Mumbai: Tech Mahindra Ltd. a leading provider of digital transformation, consulting and business reengineering services and solutions, has been recognized as a ‘Leader’ in the Everest Group Software Product Engineering Services PEAK Matrix™ Assessment for the year 2019. Focus on future technologies, investments in strategic platforms, customized industry-specific solutions and advisory role in customer’s digital transformation journey were amongst the key assessment criteria.
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 strong capabilities in software product engineering and successful engagements with customers via innovative constructs such as product carveouts.
Akshat Vaid, Vice President, Engineering Services Research & Advisory, Everest Group, “Tech Mahindra maintained its leadership position in the 2019 PEAK Matrix™ assessment as a result of good all-round performance through the year and concerted efforts in further strengthening capabilities in software product engineering. The company has invested in emerging themes such as microservices, user interface/ user experience, cloud enablement and management, and Artificial Intelligence/ Machine Learning in the form of IP assets and frameworks. Tech Mahindra’s willingness to engage via innovative commercial models, partnering in ideation, and its ability to accelerate time to market are well appreciated by customers.”
Tech Mahindra was evaluated across a range of parameters such as “vision & capability” and “market impact” including services, products, solutions and locations. It was positioned as a ‘Leader’ based on – top quartile performance across market success; 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, Internet of Things and Enterprise Mobility, Tech Mahindra, said, “As part of the TechMNxt charter, Tech Mahindra is focused on leveraging next-generation technologies to deliver an enhanced experience to customers globally through our next-gen software and digital engineering practices. This recognition is a testimony of our continued investments in building IP (Internet Protocol), software platform and automation solutions, enabling our customers to be agile, intelligent and cognitive.”
According to the PEAK Matrix report from Everest Group, Software accounted for nearly one-third of the global engineering research and development spend by businesses in 2018 and it has been the fastest-growing segment over the last three years. The global outsourcing market for Software Product Engineering stood at US$11.2 billion in 2018, witnessing a Year on Year (YoY) growth of 20.4%.
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. With 50+ exclusive engineering development centres supporting new program launches and 120+ marquee global customers, Tech Mahindra IES is an established leader for Engineering Services in the industry.