HCL Technologies (HCL), a leading global technology company, announced that it has been recognized as a Leader in Everest Group’s Life Sciences Digital Services North America PEAK Matrix. As part of the analysis, Everest Group assessed the leading companies in North America poised to take advantage of what is expected to be a $4billion marketplace, and HCL Technologies was positioned among the Leaders of the 23 companies evaluated.
Life Sciences in both the consumer and enterprise segments are looking for rigorous implementation of digital technologies for business improvement and transformation. The market size for life sciences digital services in North America is currently estimated to be between $2.2b and $2.5b and is expected to grow at a rate of 15% to 20% between 2017 and 2020.
The top seven companies named in the report account for more than half of the market for digital services in North America. These companies are noted for supplying large customers, maintaining balanced portfolios, creating innovative digital use cases, and having a continual investment in technology and services.
“The vision that HCL has for its life sciences customers includes an end-to-end platform that will enable innovation and allow them to re-imagine their IT landscape for competitive advantage, and we have seen this vision become reality over the past few years,” said Shrikanth Shetty, Executive Vice President and North America Business Head for the Life Sciences and Healthcare (LSH) vertical at HCL Technologies. “Digital technologies are set to transform this industry, and HCL is well-poised to help our customers take advantage of the growth this technology will bring. Everest Group’s identification of HCL as Leader on the PEAK Matrix is a testament to our commitment and vision.”
Everest Group cited HCL’s significant momentum around a sizeable revenue base as well as credible use cases, such as the use of IoT for inventory in pharmaceuticals and medical devices. The report also mentioned HCL’s knowledge of technologies such as analytics, AI, cloud, IoT, and mobility.
“North American life sciences enterprises are getting serious about digital transformation. A mix of market changes and demand dynamics – including the need for faster time to market, acceleration of personalized medicine, movement towards value-based care, evolving patient expectations, and the boost from US tax reform – is driving the change,” said Nitish Mittal, Practice Director, Everest Group. “HCL Technologies is aligning itself to be a complementary partner for life sciences firms, through focus on offerings around analytics for R&D and clinical trials, as well as use cases for IoT in patient management and medical device inventory management.”