L&T Technology Services said that it has partnered with Aspen Technology, an asset optimization software firm, to offer a suite of digital engineering solutions across global enterprises. This will allow customers to optimize the performance of their assets and achieve operational excellence through cloud hosting and virtualization.
Antonio Pietri, President & CEO, Aspen Technology said, “The process manufacturing industry is undergoing a significant change as more companies take advantage of advanced technologies like AI, machine learning and the cloud to better operate their critical assets. Our partnership with LTTS is about giving our joint customers the capabilities they need to optimize their operations and improve their engineering capabilities, so we feel that this partnership will help process manufacturing companies accelerate their digital transformation journeys and adapt to changing conditions when needed.”
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Cloud services is being increasingly adopted by organizations for new projects or to replace existing programs. According to Verified Market Research, the current global cloud engineering market is estimated to grow at a CAGR of 22.13% from 2019 to 2026.
Amit Chadha, Deputy CEO & Member of the Board, L&T Technology Services said, “LTTS’ partnership with AspenTech will provide holistic, end-to-end solutions in delivering asset performance and enhancing operational efficiency. LTTS is excited to combine its engineering domain expertise across critical industries with AspenTech’s purpose-built software platforms to deliver higher returns over the entire asset lifecycle”.
As an AspenTech Managed Hosting partner, LTTS’ cloud engineering services will provide design, delivery and support for compute, storage and virtual network infrastructure in the cloud. As an AspenTech Implementation Service Provider, LTTS will also bring its proven digital engineering capabilities and domain expertise across the entire engineering and manufacturing life cycle to leverage artificial intelligence, machine learning, IoT services and analytics.