EPAM Named a Leader in Gartner® Magic Quadrant™ for Custom Software Development Services, Worldwide 2024

Rhea-AI Summary

EPAM Systems (NYSE: EPAM) has been positioned as a Leader in Gartner's Magic Quadrant™ for Custom Software Development Services, Worldwide 2024. The recognition highlights EPAM's expertise in building and modernizing solutions, particularly leveraging Generative AI technology. The company's capabilities span across modern technologies including machine learning, cloud-native solutions, composable architecture, API-first approaches, microservices, serverless computing, data-mesh, multi-experience, hyperautomation, blockchain, and IoT to deliver scalable solutions.

Positive

• Recognition as a Leader in Gartner Magic Quadrant for Custom Software Development Services
• Strong positioning in both Completeness of Vision and Ability to Execute categories
• Demonstrated expertise in modern technologies including GenAI, cloud-native, and blockchain

Negative

• None.

Recognized for Completeness of Vision and Ability to Execute

NEWTOWN, Pa., Oct. 29, 2024 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced that Gartner has positioned it as a Leader in the Magic Quadrant™ for Custom Software Development Services. 

"We believe this placement reflects EPAM's ability to help our clients build new solutions, modernize existing ones and leverage significant investments in GenAI to enhance our service delivery," said Elaina Shekhter, Chief Marketing and Strategy Officer at EPAM.

"Gartner has recognized us, for what we believe is a leading vendor in modernizing and creating next-generation products and platforms," said Eli Feldman, CTO, Advanced Technologies at EPAM. "We feel this recognition highlights our expertise in accelerating custom software development [engineering] solutions using the most modern technologies, including Generative AI, machine learning, cloud-native, composable architecture, API-first, microservices, serverless, data-mesh, multi-experience, hyperautomation, blockchain and IoT to deliver reliable, scalable solutions to help our clients succeed."

A Gartner Magic Quadrant is a culmination of research in a specific market, giving readers a wide-angle view of the relative positions of the market's competitors. By applying a graphical treatment and a uniform set of evaluation criteria, a Magic Quadrant helps clients quickly ascertain how well technology providers are executing their stated visions and how well they are performing against Gartner's market view.

See in the report below what EPAM was recognized for including composable software, leveraging Generative AI and positive client experience - Download the full report here.

To learn more about EPAM's approach to modern engineering, visit epam.com/services/engineering.

GARTNER is a registered trademark and service mark and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner, Magic Quadrant for Custom Software Development Services, Gunjan Gupta, Jaideep Thyagarajan, Katie Gove, Will Grant, Luis Pinto, 15 October 2024

About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services, and a leading business and experience consulting partner for global enterprises and ambitious startups. We address our clients' transformation challenges by fusing EPAM Continuum's integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients' time to market and drive greater value from their innovations and digital investments.

We make GenAI real with our AI LLM orchestration, testing and engineering solutions, EPAM DIAL, EPAM EliteA™ and EPAM AI/RUN™, respectively.

We deliver globally, but engage locally with our expert teams of consultants, architects, designers and engineers, making the future real for our clients, our partners and our people around the world.

We believe the right solutions are the ones that improve people's lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market.

Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor and Newsweek as a Top 100 Best Workplace, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, and Worldwide Experience Design Services and Worldwide Software Engineering Services.

Learn more at www.epam.com follow us on LinkedIn.

Forward-Looking Statements
This press release includes certain statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Such forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, the closing of the Acquisition, which may not close on the terms or timing anticipated, or at all, the satisfaction or waiver of any conditions to the closing of the Acquisition, the anticipated impacts or benefits of the Acquisition, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets and the broader economy, and the effect that these events may have on client demand and our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in our most recent Annual Report on Form 10-K and the factors discussed in our Quarterly Reports on Form 10-Q, particularly under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and other filings with the Securities and Exchange Commission. Although we believe that these forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law. 

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SOURCE EPAM Systems, Inc.

FAQ

What recognition did EPAM Systems (EPAM) receive from Gartner in 2024?

EPAM Systems was named a Leader in the Gartner Magic Quadrant for Custom Software Development Services, Worldwide 2024, recognized for both Completeness of Vision and Ability to Execute.

What key technologies does EPAM (EPAM) specialize in for custom software development?

EPAM specializes in Generative AI, machine learning, cloud-native, composable architecture, API-first, microservices, serverless, data-mesh, multi-experience, hyperautomation, blockchain, and IoT technologies.

When was EPAM (EPAM) recognized in the Gartner Magic Quadrant report?

The Gartner Magic Quadrant report recognizing EPAM was published on October 15, 2024.