ARC Advisory Group has published a new Technology Evaluation and Selection Guide designed specifically to help end users select the most appropriate Engineering Services (ES) supplier for their needs. When evaluating Global Service Providers (GSP) for product engineering, process engineering, automation related services, or maintenance related services, the right service partnership provides the basis for success. The right ES partner can add value by problem solving, innovating, and reducing the time-to-market.
The engineering services market has shown significant growth in the past few years due to the need for specialized and innovative IT services with cutting edge technology enablement. “A key driver of growth in this market is the increasing need for specialized expertise created by new technology trends like digital manufacturing, simulation, mobility, Big Data, the Internet of Things, analytics, and shifting business models," according to Ralph Rio, Research Director, ARC Advisory Group and the author of “Engineering Services Evaluation and Selection for Indian Global Service Providers”.
End Users of Technology Need Engineering Service Partners in Innovation
Engineering services provide concept development, product and industrial design, process automation, mechanical, electrical, embedded software, maintenance, asset management, product lifecycle related services, detailed engineering, testing, and prototyping. These services are critical for any business, and end users recognize GSPs as valued engineering partners who assist in problem solving with a business model that suits them. They provide a risk/reward model where payment schedules are mutually defined at stages, to suit both original equipment manufacturers (OEM) and the supplier of services. Risk-reward models are important especially when project timelines are tight, are outcome based, and cost control is critical.
Smart Manufacturing Poses More Challenges for End Users
The Internet of Things (IoT), digital manufacturing, digital platforms, analytics, and mobility are witnessing high growth. These technologies are also fueling the growth of engineering services. Thus, suppliers who can assist their customers to reach the next level in becoming “Smart” have an advantage. Suppliers need to invest in learning new technologies for greenfield or brownfield projects with enabling technologies such as 3D printing, connected plants, etc.
Critical to Select the Appropriate Engineering Service Provider
As the variety of services increase, so do the specific engineering requirements of customers. When making technology selection decisions, this makes it critical for organizations to accurately identify and weight the importance for a wide variety of technology selection criteria. The relatively large number of suppliers in this domain makes these types of selection decisions even more challenging.
ARC’s new Engineering Services Technology Evaluation and Selection Guide is designed to help industrial organizations make informed, impartial, fact-based technology selection decisions. The guide provides an in-depth analysis of the overall engineering services market, profiles of the leading engineering services suppliers based in India, recommended selection criteria, and a wealth of other relevant information.
For more information on this and a number of other ARC technology selection guides, readers can visit www.arcweb.com/technology-evaluation-and-selection.