#LTTS๐ revenues has grown at a CAGR of 10.9% in the last five years whereas #TataElxsi revenues has grown at a CAGR of 8.1% during the same period. Increased demand for digitisation has been driving #LTTS๐ revenue growth.
#TataElxsi and #LTTS๐ are among the niche leading engineering, research and development (ER&D) services providers in the world.
Both are fighting to grab maximum market share.
Both are fighting to grab maximum market share.
Outsourced ER&D penetration in most of ๐LTTSโs verticals is still in the low to mid-teens, implying significant scope for an increase in outsourcing.
#LTTS๐ is well placed to capture overall demand momentum as it is one of d top pure-play ER&D services companies globally. It works with 57 of top 100 global ER&Dย spenders.
There is an acceleration of digitization within ER&D. Overall ER&D spending is expected to touch $1.7-1.9 trillion by 2023 from $1.4 trillion in 2020.
#LTTS๐ is witnessing increased traction for outsourcing from its enterprise clients as clients have revisited core and non-core spending and are more open to outsource entire non-core areas of ER&D spending, leading to expanding deal sizes.
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