Global Engineering Services Outsourcing Industry

Global Engineering Services Outsourcing Industry

  • April 2021 •
  • 149 pages •
  • Report ID: 5960687 •
  • Format: PDF
Abstract:
- Global Engineering Services Outsourcing Market to Reach $2.1 Trillion by 2027
- Amid the COVID-19 crisis, the global market for Engineering Services Outsourcing estimated at US$318.4 Billion in the year 2020, is projected to reach a revised size of US$2.1 Trillion by 2027, growing at a CAGR of 31.1% over the analysis period 2020-2027. Consumer Electronics, one of the segments analyzed in the report, is projected to record a 31.5% CAGR and reach US$432.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Automotive segment is readjusted to a revised 31.8% CAGR for the next 7-year period.
- The U.S. Market is Estimated at $95.7 Billion, While China is Forecast to Grow at 30.2% CAGR
- The Engineering Services Outsourcing market in the U.S. is estimated at US$95.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$362.1 Billion by the year 2027 trailing a CAGR of 30.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 28% and 26.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 21.9% CAGR.
- Telecom Segment to Record 31.2% CAGR
- In the global Telecom segment, USA, Canada, Japan, China and Europe will drive the 31.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$46.3 Billion in the year 2020 will reach a projected size of US$309.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$254 Billion by the year 2027.

- Select Competitors (Total 47 Featured) -
  • Accenture LLP
  • EPAM Systems Inc.
  • Flatworld Solutions Pvt. Ltd.
  • GlobalLogic
  • HCL Technologies Limited
  • Infosys Limited
  • Jytra Technology Solutions Pvt. Ltd.
  • Luxoft, a DXC Technology Company
  • Tata Consultancy Services Limited
  • Tech Mahindra Limited
  • Wipro Limited