#Service Provider Deals
A leading North American transportation major awarded LTTS a $40 million contract to support them in fleet modernization across areas of vehicular control, simulation technology, Next Gen Communications, Cybersecurity and integration of the latest technology components into the core logistics platform for the customer.
EIIR POV: Good to see large deals won by engineering service providers in transportation sector by combining different services.
#Service Provider Results
KPIT Results. Q4 FY23 Revenue $124M, QoQ Growth 12.1 %, YoY Growth 42.1%. FY23 Revenue $418M, YoY Growth 27.4%. FY24 Guidance: 27-30%
EIIR POV: Industry leading growth numbers achieved by KPIT for the last quarter. Also highest revenue growth guidance for FY 24 among ESPs.
#Enterprise R&D Center
SAP laid off 300 employees in India Feb 23, but now plans to hire 1000 employees in India this year. SAP Labs employs 14K employees in India.
EIIR POV: Is it a sign of a turnaround in tech from layoffs to hiring? Cautious Optimism!
Tech Mahindra Unveils Generative AI Studio to Help Enterprises Bootstrap Generative AI
EIIR POV: Service proviers are developing Generative AI and GPT capabalities to help enterprises.
Segula Technologies is launching its Middle East business through establishing two offices with 200 engineers to support its customers in the energy, aerospace, defence, rail, manufacturing, naval, and automotive sectors, covering the full scope of competencies from design to manufacturing engineering. Segula?s new offices are located in Masdar City in Abu Dhabi, United Arab Emirates, and in Cairo, Egypt.
EIIR POV: Localization is driving autmotive engineering opportunities in MENA. European ESPs are prepaing to capture this opportunity.
#Business Model Innovation
ThoughtSpot, the AI-Powered Analytics company, today announced the acquisition of all employees of SagasIT Analytics, an analytics consulting services company based in Bangalore. All the talent acquired are data solutions specialists who will form the India Customer Center of Excellence (CCOE) to support ThoughtSpot?s global go to market team and will be responsible for advancing customer outcomes through implementation, adoption strategies, community response management and overall account management and customer success for global accounts.
EIIR POV: ISVs are acquiring service providers and converting them into GICs.
Infosys rolled out its Private 5G-as-a-Service to accelerate business value for its enterprise clients worldwide. HPE and Infosys are working together by combining HPE?s Private 5G solutions with Infosys as-a Service offering and pre-integrated vertical use-cases for faster customer value realization.
EIIR POV: 5G is bringing more players such as HPE in the NEP game and it is opportunity for engineering service providers to partner with them as Infosys is doing.
#IT OT Integration
Siemens introduces Industrial Operations X, an open and interoperable portfolio for automating and operating industrial production. The new portfolio is part of Siemens Xcelerator, the open digital business platform comprising a portfolio of software and connected hardware, an ecosystem of partners, and a marketplace.
EIIR POV: ISVs are investing in IT-OT integration solutions making them software defined and part of larger Indusry 4.0 solutins. This will remove hardware software silo and simplify enerprise Industry 4.0 journey. Engineering service providers will have role to play in this.
Honeywell has set up a sustainability centre of excellence in Madurai which would serve as a hub for support in engineering, innovation and collaboration on sustainability initiatives
EIIR POV: Enterprises are leveraging Tier 2 ad Tier 3 cities in India for their engineering footprint even in emerging areas such as sustainability.
Changi Airport Group teams up with Accenture to launch digital wonderland ChangiVerse, its metaverse initiative. It is the first virtual experience being developed by an airport on Roblox.
EIIR POV: Thought metaverse buzz is down it is good to see a metaverse initiative of an airport in partnership with ESP. Travel vertical could be an early adopter of Metaverse.