Advanced technologies like artificial intelligence (AI), machine learning (ML), the internet of things (IoT), 5G, robotics, cloud, automation, data and analytics, blockchain, and alternate reality and virtual reality (AR\/VR) are revolutionizing product design and development. As these new technologies emerge, there is a need for skilled talent, particularly in areas such as AI, ML, and data analytics.<\/p>\n
Additionally, the rise of new business models such as product servitization<\/em> (traditional episodic encounters being replaced by continuous personalized interactions) and platformization<\/em> (making platforms data ready to drive commerce and interactions between buyers, sellers, and suppliers) has further fueled the need for providers to offer expertise in business design, marketing, customer and supplier engagement to stay relevant. This trend is driven by enterprises’ needs to optimize data use, digitally enable processes, accelerate growth, achieve customer intimacy, and become true ecosystem participants.<\/p>\n Disruptors, Enterprise Innovators, and Market Leaders<\/strong><\/p>\n The HFS Horizons: Digital Engineering Service Providers, 2023<\/em> report examines service providers\u2019 roles in digital engineering. The HFS Horizons model aims to align enterprise objectives with service provider value. We assessed 25 service providers across their value propositions (the why), execution and innovation capabilities (the what), go-to-market strategy (the how), and market impact criteria (the so what) to best understand and plot the value they offer to their digital engineering clients.<\/p>\n Here are the results.<\/p>\n Note: All service providers within a Horizon are listed alphabetically<\/em><\/p>\n The new Horizons landscape demonstrates the providers\u2019 positions within the three Horizons:<\/p>\n The Rise of Smaller Players in the Booming Digital Engineering Services Industry<\/strong><\/p>\n The digital engineering services industry is a dynamic and rapidly evolving field, with many players offering a diverse range of technology and services. These players tend to be smaller, focusing on specialized niches within the industry. Despite their smaller scale, these service providers are experiencing impressive growth, with an average growth rate of 25%. Much of this growth can be attributed to North America’s booming market for digital engineering services. As this industry expands and develops, it will be interesting to see how these smaller players adapt and differentiate themselves from their competitors to remain competitive and relevant.<\/p>\n![\"\"](\"https:\/\/www.horsesforsources.com\/wp-content\/uploads\/2023\/03\/Horizon-Chart-2-1024x1024.jpg\")
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