L&T Technology Services has been rated in the Leadership zone across 6 industry verticals – Industrial Products, Telecom, Automotive, Construction & Heavy Machinery, Energy, Transport. In Aerospace, we are almost on the cusp of leadership and ahead of most of our competition in the overall rating.
In the Industrial Products vertical, we continue our run at the #1 position in the leadership zone for the fourth year in a row.
Zinnov’s annual Global Service Provider Rating is an exhaustive exercise that covers over 50 companies in the ER&D space. The participants are analysed across key parameters like Human capital, product development capabilities, financials, ecosystem linkages, infrastructure & innovation / IP creation, their non-linear strategy, lab infrastructure and customer relationships.
The global R&D spend stands at $577 Billion from the top 500 R&D spenders in the world. The study estimates that by 2020 the Indian outsourced ER&D services market will reach $15 Billion growing at a CAGR of 13%. Currently $6.9 Bn is delivered from Service providers in India.
The robust ER&D market growth along with our leadership position reaffirms our belief that we will continue our journey as a true engineering partner for Global fortune 500 companies.