OREANDA-NEWS. IBM (NYSE: IBM) announced today it has opened an IBM Budapest Lab dedicated to developing new technologies for IBM Cloud Video to support the increasing demand for streaming video technology by companies across all industries.

A major focus will be collaborating with other IBM sites to infuse cognitive capabilities into IBM Cloud Video solutions to unlock data and insights from video. IBM estimates cloud-based video will be a $105 billion market by 2019.

Last year, IBM combined Watson and other cognitive technologies with its cloud video solutions for new pilot services that automatically segment videos by understanding the content and provide near-instant feedback to livestreamed events by tracking sentiment on social media.

IBM also has used Watson’s capabilities to enhance video in a number of ways, from helping create a movie trailer to delivering closed-captioning in real time with subject-matter expertise. Watson provided intelligent captioning to the US Open by learning tennis terminology and names to improve accuracy.

"Video is a fast-growing area in the cloud with companies across all industries using video to improve communications with employees and customers," said Gyula Feh?r, IBM Budapest Lab leader. "Developers at the new IBM Budapest Lab already are working closely with other IBM researchers to use Watson and other cognitive technology to uncover new insights from video and provide new value to broadcasters and content owners."

The IBM Budapest Lab expands on the work of the previous Ustream R&D Center in Hungary. IBM Budapest Lab offices will stay in the heart of Budapest on Andrassy Street where the Ustream R&D Center was located, and are being renovated and expanded to provide a high tech and inspirational workplace for IBM employees.

IBM acquired Ustream in January 2016 and made it one of the pillars of the newly created IBM Cloud Video unit. IBM Cloud Video helps media companies and enterprises across a broad range of industries, including retail, automotive, technology, education, hospitality and healthcare, to stream live and recorded content through a global network.

IBM Cloud Video clients include Mazda, Roland, CreativeLive, NASA, A&E Networks, Scripps Networks and CBC.