Engineering service providers who demonstrated critical capabilities to enterprises over the past year are now being recognized for their leadership with the 2023 PEAK Matrix Service Provider of the Year™ awards in engineering services (ES). Read on to find out who’s providing the top engineering services based on Everest Group research.
Activity in the Engineering R&D (ER&D) sector remained largely resilient during 2022, with service providers witnessing significant growth across themes such as platformization, digital engineering, and Industry 4.0. Amid this landscape, a few engineering service providers distinguished themselves by showcasing significant capabilities and market impact across all these leading investment themes.
We have identified the top 15 ES service providers and five leading ES challengers for the 2023 PEAK Matrix Service Provider of the Year awards in engineering services.
State of the ER&D industry
ER&D spending and outsourcing remained resilient in 2022, though there was some growth deacceleration as compared with 2021 on account of uncertainty around the Ukraine-Russia conflict, talent shortages and rising wage inflation, and bleak global economic forecast.
Enterprises remained committed to enhancing their products, services, and processes on the back of digital technologies. Service providers, by means of their scaled talent availability, domain know-how, and IP investments, supported these enterprises in realizing faster time-to-market and cost efficiencies for their engineering initiatives.
The PEAK Matrix Provider of the Year awards helps enterprises identify leading service providers who have demonstrated strong capabilities and market success across multiple engineering domains.
This year’s results are based on assessments from five PEAK Matrix® reports published by Everest Group in the calendar year of 2022 that looked at the following key themes influencing ER&D over that period:
- Industry 4.0 services
- Software products engineering
- Digital products engineering
- Digital twins
- Connected medical devices
The Engineering Services PEAK Matrix Provider of the Year awards were determined by consolidating tiered scores for Leader, Major Contender, Aspirant, and Star Performer positions across each of the individual evaluations mentioned above. The two award categories are:
- ES Top 15: Engineering service providers with the highest consolidated scores based on the evaluation
- ES Top 5 Challengers: The next five top engineering services providers who are credible partners for enterprises and are positioning themselves as rivals to leading players