The midsize service providers are moving strongly towardsthe top-pack and establishing themselves as leaders in R&D community. “The companies like Tata Elxsi, Aricent, MindTree, GlobalLogic, Polaris, Aditi, Tech Mahindra, Symphony and Sonata are fast closing in the gap with the market leaders like Wipro, TCS and HCL, as they are acting proactive regarding their business aspects and strategies after impact of recession,” said Karthik Ananth, Engagement Manager, Zinnov Management Consulting.
Symphony emerged as the leader in the software vertical, followed by Wipro and MindTree in global R&D. In telecom, Aricent emerged leader followed by Wipro and HCL. HCL continued its dominance in the aerospace and defence verticals, where it was followed by QuEST and Wipro. Wipro emerged dominant in the semiconductor and healthcare verticals.
In the last few months, midsize companies established software labs, moved into partnerships with different universities to grow their businesses. To highlight the emergence of these companies among top caters, Ananth said, “A Chennai based R&D company even has a backup team of 100 employees ready in Argentina, at the time of downturn and this defines their positive approach in this downturn market.”
The investments were highest in consumer electronics, semiconductors and medical equipments, as software and telecom emerged as the new areas of Outsource Product Development (OPD) in India. The midsized companies increased their focus in the domestic market in the defence, telecom and medical sectors.
In the current fiscal, with the growth of midsize companies in the global market, Indian R&D offshoring companies have emerged as the highest revenue generator with revenues between $9.9 to $10.1 billion, followed by Chinese firms with revenue of $8.5 to $8.3 billion and Russian and Central and Eastern European (CEE) firms with $1.5 to $1.7 billion revenues. The study rating included 40 companies from India, China, Russia and CEE.
The study rating is done by Zinov Management Consulting to establish a comprehensive list of the R&D companies in different geographies which included India, China, Russia and Eastern Europe.
Back to Top