LOS ANGELES, July 16, 2018 /PRNewswire-PRWeb/ -- Avasant, today unveiled RadarView™ market assessment covering the blockchain services space. This report recognizes 16 service providers for their contribution to furthering adoption of blockchain in leading enterprises. The service providers awarded top honors include:
- Leaders: Accenture, IBM, LTI, NTT Data
- Innovators: Capgemini, Cognizant, HCL, Infosys, TCS, Wipro
- Disruptors: Mphasis, Tech Mahindra, UST Global
- Challengers: Hexaware, Luxoft, Zensar
Avasant has made available the full 60+ page report for complimentary download from here.
A nascent technology, blockchain possesses extraordinary potential to disrupt business models. Enterprises are increasingly recognizing this potential, and are making investments in understanding the technology and evaluating use cases, and have a need to understand the dynamic provider landscape better. Recognizing this need, Avasant conducted extensive research to create the proprietary assessment to help enterprises identify the right providers for their blockchain journey.
Avasant performed an in-depth market review of 28 top tier global providers on three critical dimensions of assessment, Practice Maturity, Investment and Industry Development. The service providers that stood out across the dimensions were chosen for recognition in the RadarView™ 2018 results.
Commenting on the report, Avasant CEO, Kevin S. Parikh said, "Provider landscapes are becoming intricate and complex. Avasant's RadarView™ seeks to help enterprises zero in on the leading digital providers in emerging areas such as blockchain. As several enterprises take their blockchain pilots to business value assessment phase in the next 6 to 18 months, we expect that 2019 could be the year when we see a number of enterprise-wide production implementations."
The assessment covered both qualitative and quantitative indicators to determine a relative assessment amongst providers based on information gathered through market interactions, public disclosures and provider inputs.
Swapnil Bhatnagar, Research Director at Avasant added, "Enterprises and providers alike are convinced that Blockchain is an essential technology that will help transform businesses and develop new revenue streams. We have seen some serious investment in the Blockchain Services space from providers as well as significant engagement from enterprises. The number of active clients for key providers has on an average, tripled in the last twelve months, and we expect the level of investment to increase significantly in coming year".
Other key findings from the report include:
1. 2019 will become the year of blockchain as nearly a quarter of ongoing projects go up for business value assessment in the next 12 months
2. Enterprises in the banking, financial services and manufacturing sectors, have been at forefront of recognizing this potential, and currently constitute 60% of blockchain services provider revenue.
3. With less than 6% projects in implementation phase, scarcity of talent with real world enterprise grade integration experience is the single biggest challenge for enterprises and providers.
4. More than 35% of key Blockchain service providers are considering inorganic means to expand their practice.
5. Enterprises are planning to make investments to grow their pool of certified blockchain professionals over 200% in the next twelve months.
About Avasant
Avasant is a leading management consulting firm focused on translating the power of technology into realizable business strategies for the world's largest corporations. Specializing in digital and IT transformation, sourcing advisory, global strategy, and governance services, Avasant prides itself on delivering high-value engagements through industry-focused innovation and flexible client based solutions.
Our seasoned professionals have an average of 20 years of industry-honed expertise, having conducted 1000+ engagements in over 50 countries. Avasant's next generation consulting and advisory methods have made it the top-ranked firm in its class, with recognition from numerous organizations, including: Vault, NOA, IAOP, and Wall Street Journal.
Avasant's engagement in the global market has inspired a strong commitment to community and purpose. Avasant Foundation supports technology and skill development programs to create employment opportunities for youth across Africa, Asia, the Caribbean and Latin America.
For more information, visit https://www.avasant.com.
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Contact
Nicole Dulay
Marketing Manager
Avasant
nicole.dulay(at)avasant.com
SOURCE Avasant, LLC
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