In the product engineering domain, software remains the largest expenditure, continuing its upward momentum in the face of recessionary pressures, geopolitical conflicts, talent shortages, and delayed enterprise decision-making. Despite these macroeconomic challenges, several key factors are driving software R&D’s evolution. These include a shift toward platform-based business models, AI- / gen AI-augmented secure products’ increased adoption, a strong focus on sustainability, and a heightened emphasis on customer and developer experiences. As enterprises navigate these transformative trends amid economic uncertainty, their expectations from providers are evolving. They now seek strategic partners that can offer not just engineering talent, but also cost savings, speed, and innovation. This report, the fifth edition of Everest Group’s Software Product Engineering Services PEAK Matrix® Assessment, evaluates 37 engineering service providers, positioning them on the PEAK Matrix&® framework and offering enterprise sourcing considerations. Scope Industry: Software Product Engineering Services (SPES) Geography: global The study is based on RFI responses from providers, interactions with their SPES leadership, client reference checks, and an ongoing analysis of the SPES market Contents In this report, we examine: Everest Group’s PEAK Matrix® evaluation of SPES providers The characteristics of Leaders, Major Contenders, and Aspirants Providers’ key strengths and limitations, market impact, and vision and capabilities Membership(s) Software Product Engineering Services Sourcing and Vendor Management

In the product engineering space, software remains the largest area of expenditure, maintaining its upward trajectory despite a slower pace. This deceleration is primarily due to recessionary headwinds, geopolitical conflicts, talent shortages, and delayed decision-making within enterprises. Amid this macroeconomic turbulence, several themes continue to drive software R&D forward. These include transitioning to platform-based business models, increasing the adoption of AI- and gen AI-augmented secure products, prioritizing sustainability, and enhancing customer and developer experiences. The shift toward these transformative themes, coupled with the current economic climate, is significantly altering enterprises’ expectations from their providers. Rather than solely seeking providers focused on offering engineering talent, enterprises now aspire to engage with strategic partners capable of delivering savings, speed, and innovation simultaneously. This report, the fifth edition of Everest Group’s Software Product Engineering Services PEAK Matrix® Assessment, evaluates 43 engineering service providers, positioning them on the PEAK Matrix® framework and offering insights into enterprise sourcing considerations. Scope Industry: software product engineering Geography: global The study is based on RFI responses from providers, interactions with their software product engineering services leadership, client reference checks, and an ongoing analysis of the software product engineering services market Contents In this report, we examine: Everest Group’s services PEAK Matrix® evaluation of engineering service providers associated with software product engineering services The characteristics of Leaders, Major Contenders, and Aspirants Providers’ market impact and vision and capabilities Providers’ key strengths and limitations Membership(s) Software Product Engineering Services Outsourcing Excellence