ISG | July 25, 2022
U.S. enterprises investing in the Internet of Things (IoT) increasingly are starting out with long-term strategies instead of just discrete proofs of concept, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The 2022 ISG Provider Lens™ Internet of Things — Services and Solutions report for the U.S. finds a growing number of U.S. organizations want to develop a high-level view of their IoT future while achieving immediate, measurable benefits from the technology.
“Enterprise IoT plans are growing more ambitious,” said John Lytle, industrial manufacturing client lead for ISG in the Americas. “Companies are looking to optimize their operations, address security threats and extract insights from IoT data.”
Advances in AI and machine learning have expanded the possibilities of IoT analytics, ISG says. In its most basic form, IoT gives enterprises visibility into their operations by collecting data from sensors in machine tools, vehicles and other assets. That data can be used in real time to track objects, generate alerts or predict failures. Using analytics tools, managed services providers are now using the same data sources to derive higher-level business insights.
As in most IT fields today, both enterprises and service providers face a tight market for qualified professionals who can design, integrate and operate complex IoT systems, the report says. Providers and clients are opening delivery centers in Eastern Europe, Latin America and Asia Pacific to spread out the risk of attrition beyond established centers in India.
“Managed IoT services are most affected by the skills shortage, Providers are responding with recruitment, training and intelligent automation.”
Jan Erik Aase, partner and global leader, ISG Provider Lens Research
Enterprises are seeking plug-and-play interoperability among devices, software and networks so they can respond to future requirements and avoid vendor lock-in, but this remains a challenge, ISG says. To deliver maximum value, an enterprise’s IoT infrastructure often needs to be customized to work with specific telecom networks and hyperscale cloud platforms. Yet a lengthy integration process can cut into a project’s return on investment. Providers are continuing efforts to offer open platforms and smooth integration services.
The 2022 ISG Provider Lens™ Internet of Things — Services and Solutions report for the U.S. evaluates the capabilities of 33 providers across five quadrants: Strategy Consulting, Implementation and Integration, Managed Services, Mobile Asset Tracking and Management, and Data Management and AI on the Edge.
The report names Atos, Capgemini, Cognizant and HCL as Leaders in all five quadrants. It names HARMAN DTS and IBM as Leaders in four quadrants each and Accenture and Siemens as Leaders in three quadrants each. Verizon is named as a Leader in two quadrants, and Bosch, Infosys, LTTS, PwC, TCS and Wipro are named as Leaders in one quadrant each.
In addition, Hitachi Vantara is named as a Rising Star — a company with a “promising portfolio” and “high future potential” by ISG’s definition — in two quadrants. Cyient, eInfochips, HARMAN DTS, HPE, NTT and TCS are named as Rising Stars in one quadrant each.
Customized versions of the report are available from Cyient and PwC.
The 2022 ISG Provider Lens™ Internet of Things — Services and Solutions 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, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 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.
The Business Reseach Company | July 22, 2022
The application of IoT in various industries, such as the automotive industry, is driving the growth of the global IoT market. The introduction of IoT in the automotive industry has opened up new opportunities for carmakers and consumers worldwide. The IoT has become a popular hotspot for varied multifunctional applications in the automotive sector. IoT offers enhanced communication, control, and data delivery at any transportation point. Major companies like Mercedes-Benz, Volkswagen, Volvo, Toyota, and Google Inc. are increasingly investing in developing smart cars with rich features that offer healthier, more convenient, and more enjoyable driving experiences. According to UBS, 12% of the total cars sold in 2030 will be for autonomous taxi fleets, with 26 million driverless taxis in operation worldwide, approximately.
The global internet of things (IoT) market size is expected to grow from $326.90 billion in 2021 to $402.72 billion in 2022 at a compound annual growth rate (CAGR) of 23.2%. The internet of things (IoT) industry size is expected to reach $926.61 billion in 2026 at a CAGR of 23.3%.
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Major Companies Are Analyzing The Data Collected By IoT Devices To Improve Business
Managing and analyzing data collected by IoT devices will help maximize its value for the company. Data analytics help in the analysis of IoT data in several areas, such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial and location real-time. Major cloud vendors such as Amazon, Microsoft, and Google are increasingly using data analytics for business improvement, and various companies hope to expand their market share with AI algorithms capable of exploiting machine learning and deep learning, allowing businesses to derive more value and make informed decisions from the increasing data volumes.
The European IoT Market Is Supported By The Adoption Of Advanced Technology
According to TBRC's IoT market analysis, the IoT market in the European region is supported by increasing adoption of the cloud, artificial intelligence, machine learning, and big data technologies; high internet penetration; high demand for smart infrastructure owing to rapid urbanization; and high demand from the growing end-use industries. The market is also aided by investments and government initiatives. For instance, in 2020, the UK Department of Digital, Culture, Media, and Sport (DCMS) announced funding of £400,000 ($0.5 million) to incentivize the creation of design schemes that test the security of Internet of Things (IoT) products.
The Russia-Ukraine Conflict Is A Significant Market Restraint
The ongoing war between Russia and Ukraine is expected to impact the overall information and communications technology (ICT) market, with sanctions and other measures levied upon Russia by the United States, the European Union (EU), and other countries. The war could lead to a possible shortage of semiconductors, with chip-reliant industries like the Internet of Things being impacted as well. Both Russia and Ukraine are among the top suppliers of essential semiconductor raw materials, with Russia supplying nearly 44% of the world's palladium and Ukraine producing 70% of global neon supplies. The shortage of chips could translate to lower production output and higher operating costs, leading to higher product costs.
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KORE | July 11, 2022
KORE (NYSE: KORE), a global leader in Internet of Things (IoT) solutions and worldwide IoT Connectivity-as-a-Service (CaaS), announces that it has been named a 2022 Global Competitive Strategy Leader in the Internet of Things Professional Services Industry by research and consulting firm Frost & Sullivan.
The award highlights KORE's strengths in innovation and customer impact through its comprehensive end-solution enablement services across IoT Connectivity, Solutions & Analytics, which combine to effectively simplify the complexities of IoT, and accelerate time-to-market for our customers.
"KORE is honored to receive this award, Every day we strive to provide best-in-class enablement solutions to bring our customer's IoT digital transformations to life. We strive to make IoT more attainable so organizations across industries can benefit, and we are thrilled to know that we are making a difference for our customers."
KORE President and CEO Romil Bahl
Within the last year, KORE became a publicly traded company listed on the New York Stock Exchange and more recently, acquired Business Mobility Partners, Inc. and SIMON IoT LLC, industry-leading mobility solution providers.
KORE also recently expanded its operations facility in Pittsford, N.Y., to increase its managed services capabilities for device configuring, provisioning, kitting, shipping, reverse logistics, and end-of-life cycle management to help mitigate the challenges and complexities of extensive IoT ecosystems.
Last year, KORE launched its OmniSIMTM solution, which is a multiple international mobile subscriber number (multi-IMSI), eUICC eSIM that can be remotely provisioned and is a single-SKU approach to global connectivity. In addition to global connectivity solutions, KORE offers connectivity management through its award-winning platform ConnectivityProTM, to help businesses access connectivity across the globe so solutions are always on and performing optimally.
"KORE continues to deliver rewarding and valuable user experiences via its commitment to innovation excellence, which ensures its portfolio remains up-to-date with best-in-class technology that complements and addresses customer needs," Carina Gonçalves, Industry Principal, Information Communication Technology at Frost & Sullivan said.
Frost & Sullivan's Competitive Strategy Leadership Award recognizes the company with a stand-out approach to achieving top-line growth and superior customer experience.
KORE is a pioneer, leader, and trusted advisor delivering mission critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers' business outcomes.