Future Growth of Engineering Services Outsourcing Market Forecast to 2026 in a Newly Released Report Profiling Wipro Limited, EDAG Engineering GmbH, ASAP Holdings GmbH, FEV Group, Cybage software, Kistler Instruments AG, Infosys Ltd

The latest trending report Global Engineering Services Outsourcing Market by Manufacturers, Countries, Type and Application, forecast to 2026 offered by Polaris Market Research in an informative study covering the market with detailed analysis, the report will assist reader with better understanding and decision making.

The global engineering services outsourcing market is anticipated to reach more than USD 1.96 trillion by 2026. The major factors which are driving this market is the access to low cost highly skilled resources which can work towards complex tasks of not only designing and testing but also on validation, simulation and execution. Companies are moving from business process outsourcing to knowledge process outsourcing and major industry verticals such as automotive, consumer electronics, semiconductors, aerospace and telecom are providing huge opportunities to the consulting companies. The traction of offshore outsourcing can be seen owing to the low cost and added capabilities from the service providers. There are pureplay ESO service providers which are not only providing basic services but also, they are jointly investing with the companies to expand their businesses in growing markets and geographies. Companies are also focusing on ESO services to expand their market reach along with faster turnaround times from these providers. These are some of the major advantages for the companies to outsource their services.

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Engineering Services Outsourcing Market By Application Outlook:

- Consumer Electronics
- Automotive
- Telecom
- Pharmaceuticals
- Energy
- Semiconductors
- Construction
- Aerospace.

Engineering Services Outsourcing Market By Application Outlook:

- North America - U.S., Canada
- Europe - Germany, UK, France
- Asia-Pacific - China, India, Japan
- Latin America - Brazil; Middle East & Africa.

The market for ESO has been evolved from outsourcing of simple low-cost engineering services to capacity augmentation. These days companies are focusing more on reduced timelines, increased productivity and quality of outsourcing services. Countries such as India, China are the biggest market for ESO providers. Growing number of engineering professionals every year coupled with low cost of service have pushed the market for ESO in this region.

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Engineering Services Outsourcing Market Major Key Player Includes: HCL Technologies Limited, IAV GmbH, P+Z Engineering GmbH, Tata Consulting Services Limited, Wipro Limited, EDAG Engineering GmbH, ASAP Holdings GmbH, FEV Group, Cybage software, Kistler Instruments AG, Infosys Ltd

Few Points – Table of Content:

Overview and Scope
Executive Summary
Engineering services outsourcing Market Insights
Engineering services outsourcing Market Size and Forecast by Location Outlook
Engineering services outsourcing Market Size and Forecast by Application Outlook
Engineering services outsourcing Market Size and Forecast by Regions
Company Profiles.

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Companies in North America and Europe are considered to spend more on these services however, Asia Pacific is the largest market for the ESO service providers. Countries such as India and China have pushed the market for ESO and are estimated to continue the trend over the forecast period. ESO applications in the automotive, telecom, consumer electronics and aerospace segments is considered to have large market share in 2017. There has been an increase in adoption in the offshore services as compared to onsite service due to low costs and highly skilled professionals on the offshore locations.

The offshore outsourcing type would grow at a higher rate during the forecast period as compared to its counterpart. The major restrains this market is facing is the intellectual property theft specifically during the offshore outsourcing. This is the major problem faced by many companies, which eventually generates a loss for these companies. However due to strict laws and changing regulations, this challenge is expected to overcome during the forecast period.

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