Persistent Systems and Happiest Minds leveraged the power of AI and global delivery models to drive impressive growth in Q4FY24. By embracing cutting-edge technologies and optimizing delivery strategies, these companies were able to deliver software product engineering services more efficiently, meeting growing client demands. Onshore-heavy providers, on the other hand, faced challenges in scaling their operations due to labor shortages and increasing costs. To remain competitive, these providers must innovate, explore global talent, and embrace automation to stay ahead in the market.