IBM is one of the most valuable technology brands in the world, behind fellow tech giants Google, Apple, Microsoft, Tencent, and more recently, Facebook. The company is also among the most valuable companies in the world, with an estimated market value of more than 130 billion U.S. dollars in 2018 and around 80 billion U.S. dollars in annual revenue. Technology services & Cloud Platforms are IBM’s biggest business segment, generating about 43 percent of IBM’s total revenue in 2017. Cognitive solutions and global business services are IBM's second and third most important business segments in terms of revenue. IBM competes with SAP, Microsoft, Oracle, Salesforce, Amazon and many others for market share in software and services segments such as business intelligence software, the enterprise applications market, and cloud computing among others.
IBM is responsible for some the most groundbreaking inventions in the technology industry, such as the automated teller machine (ATM), the hard disk drive (HDD), the Universal Product Code (UPC) and the dynamic random-access memory. For those and other innovations, IBM and its employees have gained recognition and acknowledgement in the form of five Nobel prizes, ten U.S. National Medals of Technology, five U.S. National Medals of Science, and six Turing Awards, one of the most prestigious computer science awards in the world. IBM also holds an extensive number of patents in the U.S., and has invested tens of billions of dollars into funding research and development.