LOS ANGELES, Feb. 6, 2019 /PRNewswire-PRWeb/ -- Today, Avasant unveiled its pioneering RadarView™ market assessment for Internet of Things Services. The 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
Download Avasant's complimentary 86-page report here.
Avasant's CEO, Kevin S. Parikh, congratulated the winners noting, "Internet of Things has enabled enterprises to not only streamline their supply chain, but also reinvent new business models, as well as new product and service offerings. Today, organizations are recognizing Internet of Things as an integral technology pre-requisite for a connected enterprise with the power to transform their business and seize new opportunities for growth."
IoT has long been associated with asset tracking and industrial automation. However, various industries are increasingly looking beyond these operational measures and leveraging IoT as a driver for reinventing their business models and developing new revenue streams. IoT combined with other digital technologies has become the first mile as well as the last leg for a data-driven enterprise.
Key research findings include:
- Over 45 percent 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.
Avasant's Research Director, Swapnil Bhatnagar, added "As enterprises aim to become more data-driven, they will need to implement IoT as a foundational technology for data acquisition across people, assets, and processes. However, progressive organizations are realizing that true business value from these initiatives is contingent on integrating IoT with other disruptive technologies to fundamentally reshape their value chains. This has led to a significant increase in demand for comprehensive IoT services across all key industries."
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.
SOURCE Avasant, LLC