IBM Watson Declared A Leader In IoT Platforms 2017 By IDC
Zacks Investment Research | Jul 12, 2017 11:20PM ET
Market research firm IDC recently acknowledged International Business Machines Corporation’s (NYSE:IBM) Watson Internet of Things (IoT) platform as a “Leader” in its Marketscape for 2017 Worldwide IoT Platforms. IBM’s IoT platform features were evaluated along with that of 12 other players from the industry.
Notably, in today’s data driven world, IoT platforms play a huge role. Such a platform connects devices and gateways and processes and analyzes information gathered from devices for relevant actions. Additionally, security of the entire process is also taken care of.
Hence, this is one of the most booming areas of the technology sector with a wide range of applications, from wearable devices to smart homes and connected cars to smart cities. We note that with a huge customer base that includes the likes of BMW, BNP Paribas (PA:BNPP), Avnet (NYSE:AVT) , Tech Mahindra and Fortiss, IBM has the resources to establish its strong foothold in the IoT market going forward.
We believe the growth prospects in Watson along with the opportunities in the cloud segment and Blockchain technology will help IBM’s shares to rebound. The stock has underperformed the S&P 500 on a year-to-date basis. While the index gained 9.8%, the stock lost 5.8% over the same time frame.
Is IBM Poised to Reap the Benefits of IoT Growth?
Forbes in a recent article quoted Boston Consulting Group stating that by 2020 business to business (B2B) spending on IoT technologies, applications and solutions will reach €250 billion ($267 billion). IoT revenues are estimated to witness compound annual growth rate (CAGR) of 20% from 2015 to 2020.
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