Engineering Service Outsourcing Market growing at CAGR of +24% by 2031 - Key Companies: AKKA, Alten Group, Capgemini, Entelect, HCL Technologies, Infosys, Tata Elxsi, Tata Consultancy Services., Tech Mahindra, Wipro

Engineering services outsourcing (ESO) refers to the means of hiring different types of non-physical engineering functions including designing, testing, system integration, and prototyping from an external source. These services are demanded at the early stages of the design of the products as well as the development process. As the integration of smart technologies has been a key area of focus for a multitude of clients, the market players have been emphasizing embedded engineering solutions instead of core-engineering services.

The global engineering services outsourcing market is estimated to grow at a CAGR of +24% from 2024 to 2031.

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Top Key Players Profiled in This Report:
M Group, Fareva, Aricent Group, Cybage Software Pvt. Ltd., EPAM Systems, Inc., GlobalLogic, Cyient, Pactera Technology International Ltd., HCL Technologies Limited, Tata Consultancy Services Limited, Tech Mahindra Limited, Infosys Limited, Wipro Limited, Honeywell, GM, Siemens and others.

Engineering Service Outsourcing Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.

• The globalization of R&D activities, the rising demand for integrating the latest technologies in product offerings, and the growing need to shorten the product lifecycles and cut costs are expected to contribute to the growth of the market.
• The impact of the outbreak of the COVID-19 pandemic and the subsequent lockdowns in various countries across the world varied depending on the end-use industries and industry verticals. Industrial facilities, manufacturing plants, and public transport were shut down temporarily as part of the efforts to arrest the spread of the disease.
• Due to the ease of lockdown restrictions, the reopening of industrial firms, and increased foreign trade, the Engineering Services Outsourcing sector began progressively recovering from the first quarter of 2021.
• One of the primary drivers of the expanding popularity of engineering services outsourcing (ESO) is expected to be the growing cooperation between Original Equipment Manufacturers (OEM) and Engineering Service Providers (ESP).
• The increasing need to shorten product lifecycles and cost-cutting and the rising desire for product options that incorporate the most outdated technology are all expected to support market expansion.
• The increasing desire among consumers to outsource various services as a part of cost-cutting initiatives has led to continuous growth in the ESO market.
• Due to increased automation, a move toward digitalization, and the adoption of Industry 4.0, the need for automated Engineering Service Providers has risen dramatically in recent years. The market for CNC machines, which currently accounts for more than 60% of the market, is expected to grow significantly over the forecast period.

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Engineering Service Outsourcing Market Segmentation by Service:
• Outsourced Technical Services
• Designing Services
• Prototyping Services
• System Integration Services
• Testing Services
• Other Services

Engineering Service Outsourcing Market Segmentation by Location:
• Onshore
• Offshore

Engineering Service Outsourcing Market Segmentation by Application:
• Aerospace
• Automotive
• Industrial
• Consumer Electronics
• Semiconductors
• Healthcare
• Telecom

Engineering Service Outsourcing Market by Regions:
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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• It offers an analysis of changing competitive scenario.
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• It offers seven-year assessment of Engineering Service Outsourcing Market.
• It helps in understanding the major key product segments.
• Researchers throw light on the dynamics of the market such as drivers, restraints, trends, and opportunities.
• It offers regional analysis of Engineering Service Outsourcing Market along with business profiles of several stakeholders.
• It offers massive data about trending factors that will influence the progress of the Engineering Service Outsourcing Market.

Table of Contents
Global Engineering Service Outsourcing Market Research Report - Forecast to 2031
Chapter 1 Engineering Service Outsourcing Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Engineering Service Outsourcing Market Forecast

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