The global engineering services outsourcing market exhibited strong growth during 2015-2020.
Looking forward, the market is expected to grow at a CAGR of around 22% during (2021-2026). Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Engineering services outsourcing (ESO) refers to the process of hiring various non-physical engineering functions, such as designing, prototyping, system integration and testing, from an external source. These services are required at the early stages of the product design and development process and utilize various information-technology (IT)-based tools and databases. For instance, in the network and communications sector, ESO is used for hiring network design services, geospatial data analytics and inventory management. Apart from this, it also finds extensive applications in industrial automation, supply chain and product cycle management and remote monitoring of the devices.
Engineering Services Outsourcing Market Trends: Increasing industrial automation, along with the rising adoption of integrated solutions for analyzing and designing engineering systems, represents one of the key factors driving the growth of the market. Furthermore, widespread utilization of engineering systems, such as computer-aided design (CAD), computer-aided engineering (CAE), computer-aided manufacturing (CAM) and electronic design automation (EDA) software, is also driving the market growth. These software aid in enhancing the overall efficiencies of the production processes and can be operated by the user over smartphones, laptops and tablets. Various technological advancements and the incorporation of digital transformational services are acting as other growth-inducing factors. Original Equipment Manufacturers (OEMs) are integrating smart manufacturing systems, robotics and artificial intelligence (AI)-based solutions for improved modeling and detailing of the products, which is also creating a positive outlook for the market. Other factors, including the increasing utilization of strategic outsourcing services by the automotive, marine and offshore sectors, along with the development of 3D printing solutions, are expected to drive the market further.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global engineering services outsourcing market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, service, location and application.
Breakup by Service: Designing Prototyping System Integration Testing Others
Breakup by Location: Onshore Offshore
Breakup by Application: Aerospace Automotive Construction Consumer Electronics Semiconductors Pharmaceuticals Telecom Others
Breakup by Region: North America United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Accenture Plc, Altair Engineering Inc., ALTEN, Cybage Software Pvt. Ltd., EPAM Systems Inc., HCL Technologies Limited, Infosys Ltd., QuEST Global Services Pte. Ltd., Sonata Software Limited, Tata Consultancy Services Limited, Tech Mahindra Limited (Mahindra Group) and Wipro Limited.
Our reports have been used by over 10K customers, including:
The radar™ for Economic Development determines a region’s future growth and development potential measured by its ability to enhance the quality of life for its citizens.This report explores key strengths and weaknesses of the global economy through country-level assessments of growth and innovation initiatives and benchmarks each country...
120 pages •
By Infiniti Research Limited
• Nov 2021
Global Fiber Based Packaging Market 2022-2026 The analyst has been monitoring the fiber-based packaging market and it is poised to grow by $ 75.37 bn during 2022-2026, progressing at a CAGR of 4.41% during the forecast period. Our report on the fiber-based packaging market provides a holistic analysis, market size and forecast,...
Braze Alloys Market Review 2021 and Strategic Plan for 2022 - Insights, Trends, Competition, Growth Opportunities, Market Size, Market Share Data and Analysis Outlook to 2028 Braze Alloys Market Market Overview Braze Alloys Market market is expected to register an attractive growth rate during the...
Report Scope: This report provides a detailed description of flexible manufacturing systems in the pharmaceutical industry and the latest technologies in the market. The report includes market estimates for different types of flexible manufacturing systems and also includes recent technological developments and assessments...
175 pages •
By The Business Research Company
• Sep 2021
Major players in the welding products market are The Lincoln Electric Company, Colfax Corporation, Illinois Tool Works Inc, Kemppi Oy, Kiswel Inc., Obara Corporation, Senor Metals Pvt. Ltd., Tianjin Bridge Welding Materials Co. Ltd., ESAB, and Ador Welding Ltd. The global welding products market is expected to grow from $12.10 billion...
175 pages •
By The Business Research Company
• Sep 2021
Major players in the 3D printed implants market are 3D Systems Corporations, Stratasys Ltd, Arcam AB, EnvisionTEC and SLM Solutions Group AG. The global 3D printed implants market is expected to grow from $0.14 billion in 2020 to $0.15 billion in 2021 at a compound annual growth rate (CAGR) of 7.1%. The growth is mainly due to the companies...
The global robot end effector market exhibited strong growth during 2015-2020. Looking forward, the analyst expects the market to grow at a CAGR of 12.4% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic...
Europe Computer Numerical Control Machine Market Size, Share & Trends Analysis Report By Type (Lathe Machines, Milling Machines, Laser machines), By End Use, By Country, And Segment Forecasts, 2021 - 2028 Europe Computer Numerical Control Machine Market Growth & Trends The Europe computer numerical...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.