Major IT companies in India like Infosys (INFOSYS.BO : 2623.4 -37.25
), Cognizant and Accenture are gearing up for a big pick-up in the IT product development market, according to a Forrester report. The report, which covers the positions of the three IT companies in cashing in on the R&D-based product development market, says Cognizant now looks at
offshore products as another growth engine in order to be a top offshore service provider.
Over the past 18 months, Cognizant's R&D practice grew nearly 30% and it now has 6,500 resources across various sub-areas like software products, online platforms and industry-focused software products. The firm is now substantially larger than many many firms which specialise in these segments. Cognizant recently announced an Invensys partnership, in which the company re-badged more than 520 resources from Invensys' Hyderabad facility and secured two labs, as well as expertise in more niche product engineering areas like process control software and a railway operation management platform.
Infosys is another IT major looking to make it big in the product engineering development market. The company has already started modifying its product engineering divison's leadership and offshore delivery management with extended management and investment support. The company is building skills and capacities in new areas such as medical equipment, green, sustainability and network products and is also aligning this practice to its vertical-focused manufacturing and telecom sales team in order to achieve better internal support and position services in more-client situations.
To make the offerings complete, Infosys has also merged its mechanical engineering service practice with its product engineering practice to create an integrated engineering unit suitable to a large set of verticals that span across automotive, aerospace, healthcare, energy and various other high-tech verticals. While Infosys is yet to see a huge success in this space, it is clearly investing more to become a recognised player.
Riding the innovation wave
through investments in R&D expansion, Accenture will continue to invest substantially to create several innovation centres in Bangalore, New Jersey and Rome and generate intellectual property assets in domains such as enterprise mobility, user experience and convergence of device technologies and intelligent homes.
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