DUBLIN--(BUSINESS WIRE)--The "Engineering Services Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global engineering services outsourcing market grew at a CAGR of around 20% during 2014-2019. Looking forward, the publisher expects the global engineering services outsourcing market to continue its strong growth during the next five years.
Engineering services outsourcing (ESO) refers to the process of hiring various non-physical engineering functions, such as designing, prototyping, system integration and testing, from an external source. These services are required at the early stages of the product design and development process and utilize various information-technology (IT)-based tools and databases. For instance, in the network and communications sector, ESO is used for hiring network design services, geospatial data analytics and inventory management. Apart from this, it also finds extensive applications in industrial automation, supply chain and product cycle management and remote monitoring of the devices.
Increasing industrial automation, along with the rising adoption of integrated solutions for analyzing and designing engineering systems, represents one of the key factors driving the growth of the market. Furthermore, widespread utilization of engineering systems, such as computer-aided design (CAD), computer-aided engineering (CAE), computer-aided manufacturing (CAM) and electronic design automation (EDA) software, is also driving the market growth. These software aid in enhancing the overall efficiencies of the production processes and can be operated by the user over smartphones, laptops and tablets.
Various technological advancements and the incorporation of digital transformational services are acting as other growth-inducing factors. Original Equipment Manufacturers (OEMs) are integrating smart manufacturing systems, robotics and artificial intelligence (AI)-based solutions for improved modeling and detailing of the products, which is also creating a positive outlook for the market. Other factors, including the increasing utilization of strategic outsourcing services by the automotive, marine and offshore sectors, along with the development of 3D printing solutions, are expected to drive the market further.
- Accenture Plc
- Altair Engineering Inc.
- Cybage Software Pvt. Ltd.
- EPAM Systems Inc.
- HCL Technologies Limited
- Infosys Ltd.
- QuEST Global Services Pte. Ltd.
- Sonata Software Limited
- Tata Consultancy Services Limited
- Tech Mahindra Limited (Mahindra Group)
- Wipro Limited
Key Questions Answered in This Report:
- How has the global engineering services outsourcing market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global engineering services outsourcing market?
- What are the key regional markets?
- What is the breakup of the market based on the service?
- What is the breakup of the market based on the location?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global engineering services outsourcing market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Engineering Services Outsourcing Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Service
6.1.1 Market Trends
6.1.2 Market Forecast
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 System Integration
6.3.1 Market Trends
6.3.2 Market Forecast
6.4.1 Market Trends
6.4.2 Market Forecast
6.1.1 Market Trends
6.1.2 Market Forecast
7 Market Breakup by Location
7.1.1 Market Trends
7.1.2 Market Forecast
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Application
8.4 Consumer Electronics
9 Market Breakup by Region
9.1 North America
9.2 Asia Pacific
9.4 Latin America
9.5 Middle East and Africa
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/1j4sat