LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Product Engineering Services Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the professional services industry. This report breaks down the data and analysis behind the procurement of product engineering services and acts as an all-inclusive guide for making smart purchasing decisions.
“The global demand for product development services can be attributed to the increasing need of buyers to own proprietary software and technological solutions to gain a competitive edge and meet specific business requirements,” says SpendEdge procurement analyst Anil Seth. “There is a growing demand for support and advisory services that can help and train buyers on the effective use of technological innovations such as IoT and AI,” added Anil.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Product Engineering Services Market:
- Increasing emphasis on engaging clients by providing consulting services
- Increase in collaborations with technology-based startups
- The evolution of multiple delivery methods
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Increasing emphasis on engaging clients by providing consulting services:
In the product engineering services market, leading suppliers are increasingly entering into the consulting space to build strategic relationships with buyers and to diversify their business segments. This is due to the rise in adoption of technologies such as AI, IoT, social networking, mobile computing, cloud computing, and data storage systems in business processes by buyers to enhance efficiency and reduce the cost of operations. Moreover, consulting services help in reducing the contract management complexities associated with engaging multiple vendors and also reduces the overall cost of procurement.
Increase in collaborations with technology-based startups:
Leading suppliers in the product engineering services market space prefer collaborating with technology-based start-ups as it helps them enhance their service offerings through the adoption of new technologies. It includes the adoption of new technological platforms, software products, and ideas created by start-ups. Also, the use of technologies such as AI and machine learning further help in improving the business and decision-making processes of their clients.
The evolution of multiple delivery methods:
Several leading suppliers are increasingly offering various delivery models for software deployment and maintenance activities. The use of multiple delivery models helps buyers to select the most suitable delivery method based on unique business requirements of their clients to enhance their clients' experience. It also helps in reducing the implementation costs while offering multiple options for the buyers.
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