Dublin, Dec. 29, 2023 (GLOBE NEWSWIRE) -- The "Engineering Services Outsourcing - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Engineering Services Outsourcing Market to Reach $3.6 Trillion by 2030
The global market for Engineering Services Outsourcing estimated at US$1.1 Trillion in the year 2022, is projected to reach a revised size of US$3.6 Trillion by 2030, growing at a CAGR of 16.6% over the analysis period 2022-2030.
This report provides a comprehensive analysis of the Engineering Services Outsourcing (ESO) industry, offering insights into the opportunities and challenges faced by companies operating in this sector. It offers a detailed overview of the global ESO market, including key competitor market shares in 2022 and an assessment of competitive market presence on a global scale.
Testing, one of the segments analyzed in the report, is projected to record 17.4% CAGR and reach US$1.3 Trillion by the end of the analysis period. Growth in the Designing segment is estimated at 18.4% CAGR for the next 8-year period.
The report introduces readers to ESO, providing foundational knowledge about Engineering Services Outsourcing and its critical role across various industries. It also explores the advantages that ESO brings to businesses while addressing potential risks and challenges associated with outsourcing engineering services.
Furthermore, the report delves into the historical development of the ESO industry and its growing popularity as a strategic business approach. It identifies and analyzes key market trends that are shaping the ESO market, including both growth drivers and restraining factors.
The ESO market is analyzed by examining various services offered within the sector, such as testing, designing, prototyping, system integration, and more. Additionally, the report explores how different industries leverage ESO by examining its applications in sectors like industrial, healthcare, telecom, automotive, aerospace, and others.
The U.S. Market is Estimated at $243.6 Billion, While China is Forecast to Grow at 22% CAGR
The Engineering Services Outsourcing market in the U.S. is estimated at US$243.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$607.8 Billion by the year 2030 trailing a CAGR of 22% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.2% and 16.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 306 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.1 Trillion |
| Forecasted Market Value (USD) by 2030 | $3.6 Trillion |
| Compound Annual Growth Rate | 16.0% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Market for Engineering Services Outsourcing Amid the Pandemic
- Engineering Services Outsourcing: Benefits Outweigh the Disadvantages
- Engineering Services Outsourcing to Surge, Immense Opportunities for IT Service Companies
- Market for Digital Engineering Services - Major Trends
- IT Services Outsourcing: An Overview
- Outsourcing to Emerging Economies Drives Overall Demand
- Auto OEMs Prefer Outsourcing of Services for Better Product Integration and Cost Savings
- Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022
- Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
- Opportunities in Electronics Industry
- Global Electrical & Electronics Equipment Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
- Supply Chain Disruptions Impact a Large Number of Electronic Manufacturers: % Share of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of May 2020
- Increasing Demand in Industrial Manufacturing Sector
- Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines
- Established Role in Aerospace Industry
FOCUS ON SELECT PLAYERS(Total 55 Featured)
- GlobalLogic, Inc.
- Altair Engineering, Inc.
- Edison Welding Institute, Inc.
- L&T Technology Services Ltd.
- EPAM Systems, Inc.
- Flatworld Solutions Pvt., Ltd.
- DXC Luxoft
- HARMAN Connected Services
- PM Group
- Alten SA
- Cybage Software Pvt. Ltd.
- Cyient Ltd.
- Backoffice Pro
- Capgemini Engineering (France)
- Kevin Technologies Pvt Ltd
For more information about this report visit https://www.researchandmarkets.com/r/vwqbri
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