Engineering Services Outsourcing Market Worth $2.47 Trillion By 2027 “The global engineering services outsourcing market size is anticipated to reach USD 2.47 trillion by the end of 2027. The market is projected to register a CAGR of 29.2% over the forecast duration. Factors such as globalization of research and development activities are increasing the application of IT in different industries attributing to the growth of the market.”
The global engineering services outsourcing market size is anticipated to reach USD 2.47 trillion by the end of 2027. The market is projected to register a CAGR of 29.2% over the forecast duration. Factors such as globalization of research and development activities are increasing the application of IT in different industries attributing to the growth of the market. There has been significant growth in engineering services outsourcing in the last few years as service providers offered solutions required at each stage of the product development lifecycle. With the emergence of innovative technologies, market players are emphasizing on using technologies such as automation, big data analytics and cloud computing, thereby enhancing their product offering. The emergence of innovative technologies such as digital reality augmented reality, IoT, virtual reality and others has helped businesses in maintaining operational efficiency. These technologies have helped in modernizing core service for OEMs and thus, increased the ESO potential. Asia Pacific was the leading region in 2019 and the region is projected to continue its domination over the forecast duration. Easy and cost-effective availability of skilled workforce in countries such as India and China is attributing to the regional growth. While Latin America is anticipated to witness the highest CAGR of more than 30% over the forecast duration, primarily because of rapid infrastructural development in the region.
Request Sample Copy of This Market Research @ https://www.millioninsights.com/industry-reports/global-engineering-services-outsourcing-market/request-sample
Further key findings from the report suggest: • In 2019, the automotive segment accounted for the highest CAGR of more than 20% over the forecast duration. • The designing category is likely to grow at a CAGR of 31.3% over the forecast duration owing to increasing demand for latest technologies for product designing. • Asia Pacific accounted for the largest share in the market and the region is expected to continue its domination over the forecast period. • Leading players involved in the engineering services outsourcing market are Infosys Limited, Tata Consultancy Services Limited, Alten GmbH, Altran Technologies, Wipro Limited, Tech Mahindra and others.
Browse Full Research Report @ https://www.millioninsights.com/industry-reports/global-engineering-services-outsourcing-market
Million Insights has segmented the global engineering services outsourcing market on the basis of services, location, application, and region: ESO Services Outlook (Revenue, USD Billion, 2016 - 2027) • Designing • Prototyping • System Integration • Testing • Others ESO Location Outlook (Revenue, USD Billion, 2016 - 2027) • Onshore
• Offshore ESO Application Outlook (Revenue, USD Billion, 2016 - 2027) • Aerospace • Automotive • Construction • Consumer Electronics • Semiconductors • Pharmaceuticals • Telecom • Others ESO Regional Outlook (Revenue, USD Billion, 2016 - 2027) • North America • U.S. • Canada • Mexico • Europe • Germany • U.K. • France • Asia Pacific • China • India • Japan • Latin America • Brazil • Middle East & Africa
See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/computing-and-technology
Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.
Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com
Global Headquarters
Million Insights Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States Phone: 1-408-610-2300 Email: sales@millioninsights.com
Asia Pacific Million Insights Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India Phone: 91-20-65300184