The Everest Group, a consulting and research firm, has recognized L&T Technology Services Ltd as a ‘leader’ in development, testing, and evaluation services in Industry 4.0.
In its findings ‘Peak Matrix for Industry 4.0 Service Provider 2020’, the Everest Group identified ITTES in the top six companies in the market based on various parameters such as market adoption, portfolio mix, value transferinnovation, investment, and delivery footprint., Vision and strategy.
According to the Everest Group, LTTS has the potential to create high-level innovations around Industry 4.0, investing heavily in establishing dedicated infrastructure, developing strong partner ecosystems, and increasing IP assets for Industry 4.0 services by robust
The goal of the PEAK Matrix is to provide a data-based assessment of service & technology providers based on their overall potential and market influence across various global service markets, and classify them as “leaders”, “major competitors” and “aspirants”.
According to Akshat Vaid the Vice President, Everest Group, said that “LTTS’ focus on development and Verification and Validation (V&V) in the industry 4.0 service has evidenced that this service operates at 50% of the firm’s revenue from Industry 4.0 services.
The company’s dedicated investments in the infrastructure of V&V labs and next-generation themes such as IIoT, AI / ML, cloud engineering, robotics, and cybersecurity have significantly enhanced its position as a trusted industry 4.0 service provider.
Also, LTTS’s focus on IT development is reflected in solutions for modular frameworks and platforms such as Icono, NB-ON, and DFX, which increase productivity and accelerate entrepreneurship in industry 4.0 enterprises. LTTS ‘vision and centralized investment in this space have contributed to strong growth in this market are also added by Vaid.
Amit Chadha, Deputy CEO and Board Member, L&T Technology Services, said, “Industry 4.0 is rapidly advancing with businesses in the region, recognizing its real potential. Combining rich engineering DNA and our leadership position in engineering services, LTTS is at the forefront of introducing pioneering innovations in this space.
As an Everest Group, we are pleased to receive this latest recognition from an internationally acclaimed independent research firm, and are determined to bring new standards to the industry 4.0 domain,” Chadda added.