IoT engineering services include product conceptualization, product design, prototyping, and development along with integration and support services for companies operating in different industries. It provides improved analytical capabilities to provide better user experience, enhanced efficiency, faster decision making, and better security.
The MicroQuadrant matrix provides information about the major players who offer IoT engineering services. It outlines the findings and analysis on how well each market vendor performs within the predefined MicroQuadrant criteria. The vendor evaluations are based on 2 broad categories: strength of product portfolio and business strategy excellence. Each category carries various criteria, based on which the vendors were evaluated. The evaluation criteria considered under the strength of product portfolio includes the breadth and depth of product offering (on the basis of the industries that the vendors cater to, deployment models, and subscriptions), product feature and functionality, product quality and reliability, focus on product innovation (on the basis of R&D activities for new product innovations), and product branding. The evaluation criteria considered under the business strategy excellence includes vision alignment, effectiveness of organic growth strategy (on the basis of product developments and business expansions), mergers and acquisitions strategy (on the basis of partnerships, collaborations, and mergers and acquisitions), channel strategy and fit (on the basis of the channel partners that the vendors cater to), and geographic footprint (on the basis of geographic presence and revenue generated from different geographies).
HARMAN International, Aricent, Cognizant, Tech Mahindra, L&T, TCS, IBM, Capgemini, Wipro, Altran, EPAM Systems, and Persistent Systems have been categorized as visionary leaders in the market. They have a strong portfolio of services. These vendors are marking their presence in the market by offering customized solutions as per the requirement of different industry verticals. These vendors have undertaken various growth strategies to advance consistently in the market.
Mindtree and Infosys have been recognized as the dynamic differentiators in the market. These vendors offer subscription-based models for workplace management. They have an innovative portfolio of services. They also have an extensive network of channel partners and resellers to increase the deployment of their platforms across a multitude of industry verticals. The dynamic differentiators have been consistently generating a positive revenue growth in the market, and their market positions have been boosted by their organic and inorganic growth ventures.
RapidValue, Volansys, Xoriant, Happiest Minds, Harbinger Systems, eInfochips, and GadgEon have been recognized as innovators in the IoT engineering services market. They possess innovative solutions to cater to the future workplace demands. These companies are concerned about their product portfolio, and they have the robust potential to build strong business strategies for expanding their business and staying on par with the visionary leaders. These vendors have been consistently offering IoT engineering services to fulfill their customers’ demands. Innovators have been at the forefront in deploying innovative IoT engineering services.
Prodapt, SoftDEL, MosChip, and Chipmonk Technologies have been recognized as the emerging companies in the IoT engineering services market. Most of the emerging companies have undertaken multiple acquisitions to boost their sales capabilities across various regions. They also offer integration platform services to a wide range of clients.