L&T Technology Services (LTTS) gets recognized as a Leader for development and verification & validation services in Industry 4.0 by the Everest Group
L&T Technology Services (LTTS), one of India’s leading software services companies, has been recognized as a Leader for development and verification & validation services in Industry 4.0 by the consulting and research firm, Everest Group.
In its report – PEAK Matrix for Industry 4.0 Service Provider 2020 – Everest Group has identified LTTS among the six leading companies in the market based on various parameters such as market adoption, portfolio mix, value delivered, innovation & investments, delivery footprint, and vision and strategy.
“The focus of LTTS on the development and verification and validation (V&V) in the Industry 4.0 segment is evident from the fact that this service function accounts for over 50 percent of the firm’s revenue from Industry 4.0 services,” said Akshat Vaid, Vice President, Everest Group. “The firm’s dedicated investments in V&V labs infrastructure and CoEs catering to next-generation themes such as IIoT, AI/ML, cloud engineering, robotics, and cybersecurity have significantly elevated its positioning among enterprises as a reliable Industry 4.0 service provider”, added Vaid. “Additionally, LTTS’ focus on IP development is reflected in a suite of solutions, including modular frameworks and platforms such as Aikno, nB-oN, and DFX, which helps enterprises enhance productivity and speed-to-impact in Industry 4.0 initiatives. LTTS’ vision for this. space, along with focused investments have helped them achieve a strong growth momentum in this market,” elaborated he.
According to the Everest Group, LTTS has a strong ability to drive a high level of innovation around Industry 4.0 that customers recognize, buoyed by robust investments in establishing dedicated infrastructure, developing a strong partner ecosystem and enhancing IP assets for Industry 4.0 services. The objective of the PEAK Matrix is to provide a data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into Leaders, Major Contenders, and Aspirants.
Amit Chadha, Deputy CEO & Member of the Board, L&T Technology Services Ltd, said, “The advancements in the Industry 4.0 landscape have witnessed rapid traction with businesses across sectors realizing its true potential. With a rich engineering DNA combined with our leadership position in engineering services, LTTS has been at the forefront of introducing pioneering innovations in this space. We are delighted to receive this latest recognition from an independent research body as globally acclaimed as Everest Group and further resolve to usher in newer benchmarks in the domain of Industry 4.0”.
Qaisar
