Engineering Services Outsourcing Market Report, Size, Growth Drivers, Key Players And Forecast 2024-2032

The global Engineering Services Outsourcing (ESO) Market reached USD 2296.88 million in 2023. Looking forward, Polaris Market Research expects the market to reach USD 19,490.67 million by 2032, exhibiting a growth rate (CAGR) of 26.8% from 2024 to 2032. The demand for specialist knowledge, cost constraints, and the growing complexity of engineering projects have all contributed to the market's recent growth.

The technique of employing outside specialists to manage particular tasks within the product development lifecycle that you might need to gain the knowledge, skills, or time to do is known as engineering services outsourcing or ESO. ESO is not a novel idea despite its recent rise in popularity. Its inception dates back to the early 2000s when the automotive and aerospace sectors hired outside companies to develop sophisticated telematics, infotainment, and navigation systems.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/engineering-services-outsourcing-market/request-for-sample

𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:
• ALPEN
• Altair Engineering, Inc.
• Alten
• Altran
• Amazon Web Services (AWS)
• ASAP Holding GmbH
• AVL List GmbH
• Boston Engineering Corporation
• Capgemini SE
• Cybage Software Pvt. Ltd.
• EPAM Systems Inc.
• HCL Technologies Limited

To satisfy the rising demand for engineering services across various industries, including automotive, aerospace, healthcare, and manufacturing, major companies in the engineering services outsourcing market are consistently broadening their geographic reach and service offerings. The major players operating in these industries are:

𝐆𝐫𝐨𝐰𝐭𝐡 𝐀𝐬𝐩𝐞𝐜𝐭𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

Expanding partnerships and joint ventures between OEMs and ESPs are now a major factor propelling the engineering services sector forward. Moreover, alliances and cooperatives facilitate information sharing, idea dissemination, and technology transfer between OEMs and ESPs. This cooperative approach fosters creativity and allows for the creation of innovative solutions that can handle challenging engineering issues.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭:

https://www.polarismarketresearch.com/Homecontroller/buyReport

𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐎𝐮𝐭𝐬𝐨𝐮𝐫𝐜𝐢𝐧𝐠 (𝐄𝐒𝐎) 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

Industrial segment accounted for the largest revenue shares of the market. Exploration facilities are digitizing, while industrial product manufacturers modernize IT infrastructure, adopt hybrid platforms, drive automation, and streamline processes for competitiveness.
On shore segment dominated the market with the largest revenue share due to emerging nations' automotive outsourcing vendors specialize in serving OEMs for modeling, development, and specialized processes.
Asia Pacific region holds the largest market share in 2022, Major automobile OEMs leverage the low-cost workforce in countries like India, the Philippines, and China by outsourcing manufacturing and related activities.
The global key market players include ALTEN, Microsoft Azure, Altran, Boston Engineering Corporation, Wipro Limited, Capgemini SE, EPAM Systems Inc., HCL Technologies Limited, Cybage Software Pvt. Ltd., AVL List GmbH and others.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

The report has thoroughly investigated all the primary regional markets, which include Europe, North America, Latin America, Asia Pacific, Middle East & Africa. According to the report, over the projection period, the Asia Pacific region is expected to grow at the fastest rate. For financial reasons, a large number of multinational corporations are locating their headquarters in Asian nations.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

• Automotive
• Energy
• Network & Communications
• Industrial Automation
• Medical Technology
• Industrial Electronics & Automated Embedded Service
• Consumer Electronics
• Semiconductors
• Construction
• Aerospace

𝐁𝐲 𝐋𝐨𝐜𝐚𝐭𝐢𝐨𝐧

• On Shore
• Off Shore

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭:

https://www.polarismarketresearch.com/industry-analysis/engineering-services-outsourcing-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:

Polaris Market Research

30 Wall Street, 8th Floor,

New York City, NY 10005,

United States

Phone:+1-929 297-9727

Email: sales@polarismarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.

This release was published on openPR.