Avasant, a leading management consulting firm, ranks LTI an “Innovator” in its Internet of Things (IoT) Services RadarViewTM 2021 Report. Avasant evaluated enterprise IoT services capabilities of 42 service providers, and based on rigorous assessment, offered recognition to 24 service providers for delivering maximum value to the market in the last 12 months.
The Avasant IoT Services RadarViewTM report evaluated service providers based on three key parameters – practice maturity, partnership ecosystem, and investment & innovation. LTI’s strategic focus on IoT, expertise in Industrial IoT with end-to-end offerings, its burgeoning client portfolio across industries, became the key factors contributing to its positioning in the report.
LTI has these offerings segregated into four major areas: consulting and advisory, implementation and integration, business scale-up, and solution-as-a-service. With its solution as a service offering, it focuses on providing flexible business models that help save upfront CAPEX and time for its customers, for example, ‘Connected X as a Service’ offering on Cloud and Business Insight Solutions on Cloud (IT-OT Convergence).
To foster innovation, LTI has built business labs, set up specifically for its clients. The company is investing in building self-funded innovation hub as well. LTI’s emphasis on developing pioneering use cases and its ability to deliver outcomes at scale for its diverse client base, became another key factor that sealed its leadership spot.
Talking about LTI’s achievement, Avasant analyst Shwetank Saini, said, “An increasing no. of companies are planning to shift from exploratory and proof-of-concepts IoT to full-scale production. With the pandemic advancing the push for Industry 4.0, connected healthcare, and connected retail, enterprises are facing various barriers while trying to scale. In this scenario, service providers play a bigger role in the IoT space.”
LTI has emerged as a strong transformation partner for enterprises across industries. It uses its strong and diverse technology partner ecosystem to accelerates time-to-value for IoT initiatives at scale. It has invested in business and tech labs to co-innovate with its customers, and major partners (including PTC, Microsoft, AWS, ServiceNow, and Siemens).
LTI’s GTM strategy is pivoted around Industry 4.0. It has built industry-specific solutions, IPs, and assets ranging from @Edge solutions for Digital Command Center and Computer Vision to improve operational efficiency to cloud solution for manufacturing applications that helps convert CAPEX to OPEX. LTI’s end-to-end offering, wide partner ecosystem, and its approach to innovation to provide IoT services to its customers, have placed LTI as an innovator in Avasant’s Internet of Things Services 2021 RadarView.”