DALLAS, Texas, July 11, 2019 /PRNewswire-PRWeb/ -- Everest Group today announced the launch of "The Everest Group Engineering Services Top 50™," an annual ranking of the world's largest third-party providers of engineering services (ES). The list identifies the largest ES providers, their growth and coverage cutting across geography and verticals. The global ES market is valued at more than US$40 billion.
"The design-to-development process has traditionally been something enterprises kept in-house, but the need for scalability and rapid innovation has compelled them to consider third-party providers," said Akshat Vaid, vice president at Everest Group. "As a result, engineering services providers have grown, with both more and larger deals as they have expanded their industry breadth, solution breadth and global footprint. They are also developing domain expertise and gaining scale through IP engagements and acquisitions. The market is becoming more favorable to engineering services providers as more high-end engineering services opportunities are being outsourced."
Topping the 2019 list of ES providers are these 10 leaders:
1. Altran
2. Alten
3. HCL Technologies
4. AVL
5. AKKA Technologies
6. Accenture
7. Tata Consultancy Services
8. Wipro
9. AF
10. L&T Technology Services
The ranking is based on both revenues (75% of the composite score used for ranking) and year-on-year growth for the calendar year 2018. Growth has two sub-parameters: absolute growth (measured as change in ES revenue in US$ million and accounting for 12.5% of the composite score) and percentage growth (measured as percentage change in ES revenue and accounting for the final 12.5% of the composite score).
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Other highlights:
Top 10 ES providers by revenue:
1. Altran
2. Alten
3. HCL Technologies
4. AVL
5. AKKA Technologies
6. AF
7. Accenture
8. Tata Consultancy Services
9. Wipro
10. Bertrandt
Top 10 ES providers by growth:
1. L&T Technology Services
2. Altran
3. Globant
4. HCL Technologies
5. SII Group
6. GlobalLogic
7. KPIT
8. EPAM
9. Mindtree
10. Tech Mahindra
Most large ES providers (62%) are pure play. Broad-based service providers that offer ES as part of a broader portfolio (IT and/or business process services, consulting, technology products, etc.) represent 38% of the global ES market; these organizations are focusing on increasing revenue from ES to offset the risk of lower growth and narrowing margins in traditional areas such as application development and maintenance.
Top 5 broad-based ES providers (by revenue):
1. HCL Technologies
2. Accenture
3. Tata Consultancy Services
4. Wipro
5. IBM
Top 5 pure play ES providers (by revenue):
1. Altran
2. Alten
3. AVL
4. AKKA Technologies
5. AF
Europe has the highest number of ES providers, with more than half of the companies in the list (52%) headquartered in the region. APAC and North America follow at 32% and 14% of the companies, respectively.
About Everest Group
Everest Group is a consulting and research firm focused on strategic IT, business services, engineering services, and sourcing. We are trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well-informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empowers clients to improve organizational efficiency, effectiveness, agility and responsiveness. What sets Everest Group apart is the integration of deep sourcing knowledge, problem-solving skills and original research. Details and in-depth content are available at http://www.everestgrp.com.
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SOURCE Everest Group
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