U.S. Enterprises Look for Innovation Partners in IoT Space
The 2020 ISG Provider Lens IoT – Services and Platforms Report reveals significant evolution within the U.S. IoT market, highlighting enterprises’ focus on business optimization and operational efficiencies. Key findings indicate that IoT technologies are critical for digital transformation, with a strong demand for partnerships among service providers. The report also emphasizes the growing importance of cybersecurity in IoT, although a comprehensive security framework is currently lacking. Industry leaders identified include Capgemini, Cognizant, and IBM, with considerable investments noted in smart buildings and connected vehicles.
- U.S. enterprises increasingly prioritize IoT for operational efficiencies and cost reduction.
- Strong investments in smart building technologies expected over the next five years.
- Prominent industry players like Capgemini and IBM recognized as leaders in IoT services.
- Lack of a comprehensive cybersecurity framework is a barrier to IoT deployment.
STAMFORD, Conn., Sept. 02, 2020 (GLOBE NEWSWIRE) -- Enterprises in the U.S. are looking for Internet of Things (IoT) service providers that can become innovation partners that optimize business processes and improve existing IoT implementations, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The 2020 ISG Provider Lens™ IoT – Services and Platforms Report for the U.S. finds the IoT market evolving and expanding, offering enterprise customers advances in augmented and virtual reality, autonomous cars and smart workplaces.
Business optimization, operational efficiencies, cost reduction and remote operations are some of the main priorities for enterprises adopting IoT technologies, the report says. For their part, service providers are focusing on creating business value and enhancing the IoT experience.
“IoT is a big part of the digital transformation journey most enterprises are embarking on, driven in large part by technology providers,” said David Lewis, partner and manufacturing industry lead for ISG in the Americas. “The IoT is the key driver of the smart ecosystem – whether that’s a connected factory; a smart city, building, home, car or office; or a smart process or operation.”
The report sees a future marked by the convergence of the IoT with blockchain, artificial intelligence and edge computing. Many U.S. enterprises are investing in at least one of these technologies as part of their IoT efforts.
U.S. enterprises are looking to IoT service providers to reduce costs, drive positive returns on investment, mitigate risks and enable easy data transfer from legacy systems, the report says. Many enterprises are seeking partnerships from service providers in which collaboration enables technology integration and more business-focused outcomes.
Enterprises are also exploring partnerships, mergers and acquisitions in the IoT space to give them a competitive edge, the report adds.
The report notes that cybersecurity is gaining in prominence in the IoT space, but it still lacks a comprehensive framework. The lack of a suitable security framework is a barrier to deployment.
The report sees the IoT making waves in the manufacturing industry, with IoT-based transformation giving manufacturers fast and favorable returns. Asset management, smart manufacturing and performance tracking are some of the key areas where the IoT is being deployed. The IoT now covers more than 50 percent of technology investments in the manufacturing industry, the report notes.
The report also sees significant investments being made in smart monitoring for commercial and private buildings in the U.S. Commercial buildings are expected to see rapid adoption of smart building technologies over the next five years. Service providers are working on customized solutions to optimize performance and reduce waste and cost for buildings.
In addition, the report sees the connected vehicle market growing, driven by investments from service and technology providers. The U.S. connected car market has seen rapid growth in the demand and adoption of advanced driver assistance systems. Car manufacturers, automotive OEMs and service providers are increasingly engaged in developing connected solutions.
The 2020 ISG Provider Lens™ IoT – Services and Platforms Report for the U.S. evaluates the capabilities of 35 providers across five quadrants: Consulting and Integration, Managed Services, Connected Vehicles, Manufacturing and Smart Buildings.
The report names Capgemini, Cognizant and IBM as leaders in all five quadrants and Accenture, Atos, Harman, HCL, Infosys and TCS as leaders in four. Siemens, Tech Mahindra and Wipro are named as leaders in three quadrants, DXC Technology and LTTS are named as leaders in two, and Mindtree is named as a leader in one.
A customized version of the report is available from eInfochips, named a “Rising Star by ISG for having a “promising portfolio” and “high future potential.”
The 2020 ISG Provider Lens™ IoT – Services and Platforms Report for the U.S. is available to subscribers or for one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe and Latin America, as well as in the U.S., Germany, Switzerland, the U.K., France, the Nordics, Brazil and Australia/New Zealand, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
The series is a complement to the ISG Provider Lens Archetype reports, which offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
Starting this year, each ISG Provider Lens™ study will include a Global Summary to help enterprise subscribers better understand provider capabilities across all geographic markets covered by that study. All ISG Provider Lens™ reports also will now include an Enterprise Context feature to help executives quickly identify key insights related to their roles and responsibilities.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world's top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
# # #
Will Thoretz Information Services Group, Inc. +1 203 517 3119 Will.Thoretz@isg-one.com Jim Baptiste Matter Communications for ISG +1 978 518 4527 jbaptiste@matternow.com
FAQ
What does the 2020 ISG Provider Lens IoT report reveal about industry trends?
Who are the leading providers in the IoT services market according to the report?
What challenges does the IoT sector face as mentioned in the ISG report?
How are U.S. enterprises approaching IoT technology adoption?
What impact is IoT expected to have on the manufacturing industry?
