Engineering Services Start-ups are Shaping the Future

Nandini Mukherjee, Managing EditorThe engineering services industry has evolved over the last 20 years. Over this period, customer expectations and service offerings from suppliers have changed. Commoditization of IT, maturity of services, adoption of new technology trends like Internet of Things(IoT), analytics, and sustainability-related technologies is fuelling the growth of engineering services in the country. Unlike in the past, India-based global service providers(GSPs)have been considered for more strategic roles like co-innovation and joint development projects, which are based on a risk-sharing model. Engineering services has
traditionally included services required at each stage of the product lifecycle, from conceptualization to retirement. Product design and development, which is core to the engineering function, have long leveraged IT through tools and databases and through the automation of certain processes.

Organizations often require a variety of specialized engineering services when developing a new product, process, or a service. This includes concept development, design elements, prototyping of the product or service itself, plus the infrastructure, equipment, and processes involved in their manufacture, maintenance, or delivery. Several start-ups have tapped the opportunities that engineering services market is presenting currently. These start-ups are integrating IT more tightly into the design of products so that technology envelopes and enables them. Smart machines and equipments are engineered with built-in IT so that it connects to a smart platform for predicting, preventing and scheduling maintenance.

Identifying the same, in our current edition, we have featured a list of “10 Best Startups in Engineering Services”. The list features innovative start-ups that act as experts and assist organizations to sustain profitable growth and help them unlock the true potential of product portfolio. These start-ups believe a tightly integrated product-service combination can be used to solve real time problems rather than mere products.
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