Stamford, Conn., July 25, 2019: Enterprises worldwide are exploring ways to use the Internet of Things (IoT) to further their digital transformations and are seeking industry-specific support from IoT technology and service providers, says a new report.
Published by the global advisory and research firm Information Services Group (ISG), “The 2019 ISG Provider Lens IoT — Transformational Services, Technology, Solutions, Platforms and Industries Global Report” finds Enterprises expecting IoT providers to help them reduce both costs and risks, and achieve a positive return on their investments. Enterprises also expect vendors to offer easy data transfer from legacy systems.
“The IoT industry is evolving every day with new additions and use cases,” said Esteban Herrera, partner and global leader of ISG Research. “The IoT is an integral part of the digital transformations that Enterprises are undertaking to improve their operational efficiencies and grow their businesses.”
The Industrial IoT (IIoT) platform segment, in particular, is expected to grow 20 to 30 percent annually over the next three years, with a growing need to leverage AI to enhance operational efficiency, reduce downtime and improve process stability. Digital twins, a key trend of Industry 4.0, will need to be supported by IIoT platforms, the report said.
The report notes mergers, acquisitions and partnerships, mostly within software and applications services, along with larger deals focused on hardware, will fuel additional growth in the IoT space. Co-innovation, in which service providers collaborate with solution providers, is helping drive next-gen IoT solutions across industries.
The 2019 ISG Provider Lens IoT — Transformational Services, Technology, Solutions, Platforms and Industries Global Report evaluates the capabilities of 35 providers across six quadrants: Consulting and Services, Managed Solutions and Services, Connected Cars, Manufacturing, Smart Building and Infrastructure, and IoT Platforms.
The report names Capgemini and Wipro as leaders in five quadrants, while Atos, Cognizant, HCL and IBM were leaders in four. Infosys and TCS were named as leaders in three quadrants, while Accenture, Harman and Tech Mahindra were leaders in two.
A customized version of the report is available from Mindtree.
Image Credit: ISG