Everest Group Recognizes L&T Technology Services as ‘Leader’ in Automotive Engineering Services
LTTS has been ranked as ‘Star Performer’ for its progress and market impact
BENGALURU, INDIA--(Business Wire / Korea Newswire) December 16, 2019 -- L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, has been recognized as a ‘Leader’ and ranked among top service providers for Automotive Engineering Services by the consulting and research firm, Everest Group. LTTS has also been recognized as ‘Star Performer’ for its noteworthy progress across its automotive engineering capabilities and the resultant market impact.
In its report ‘Automotive Engineering Services PEAK Matrix™ Assessment 2019: Convergence of Mobility and Digital,’ Everest Group has classified 22 service providers in the Automotive Engineering Services PEAK Matrix™ based on various parameters such as market adoption, portfolio mix, value delivered, innovation & investments, delivery footprint, and vision and strategy.
According to Everest Group, LTTS’ strong domain expertise, well-diversified offerings of automotive engineering services’ across the globe, dedicated labs, and partnerships to boost portfolio growth have positioned LTTS as the star performer in the study. LTTS’ solutions - secure car platform, intelligent transportation monitoring system, Video Annotation Generation (VANGEN) tool, battery management solution, fleet mirror, smartphone integration solution - are the primary attributes for its leadership position.
Mr. Shailendra Shrivastava, Global Head - Ground Transportation, L&T Technology Services Ltd said, “The automotive industry is undergoing massive evolution pushed by innovative, precise and disruptive technologies. There has been massive change in the buying patterns of the global players with intensified demand for a new set of unique experiences for passengers. LTTS’ prowess in offering digital engineering services and solutions combined with its robust momentum has positioned LTTS as a market-leader among global automotive players. The recognition by Everest Group is a validation that LTTS successfully supports customers in providing sustainable and elegant engineering solutions.”
Mr. Akshat Vaid, Vice President, Everest Group said, “L&T Technology Services has emerged as a very strong player in the global automotive services market with significant focus on catering to global automotive hubs and customer segments. The company has a comprehensive portfolio of automotive engineering services spanning both digital and traditional workloads across the value chain. Their infrastructural investments into dedicated labs/COEs for product development and testing, as well as impactful frameworks designed to accelerate service delivery across automotive use cases have helped them accelerate growth. The company has also consistently invested in engineering research, in partnership with global academic institutions, helping them carve out a differentiator for themselves in an otherwise highly competitive market.”
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 51 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,700 employees spread across 17 global design centers, 28 global sales offices and 49 innovation labs as of September 30, 2019.
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L&T Technology Services Limited
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