Organizations around the world are getting interested in IoT and IIoT or industrial IoT as they are searching for service suppliers to help in managing and securing their installations. This is reported by ISG, which is a global technology advisory and research firm in Connecticut. The company published a report that finds an increased interest in the usage of IoT in many ways, like improving supply chain efficiency, powering vehicles, and running store floor equipment. The global leader and partner of ISG, Gaurav Gupta, said that an interest resurgence is there from enterprises worldwide in the internet of things. Most big enterprises are keen to scale the IoT initiatives all around the world.
The pandemic reduced the overall IoT investment in 2020. The manufacturing sector increased its expenses on the internet of things outsourcing contracts, says the report. The growth in advanced and smart initiatives in the manufacturing field has elevated more these days. Gupta added that the pandemic affected Capex-related IoT and hardware investments. However, intelligent operational expenditure investments with better ROI like predictive maintenance and asset management are obtaining steam. Besides manufacturing, internet of things outsourcing contracts started to rebound in more sectors in 2020's fourth quarter, as per the report.
Along with the pandemic-related effects, several companies implementing IoT are considerate about cyber security. They are looking for service suppliers to aid them in protecting the data flow over the IoT connected systems, says the report. IoT service suppliers are creating security services for their managed and consulting services engagements, particularly those focusing on operational technology for OT convergence. Various security services work on covering the whole IoT ecosystem, starting from edge to on-premise cloud systems. The service providers also help enterprises to deploy AI within IoT systems. Artificial intelligence can aid these systems to process huge amounts of data in a better way, and service suppliers often provide AIOps systems that are customized as per customer needs.
In the report, it is mentioned that the enterprises are also looking forward to 5G network technologies for connecting the IoT networks. However, the spectrum availability of the notes is quite inconsistent. In many cases, network operators need to close older networks in order to make space for 5G. The enterprises that are deploying IoT devices and fleets will require selection management of replacement technology when the network operators are shutting down older services. The shuttering events can happen as per different countries, operators, which makes it quite hard to manage. The report evaluates 30 providers' capabilities across three things that are AI on edge, IT/OT Data Convergence, and IoT security.
The report shows the names of companies like Capgemini, Atos, and IBM in all three quadrants. Also, DXC Technology, Cognizant, and Siemens were named in two quadrants. HARMAN, HCL, Accenture, L&T, Infosys, Tech Mahindra, Wipro were named in only one quadrant. Moreover, the NTT Data was named as a Rising Star as the company has full future potential in two. Orange and HCL also were Rising Stars in the list of one quadrant.
Credits: For more information about enterprises' interest in the internet of things, visit the site.
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