Mindtree Named a Major Contender in Everest Group’s Industry 4.0 Services PEAK Matrix Assessment 2022
Mindtree, a global technology services and digital transformation company, announced that it has been named a Major Contender in Everest Group’s Industry 4.0 Services PEAK Matrix Assessment 2022. This was Mindtree’s debut in Everest Group’s assessment of engineering service providers for their Industry 4.0 leadership.
Everest Group positioned Mindtree as a Major Contender in terms of market impact, and vision and capability. The following were among Mindtree’s strengths highlighted in the report:
- Mindtree has experience in serving customers via all major commercial constructs such as time and material, fixed price and outcome-based.
- Mindtree has a strong partner ecosystem and internal capabilities to deliver engagements centered around cloud, analytics, IIoT, and intelligent technologies (AI/ML).
- Mindtree’s acquisition of NxT has boosted capabilities across IIoT, AI/ML, and analytics, particularly for use cases involving shop floor automation, connected equipment, asset tracking, predictive maintenance, analytics-driven decision-making, etc.
As part of the assessment, Everest Group evaluated 22 engineering service providers across the globe. According to the report, Major Contenders are ‘actively making investments in establishing centers of excellence (CoEs) and developing IP and solutions in areas such as AI/ML, cloud, analytics, IIoT, edge computing, and blockchain for enhancing their capabilities and presence and bridging capability gaps across service functions that have hitherto not been a major focus’.
Mindtree was rated highly for market adoption (number of clients, revenue base, YoY growth, and deal value/volume), portfolio mix (diversity of client/revenue base across geographies and type of engagements), vision and strategy (vision for the client and itself; future roadmap and strategy), and scope of services offered (depth and breadth of services portfolio across service subsegments/processes).
“Driving digital transformation from the edge to experience requires a thorough integration of technology and human processes into a seamless whole powered by data-generated insights, machine learning, and automation,” said Sriram Kumaresan, Global Business Head of Mindtree NxT. “Amid rapidly evolving competition, business models, regulation, and customer needs, our Industry 4.0 capabilities spanning operations, employees, products, and experiences help not just deliver superior productivity, agility, and differentiation, but also drive better human capacities and sustainable growth. This recognition by Everest Group validates our ability to help our clients unlock the potential of Industry 4.0 technologies in realizing efficient, responsible, and resilient value chains for the benefit of people as well as planet.”
“Mindtree has emerged as a Major Contender in Everest Group’s Industry 4.0 Services PEAK Matrix® Assessment 2022. The company has positioned itself as a credible provider in the Industry 4.0 space by offering solutions leveraging IIoT, analytics, and AI/ML,” said Nishant Udupa, Practice Director at Everest Group. “The acquisition of L&T-NxT has further helped Mindtree to gain significant traction in the IoT and analytics space. The company has made dedicated investments in developing IPs, such as Asset-NxT, Insight-NxT, Worker-NxT and Geospatial-NxT in areas such as IIoT and AI/ML, and in building a comprehensive partner ecosystem comprising of technology providers, cloud vendors, and IoT-focused organizations. Clients have particularly acknowledged Mindtree’s domain expertise, talented pool of engineers, and ability to tailor digital solutions for the client’s domain.”