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 fourth 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™?
ES providers continued to boost their engineering capabilities and acquire companies to increase scale and gain access to new markets. In terms of outsourcing, the services industry bounced back strongly from 2020, driven by a softwarization and platformization wave, increase in deal momentum, and M&A activity toward software and digital engineering.
Service providers’ recovery rates have varied significantly depending on their exposure across verticals and service functions. These factors, in conjunction with supply chain disruptions and a high demand for cross-skilled and diverse talent, have resulted in significant changes in how ES providers compete.
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 enterprises in identifying the top ES providers and their functional coverage, and ES providers in benchmarking themselves against 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 2021) ES revenue, qualify for the Engineering Services Top 50 assessment
(2) Rank determination: Service providers are ranked based on the previous year’s (CY 2021) 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)
