Microsoft, Amazon, IBM, and PTC were found out to be the best performers in terms of execution of Internet of Things (IoT) platform providers in a study that was conducted by Navigant Research.
The new Leaderboard Report examined 15 such platform providers and evaluated the performance across 10 criteria.
An existing ecosystem of vendors is required by companies dealing in utilities and large enterprises that make use of IoT technologies to enable them to bring to use an enhancing number of number of connected devices, the related processes, and the very large volumes of data. All of these are necessary processes that have to be completed to be able to find out and establish treasured business insights with the use of analytics tools. A foundational solution that has been worked out by many of the IoT vendors to tackle the rising demand for IoT technology is the creation of IoT platforms. Such platforms helps to create a specific order, control, and economic advantages in the processes.
“The crowded IoT value chain has attracted numerous platform vendors, each trying to grab a piece of what has so far been a fragmented market,” says Neil Strother, principal research analyst with Navigant Research. “The leaders in this segment have developed IoT platforms that enable customers to better harness large data sets from devices and sensors, and then turn that data into useful business outcomes.”
However, the most important challenge that such vendors are faced with is to navigate the web of complexities that are faced in deployment of IoT and thereby create a differentiating identity for themselves. The market advantage would be taken by those companies that have managed to create innovative and differentiated products which later became standard one for one particular industry, says the report.
With respect to the utilities industries as well as other industries which are adopting and using digital transformation projects, the strategy and the execution of 15 IoT platform vendors that are used in those industries were examined in the report which has been named as navigation Research Leaderboard: IoT Platform Vendors.
The 10 criteria that were used to evaluate the 15 vendors included vision; go-to-market strategy; partners; technology; geographic reach; sales, marketing, and distribution; solution performance; product portfolio; pricing; and staying power.
The aim of the Navigant Research report is to provide industry participants an objective evaluation of the comparative strength and weaknesses of the companies dealing in the IoT platform market with the very specific methodology of the study and the profiling, rating and ranking of the vendors.
(Adapted from Businesswire.com)