Avasant’s RadarView™ Recognizes the Most Innovative Service Providers Enabling Enterprise Adoption of IoT (Internet of Things)
Avasant unveiled its Internet of Things Services RadarView™ 2020, a pioneering market assessment report that recognizes the top 24 providers for Internet of Things (IoT) Services. These providers have shown mature capabilities and consistent growth in their IoT service offerings and have been assessed across three key dimensions – practice maturity, investments & innovation, and industry development. The report categorizes the top service providers as follows:
- Leaders: Accenture, Cognizant, HCL, IBM, Infosys, TCS, Wipro
- Innovators: Atos, Capgemini, HARMAN Connected Services, L&T Tech Services, LTI, Mindtree, NTT DATA, Persistent Systems, Tech Mahindra
- Disruptors: Birlasoft, CGI, eInfochips, Virtusa
- Challengers: CenturyLink, Mphasis, UST Global, Zensar
- Manufacturing still leads in IoT adoption. Manufacturers have executed 32% of IoT projects in 2019 vis-a-vis 25% in 2018. However, the public sector has also doubled the IoT adoption over the last 12 months by leveraging IoT in undertaking smart city initiatives such as smart street lighting, smart waste management, smart traffic control, and smart air quality control.
- 5G is all set to disrupt IoT connectivity because of higher speed, lower latency, greater bandwidth, lower power consumption, and greater privacy. 69% of enterprises already see the potential of 5G technology in their organizations, while 7% have already started building and demonstrating 5G solutions.
- Even with 5G, sending data with low network latency requires higher computing power in IoT devices. Thus, edge computing is critical to bolstering the transformative power of 5G. Telecom providers and cloud providers are actively collaborating for 5G edge innovation to speed up data communications and processing.
- 44% of IoT projects integrate AI and analytics to overcome data challenges around volume, velocity, variety, and complexity. 75% of these projects have also enabled enterprises to transform their business models into as-a-service models.
- The interconnectedness among multiple IoT endpoints, the increase in the number of devices, and the amount of data require security regulations. Thus, governments and regulatory associations are stepping in to protect the industries from IoT-device-related vulnerabilities by regulating IoT devices.