Frost Radar™: IoT Professional Services, 2024

Frost Radar™: IoT Professional Services, 2024

A Benchmarking System to Spark Companies to Action - Innovation That Fuels New Deal Flow and Growth Pipelines
While the internet of things (IoT) is important to organizations aiming to generate operational efficiency, drive new revenue streams, or improve customer experience, companies struggle to implement IoT projects because of challenges related to connecting operational infrastructure and legacy IT infrastructure, choosing the best connectivity protocol, and making decisions to maximize return on investment.

IoT professional service providers supporting clients in planning and implementation. Instead of following a do-it-yourself approach, companies can opt for IoT professional services to make the best use of the rapid developments in IoT and advanced technologies that enhance solutions and outcomes. With new business models, innovations, and continuous development of products and services, IoT providers help clients stay ahead of the curve and adopt IoT best practices.

Frost & Sullivan defines IoT professional services as consulting, design, and deployment. IoT consulting and design includes spot services, characterized by short- and medium-term contracts, usually non-renewable, focused on consulting, design of network and infrastructure architecture, and application development, testing, and integration. IoT deployment includes installation of hardware and software, and maintenance of these products.

For companies in the early stages of IoT adoption, navigating the IoT ecosystem can be difficult. The expertise and experience of professional services providers will allow companies to focus on their core business. A key development globally is collaboration among providers. With clients needing assistance with connectivity, cybersecurity, data management, device management, and infrastructure management, their needs are difficult and complex. Providers are increasingly collaborating with others in the industry ecosystem to provide complete, end-to-end solutions. Industry participants also are developing standards and regulations to ensure better compatibility, interoperability, and compliance across regions.

Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.