Everest Group Announces Winners of 2021 PEAK Matrix Service Provider of the Year Awards for IT Services | Press Release
Accenture takes No. 1 for fifth straight year; TCS, Cognizant, Wipro and HCL round out the Top 5 IT service providers based on broad-based capabilities and successful service strategies
Everest Group—a consulting and research firm focused on strategic IT, business services and sourcing—today announced the winners of the 2021 PEAK Matrix Service Provider of the Year™ Awards for IT Services. The awards, now in their sixth 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 Top 20 IT Service Providers list for 2021 are Accenture, TCS, Cognizant, Wipro and HCL Technologies, in that order. Accenture retains its position at the top of the leaderboard for the fifth straight year. TCS, Cognizant and Wipro have been in the top five since Everest Group launched the rankings in 2016 and have retained their respective positions for the last two years. HCL Technologies edges out Capgemini this year for the No. 5 slot; the two companies have traded the No. 5 and No. 6 positions since 2019.
“The Top 20 IT Service Providers list identifies the best of the best – IT service providers with strong, broad-based capabilities and successful services strategies that align well with the evolving enterprise IT demand,” said Chirajeet Sengupta, partner at Everest Group. “Throughout the year, Everest Group evaluates 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 IT Service Provider of the Year awards recognize the IT service providers that truly set themselves apart.”
Four service providers improved their rankings:
- HCL Technologies moved from 6 to 5
- Infosys moved from 8 to 7
- Larsen & Toubro Infotech (LTI) moved from 16 to 11
- Deloitte moved from 15 to 12
New entrants to the list this year are Zensar, PwC and Coforge. CGI, UST and Hexaware exited the list in 2021. Overall, four service providers improved their rankings, seven service providers slipped, and six service providers maintained their position.
***All winners are listed in the report, “2021 PEAK Matrix Service Provider of the Year Awards for IT Services,” available for complimentary download here.***
Everest Group’s 2021 PEAK Matrix Service Provider of the Year Awards for IT Services also honor the Top ITS Challengers. This list recognizes the top 10 IT service providers with annual revenue of less than US$2 billion. The Top 3 ITS Challengers in 2021 are LTI, Virtusa and Mphasis.
“Although smaller in size, these challengers are credible alternatives to the leading players in the industry in certain niches,” said Abhishek Singh, vice president at Everest Group. “Challengers have successful service strategies that focus on specific solution segments, geographies or industries that align well with enterprise needs.”
Other Award Highlights:
Everest Group publishes the PEAK Matrix Service Provider of the Year Awards to recognize consistent top performers across PEAK Matrix assessments. In 2020, Everest Group published 26 PEAK Matrix reports, evaluating a total of 100 service providers in these eight segments of the IT services market:
2. Life sciences
3. Banking and financial services
4. Insurance services
5. Application services
6. Cloud and infrastructure services
7. Digital services
8. Enterprise platform services
In addition to recognizing top performers overall, Everest Group acknowledges Leaders and Star Performers in each of the eight industry segments. Leaders are determined by the number of leader positions an organization holds in the PEAK Matrix reports published across each category. Similarly, Star Performers recognize those organizations who achieve the greatest cumulative upward mobility from the previous year in the PEAK Matrix reports for each industry segment. A complete list of segment winners is included in the complimentary report.
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 consulting and research firm focused on strategic IT, business services, engineering services, and sourcing. Our clients include leading global enterprises, service providers, and investors. Through our research-informed insights and deep experience, we guide clients in their journeys to achieve heightened operational and financial performance, accelerated value delivery, and high-impact business outcomes. Details and in-depth content are available at http://www.everestgrp.com/