As per the research report titled ‘IBM Watson Services Market Share, Size, Trends, Industry Analysis Report, By Service Type; By End Use ; By Regions; Segment Forecast, 2020 -2027’ available with Market Study Report, IBM Watson services market is anticipated to reach a valuation of USD 16.5 billion by the year 2027.
 

Emergence of advanced technologies such as AI (Artificial Intelligence) and machine learning (ML), rising investments towards cognitive computing, and increasing penetration of cognitive systems, advanced text analytics, data mining, and NLP (natural language processing) solutions across several healthcare facilities for disease diagnosis are propelling the growth of global IBM Watson services market.
 

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For the uninitiated, IBM Watson is a disruptive technology system that facilitates enhanced efficiency as well as agility for businesses. It is a venture by IBM Corporation aimed at capitalizing on lucrative opportunities in areas such as healthcare, analytics, security, and IoT (Internet of Things).
 

Furthermore, escalating demand for collection of patient data in healthcare facilities, emergence of innovative drugs, and technological advancement in healthcare as well as medical devices are stimulating the worldwide IBM Watson services market outlook. However, fragmented and unstructured data generated is expected to hamper the industry expansion during the study period.
 

Based on service type, the market is bifurcated into Watson vision services, Watson speech, Watson data insights, and Watson language.
 

With regards to end-user terrain, global IBM Watson services industry from the media & entertainment segment is predicted to witness considerable expansion through 2027. Increasing adoption of the technology, primarily for sports broadcasts for improved display of highlights are favoring the growth of the segment.
 

Moving on to the regional analysis of the report, global IBM Watson services market is fragmented into Middle East & Africa, Central & South America, Asia-Pacific, Europe, and North America. The country-level bifurcation of the industry comprises of South Africa, Israel, Saudi Arabia, UAE, Argentina, Brazil, Mexico, Indonesia, South Korea, Malaysia, Japan, India, China, Austria, Netherlands, Spain, Italy, United Kingdom, Germany, France, Canada, and U.S.
 

Major players that define the worldwide IBM Watson services industry trends are Datamato Technologies Pvt. Ltd., DXC Technology Limited, Tech Mahindra Limited, KPMG International Limited, Wipro Limited, Capgemini SE, Tata Consultancy Services Limited, Deloitte Touche Tohmatsu Ltd., Accenture PLC, and IBM Corporation.