Engineering Services Top 50 - 2021
Service Provider Recognition

2 Jun 2021

What is the Everest Group Engineering Services (ES) Top 50™?

The Everest Group Engineering Services Top 50™ is a global list of the 50 largest third-party providers, based on their ES revenues and year-on-year growth. This is the third edition of the definitive listing.

Note: Engineering services includes all activities (across software, embedded, mechanical, and process engineering functions) that support the design, development, testing, and management of products, both hardware and software.

Why the Everest Group Engineering Services Top 50™?

In 2020, ES providers demonstrated high client commitment amid the COVID-19 crisis, as they successfully shifted 90-95% of their engineering talent to remote delivery within weeks. Despite these efforts, however, outsourcing slowed down significantly for a large part of 2020 due to canceled projects and decision-making delays. Signs of recovery started appearing toward Q4 2020, when several service providers entered into US$10 million+ deals, many of which centered on digital engineering themes.

The slowdown’s impact and the pace of recovery have varied significantly for service providers, depending on their exposure across verticals and service functions. These factors, combined with continued M&A activity during 2020, have led to significant changes in how ES providers fare against each other.

This report provides a clear and objective overview of the third-party services market and how ES providers compare against each other. It will assist both enterprises, in identifying the top ES providers and their functional coverage, and ES providers, in benchmarking themselves against their peers. It will also be useful for other parties interested in the space, such as private equity and venture capital firms.

How is the Everest Group Engineering Services Top 50™ determined?

There are two distinct steps involved in determining the Engineering Services Top 50:

  • (1) Criterion: Only the 50 largest service providers, based on their previous year’s (for this report, CY 2020) ES revenue, qualify for the Engineering Services Top 50 assessment
  • (2) Rank determination: Service providers are ranked based on the previous year’s (CY 2020) ES revenue and year-on-year growth. Growth comprises two parameters: absolute growth (measured as change in ES revenue in US$ million) and percentage growth (measured as percentage change in ES revenue)