SoftServe, a global IT company with Ukrainian roots, has been named a Challenger in Gartner’s Magic Quadrant 2023 report for Software Development Services. The company was recognized for its ability to execute and for the completeness of its vision. The quadrant also includes two other companies that are actively developing software in Ukraine – GlobalLogic and EPAM.
The Magic Quadrant reports are the result of thorough, fact-based research within specific markets. The reports provide a broad view of the provider positions in markets that are experiencing high growth rates and clear provider differentiation.
SoftServe is a contender in this magic quadrant, the report says. Headquartered in the United States, Gartner estimates that CSD revenue will grow by 30% year-over-year through December 2022. Of this revenue, 32% came from large customers, 27% from midsize customers, and 41% from smaller customers.
SoftServe’s CSD revenue breakdown is 86% in North America, 13% in EMEA and 1% in APAC. The top five industries by number of clients are Communications, Media & Services (primarily software and high-tech companies); Healthcare & Life Sciences; Retail; Manufacturing & Natural Resources; and Banking & Investment Services. SoftServe invests in deploying modern approaches to software development for clients that require innovation and next-generation solutions.
“SoftServe is a market-recognized partner of choice for some of the world’s most innovative technology providers and corporations,” said Alex Chubay, CTO of SoftServe. “Our approach takes a holistic perspective that encompasses business acumen, user experience, cloud and data engineering, and advanced technologies like generative AI to enable our customers to build award-winning digital products and transform their businesses.
For more than 30 years, SoftServe customers have relied on the best practices of a global team of highly skilled technology experts to provide unparalleled support and innovation in software development.
“We believe that SoftServe’s recognition as a Magic Quadrant Challenger is a culmination of the depth and breadth of our technology capabilities, decades of experience, and exceptional engineering talent that deliver world-class value solutions to our customers every day,” Chubay adds.
As for the other two companies, GlobalLogic is among the niche players.
According to the Gartner report, this clean services provider is headquartered in the United States, and Gartner estimates that CSD revenue will grow 35% year-over-year through December 2022. Of this revenue, 49% came from large customers, 27% from medium-sized customers, and 24% from small customers. The breakdown of GlobalLogic’s CSD revenue is 58% in North America, 2% in Latin America, 37% in EMEA and 3% in APAC.
GlobalLogic’s current and future focus is on helping clients develop new digital capabilities, design digital products, and build digital service platforms by integrating experience design, end-to-end engineering, and data expertise.
The company, which has more of a Belarusian roots, is a leader in this magic quadrant. This clean services provider is headquartered in the United States, and Gartner estimates that CSD revenue will grow by 38% year-over-year through December 2022.
Of this CSD revenue, 80% came from large clients and 20% from mid-sized clients. The breakdown of EPAM’s CSD service revenue is 60% from North America, no revenue from LATAM, 38% from EMEA and 2% from APAC.
The five largest industries by number of customers are telecommunications and technical services, retail, financial services, healthcare and insurance. Now and in the future, EPAM is focused on building best-in-class new systems for advanced customers.
The Magic Quadrant report is based on the criteria of a supplier’s ability to perform and have a complete vision.