Everest Group Announces Winners of 2023 Engineering Services PEAK Matrix Provider of the Year Awards

HCL Technologies and TCS tie for No.1 on ranking of top engineering services providers; Mphasis named as Top Challenger


DALLAS, August 10, 2023 — Everest Group today released the second annual edition of its Engineering Services PEAK Matrix Provider of the Year™ Awards. These awards recognize the engineering services providers that have consistently ranked as top performers across Everest Group’s PEAK Matrix® assessments in the preceding year.

Everest Group PEAK Matrix evaluations are a valuable resource for engineering services buyers to evaluate, compare and contrast key providers in the global services space. In 2022, Everest Group published five engineering services PEAK Matrix® reports across 10 assessment areas, featuring 55 providers across all evaluations. Key services segments evaluated included digital products, digital twins, connected medical devices, Industry 4.0 and software products.


The Engineering Services Top 15:

  1. (Tie) HCL Technologies and TCS
  2. Accenture
  3. Cognizant
  4. (Tie) Capgemini and Wipro
  5. Infosys
  6. Mindtree
  7. GlobalLogic
  8. Tech Mahindra
  10. EPAM
  11. LTTS
  12. Globant
  13. Persistent Systems


Top 5 Engineering Services Challengers

  1. Mphasis
  2. Infogain
  3. Happiest Minds
  4. Softserve
  5. Cyient


*** Download a complimentary copy of the 2023 Engineering Services PEAK Matrix Provider of the Year Awards ***


“The Engineering Services PEAK Matrix Provider of the Year™ Awards recognize an elite group of engineering services providers who set themselves apart by exhibiting consistent leadership and top performance across many different categories,” said Akshat Vaid, partner at Everest Group. “More importantly, as today’s enterprises navigate the complex landscape of next-generation and legacy technologies, a global business footprint and a complex provider portfolio, the PEAK Matrix Provider of the Year Awards help them to identify the best of the best — providers with strong capabilities and successful services strategies that align well with the evolving enterprise engineering services demand.”

“Digital engineering is transforming businesses and helping efforts to create a sustainable world,” said Vijay Anand Guntur, president, Engineering and R&D Services (ERS), at HCLTech. “With over 45 years of engineering heritage and experience working with top R&D players across 10-plus verticals, HCLTech is uniquely positioned to partner with enterprises in their endeavor to leverage digital technologies to transform their business. We are glad to be recognized as the No. 1 player in Everest Group’s 2023 PEAK Matrix Provider of the Year award. This achievement is a testament to HCLTech’s record of being a preferred engineering services partner of Global 2000 companies in building innovative products and platforms.”

“We are benefiting immensely from our engagements with conventional businesses aspiring to transform themselves digitally to become software companies, software vendors seeking to modernize and rearchitect their products using cloud native technologies, and product companies embarking on product and business model innovation,” said Regu Ayyaswamy, global head, Internet of Things & Digital Engineering, at TCS. “Our deep domain expertise, industry leading portfolio of IP and design labs are helping clients launch new products faster and optimize their sustenance. Our investments in IoT and Digital Engineering, including the Bringing Life to Things framework, are helping product companies scale up innovation, leverage IoT, AI and machine learning to make those products more intelligent, software-defined and connected, and to embrace as-a-Service business models. The emergence of newer technologies is only accelerating this trend, so we are very excited about the opportunities ahead.”


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.


About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at http://www.everestgrp.com.

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