Avasant has unveiled its pioneering RadarView™ market assessment for Internet of Things Services. The Internet of Things Services 2019 RadarView™ report covers the top 24 service providers that have shown mature capabilities, future-aligned investments and innovations, and consistent growth in their Internet of Things offerings. The report categorizes the top service providers as follows:
Leaders: Accenture, Cognizant, HCL, IBM, Infosys, TCS, Wipro
Innovators: Atos|Syntel, Capgemini, Happiest Minds, LTI, NTT, Persistent, Tech Mahindra
Disruptors: Birlasoft, Fujitsu, Harman Connected Services, Mphasis, Virtusa
Challengers: Altran, CenturyLink, Mindtree, UST Global, Zensar
Key research findings include:
– Over 45% of Global 2000 organizations are leveraging IoT to enable a transformation towards becoming data-driven enterprises. Using IoT in conjunction with big data/analytics, organizations are developing and scaling alternate business paradigms such as asset sharing, as-a-service and subscription models.
– IoT capabilities combined with AI and Blockchain are driving new efficiencies in industry value chains and becoming the foundation for Industry 4.0 and autonomous enterprise.
– Asset-centric industries such as manufacturing, travel, logistics and utilities scaled IoT implementations first, but other industries such as healthcare, financial services, retail and government have also accelerated adoption.
– Technology providers and service providers are integrating functions and features related to other disruptive technologies in their IoT offerings. This intersection with technologies like AI/ML and analytics, blockchain, edge computing and cybersecurity has become a way to drive true business value
– Acquisitions across the IoT ecosystem have become prevalent. The hardware, technology and connectivity providers, and service providers have used acquisitions as a way to access adjacent opportunities. Enterprises are also acquiring IoT solution providers to transform their businesses and accelerate disruptive product development.
– Security remains a concern. While robust regulations and governing bodies are still being established, enterprises need to be cognizant of the risks, and establish the right governance frameworks and accountabilities.