Engineering Services Outsourcing Market To Witness Robust Expansion By 2026 | Prominent players HCL Technologies Limited, IAV GmbH, P+Z Engineering GmbH, Tata Consulting Services Limited, Wipro Limited, EDAG Engineering GmbH and others

The "Global Engineering Services Outsourcing Market: 2020" Industry Report is a professional and in-depth study on the current state of the Engineering Services Outsourcing Market by PMR. The Engineering Services Outsourcing market is supposed to demonstrate a considerable growth during the forecast period of 2020 - 2026. The company profiles of all the key players and brands that are dominating the market have been given in this report. Their moves like product launches, joint ventures, mergers and acquisitions and the respective effect on the sales, import, export, revenue and CAGR values have been studied completely in the report. The scope of this Engineering Services Outsourcing market report can be expanded from market scenarios to comparative pricing between major players. The emerging trends along with major drivers, challenges and opportunities in the market are also identified and analysed in this report.

Engineering Services Outsourcing help organizations to develop cogent, coherent plans of action to improve their performance.

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Top Key Players:
o HTE Engineering, LLC
o L&T-MHPS Turbine Generators Private Limited
o Vikram Solar Pvt. Ltd.
o Goldi Green Technologies Pvt. Ltd.
o Starkstrom Aktiengesellschaft (SAG) Group
o STEAG Energy Services GmbH
o Cyient Limited
o PM Group
o Nordex SE
o PlanET Biogas Global GmbH and others

Market Overview:

Engineering Services Outsourcing Market Worth $1.82 Trillion By 2026 and is expected to grow at a CAGR of 21% during the forecast period. (2020-2026) according to a new report published by Polaris Market Research. The report provides insights on the current market scenario and the future trends in this market.

Engineering services outsourcing Market: Automotive Application Estimates & Trend Analysis, 2019-2026

Changing Role & Participation of Automotive
ESO Providers

o Autonomous driving
o Connected cars
o Lightweight construction
o Electric mobility

Automotive ESO Market
o Designing
o Prototyping
o System Integration
o Testing

Engineering services outsourcing Market: Aerospace, Consumer Electronics, Semiconductor & Construction Application Estimates & Trend Analysis, 2019-2026

o Aerospace
o Construction
o Consumer Electronics
o Semiconductors

Engineering services outsourcing Market: Location Type Estimates & Trend Analysis, 2019-2026
o On Shore ESO Market
o Off Shore ESO Market

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The engineering services outsourcing market 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.

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 2018.

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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