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    Eiirtrend Weekly 11 Feb 24 To 17 Feb 24

    Uploaded by

    PrabhatSharma
    1) Musashi Seimitsu announces a new development center in Bengaluru, India in partnership with SCTM Engineering to expand its electric axle lineup for compact EVs targeting markets in India, Southeast Asia, and Africa. 2) EPAM reported 4% revenue growth in Q4 2023 and flat revenue growth for 2023, and guided for 1-4% revenue growth in 2024, indicating a cautious outlook for onshore software product engineering. 3) Cadence and Dassault Systemes launched a collaboration integrating their design and simulation software to reduce design turnaround time for electromechanical systems by up to 5 times.

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    Eiirtrend Weekly 11 Feb 24 To 17 Feb 24

    Uploaded by

    PrabhatSharma
    14 views2 pages
    1) Musashi Seimitsu announces a new development center in Bengaluru, India in partnership with SCTM Engineering to expand its electric axle lineup for compact EVs targeting markets in India, Southeast Asia, and Africa. 2) EPAM reported 4% revenue growth in Q4 2023 and flat revenue growth for 2023, and guided for 1-4% revenue growth in 2024, indicating a cautious outlook for onshore software product engineering. 3) Cadence and Dassault Systemes launched a collaboration integrating their design and simulation software to reduce design turnaround time for electromechanical systems by up to 5 times.

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    eiirtrend-weekly-11-Feb-24-To-17-Feb-24

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    1) Musashi Seimitsu announces a new development center in Bengaluru, India in partnership with SCTM Engineering to expand its electric axle lineup for compact EVs targeting markets in India, Southeast Asia, and Africa. 2) EPAM reported 4% revenue growth in Q4 2023 and flat revenue growth for 2023, and guided for 1-4% revenue growth in 2024, indicating a cautious outlook for onshore software product engineering. 3) Cadence and Dassault Systemes launched a collaboration integrating their design and simulation software to reduce design turnaround time for electromechanical systems by up to 5 times.

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    14 views2 pages

    Eiirtrend Weekly 11 Feb 24 To 17 Feb 24

    Uploaded by

    PrabhatSharma
    1) Musashi Seimitsu announces a new development center in Bengaluru, India in partnership with SCTM Engineering to expand its electric axle lineup for compact EVs targeting markets in India, Southeast Asia, and Africa. 2) EPAM reported 4% revenue growth in Q4 2023 and flat revenue growth for 2023, and guided for 1-4% revenue growth in 2024, indicating a cautious outlook for onshore software product engineering. 3) Cadence and Dassault Systemes launched a collaboration integrating their design and simulation software to reduce design turnaround time for electromechanical systems by up to 5 times.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Week No.

    7 -2024

    Weekly Updates: 11 Feb 24 to 17 Feb 24


    Highlights with EIIR (Pareekh) Point of View (POV)

    Musashi Seimitsu announces the launch of the MIDC (Musashi India Development Center) Project in
    Electronic City, Bengaluru, India. Collaborating with SCTM Engineering, a JV of Sumitomo and Tech
    Mahindra, Musashi aims to expand its high-performance e-Axle lineup for compact and quiet two &
    three-wheeled EVs to target mass production and sales in India, Southeast Asian countries (e.g.,
    Thailand, Indonesia, Vietnam), and Africa.

    EIIR POV: Another large engineering service deal in automotive. This time from Japan and also for local
    emerging markets in India, ASEAN and Africa.

    EPAM Q4CY23 Results, Revenue $1157M, 0.4% QoQ Growth and -6.0% YoY Decline. CY23 Results,
    Revenue $4691M, -2.6% YoY Decline. CY24 Guidance. 1%-4% Growth

    EIIR POV: 2024 Guidance suggests that while situation has bottomed out for onshore software product
    engineering, outlook is still cautious with very moderate growth exectations.

    Fictiv has released Materials.AI, an industry-first AI assistant powered by ChatGPT that helps
    mechanical engineers quickly and easily navigate material options for their manufacturing needs.

    EIIR POV: Interesting GenAI use case in material selection.

    Cadence and Dassault Systmes launch cloud-enabled collaboration for developing


    Electromechanical Systems Virtual Twins. Integrating Cadence's AI-driven OrCAD X and Allegro X
    with Dassault Systmes' SOLIDWORKS, the partnership offers an end-to-end solution for PCB,
    mechanical design, and simulation. This collaboration aims to reduce design turnaround time by up
    to 5X for customers.

    EIIR POV: Engineering cloud for electromechanical systems combining designa and simulation
    software from Cadence and Dassault.

    1.
    Cognizant opened its first office in Bhubaneswar. The new centre is spread over 52,000 sq ft and is
    designed to accommodate 1,000 of the companys associates in a hybrid work environment and is
    located at Odisha Technology Centre.

    EIIR POV: Engineering service providers are opening centers in tier 2 and tier 3 cities in India.

    Globant launches Connected Experiences Studio, leveraging technology expertise to drive customer-
    centric growth. With a focus on bridging physical and digital realms, the studio aims to deliver
    personalized, engaging interactions. Supported by industry demand, the studio collaborates with
    leading clients like Nissan and Royal Caribbean International to create tailored solutions across
    sectors.

    EIIR POV: Software product engineering service providers are investing in digital in physical industries.

    LTTS and BlackBerry collaborate to offer suite of automotive technologies for SDVs. Through this
    collaboration, LTTS will leverage BlackBerry QNX automotive solutions to enable Software Defined
    Vehicles for global OEMs.

    EIIR POV: Engineering service providers are investing in partnerships for SDV.

    SEGULA Technologies expands Tooling Automation Systems (TAS) division to the US to meet rising
    demand for production facility modernization. TAS specializes in automated production line design,
    enhancing SEGULA's process engineering services in the US. With 400 employees in Europe, TAS is
    the market leader for integrators for automakers and automotive suppliers.

    EIIR POV: European engineering service providers are investing and expanding in US.

    2.

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