HFS Horizons: Industry Cloud Service Providers, 2024

HFS Horizons: Industry Cloud Service Providers, 2024 is for enterprise technology and business leaders selecting the service providers best able to align Industry Cloud with cloud-native transformation and measurable business value.

Overview

HFS Horizons: Industry Cloud Service Providers, 2024 is an HFS Research study that assesses 20 service providers on how well they help enterprises align Industry Cloud with cloud-native transformation and business value rather than the customization of horizontal cloud technologies. It introduces the HFS Industry Cloud Continuum and the HFS Industry Cloud value chain to frame how providers move clients from functional optimization toward ecosystem-level value creation. The report is global in scope and concludes that Industry Cloud must be aligned to cloud-native transformation to deliver real outcomes.

Key findings

1. Horizon 3 Market Leaders include Accenture, Cognizant, HCLTech, IBM, Infosys, Publicis Sapient, and Tata Consultancy Services (TCS). Horizon 2 Enterprise Innovators include Capgemini, Deloitte, EY, KPMG, LTIMindtree, PwC, Tech Mahindra, and Wipro. Horizon 1 Disruptors include Genpact, Hitachi Digital Services, Mphasis, Persistent, and UST.
2. Only a third of enterprises are realizing their cloud ambitions, and their biggest challenge is aligning technology and business objectives.
3. 77% of organizations claim to be able to capture business value from Industry Cloud, a claim that HFS data contradicts.
4. Cost savings are the most decisive selection criterion for Industry Cloud engagements, while implementation and back-office services are the priority for most buyers.
5. Business transformation is the outcome enterprises most desire, yet very little is achieved, leaving the context for most organizations at functional optimization.

HFS assesses that retrofitting cloud into traditional operating models is a recipe for failure and that Industry Cloud creates value only when providers prioritize value creation and new engagement models over customizing horizontal cloud technologies. HFS finds that the Horizon 3 Market Leaders separate themselves by blending a compelling transformation vision with deep industry-specific frameworks, ecosystems, and cloud-native delivery.

Research methodology

HFS applied its Horizons methodology to evaluate 20 Industry Cloud service providers globally in 2024 across value propositions, innovation capabilities, go-to-market strategies, and market impact, drawing on provider briefings, client and partner reference checks, and HFS Pulse demand-side survey data.

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