What you need to know:
- Recognition as a Leader is based on a combination of “Ability to Execute” and “Completeness of Vision.”
- According to the report, “Leaders invest in the future of IoT that includes a continuum of value from IoT edge devices to IoT platforms and related analytics. Leaders perform skillfully and often exceed expectations. They have a clear vision of the market’s direction and develop competencies to maintain their leadership. Leaders engage customers and provide value across multiple geographies. They shape the market, rather than follow it, and they often set the benchmark for market growth.”
- The recognition follows Verizon’s earlier recognition as a 2024 Gartner® Peer Insights™ Customers’ Choice for IoT, reflecting ratings from customers and end-users of IoT services.
NEW YORK – Verizon announced today that it has been recognized as a Leader in the Gartner Magic Quadrant for Managed IoT Connectivity Services, Worldwide. Recognition as a Leader is based on “Completeness of Vision” and “Ability to Execute” for managed IoT services.
“We feel that this recognition of Verizon’s managed IoT connectivity services is a testament to the strength and completeness of our end-to-end IoT offering for customers of different industries, geographies and sizes,” said Daniel Lawson, SVP, Global Solutions and IoT, Verizon Business. “Our IoT connectivity offering — especially when integrated with other Verizon solutions and platforms like private 4G/5G, fixed wireless access, edge computing, and Sensor Insights — can help customers with data-driven automation in near-real time, asset tracking and monitoring, cybersecurity, quality control, and more. As we continue to strengthen our global IoT offerings and platforms, we look forward to further proliferating capabilities like these with business customers in the U.S. and abroad.”
In June of 2024, Verizon was named as a 2024 Gartner® Peer Insights™ Customers’ Choice for IoT, reflecting feedback from Verizon customers and end users of its IoT services. Customers’ Choice vendors meet or exceed both the market average Overall Experience and the market average User Interest and Adoption.
Verizon was also recently named a Leader in the first-ever Gartner Magic Quadrant™ for 4G and 5G Private Mobile Network Services.
Magic Quadrant Market Definition for IoT Connectivity Services
Gartner defines managed IoT connectivity services as “a market that enables secured connectivity, data collection, analysis, and additional decision services. These services provide businesses with the ability to monitor, manage and control (manually and through automation) assets associated with business processes. This includes connected consumer, commercial, or industrial products.”
According to the report, “Leaders invest in the future of IoT that includes a continuum of value from IoT edge devices to IoT platforms and related analytics. Leaders perform skillfully and often exceed expectations. They have a clear vision of the market’s direction and develop competencies to maintain their leadership. Leaders engage customers and provide value across multiple geographies. They shape the market, rather than follow it, and they often set the benchmark for market growth.”
Evaluation Criteria
For Ability to Execute, “Gartner evaluates vendors on the quality and efficacy of the processes, systems, methods or procedures that enable IT provider performance to be competitive, efficient and effective, and to positively impact revenue, retention and reputation within Gartner’s view of the market,” according to Gartner.
Gartner puts “high” weighting on the following for Ability to Execute: Customer Experience, Product or Service, Sales Execution/Pricing, and Operations. “Medium” weighting is placed on Market Responsiveness/Record and Marketing Execution.
For Completeness of Vision, “service providers on their ability to articulate logical statements convincingly about the market’s current and future direction, innovations, customer needs, and competitive forces, and on how well these correspond to Gartner’s position,” according to Gartner.
Gartner evaluation criteria puts “high” weighting on the following for Completeness of Vision: Market Understanding, Sales Strategy, Offering (Product) Strategy, Vertical/Industry Strategy, Innovation, and Geographic Strategy. “Medium” weighting is placed on Marketing Strategy and Business Model.
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