Global Engineering Services Outsourcing Market 2024-2028

Engineering Services Outsourcing Market 2024-2028

The engineering services outsourcing market is forecasted to grow by USD 378.1 bn during 2023-2028, accelerating at a CAGR of 25.74% during the forecast period. The report on the engineering services outsourcing market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by cost savings from lower labor wages, reduced time to market and improved access to emerging markets, and growing focus on core competencies/lack of in-house expertise.

Technavio's engineering services outsourcing market is segmented as below:

• By End-user
• Automotive
• Consumer electronics
• Telecom
• Semiconductor
• Others
• By Sourcing
• Offshore
• Onshore
• By Geographical Landscape
• North America
• APAC
• Europe
• South America
• Middle East and Africa

This study identifies the collaborative co-innovation partnership with outsourcing firms as one of the prime reasons driving the engineering services outsourcing market growth during the next few years. Also, increasing digital transformation in organizations and growing adoption of artificial intelligence will lead to sizable demand in the market.

The report on the engineering services outsourcing market covers the following areas:

• Engineering services outsourcing market sizing
• Engineering services outsourcing market forecast
• Engineering services outsourcing market industry analysis

The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading engineering services outsourcing market vendors that include Altair Engineering Inc., Alten SA, Capgemini Service SAS, Cyient Ltd., Deaton Engineering Inc., EPAM Systems Inc., FEV Consulting GmbH, Flatworld Solutions Inc., HCL Technologies Ltd., Hitachi Ltd., Honeywell International Inc., Infosys Ltd., Leedeo Engineering S.L., Mahindra and Mahindra Ltd., Quest Services Pte. Ltd., Siemens AG, Sonata Software Ltd., SSA Business Solutions India, Tata Consultancy Services Ltd., and Wipro Ltd.. Also, the engineering services outsourcing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.