Connected Product Engineering Services PEAK Matrix® Assessment 2024

In today’s fiercely competitive landscape across industries, technology plays a vital role in both product engineering and delivering exceptional customer experiences. To meet customer needs and enable the development of connected, smart, and autonomous products, enterprises are investing in next-generation technologies such as generative AI, AI/ML, AR/VR, 5G, cloud connectivity, IoT, and cybersecurity. However, the rapid pace of innovation, scarcity of talent at scale, and the need to stay ahead of market trends underscore the importance of establishing a compelling partnership ecosystem to accelerate time-to-market. To address this growing demand from enterprises, engineering service providers are actively enhancing their capabilities and offerings to unlock the potential of data from connected products, integrate multiple technologies for enhanced user experiences, and engineer technically advanced connected products.

In this report, the first edition of Everest Group’s Connected Product Engineering Services PEAK Matrix® Assessment with a focus on engineering and design, embedded and network engineering, and connected platform engineering capabilities, we evaluate 21 engineering service providers and their positioning on the PEAK Matrix® framework. The report also examines providers’ key strengths and limitations vis-à-vis enterprise sourcing considerations.