Product Engineering Services Market Report 2023 | Insights, Analysis, And Forecast 2032

Product Engineering Services Market Segments

The Business Research Company segments it’s product engineering services market report as:

By Service Type

Product and Component Design, Process Engineering, Maintenance, Repair and Operations

By Organization Size

SMEs, Large Enterprises

By Verticals

Automotive and Transportation, Aerospace and Defense, Healthcare, IT and Telecom

Market Statistics

The global product engineering services market size grew from $906.86 billion in 2022 to $984.04 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The product engineering services market size is expected to grow to $1352.29 billion in 2027 at a CAGR of 8.3%.

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Key Market Drivers And Trends

Drivers

Increasing use of internet penetration is expected to propel the growth of the product engineering services market

Trends

Technological advancements are a key trend gaining popularity in the product engineering services market.

Region

North America was the largest region in the product engineering services market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the product engineering services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Key Market Players

Major players in the product engineering services

market are:

▪ ALTEN Group

▪ AVL

▪ HCL Technologies

▪ AKKA Technologies

▪ IBM Corporation

▪ And more.

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