Frost Radar™: Digital Industrial Platforms, 2022

This Frost Radar™ on digital industrial platforms was conceived and built as the competitive benchmark analysis derived from Frost & Sullivan’s Global Digital Industrial Platforms Growth Opportunities study published in March 2022. This Frost Radar™ features what Frost & Sullivan considers to be the top 33 companies in the digital industrial platform ecosystem in 2022 in terms of • Growth trajectory over the past four years, • Growth potential, • Market presence and influence, and • The ability to innovate and disrupt the market. It is not intended to be just the top players’ digital industrial platform offerings for comparison and benchmarking or merely an evaluation of the technical and technological features, capabilities, and specifications of such platforms; what this study offers is a comprehensive performance analysis and assessment of the top companies in terms of their growth strategies, innovation focus, product portfolio, customer alignment, Mega Trends leverage, and other categories. Based on Frost & Sullivan’s proprietary research methodology and algorithm, the robust Frost Radar™ analytical platform calculated and assigned a Growth Index and an Innovation Index score ranging from 1 to 5 to each company based on the analysis of 10 criteria. The intersection of both scores determined each company’s position on the Frost Radar™. Digital industrial platforms market revenue stood at $5.8 billion in 2021. Frost & Sullivan anticipates $14.21 billion in annual revenue by 2026, with a compound annual growth rate (CAGR) of 19.6% from 2021 to 2026. The market is in the growth phase despite some perplexity and reluctance among business leaders due to challenges related to data security, deployment complexity, and high implementation costs. The continuous development of cloud and edge computing; Big Data; artificial intelligence; robotics; digital twins; augmented, virtual, and mixed reality; cybersecurity; communication protocols (including 5G, Wi-Fi 6, Wi-Fi HaLow, TSN, MQTT, and OPC UA); and intelligent sensors will continue to drive market growth. Among the most relevant non-technological growth enablers are M&A and partnerships, new practices propelled by the COVID-19 pandemic such as remote work and remote operations, the growing need for centralized asset monitoring and predictive maintenance, macroeconomic factors such as commodity price fluctuations and higher demand in the oil and gas industry, and the sustainability Mega Trend that focuses on carbon footprint reduction, net zero initiatives, and the circular economy. In a highly fragmented and heterogeneous market with a universe of more than 600 players ranging from hyperscalers and OT vendors to IoT/IT companies, a subset comprising the 65 major market participants in terms of revenue and market share (sliced by player category and platform type) were invited to participate in a briefing session as part of the research scope of the Global Digital Industrial Platforms Growth Opportunities study. According to Frost & Sullivan’s definition of digital industrial platforms, this research service considered only those companies with any of the following subscription-based XaaS offerings: • Infrastructure as a service (IaaS) • Platform as a service (PaaS) • IaaS + PaaS • PaaS + Software as a service (SaaS) After a comprehensive analysis of their performance focused on this report’s 10 analytical criteria, Frost & Sullivan independently plotted 33 of the most significant companies in 2022 in this Frost Radar™ analysis, earning the status of market powerhouses from a growth and innovation strategy perspective. The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in an industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Author: Sebastian Trolli