Everest Group names 10 new challengers to the top 20 IT service providers, as stalwarts Accenture, Cognizant, IBM, TCS and Wipro lead the industry for the third consecutive year.
Everest Group—a consulting and research firm focused on strategic IT, business services and sourcing—today announced the winners of the 2018 PEAK Matrix Service Provider of the Year™ awards for IT services. The awards, now in their third year, recognize IT service providers who have demonstrated consistent leadership in the PEAK Matrix™ reports issued by Everest Group in the previous year.
Topping the 2018 Top 20 ITS Service Providers list are Accenture, TCS, Cognizant, Wipro and IBM, in that order. Accenture retains its position at the top of the leaderboard for the second year, and TCS moves up to second place (from fourth), leapfrogging Cognizant and IBM, who take the third-and fifth-place spots, respectively. Wipro claims the No. 4 spot, improving from fifth-place ranking in 2017.
***All winners are listed in the report, “2018 PEAK Matrix Service Provider of the Year Awards” available for complimentary download here.***
“Throughout the year, Everest Group evaluates service providers who are distinguishing themselves in the eyes of enterprises with their innovative service strategies,” said Jimit Arora, partner at Everest Group. “We also evaluate the service providers’ market success, their business strategies and how they are investing in the future. By taking all of that into account, these PEAK Matrix Service Provider of the Year awards recognize the IT providers that truly set themselves apart.”
New for this year’s awards, Everest Group names the Top 10 ITS Challengers—service providers with less than US$2 billion in annual revenue who are credible partners for enterprises in the digital-first era. LTI, Virtusa and Syntel top the inaugural list.
“Although smaller in size, these challengers are credible alternatives to the leading players in the industry in certain niches,” said Abhishek Singh, practice director at Everest Group. “Challengers have successful service strategies that focus on specific solution segments, geographies or industries that align well with enterprise needs.”
Everest Group also identifies Top Leaders and Star Performers in five market segments: Healthcare and Life Sciences (HLS); Banking, Financial Services and Insurance (BFSI); Cloud and Infrastructure Services (CIS); Application Services (AS); and Digital Services (DS). These honors are awarded to IT service providers who appeared in “Leader” or “Star Performers” positions most prevalently within the previous year’s PEAK Matrix reports specific to that segment.
Companies recognized either as Leaders of the Year, Star Performers of the Year, or both, include Accenture, Capgemini, Cognizant, IBM, Tata Consultancy Services, and Wipro.
Other Findings of Note
NTT Data made the most impressive move up the rankings, moving up ten places from No. 20 to No. 10. Seven additional service providers improved their rankings:
- TCS moved from No. 4 to No. 2.
- Wipro moved from No. 5 to No. 4.
- Infosys moved from No. 9 to No. 7.
- Tech Mahindra moved from No. 14 to No. 12.
- LTI moved from No. 16 to No. 13.
- Virtusa moved from No. 15 to No. 14.
- Syntel moved from No. 17 to No. 16.
New entrants to the ITS Top 20 list include Mphasis (No. 17) and Genpact (No. 20), and there were no exits from the list. DXC Technologies—a merged entity of CSC and HPE, both previous members of the list—appears for the first time at No. 9.
In 2017, Everest Group published 24 PEAK Matrix reports, evaluating a total of 67 service providers in various segments of the IT services market.
About the PEAK Matrix™
The Everest Group PEAK Matrix is a proprietary framework for assessing the relative market success and overall capability of service providers based on Performance, Experiences, Ability and Knowledge. Each service provider is comparatively assessed on two dimensions: market success and delivery capabilities. Market success is measured by revenue, number of clients and year-over-year growth. Delivery capability is measured by scale of operations, scope, technology and innovation, delivery footprint and buyer satisfaction. The resulting matrix categorizes service providers as Leaders, Major Contenders, and Aspirants. Companies that demonstrate strong upward movement in successive reports are recognized as Star Performers.