM Watson is set to witness increased penetration among organizations with data security requirements.

IBM Watson Services Market: Fundamental Shortcomings to Confine Growth Potential

IBM Watson services involve time-intensive laborious training, with the need for experts to feed enormous quantity of well-organized data into the platform for drawing insightful conclusions. Additionally, it can draw conclusions based only on body of data that it has been or being trained on. “Well-organized” requirement is a key challenge confining penetration of IBM Watson services, as unprepared sets of data are typically insufficient.

Another drawback of IBM Watson is its inability to make connections with different corpora, which in turn makes gleaning even basic insights challenging. Training Watson on oncology has been seen to provide no insights on heart disease – a limitation that drastically constrains its deployment in clinical settings.

Table of Content:

  1. Executive Summary
    1.1. Executive Summary
    1.2. IBM Watson Services Market Taxonomy
    1.3. Highlighting Action Area – Wheel of Fortune
  2. Market Introduction
    2.1. Market Definition
    2.2. Digital Neuron for Enterprise
    2.2.1. Disruption on the way
    2.2.2. Cognitive Computing getting mainstream
    2.2.3. IBM Watson Breaking Grounds
    2.3. IBM Watson: The Gap Filled
  3. IBM Watson Services Structure Analysis
    3.1. IBM Watson Evolution
    3.2. IBM Watson Ecosystem
    3.3. IBM Watson Architecture
    3.4. Value Chain Analysis
    3.5. Forecast Factors Analysis
    3.6. Service User Survey
  4. Global IBM Watson Services Market Outlook and Analysis
    4.1. Market Size (2013-2017) and Forecast (2018-2028)
  5. Market Dynamics
    5.1. Drivers
    5.2. Restraints
    5.3. Trends
    5.4. Opportunity

Continued……………..

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