Mumbai – November 14, 2018: Tech Mahindra, a leading provider of digital transformation, consulting and business re-engineering services has been recognized as a Leader in the Everest Group Automotive and Software Product Engineering Services PEAK Matrix™ Assessment for the year 2017. As part of this report, Everest Group classified service providers on the PEAK Matrix™ into Leaders, Major Contenders and Aspirants and positioned Tech Mahindra as a “Leader” for their ability to offer large-scale product engineering engagements leveraging their strong project management capabilities and widespread delivery footprint.
Tech Mahindra Recognized as a Leader in Everest Group PEAK Matrix™ Report for Automotive & Software Product Engineering Services
Tech Mahindra was evaluated across a range of parameters on the Everest Group PEAK Matrix such as “Vision & Capability” and “Market Impact” including Services, Products, Solutions and Locations and was rated highest based on the parameters that include –
- Top quartile performance across market success captured through a combination of ACV/TCV/number of contracts, renewals.
- Delivery capability, captured through ability to deliver services successfully through scale, scope, enabling capabilities and delivery footprint.
- Expertise in, and driving focus on technologies of the future, investments in strategic platforms
- Customized industry specific solutions and advisory role in a customer’s digital transformation journey
Karthikeyan Natarajan, Global Head, Engineering, IoT and Enterprise Mobility, said, “Tech Mahindra’s strategy, Design – Engineering – Digital continues to drive industry leading growth in the Automotive & Software Product Engineering Services space. It confirms our leadership in the vehicle engineering/development, safety critical software development & testing and digital platforms for connected cars and Industry 4.0 in the fastest growing automotive vertical. Our software product engineering practice enhances customer experience with improved user interface and user experience, artificial intelligence, analytics and agile product development through micro services. Along with these, our investments in the areas of next-gen themes such as IoT, 5G, AI & Blockchain position us as a 360-degree partner enabling customer experiences and enhancing future readiness.”
According to the latest report from Everest Group, Software Products is the largest Engineering Services segment with the growth forecast of 15-16% during 2018-2022 where the need for digitalization and software-defined engineering will continue to fuel services’ demand for software. And Automotive is the fastest growing segment which will grow at 13-14% as Enterprises are increasing spend due to the focus on software-led future of mobility.
Chirajeet Sengupta, Partner, Everest Group, “Software product developers are grappling with challenges around increasing architectural complexity, shortening product lifecycles, and adopting next-generation technology themes such as artificial intelligence. As agility and innovation become table stakes, enterprises need to move towards designing configurable solutions with built-in intelligence. Development of strong capabilities through inhouse IPs, DevOps-focused teams, a user experience focus, and key partnerships have helped Tech Mahindra secure its position as a Leader in Everest Group’s inaugural PEAK Matrix™ assessment on Software Product Engineering Services.”
“The Automotive industry is undergoing a digital revolution sparked by the combination of three key factors: ambient technology, a global connected ecosystem, and evolving business models. As a result, enterprises are expected to deliver added value through domain expertise, data capabilities and analytics, and as-a-service offerings. Investments in new technologies through in-house IPs, co-innovation labs, key acquisitions, and partnerships with academia have helped Tech Mahindra secure its position as a Leader in Everest Group’s inaugural PEAK Matrix™ assessment on Automotive Engineering Services,” he added.
Tech Mahindra’s Integrated Engineering Solutions (IES) delivers solutions enabling “Digital Engineering Enterprise” across Aerospace and Defense, Automotive, Industrial, Telecom, Hi-Tech, Healthcare, Transportation and ISVs. IES is an innovative engineering solutions provider across the product life cycle, with our extensive in-house capabilities and an ecosystem of partners. With 50+ exclusive engineering development centers supporting new program launches and 120+ marquee global customers, TechM IES is an established leader for Engineering Services in the industry.