Dublin, March 11, 2020 (GLOBE NEWSWIRE) -- The "Engineering Services Outsourcing Market Size, Share & Trends Analysis Report by Service (Designing, Prototyping, System Integration, Testing), by Location, by Application, by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global engineering services outsourcing market size is expected to reach USD 2.47 trillion by 2027, registering an estimated CAGR of 29.2% from 2020 to 2027.
Multiple attributes of the outsourced service offerings including low costs, application of information technology in varied industries, and globalization of R&D and engineering are anticipated to fuel the growth.
Over the last decade, the engineering services outsourcing (ESO) industry has evolved abruptly, wherein the engineering service providers (ESPs) traditionally provided solutions required by the original equipment manufacturers (OEMs) at each of product lifecycle ranging from conceptualization to aftermarket support services.
With the advent of technology advancements, ESPs are now leveraging analytics, automation and IT related services-largely been used in product design and development-in their portfolios to cater the expectations of their customers. Furthermore, the proliferation of wireless communications, distributed computing, big-data capabilities, and sensor technologies are rapidly transforming the technology landscape.
The emergence of fundamental technologies, such as, blockchain, digital reality, virtual reality (VR), augmented reality (AR), internet of things (IoT), and cognitive technologies is expected to harness innovation, maintaining operational integrity of the businesses. These technologies have surfaced to be a critical factor in digital transformation services, modernizing the core systems of the OEMs and thereby increasing the potential of ESO at a global scale. As a result, the global engineering centers (GECs) are now investing heavily in R&D for broadening the scope of their service offerings to their customers.
Further key findings from the study suggest:
- The automotive segment accounted for over 20% of the total revenue share of the market in 2019.
- The designing segment is anticipated to witness the fastest growth over the next eight years with an anticipated CAGR of 31.3% between 2020 and 2027 owing to the rising demand for latest technologies for product designing and visual designing to enhance the end-user experience.
- Asia-Pacific ESO market accounted for the largest revenue share in 2019 and is anticipated to continue dominating the overall market over the forecast period.
- The key players in engineering services outsourcing market are Wipro Limited, Infosys Limited, Tech Mahindra Limited, Tata Consultancy Services Limited, HCL Technologies Limited, Alten GmbH, Infosys Ltd., and Altran Technologies S.A.
Key Topics Covered
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Introduction
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.2 Market Restraint/Challenges Analysis
3.3.3 Industry Opportunities
3.4 Penetration & Growth Prospect Mapping
3.5 Business Environment Analysis Tools
3.5.1 Porter's Five Forces Analysis
3.5.2 Pest Analysis
Chapter 4 Services Estimates and Trend Analysis
4.1 Market Size Estimates & Forecasts and Trend Analysis, 2016 - 2027 (USD Billion)
4.2 Services Movement Analysis & Market Share, 2019 & 2027
4.3 Designing
4.4 Prototyping
4.5 System Integration
4.6 Testing
4.7 Others
Chapter 5 Location Estimates and Trend Analysis
5.1 Market Size Estimates & Forecasts and Trend Analysis, 2016 - 2027 (USD Billion)
5.2 Location Movement Analysis & Market Share, 2019 & 2027
5.3 Onshore
5.4 Offshore
Chapter 6 Application Estimates and Trend Analysis
6.1 Market Size Estimates & Forecasts and Trend Analysis, 2016 - 2027 (USD Billion)
6.2 Application Movement Analysis & Market Share, 2019 & 2027
6.3 Aerospace
6.4 Automotive
6.5 Construction
6.6 Consumer electronics
6.7 Semiconductors
6.8 Pharmaceuticals
6.9 Telecom
6.10 Others
Chapter 7 Regional Estimates & Trend Analysis
7.1 ESO market by region, 2019 & 2027
7.2 Regional Movement Analysis & Market Share, 2019 & 2027
7.3 North America
7.4 Europe
7.5 Asia Pacific
7.6 Latin America
7.7 Middle East & Africa (MEA)
Chapter 8 Competitive Analysis
8.1 Key Global Players, Recent Developments & Their Impact on the Industry
8.2 Key Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
8.3 Key Company Ranking Analysis, 2019
Chapter 9 Competitive Landscape
9.1 Alten GmbH
9.2 Altair Engineering, Inc.
9.3 Altran Technologies S.A.
9.4 ASAP Holding GmbH
9.5 AVL List GmbH
9.6 Akka Technologies
9.7 Bertrandt
9.8 EDAG Engineering GmbH
9.9 ESG Elektroniksystem- Und Logistik-GmbH
9.10 FEV Group
9.11 Horiba Ltd.
9.12 IAV GmbH
9.13 ITK Engineering GmbH
9.14 Kistler Instrumente AG
9.15 M Plan GmbH
9.16 P+Z Engineering GmbH
9.17 P3 Automotive GmbH
9.18 RLE International Inc.
9.19 Cybage Software Pvt. Ltd
9.20 Cyient (Infotech Enterprises Ltd.)
9.21 EPAM Systems Inc.
9.22 GlobalLogic Inc.
9.23 Hcl Technologies
9.24 Infosys Ltd.
9.25 KPIT Technologies Limited (KPIT)
9.26 Luxoft
9.27 Mindtree Ltd.
9.28 Mindfire Solutions
9.29 Pactera Technology International Limited (Pactera)
9.30 Quest Global Services Pte. Ltd.
9.31 Sonata Software
9.32 Tata Elxsi Limited
9.33 Tata Consultancy Services Limited
9.34 Tech Mahindra Limited
9.35 Wipro Limited
For more information about this report visit https://www.researchandmarkets.com/r/ad55c2
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