Company Also Noted as Breakout Contender in Industrial Segment
SOUTHBOROUGH, Mass., Jan. 25, 2022announced today that it has been ranked a leader in five segments in the annual Zinnov Zones for Engineering R&D 2021 ratingsthat evaluates global ER&D Service Providers for their prowess and capabilities. The five segments include overall ER&D Services, Digital Engineering Services, ER&D - US, Enterprise Software, and Telehealth. Virtusa was also recognized as a breakout service provider in the Industrial vertical segment.
The comprehensive study titled, 'Global ER&D Landscape and Evolving Enterprise Priorities - 2021' evaluated 50 global ER&D Service Providers across various industry verticals and micro-verticals. The 2021 Zinnov Zones assessment was unique because of the geographic evaluation done across high spending countries such as US, Germany, and Japan, where the primary parameters analyzed include investments, client success, and delivery capabilities for Engineering Services.
"According to the study, the Global ER&D spend by organizations worldwide will grow at a 9% CAGR to reach USD 2.1 trillion by 2024, with Digital Engineering spend accounting for more than 50% of the Global ER&D spend by 2024," said Samir Dhir, Global Markets and Industries CEO, Virtusa. "This is directly in Virtusa's wheelhouse, and our leadership positioning in so many of the market segments is a testament to the strength of our engineering capabilities, our top notch partner ecosystem and focus on innovating for clients. The demand for digital services in nearly all industries will continue growing due to newer technologies, industry players, and changing customer, employee, and partner interactions and expectations. Our new business opportunities will hopefully expand as worldwide business leaders use this study to begin seeking exceptional partners for faster and more efficient deployment of ER&D-led services."
Sidhant Rastogi, Managing Partner, Zinnov, said, "Virtusa's strong suit in both digital experience and design thinking-led innovation is reflected in its investments in IPs and solutions such as vLife (Healthcare and Life sciences Applications Marketplace) and vDataAid (Data Modernization solution). This, augmented with its digital implementation experience across verticals and pre-build warehouse of digital elements and services, has helped Virtusa successfully accelerate product development for its enterprise customers, in turn strengthening its position in the 2021 ER&D Zinnov Zones."
Zinnov Zones is an annual rating published by Zinnov which assesses Global Service Providers based on their competencies, capabilities, and market success. Since 2009, Zinnov Zones (previously known as GSPR - Global Service Provider Ratings) has become one of the most trusted reports globally, for both enterprises and Service Providers to better understand the vendor ecosystem across multiple domains such as Digital Transformation, ER&D Services, IOT, HIA, and Media and Entertainment.
This is the thirteenth consecutive year that Zinnov has assessed Service Providers for their ER&D capabilities. The detailed ratings and contact information of Service Providers are available at: https://zinnovzones.com/
About Virtusa
Virtusa Corporation is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovative engineering. Virtusa serves Global 2000 companies in the Banking, Financial Services, Insurance, Healthcare, Communications, Media, Entertainment, Travel, Manufacturing, and Technology industries.
Virtusa helps clients grow their business with innovative products and services that create operational efficiency using digital labor, future-proof operational and IT platforms, and rationalization and modernization of IT applications infrastructure. This is achieved through a unique approach blending deep contextual expertise, empowered agile teams, and measurably better engineering to create holistic solutions that drive the business forward at unparalleled velocity enabled by a culture of cooperative disruption.
Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.
