A report from IoT Analytics found that manufacturing, transportation, energy, and utilities lead the list of global industries that have fully embraced the use of IoT in their operations.
IoT Analytics is a leading provider of market intelligence and competitive intelligence for the Internet of Things (IoT) and Industry 4.0.
The latest report covered more than 700 global IoT system integration and service companies.
Manufacturing tops the list with 64% adoption, followed by transportation with an adoption rate of 37%, while energy and utilities come second with an adoption rate of 34% .
Other industries on the list are healthcare with 31% adoption rate, retail with 25% adoption rate, supply chain, public sector, agriculture, smart cities and buildings have adoption rates of 23, 21, 16, 8 and 5% respectively.
The results also showed that among global companies implementing IoT projects, 55% use a professional services company or systems integrator.
When asked why they hired an IoT integrator, decision makers mentioned lack of in-house experience, staff shortages, and complex technologies.
IoT Analytics has also identified four unique IoT System Integration Services: Strategy Consulting, Solution Design, Integration, and Operations / Managed Services. While many IoT integrators offer a holistic range of integration services, some offer a narrow set. Integration, which is the most offered service in all the companies identified, was rated at 71%, followed by solution design at 57%, strategy consulting at 53% and operations / managed services at 46% .
Almost all 93 percent of identified systems integrators cover software integration. Those who focused on hardware integration were rated 51, while 42% focused on IoT connectivity in various forms.
IoT Analytics has published a list of over 700 systems and service integration companies that focus on the Internet of Things. According to the results, IoT integration is the most offered professional service and manufacturing the most targeted vertical by the more than 700 companies surveyed.
Analyzing the report, IoT Analytics CEO Knud Lasse Lueth said: âGiven that 92% of senior information technology (IT) decision makers surveyed agree that ‘ the company âwill be more important after COVID-19, the role of the IoT integrator is essential. This importance is reinforced by the digital skills gap, which is the main reason companies hire integrators.
Senior Analyst at IoT Analytics, Philipp Wegner, said, âDifferent industries have different needs. A manufacturing company with a global network of factories has specific IoT system integration requirements that differ from a farming business or a healthcare business. Industrial customers matter to IoT integrators: 64% of IoT system integration companies focus on manufacturing, including smart factories, industry 4.0, and connected products. Transportation, like the connected car, the utility vehicle, is the second most common industry with 37%, followed by energy and utilities, such as smart meters and the smart grid with 34%.
Citing the drivers of the $ 32 billion IoT system integration market, the report states that several trends are driving demand for professional IoT services such as cloud computing, new connectivity and hardware configurations, upgrading scale of IoT projects and data streaming and analysis.
For cloud computing, the report says that for many companies, moving existing workloads to the cloud is more complicated than expected.
For new connectivity and hardware setups, he said IoT integrators support businesses with changes or updates to IoT connectivity technology, such as the transition to 5G or low power wide area networks ( LPWAN)) and the continuous replacement and integration of a more powerful periphery. IT devices as part of the modernization of equipment. He further said that some IoT projects stretched to thousands, sometimes millions of devices, which he said could be complicated and often requires outsourcing to service providers. For data rationalization and analysis, the report says systems integrators were often called upon to connect data flows and enable new software tools to take advantage of artificial intelligence (AI) and machine learning (ML).
âIoT integrators focus on different parts of the value chain, such as industries, regions and technologies.
Finding the right IoT integrator for a project can be overwhelming given the myriad of freelancers and small to medium-sized businesses focused on a local subset of the market. Many IoT integrators meet specific needs and industries. The more than 700 IoT system integration companies surveyed employ a combined workforce of nearly eight million professionals, although not all of them focus on IoT, âthe report says.