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Oct 10, 2022 (Alliance News via COMTEX) -- Quadintel's recent global IBM Watson Services market research report gives detailed facts with consideration to market size, cost revenue, trends, growth, capacity, and forecast till 2030. In addition, it includes an in-depth analysis of This market, including key factors impacting the market growth.
The global IBM Watson Services market is anticipated to grow at a CAGR of around 32.5% over the period of next 5 years.
This study offers information for creating plans to increase the market’s growth and effectiveness and is a comprehensive quantitative survey of the market.
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For industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders searching for vital industry data in easily accessible documents with clearly presented tables and graphs, the research contains historical data from 2017 to 2020 and predictions through 2030.
A component of IBM Corporation, The IBM Watson is a cognitive computing platform which aids in efficiency and agility of businesses by incorporating AI and other related technologies with advanced hypothesis generation and analytical algorithms.
It integrates various cognitive techniques for facilitating construction of software by crafting dialogues and defining intents for simulating conversion. These services are employed for processing insights, relationships and patterns across un-structured images, social media, emails and others.
The Watson introduced to shape businesses more intelligent; is delivered as a Software-as-a-Service on cloud and can be called by its clients using a small code snippet embedded in their system.
The growth of this market is attributed towards major relying factors including the proliferating usage ofIBM Watson servicesin healthcare & analytics across various regions, the growing demand for cognitive insight & digital technology globally and the rising number of technological advancements in healthcare as well as medical devices substantially etc.
Additionally, the advent of technologies such as machine learning, artificial intelligence, cognitive computing, natural language processing (NLP), data mining, and advanced text analytics have changed the whole working scenario of the healthcare industry. From quicker decision making, assisting in disease diagnosis, optimizing patient selection for clinical trials with intelligence matching, screening of patients? structured & unstructured data, fast marketing of new drug, the technological platforms of IBM Watson have been effectively aiding in the operations of healthcare sector over the past few years, which is thereby opening enormous growth opportunities for the market players existing in the market and eventually assisting in the growth of the overall market considerably.
Moreover, IBM Watson Services are also in extensive use in the media and entertainment industry since the last years and is contributing in the fueling of the market growth comprehensively.
Furthermore, other factors such as the effective and process downtime features of IBM Watson, the proliferating demand for collection of patient data in healthcare facilities, the rapid emergence of innovative drugs, the growing revolution in the field of medical devices & healthcare facilities and the increasing importance of data generated from the patients further augment the growth of the market.
However, few factors pertaining to IBM Watson Services such as the lack of trained professionals, the unstructured and fragmented data structuring technology, the imperfections in AI methodologies, their inability of making connections with different corpora, language issues, concerns relating to maintenance, the high switching cost and time-intensiveness involved in installation and training of the process are major barriers which hamper the growth of this market.
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IBM WATSON SERVICES MARKET SEGMENTATION:
Watson Knowledge Catalog
Watson AI Assistant
Watson IoT Platform
Watson Speech to Text (STT)
Watson Text to Speech (TTS)
Watson Language Services
Watson Visual Recognition
Watson Tone Analyzer
Watson Personality Insights
Watson Data Refinery
Watson Machine Learning
Watson Deep Learning
Watson Compare and Comply
By End User Industry:
Discrete & Process Manufacturing
Media & Entertainment
Transportation & Logistics
Travel & Tourism
Middle East & Africa
The North America region followed by the European region holds the largest share in the IBM Watson Services market. The region is also expected to bolster tremendous growth in the upcoming years owing to factors such as the introduction of the Watson development platform in region by IBM for various purposes, the acquisition of a leading digital marketing & creative agency based in the U.S., Resource/Ammirati by IBM with a goal to create transformative brand experiences, the surging application of IBM Watson APIs for providing interactive mobile experiences to consumers in the region and the successful development of the production capacities of industries by these services in the region etc. The major contributors to the region include U.S and Canada.
The Asia Pacific region is the fastest growing regional market for IBM Watson Services in the world and is projected to also grow robustly in the upcoming years as well. The growth in the region can be attributed to factors such as the growing adoption of technologies such as blockchain, cognitive computing and others in various industries for assisting in commercialization and rapid prototyping of the client?s solutions in the region and the expansion of IBM?s headquarters in the major economies of this region etc. Japan, South Korea, India and China are the major contributors to this region?s growth.
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FEW KEY PLAYERS IN IBM WATSON SERVICES MARKET:
KPMG International Limited
Tata Consultancy Services Limited
Datamato Technologies Private Ltd.
Mainline Information Systems Inc.
DXC Technology Limited Accenture Plc
Deloitte Touche Tohmatsu Ltd.
Tech Mahindra limited
In February 2021, Humana Inc. and IBM Watson Health announced a collaboration leveraging IBM?s conversational artificial intelligence (AI) solution to help provide a better member experience while providing greater clarity and transparency on benefits and other related matters for Humana Employer Group members. As part of the agreement, Humana will deploy IBM Watson Assistant for Health Benefits, an AI-enabled virtual assistant built in the IBM Watson Health cloud.
In February 2021, IBM and Palantir Technologies announced a new partnership consisting of IBM?s hybrid cloud data platform designed to deliver AI for business, with Palantir?s next generation operations platform for building applications. The product is expected to simplify how businesses build and deploy AI-infused applications with IBM Watson and help users access, analyze, and take action on the vast amounts of data that is scattered across hybrid cloud environments without the need for deep technical skills. The new product, Palantir for IBM Cloud Pak for Data, is planned to be mace available in March of 2021.
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A new technical paper titled “On-Device Training Under 256KB Memory” was published by researchers at MIT and MIT-IBM Watson AI Lab.
“Our study enables IoT devices to not only perform inference but also continuously update the AI models to newly collected data, paving the way for lifelong on-device learning. The low resource utilization makes deep learning more accessible and can have a broader reach, especially for low-power edge devices,” said senior author Song Han in this MIT news article.
“On-device training enables the model to adapt to new data collected from the sensors by fine-tuning a pre-trained model. However, the training memory consumption is prohibitive for IoT devices that have tiny memory resources. We propose an algorithm-system co-design framework to make on-device training possible with only 256KB of memory. On-device training faces two unique challenges: (1) the quantized graphs of neural networks are hard to optimize due to mixed bit-precision and the lack of normalization; (2) the limited hardware resource (memory and computation) does not allow full backward computation. To cope with the optimization difficulty, we propose Quantization-Aware Scaling to calibrate the gradient scales and stabilize quantized training. To reduce the memory footprint, we propose Sparse Update to skip the gradient computation of less important layers and sub-tensors. The algorithm innovation is implemented by a lightweight training system, Tiny Training Engine, which prunes the backward computation graph to support sparse updates and offloads the runtime auto-differentiation to compile time. Our framework is the first practical solution for on-device transfer learning of visual recognition on tiny IoT devices (e.g., a microcontroller with only 256KB SRAM), using less than 1/100 of the memory of existing frameworks while matching the accuracy of cloud training+edge deployment for the tinyML application VWW. Our study enables IoT devices to not only perform inference but also continuously adapt to new data for on-device lifelong learning.”
Find the technical paper here. Published July 2022.
National Science Foundation, the MIT-IBM Watson AI Lab, the MIT AI Hardware Program, Amazon, Intel, Qualcomm, Ford Motor Company, and Google funded this research.
Authors: Ji Lin, Ligeng Zhu, Wei-Ming Chen, Wei-Chen Wang, Chuang Gan, Song Han. arXiv:2206.15472v2
Using AI To Speed Up Edge Computing
Optimizing a system’s behavior can Improve PPA and extend its useful lifetime.
Why TinyML Is Such A Big Deal
Surprisingly, not everything requires lots of compute power to make important decisions.
Edge Computing Knowledge Center
The MarketWatch News Department was not involved in the creation of this content.
Oct 14, 2022 (The Expresswire) -- Global “Multi-Vendor IT Support Services Market” (2022-2028) research report offers insight into the trending demand, size, share, global trends and the future growth of the industry for a length. This report gives a complete analysis of different segments on the basis of type, application, key holders and region. The report outlines the market characteristics and methodology, and market growth Multi-Vendor IT Support Services industry, categorized by type, application, and consumer sector. In addition, it provides a comprehensive analysis of aspects involved in market development before and after the Covid-19 pandemic.
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Market Analysis: Global Multi-Vendor IT Support Services Market
Due to the COVID-19 pandemic, the global Multi-Vendor IT Support Services market size is estimated to be worth USD million in 2021 and is forecast to a readjusted size of USD million by 2028 with a CAGR of % during the forecast period 2022-2028. Fully considering the economic change by this health crisis, the Europe Multi-Vendor IT Support Services market is estimated at USD million in 2022, while the United States and China are forecast to reach USD million and USD million by 2028, respectively. The proportion of the United States is % in 2022, while Chinese percentage is %, and it is predicted that China market share will reach in 2028, trailing a CAGR of % through the analysis period. As for the Europe Multi-Vendor IT Support Services landscape, Germany is projected to reach USD million by 2028. and in Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.
Below Grit accounting for % of the Multi-Vendor IT Support Services global market in 2021, is projected to value USD million by 2028, growing at a revised % CAGR from 2022 to 2028. While Concrete segment is altered to an % CAGR throughout this forecast period and will hold a share about % in 2028.
This report focuses on Multi-Vendor IT Support Services volume and value at the global level, regional level, and company level. From a global perspective, this report represents overall Multi-Vendor IT Support Services market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan, etc.
The Global Multi-Vendor IT Support Services market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2028. In 2021, the market is growing at a constant rate and with the rising acquisition of strategies by leading players, the market is expected to rise over the projected horizon.
Final Report will add the analysis of the impact of COVID-19 on this industry.
According to our latest study, due to COVID-19 pandemic, the global Multi-Vendor IT Support Services market size is estimated to be worth in 2021 and is forecast to a readjusted size by 2028 during review period. Online Sales accounting the Multi-Vendor IT Support Services global market in 2021, is projected to value by 2028, growing in next six years. While Multi-Vendor IT Support Services segment is altered between 2022 and 2028.
Moreover, it helps new businesses perform a positive assessment of their business plans because it covers a range of courses market participants must be aware of to remain competitive.
Report covers Impact of Coronavirus COVID-19: Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Multi-Vendor IT Support Services market in 2021. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor/outdoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.
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Multi-Vendor IT Support Services Market - Competitive and Segmentation Analysis:
Furthermore, providing an overview of successful top marketing strategies, industry opportunities, contributions, and recent developments of top leading companies, the report also offers a complete overview of leading companies' past and present performance. Several methodologies and analyses are used in the research report to provide in-depth and accurate information about the Multi-Vendor IT Support Services Market
Key Indicators Analyzed● Market Players and Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin and Sales by Product Types. ● Global and Regional Market Analysis: The report includes Global and Regional market status and outlook 2022-2028. Further the report provides break down details about each region and countries covered in the report. Identifying its production, consumption, import and export, sales volume and revenue forecast. ● Market Analysis by Product Type: The report covers majority Product Types in the Multi-Vendor IT Support Services Industry, including its product specifications by each key player, volume, sales by Volume and Value (USD). ● Market Analysis by Application Type: Based on the Multi-Vendor IT Support Services Industry and its applications, the market is further sub-segmented into several major Application of its industry. It provides you with the market size, CAGR and forecast by each industry applications. ● Market Trends: Market key trends which include Increased Competition and Continuous Innovations. ● Opportunities and Drivers: Identifying the Growing Demands and New Technology ● Porters Five Force Analysis: The report will provide with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.
Competitive Landscape and Multi-Vendor IT Support Services Market Share Analysis
The Multi-Vendor IT Support Services market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the Multi-Vendor IT Support Services market.
List of TOP KEY PLAYERS in Multi-Vendor IT Support Services Market Report are -
● Park Place
The Multi-Vendor IT Support Services Market is Segmented by Types:
● Hardware Support Services
● Software Support Services
The Multi-Vendor IT Support Services Market is Segmented by Applications:
● Sales and Marketing
● Financial and Accounting
● Supply Chain
● IT Operations
Research Methodology: Global Multi-Vendor IT Support Services Market:
Multi-Vendor IT Support Services collection and base year analysis is done using Multi-Vendor IT Support Services modules with large trial sizes. The market data is analyzed and estimated using Multi-Vendor IT Support Services market statistical and logical models. Also market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used in research team is data split which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor position grid, time analysis, overview of the industry, Multi-Vendor IT Support Services share and trends analysis.
Multi-Vendor IT Support Services Market Technology Analysis:
In the global coronavirus pandemic, remote working had been introduced as a trend. But with the various virus variants and waves hitting the global locations, remote working has become a necessity to keep up with the trends and maintain a proper flow of the supply chain and production mechanism. With the rising investment in the research and development department and activities, the Multi-Vendor IT Support Services solutions are acting as an efficient resource that goes easy on formatting. To collaborate motivation with efficiency and personal goals with the organizational Multi-Vendor IT Support Services industry objectives, the Multi-Vendor IT Support Services market size is implementing strategies so that there is a feeling of belongingness and recognition integrated with the push and need to come up with comprehensive ideas for the global growth of the market during the forecast period that ends in the year 2028.
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Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Multi-Vendor IT Support Services in these regions, from 2021 to 2027, covering● North America (United States, Canada and Mexico) ● Europe (Germany, UK, France, Italy, Russia and Turkey etc.) ● Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam) ● South America (Brazil, Argentina, Columbia etc.) ● Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Global Multi-Vendor IT Support Services Market Regional Analysis
Geographically, the global Multi-Vendor IT Support Services Market is segmented into North America, Europe, South America, Europe, Asia Pacific and the Middle East and Africa. Research has a leading market share of in 2019. The market volume of Multi-Vendor IT Support Services in Southeast Asia is largely connected to downstream demand.
The objective of the report is to present a comprehensive analysis of the Global Multi-Vendor IT Support Services Market including all the stakeholders of the Multi-Vendor IT Support Services industry. The past and current status of the industry with forecasted market share, size and recent and future trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the marketing 4.0 industry with a dedicated study of key players that includes industry top leading players, new consumers, shareholders.
However, the potential startups that are still in the development phase are struggling with the trends and changes introduced by the pandemic. Also, low investments and lack of availability of capital are barring them to seek Multi-Vendor IT Support Services solutions and implement them across various verticals for enhanced functioning of different departments and sections. This is likely to present major market restraints during the forecast period that ends in 2028.
Key Reasons to Buy this Report:● Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change ● This enables you to anticipate Multi-Vendor IT Support Services market changes to remain ahead of your competitors ● You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents ● The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly ● Provision of Multi-Vendor IT Support Services market value (data) for each segment and sub-segment ● Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market ● Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region ● Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled ● Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
This Multi-Vendor IT Support Services Market Research/Analysis Report Contains Answers to your following Questions● Which Manufacturing Technology is used for Multi-Vendor IT Support Services? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments? ● Who Are the Global Key Players in This Multi-Vendor IT Support Services Market? What are Their Company Profile, Their Product Information, and Contact Information? ● What Was Global Market Status of Multi-Vendor IT Support Services Market? What Was Capacity, Production Value, Cost and PROFIT of Multi-Vendor IT Support Services Market? ● What Is Current Market Status of Multi-Vendor IT Support Services Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Multi-Vendor IT Support Services Market by Taking Applications and Types in Consideration? ● What Are Projections of Global Multi-Vendor IT Support Services Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export? ● What Is Multi-Vendor IT Support Services Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
An exhaustive and professional study of the global Multi-Vendor IT Support Services market report has been completed by industry professionals and presented in the most particular manner to present only the details that matter the most. The report mainly focuses on the most dynamic information of the global market.
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Major Points from Table of Contents:
1 Multi-Vendor IT Support Services Market Overview
1.1 Multi-Vendor IT Support Services Product Scope
1.2 Multi-Vendor IT Support Services Segment by Type
1.3 Multi-Vendor IT Support Services Segment by Application
1.4 Multi-Vendor IT Support Services Market Estimates and Forecasts (2017-2028)
2 Multi-Vendor IT Support Services Estimates and Forecasts by Region
2.1 Global Multi-Vendor IT Support Services Market Size by Region: 2017 VS 2021 VS 2028
2.2 Global Multi-Vendor IT Support Services Market Scenario by Region (2017-2021)
2.3 Global Market Estimates and Forecasts by Region (2022-2028)
2.4 Geographic Market Analysis: Market Facts and Figures
3 Global Multi-Vendor IT Support Services Competition Landscape by Players
3.1 Global Top Multi-Vendor IT Support Services Players by Sales (2017-2021)
3.2 Global Top Multi-Vendor IT Support Services Players by Revenue (2017-2021)
3.3 Global Multi-Vendor IT Support Services Market Share by Company Type (Tier 1, Tier 2 and Tier 3) and (based on the Revenue in Multi-Vendor IT Support Services as of 2020)
3.4 Global Multi-Vendor IT Support Services Average Price by Company (2017-2021)
3.5 Manufacturers Multi-Vendor IT Support Services Manufacturing Sites, Area Served, Product Type
3.6 Manufacturers Mergers and Acquisitions, Expansion Plans
4 Global Multi-Vendor IT Support Services Market Size by Type
4.1 Global Multi-Vendor IT Support Services Historic Market Review by Type (2017-2021)
4.2 Global Market Estimates and Forecasts by Type (2022-2028)
4.2.3 Global Price Forecast by Type (2022-2028)
5 Global Multi-Vendor IT Support Services Market Size by Application
5.1 Global Multi-Vendor IT Support Services Historic Market Review by Application (2017-2021)
5.2 Global Market Estimates and Forecasts by Application (2022-2028)
6 North America Multi-Vendor IT Support Services Market Facts and Figures
6.1 North America Multi-Vendor IT Support Services by Company
6.2 North America Multi-Vendor IT Support Services Breakdown by Type
6.3 North America Multi-Vendor IT Support Services Breakdown by Application
7 Europe Multi-Vendor IT Support Services Market Facts and Figures
8 China Multi-Vendor IT Support Services Market Facts and Figures
9 Japan Multi-Vendor IT Support Services Market Facts and Figures
10 Southeast Asia Multi-Vendor IT Support Services Market Facts and Figures
11 India Multi-Vendor IT Support Services Market Facts and Figures
12 Company Profiles and Key Figures in Multi-Vendor IT Support Services Business
13 Multi-Vendor IT Support Services Manufacturing Cost Analysis
13.1 Multi-Vendor IT Support Services Key Raw Materials Analysis
13.1.1 Key Raw Materials
13.1.2 Key Raw Materials Price Trend
13.1.3 Key Suppliers of Raw Materials
13.2 Proportion of Manufacturing Cost Structure
13.3 Manufacturing Process Analysis of Multi-Vendor IT Support Services
13.4 Multi-Vendor IT Support Services Industrial Chain Analysis
14 Marketing Channel, Distributors and Customers
14.1 Marketing Channel
14.2 Multi-Vendor IT Support Services Distributors List
14.3 Multi-Vendor IT Support Services Customers
15 Market Dynamics
15.1 Multi-Vendor IT Support Services Market Trends
15.2 Multi-Vendor IT Support Services Drivers
15.3 Multi-Vendor IT Support Services Market Challenges
15.4 Multi-Vendor IT Support Services Market Restraints
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Founded in 1911 as a Computing-Tabulating-Recording Company, International Business Machines (IBM) needs to keep its finger on the pulse of the development of information technology not to be ousted by younger tech giants like Google, Microsoft, Apple, and Amazon. With the advent of the internet, IBM needed to widen the spectrum of its products and services to retain its strong position in the tech field. Although the company lost its dominance, having only a 5% market share in 2021, as opposed to 68% shared by Microsoft, Amazon, and Google, it has many spectacular achievements to its credit. IBM holds more patents than any other technology company and takes pride in employees who have earned five Nobel Prizes, four Turing Awards, five National Medals of Technology, and five National Medals of Science. And it had been the top tech company for longer than any of the titans dominating the market now.
Also called “Big Blue,” IBM indeed has an impressive pedigree. After starting to produce hardware at the beginning of the last century, it thrived in this business for decades and became the leading supplier of mainframe computers worldwide. IBM’s gross income had inexorably grown in the last part of the twentieth century, expanding from $14.450 billion earned in 1975 to $71.940 billion made in 1995. The company’s revenue skyrocketed to the record level of $106.9 billion in 2011, after which it has steadily been declining amidst its transition into new technologies and lines of business. To move with the times and survive the competition from other tech titans, IBM gradually shifted its focus from hardware to software and services. It began to devote more energy and money to cloud-based services and cognitive computing. IBM focuses now on offering primarily network services, application services, cloud services, digital workplace services, business processes and operations, technology consulting services, and AI services. IBM Watson, a cognitive system capable of answering questions posed in natural language, has become the company’s high-visibility offering in the technology field. IBM has a strong faith in Watson, promoting the system as a benevolent digital assistant that would help hospitals, offices, factories, and farms. The company’s white paper referred to Watson as “the future of knowing.”
To see how well IBM has prepared for, what it calls, the new age of understanding, study the statistical data presented below.
Sources: IBM, Wikipedia
Once an unparalleled tech giant, IBM has been struggling for the last decade. It had to adjust to the changing world by selling its low-margin businesses and investing in high-margin ones. To implement its strategies, Big Blue sold IBM WebSphere Commerce to HCL Technologies in 2018 and a part of the Watson Health business at the beginning of this year. Although IBM’s earnings are still high, they do not reach the levels hit between 2006 and 2012. The company’s annual revenue skyrocketed to $106.9 billion in 2011, whereas it was only $57 billion last year. In the second quarter of 2022, IBM’s earnings dropped below expectations. IBM’s falling fortune is reflected in the table below:
IBM’s Annual Revenue since 2000 (in $US Billion)
|Year||Annual Revenue (in $US Billion)|
|2022 (Q1; Q2)||$14.2 billion; $15.5 billion|
Source: Statista; IBM
Big Blue has repeatedly changed the segment reporting to reflect its move away from being hardware, software, and service company towards becoming a cognitive solutions and cloud platform company. It changed its segment reporting in 2016, 2019, and 2021. The last change was dictated by IBM’s need to align its segment reporting with its platform-centric approach to hybrid cloud and AI. There are presently six segments in IBM’s business: Technology Services and Cloud Platforms, Infrastructure, Software, Consulting, Financing, and Other. In 2021, IBM’s software segment generated $24.14 billion of its global revenue of $57.35 billion. In 2022 so far, the Software division earned $5.77 billion and $6.2 billion, in the first and second quarters, respectively. The Consulting sector brought the company $4.83 billion in Q1 and $4.8 billion in Q2 of the current year. The revenue earned by the Infrastructure segment amounted to $3.22 billion in the first quarter and $4.0 billion in the second quarter. Revenues generated by IBM’s segments in the last two years are shown in the table below:
IBM’s Annual Revenue by Segment for 2020-2021 (in $US billion)
|Technology Services and Cloud||$25.00||$28.00|
In the second quarter of 2022, IBM’s Cloud Infrastructure had only a 4% share of the worldwide market, lagging behind Amazon, Azure, and Google Cloud. The spending on global cloud infrastructure services soared to $55 billion and thus brought the industry’s total for the twelve months to more than $203.5 billion. Outshining IBM, Amazon and Microsoft together accounted for more than half of cloud infrastructure revenues in the three months that ended on June 30.
These figures show how much Big Blue fell from grace because, in the past, it used to enjoy the leading position. In 2017, IBM reported cloud revenue growth of 33% year-over-year in its first quarter earnings. In that quarter, its cloud revenue jumped to $3.5 billion. IBM’s total cloud revenue over the past 12 months that year hit $41.6 billion and catapulted IBM to the top of the list in the field of enterprise cloud. In the first quarter of 2017, today’s winners were obliged only to trail behind with lower earnings: Microsoft with $14 billion, Amazon with $12.20 billion, and Google with $10 billion. The latest market share of the main providers of cloud infrastructure can be seen in the table below:
Worldwide Market Share of Cloud Infrastructure Providers in Q2 2022
Sources: Statista, IBM
Net income is defined as a company’s net profit or loss after it has accounted for all its revenues, income items, and expenses. IBM’s net income for the quarter ending on June 30, 2022, was $1.292 billion, which constituted a 5.06% jump year-over-year. The company’s net profit for the 12 months ending on June 30, 2022, was $5.588 billion, demonstrating an increase of 4.76% year-over-year. Last year, IBM’s annual net income reached $5.743 billion, a 2.74% surge from 2020. The first year of the pandemic brought IBM a net income of $5.59 billion, which was a whopping 40.73% drop from 2019. In 2019, IBM’s annual net profit was $9.431 billion, an 8.05% advance from 2018. The uneven trajectory of IBM’s annual net income is drawn in the table below:
IBM’s Annual Net Income since 2009 (in $US Billion)
|Year||Net Income in $US Billion|
IBM is the fifth largest employer in the United States. In 2021, the company employed 282,000 people worldwide. This year, the number of people working for Big Blue dipped to 245,000. As the company has lately been struggling, experiencing drops in its revenues, it is trying to restructure its business and be on par with such tech giants as Amazon, Microsoft, Google, and Apple. Hence the decline in the number of its employees this year. The table below shows how the number of IBM’s employees has changed over the years:
IBM’s Number of Employees Worldwide from 2000 to 2022 (in 1,000s)
|Year||Number of Employees (in 1,000s)|
As the world is facing a probable recession, analysts believe that the enterprise tech sector will still continue going strong. People who are tech-savvy will turn to IBM in these unpleasant times to help them survive in a tighter economic environment and use the company’s software, consulting, and infrastructure to work productively during an economic decline. Big Blue can definitely provide the products and services people will need in the near future. IBM’s Q2 2022 results signify that technology spending in such spheres as AI, cloud, automation and networking is steady. The company beat anticipated results in the second quarter and boasted its first double-digit quarterly revenue growth in more than a decade. Automatic calculations conducted at Coinpriceforecast.com inspire faith in the company’s future and the cost of its stock. At the beginning of the year, IBM’s stock price was $116.92. At the time of writing, IBM is trading at $118.81, thus demonstrating a 2% jump from January 2022. Coinpriceforecast.com foresees that by Christmas, IBM will surge to $138. In the first half of 2023, the price of the stock might advance to $145 and end the next year at $155, adding 30% to today’s price. Whether or not these predictions prove to be correct, IBM will surely continue pushing technology and innovation forward, as it has spectacularly done since the beginning of the twentieth century.
‘I want to increase the number of clients, also, not just wallet share,’ IBM CEO Arvind Krishna says at The Channel Company’s Best of Breed conference in Atlanta. ‘That means that we need your help. We are not going to go there directly at all.’
Under Arvind Krishna’s watch, IBM has decreased the number of direct customers from about 5,000 in 2020 to about 400, the CEO told a crowd Monday. And the tech giant plans to leave potential new clients to partners.
“I want to increase the number of clients, also, not just wallet share,” Krishna said. “That means that we need your help. We are not going to go there directly at all.”
The CEO of Armonk, N.Y.-based IBM discussed his company’s investment in partners, the integration of subsidiary Red Hat, encouraged partners to raise their prices given the inflationary economic environment and even weighed in on chipmaker Broadcom‘s pending acquisition of cloud vendor VMware at CRN parent The Channel Company’s 2022 XChange Best of Breed (BoB) conference in Atlanta.
Krishna was on stage responding to questions from The Channel Company Founding Partner Robert Faletra and CRN Executive Editor of News Steven Burke.
[RELATED: IBM Assimilates Red Hat Storage Technology Into Own Storage Business]
Mark Wyllie, CEO of Boca Raton, Fla.-based IBM partner Flagship Solutions Group, told CRN in an interview that he’s glad to hear IBM plans to continue integrating different parts of the Red Hat business.
Earlier this month, IBM announced that it had absorbed storage technology and teams from its Red Hat business to combine them with IBM’s own storage business unit as a way to help clients take advantage of the two without requiring extra integration or having to deal with multiple sales teams.
Wyllie wants to see IBM further integrate Red Hat services into its portfolio to help partners push the services out to existing IBM customers.
“I think that’d be a benefit to us and IBM,” Wyllie said.
Red Hat’s autonomy within IBM has been essential to its position as an open source software vendor. Krishna clarified Monday that the Red Hat brand will stay in areas where it has a stronger brand than IBM. For storage, “maybe we already have a storage channel, which Red Hat kind of didn’t,” Krishna said.
He said IBM gave Red Hat more security and management capabilities after its acquisition in 2019. Partners can expect more integration between Red Hat and IBM in areas involving Linux.
“So if you can take maybe 50,000 Linux servers and consolidate them using OpenShift on LinuxOne, maybe that‘s a play to be made,” Krishna said. “There’s a few clients who have woken up to that and are doing it right now. So I think that’s going to be a really big play you’re going to see.”
During his talk, Krishna encouraged partners to explore more opportunities in IBM’s artificial intelligence operations (AIOps) offerings, including Turbonomic, Watson AIOps and Instana.
Customers will continue to spend on automation tools, he said.
“The ability to go into an enterprise and tell them, ‘Look, we can do things a lot more automated. We can take some cost out. We can do monitoring, and eventually go closed loop on AI’ – which I don‘t think is happening yet,” Krishna said. “I think is a massive opportunity given the current labor market.”
IBM’s security offerings, as well as Red Hat and containerization offerings, are also areas for partners to invest in, Krishna said.
As for Broadcom and VMware, Krishna said that VMware remains an important partner for his company. And as long as VMware keeps investing in its products, it should remain “a strong franchise.”
“I think it’ll come down to what is going to happen in 2023 and 2024,” Krishna said. “As long as they keep innovating on the products, they keep giving more function back to their clients – it’s a strong franchise. That falls away, then that‘s a different question. But I think the virtualization world likes those products. Now it’s up to them to keep innovating.”
Krishna also told partners they should raise prices to cover the growing cost of labor with such high inflation in the U.S.
“From our conversations with clients, I would tell you that nobody loves it, but they all understand,” he said. “Because most of our clients are doing the same out to their clients. … Pricing power comes down to something simple. Is the product highly valuable and is it sticky? … In a world of fewer skills, if you have the skills, you can price those skills.”
POUGHKEEPSIE, N.Y. (AP) — President Joe Biden predicted Thursday a $20 billion investment by IBM in New York's Hudson River Valley will help provide the United States a technological edge against China, hailing the expansion during an appearance with two House Democrats in competitive races in next month's critical elections.
The president cited IBM's commitment as part of a larger manufacturing boom, spurred by this summer's passage of a $280 billion measure intended to boost the semiconductor industry and scientific research. That legislation was needed for national and economic security, Biden said in Poughkeepsie, adding that “the Chinese Communist Party actively lobbied against” it.
“The United States has to lead the world of producing these advanced chips — this law is going to make sure that it will,” Biden said.
The speech was part of a whirlwind trip that focused heavily on campaigning and included two fundraising events. During one, he warned that Russian President Vladimir Putin's threat about using nuclear weapons as his Ukrainian invasion has floundered is the most severe “threat of Armageddon” since Cuban Missile Crisis in 1962.
Democratic candidates have largely avoided election-year appearances with Biden, whose approval ratings remain underwater. Bucking that trend in New York were Reps. Sean Patrick Maloney and Pat Ryan, who attended the president's remarks at IBM.
The lawmakers, along with Democratic Gov. Kathy Hochul, greeted Biden upon his arrival at Stewart Air National Guard Base.
“When I heard @POTUS was looking to see the benefits of the CHIPS & Science Act first-hand, I told him that the Hudson Valley was the perfect place,” Maloney wrote Wednesday on Twitter. “I’m thrilled to host him in Poughkeepsie this week to celebrate the major wins and good-paying jobs we are delivering here in NY.”
The CHIPS and Science Act, which Biden signed in August, was a rare bill for which the president was able to win bipartisan support.
IBM's $20 billion investment over the next decade is intended to bolster research and development and the manufacture of semiconductors, mainframe technology, artificial intelligence and quantum computing.
“As we tackle large-scale technological challenges in climate, energy, transportation and more, we must continue to invest in innovation and discovery — because advanced technologies are key to solving these problems and driving economic prosperity, including better jobs, for millions of Americans," said Arvind Krishna, IBM's chairman and CEO.
IBM's commitment comes on the heels of chipmaker Micron announcing this week an investment of up to $100 billion over the next 20-plus years to build a plant in upstate New York that could create 9,000 factory jobs. In his remarks, Biden also celebrated Intel's plant groundbreaking in Ohio and an investment by WolfSpeed for chip production in North Carolina.
Maloney, chairman of the Democratic congressional campaign fundraising arm, is running against Republican state Assemblyman Mike Lawler in the 17th Congressional District. Ryan faces state Assemblyman Colin Schmitt in the 18th District.
The boundaries of most New York districts, including Maloney's and Ryan’s, have been affected by redistricting.
Ryan in August won a close special election to serve out the term of Democrat Antonio Delgado, who vacated his 19th District seat after he was appointed lieutenant governor by Hochul. Ryan is running for a full term in the 18th District, where he lives.
Maloney, who had represented that district since 2013, decided to run in the 17th District. His Hudson Valley home fell inside the new boundaries after redistricting.
Hochul, who took office last year after Democrat Andrew Cuomo resigned amid sexual harassment allegations, is looking to win a full term as governor. Her opponent is Republican Rep. Lee Zeldin.
Later Thursday, Biden spoke out against Republicans at a fundraiser at the home of New Jersey Gov. Phil Murphy in support of the Democratic National Committee. The president has warned that followers of former President Donald Trump who deny the results of the 2020 presidential election are a threat to U.S. democracy, labeling them through Trump's slogan of “Make America Great Again.”
“Not all Republicans are MAGA Republicans," he said, but a “good 35% are Trumpites."
In the evening, Biden attended a Democratic Senatorial Campaign Committee fundraiser in Manhattan hosted by James Murdoch, the son of News Corp. publisher Rupert Murdoch. He warned about Putin hinting in a speech last month about deploying Russia's nuclear arsenal, a possible response to the recent loss of territory to Ukrainian forces.
“We have not faced the prospect of Armageddon since Kennedy and the Cuban Missile Crisis,” Biden said.
James Murdoch and his wife, Kathryn, a climate change activist, were major donors to Biden’s 2020 presidential campaign. In 2020, Murdoch resigned from the board of News Corp. amid differences over editorial content at his father's company, which operates The Wall Street Journal and the New York Post. The elder Murdoch is also chairman of Fox Corp., which includes Fox News Channel.
While Biden has been kept at arms length by many Democratic candidates, he's been a prodigious fundraiser for his party this election cycle, raising more than $19.6 million for the Democratic National Committee.
Associated Press writers Michelle L. Price in New York City and Michael Catalini in Trenton, New Jersey, contributed to this report.