Software product management is evolving rapidly as organizations push for faster innovation, sharper customer focus, and measurable business outcomes. Product managers are no longer just roadmap custodians; they now orchestrate complex workflows, integrate fragmented toolchains, and lead in navigating rising delivery expectations. Their role now demands doing more with less, across an increasingly interconnected and high-pressure environment. Systems of Execution (SoE) represent a new operating paradigm that combines AI, automation, and orchestration to streamline execution across the product lifecycle. By linking insights to decisions and decisions to actions, SoE empower product teams to act with real-time intelligence and remain closely aligned with strategic goals. In this Viewpoint, we examine product managers’ evolving responsibilities, the systemic challenges constraining modern product organizations, SoE’s transformative potential, and how leading enterprises are adopting SoE to improve delivery speed, cross-functional alignment, and business impact. Scope Industry: all Geography: global Contents In this viewpoint, we examine: The product management industry’s evolution and its key challenges SoE as a paradigm that unifies AI, automation, and orchestration for smarter execution How product organizations can implement SoE to streamline workflows, enhance speed, and stay aligned with business goals

The growing demand for personalization and the integration of software into traditional engineering products have driven the rise of connected products. These products evolve by incorporating technologies that make them smart, connected, and autonomous, enabling greater transparency, operational efficiency, and robustness across industries. Key technologies such as IoT, AI/ML, AR/VR, 5G, and data analytics are attracting significant investments as enterprises strengthen their digital portfolios. Most companies are at varying digital adoption stages, ranging from isolated applications to large-scale deployments. As the connected product market rapidly evolves and remains highly competitive, enterprises must continuously innovate and accelerate time-to-market. Many collaborate with partners to access niche skills and reduce costs while globally diversifying their value chains. In this report, we assess the connected product engineering market, identify key technology and business trends impacting the market, and study the challenges and opportunities that lie ahead. The report also examines how providers align with customer requirements and enhance their capabilities to become partners of choice in connected product engineering. Scope Industry: engineering services Geography: global Contents In this report, we examine: Enterprise research and development spending on connected product engineering, growth drivers and use cases by verticals, business and technology growth drivers, and enterprise maturity levels Key trends and investment themes influencing spending, such as platforms for connected devices, talent demand, and generative AI integration with connected products The outsourcing landscape, assessing the growth of connected product engineering services and how providers are adapting to meet market demands Membership(s) Engineering Research and Development Sourcing and Vendor Management

In today’s competitive industry landscape, technology is vital in the product engineering domain to deliver superior customer experiences. To meet customer needs and develop connected, smart, and autonomous products, enterprises are investing in gen AI, AI/ML, AR/VR, 5G, cloud connectivity, IoT, and cybersecurity. However, rapid innovation, talent shortage, and the need to stay ahead of market trends underscore the significance of establishing a compelling partnership ecosystem to accelerate time-to-market. To address this demand, engineering service providers are enhancing their capabilities to unlock connected products’ data potential, integrate multiple technologies for improved user experiences, and develop technically advanced connected products. This compendium provides accurate, comprehensive, and fact-based snapshots of 21 engineering service providers’ capabilities and offerings. Each profile offers a detailed overview of the provider’s vision, solutions, partnerships, and investments in connected product engineering. Scope Industry: engineering research and development services Geography: global This report is based on Everest Group’s RFI responses in 2023, interactions with leading engineering service providers and their connected product engineering leadership, client reference checks, and an ongoing analysis of the engineering services market Contents In this report, we: Examine connected product engineering services business, including engineering and design, embedded and network engineering, and connected platform engineering capabilities Categorize providers as Leaders, Major Contenders, and Aspirants Assess each provider’s vision, capability, and market impact Compare providers’ key strengths and limitations Membership(s) Engineering Research and Development Sourcing and Vendor Management

In today’s fiercely competitive landscape across industries, technology plays a vital role in both product engineering and delivering exceptional customer experiences. To meet customer needs and enable the development of connected, smart, and autonomous products, enterprises are investing in next-generation technologies such as generative AI, AI/ML, AR/VR, 5G, cloud connectivity, IoT, and cybersecurity. However, the rapid pace of innovation, scarcity of talent at scale, and the need to stay ahead of market trends underscore the importance of establishing a compelling partnership ecosystem to accelerate time-to-market. To address this growing demand from enterprises, engineering service providers are actively enhancing their capabilities and offerings to unlock the potential of data from connected products, integrate multiple technologies for enhanced user experiences, and engineer technically advanced connected products. In this report, the first edition of Everest Group’s Connected Product Engineering Services PEAK Matrix® Assessment with a focus on engineering and design, embedded and network engineering, and connected platform engineering capabilities, we evaluate 21 engineering service providers and their positioning on the PEAK Matrix® framework. The report also examines providers’ key strengths and limitations vis-à-vis enterprise sourcing considerations. Scope Industry: Engineering Research and Development services Geography: global This study is based on RFI responses from providers, interactions with their connected product engineering leadership, client reference checks, and an ongoing analysis of the engineering services market Contents In this report, we examine: Connected Product Engineering Services PEAK Matrix® Assessment 2024 with a focus on engineering and design, embedded and network engineering, and connected platform engineering capabilities Key characteristics of Leaders, Major Contenders, and Aspirants A summary dashboard capturing the relative assessment of each provider’s vision and capability and market impact Providers’ key strengths and limitations vis-à-vis enterprise sourcing considerations Membership(s) Outsourcing Excellence Engineering Research and Development

Recessionary concerns exerted a significant influence on enterprise decision-making in 2023, driven by factors such as depleting pandemic savings, high-interest rates, global demand slowdown, rising oil prices, and ongoing geopolitical uncertainties. Despite these challenges, enterprises displayed adaptability and strategic responsiveness to emerging trends while actively pursuing profitability and optimizing costs. As a result, global Engineering Research and Development (ER&D) spending continued its upward trajectory. At the same time, as enterprises prioritized profitability and streamlined discretionary spending, ER&D services outsourcing grew at a slower-than-expected pace. In this research, we examine the key macroeconomic and technology trends that will shape ER&D spending and outsourcing in 2024. Scope Industry: ER&D Geography: global Contents This research presents Everest Group’s view on the key macroeconomic and technology trends that will shape ER&D spending and outsourcing in 2024. Membership(s) Engineering Research and Development Software Product Engineering Services Sourcing and Vendor Management  

The widespread digitalization trend in various industries has prompted enterprises to integrate software and advanced technologies into their products and offerings, aiming for quicker time-to-market and greater cost efficiency. In response, top providers have actively partnered with enterprises to meet evolving customer expectations. The PEAK Matrix® Provider of the Year awards assist enterprises in identifying exceptional providers with robust capabilities and effective service strategies that align with the evolving demand for enterprise engineering services. In this research, we present our 2023 PEAK Matrix® Provider of the Year awards for engineering services providers, to recognize companies that consistently exhibit leadership and top performance across key themes influencing engineering R&D in 2022. Scope We selected the Engineering Services PEAK Matrix® Provider of the Year award winners based on the consolidated scores that the providers achieved in the Leaders, Major Contenders, Aspirants, and Star Performers positions on our PEAK Matrix® evaluations. During the CY’22, 55 providers were featured across ten engineering services PEAK Matrix® evaluations. The awards were determined based on performance across the following segments − Industry 4.0, software products engineering, digital products engineering, digital twins, and connected medical devices. Contents The award categories in the research include: ES Top 15 – recognizing the top 15 providers of engineering services based on a consolidated scoring of rankings within the PEAK Matrix® reports Top 5 ES Challengers – recognizing the next 5 providers that are credible partners for enterprises and are positioning themselves as rivals to leading participants

As we enter 2023, global macroeconomic stability continues to remain uncertain. Forecasts of an impending recession are gripping businesses worldwide, compelling them to adopt a cautious outlook toward business growth in the coming year. Most organizations are focused on minimizing cost pressures in the face of growing inflationary pressures, especially as providers seek to increase bill rates. What sets this recession apart from previous ones is the significant talent demand and supply gap. For the past few years, the talent demand-supply gap has been a growing concern in the Engineering Services (ES) industry and is expected to persist even during the current recessionary environment. Moreover, as demand for services stabilizes after the high pent-up demand in 2022, the recessionary pressures are expected to impact the industry even more. Today, the challenge is to withstand these uncertain times while managing the talent gap. In this report, we provide insights into how leading global enterprises have been impacted in 2022 and are planning to develop resiliency during this unpredictable period. Scope Services: engineering All industries and geographies Contents In this report, we: Examine the top business challenges and critical changes to business models in 2022 Present the outlook and priorities for 2023 Discuss key themes defining the ES industry during these uncertain times Predict changes to provider portfolios and the significant provider-related challenges and priorities Membership(s) Engineering Services Sourcing and Vendor Management

With digital initiatives and experiences continuing to take center stage in the enterprise transformation agenda, design and prototyping tools will play an important role in accelerating enterprises’ transformation journeys. Enterprises should adopt design-led development to build software products and invest in the right tools, talent, and standardizing and scaling design processes across their product teams. This Everest Group research will help enterprises to identify the evaluation parameters for tool selection and devise adoption and scaling strategies. Scope All industries and geographies Market segment: application services Sources leveraged: analyst inputs, Everest Group research (covering recruiters, industry experts, and industry associations), ongoing interactions with enterprises, service providers, and technology providers, and publicly available secondary data sources Contents In this research, we propose a way for enterprises to future-proof their application strategies by studying: The current state of design and prototyping in software product development Design and prototyping tools adoption among enterprises The scaling of design processes across enterprises Membership (s) Application Services Sourcing and Vendor Management

As you are aware, recent advances in technology have led to a massive digital wave in the engineering world, with smart, connected, autonomous, and intelligent physical and hardware products taking center stage. To meet the needs of the current generation of consumers and provide a rich user experience, tech and engineering leaders, such as yourself, are finding that investments in next-generation technologies and talent have become crucial in successfully building digital product engineering businesses. Join us as our experts delivered a deep understanding of the digital product engineering market, the trends impacting this space, and potential avenues and opportunities that leaders should examine. Our experts explored: The size and expected growth of digital product engineering and how it compares to traditional engineering Digital product engineering spend across industries Relevant use-cases from an enterprise adoption standpoint and what will gain the most traction Approaches to gauging digital product engineering vendor performance The most relevant skillsets for digital product engineering initiatives Challenges enterprises may face when considering a play in this market

Technology has become crucial to both product engineering and the delivery of high-quality customer experiences amid cutthroat competition among industries. To cater to customer needs and develop connected, smart, and autonomous products, enterprises are investing in next-generation digital technologies such as Artificial Intelligence (AI) / Machine Learning (ML), Augmented Reality (AR) / Virtual Reality (VR), 5G, blockchain, Internet of Things (IoT), and cybersecurity. However, the rapid pace of innovation, unavailability of digital talent at scale, and the need to stay ahead of market trends necessitate a compelling partnership ecosystem that can accelerate enterprises’ time-to-market. To address this growing demand, engineering service providers are enhancing their capabilities and offerings to unlock the potential of data from connected products, integrate multiple technologies for a better user experience, and engineer technologically sound digital products. This report examines the dynamics of the digital product engineering service provider market and presents detailed profiles of 30 leading engineering service providers featured on Everest Group’s Digital Product Engineering Services PEAK Matrix® assessment. Each profile provides a comprehensive picture of the service provider’s focus on digital product engineering services, key Intellectual Property (IP) / solutions, buyer case studies, partnerships, and domain investments. The report also includes our insights on enterprise sourcing considerations for each service provider. Scope Industry: ER&D / Engineering services Geography: global This study is based on RFI responses from service providers, interactions with their digital product engineering leadership, client reference checks, and an ongoing analysis of the engineering services market Contents This report features 31 digital product engineering service provider profiles, each of which includes: Key strengths and limitations of each of the 30 digital product engineering services providers featured in our PEAK Matrix® assessment An overview of the providers’ digital product engineering services business and offerings – vision & strategy, revenue across industry verticals, geographies, value chain elements, and digital product engineering projects by buyer sizes An assessment of case studies, IP/solutions, partnerships, and domain investments Membership(s) Engineering Services Sourcing and Vendor Management