Reveals Engineering Services Outsourcing (ESO) Market to Grow at 22.5% CAGR, Anticipating Reach of US$ 423.33 Billion by 2029

20.09.2023: Engineering Services Outsourcing Market Report Scope and Research Methodology

This comprehensive report provides an extensive analysis of the Engineering Services Outsourcing (ESO) Market, covering its dynamics, drivers, restraints, and regional insights. Additionally, it offers valuable information about the research methodology employed in this study.Request Free Sample Report to access the detailed research methodology applied in this analysis.

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What are Engineering Services Outsourcing Market Dynamics?

The growth of the ESO market is driven by key factors, including significant cost savings due to lower labor wages. The continuous pursuit of cost reduction and the increasing demand for rapid product and service delivery also contribute to the market's expansion. The heightened global competition has heightened the need for cost-saving measures across various industries.

A notable trend in the market is the increasing outsourcing of engineering services, particularly to offshore destinations like India, as a means to cut costs. Factors such as efficiency enhancements and process improvements are further fueling the market's growth. Nevertheless, challenges faced by the global ESO market include a lack of domain expertise among workers or companies, inadequate infrastructure development, and limited regulatory support.

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What is Engineering Services Outsourcing Market Segmentation?

Application Segmentation: The telecom ESO segment is expected to witness substantial growth during the forecast period. Meanwhile, the consumer electronics ESO segment is projected to experience rapid growth with a CAGR exceeding 30% over the forecast period. This growth is primarily driven by the concept of convergence in the industry.
Location-Based Segmentation: In 2022, the offshore segment accounted for a larger share of revenue compared to the onshore segment. Offshore outsourcing is expected to gain prominence due to the availability of skilled and cost-effective labor in offshore countries, making them attractive outsourcing destinations.

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Who are Engineering Services Outsourcing Market Key Players?

1. Infosys Limited
2. Mindfire Solutions
3. Sonata Software Limited
4. Tata Consultancy Services Limited
5. EPAM Systems Inc.
6. KPricent Inc.
8. ALTEN Calsoft Labs
9. RLE International, Inc.,
10. Altair Engineering, Inc.
11. PM Group
12. Fareva
13. Deaton Engineering, Inc.
14. Aricent Group
15. Cybage Software Pvt. Ltd.
16. EPAM Systems, Inc.
17. GlobalLogic
18. Cyient
19. Pactera Technology International LtIT Technologies Ltd.

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Table of content for the Engineering Services Outsourcing Market includes:

Part 01: Executive Summary

Part 02: Scope of the Engineering Services Outsourcing Market Report

Part 03: Global Engineering Services Outsourcing Market Landscape

Part 04: Global Engineering Services Outsourcing Market Sizing

Part 05: Global Engineering Services Outsourcing Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Regional Insights:

Asia Pacific Dominates: The Asia Pacific region held the highest revenue share in the global ESO market in 2022. This dominance is attributed to the growing local outsourcing demand, a robust manufacturing base, and cost advantages in developing countries like China and India.

The report's objective is to provide a comprehensive analysis of the Global Engineering Services Outsourcing (ESO) Market, including insights from all industry stakeholders.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2023-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic
perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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