Engineering Services Market: Steady Growth Driven by Industry 4.0 Adoption and Expanded Use of AI, IoT, and Smart City development

The growth trajectory of the global engineering services market is influenced by the rising demand for industrial automation, adoption of artificial intelligence, and sustainable urban development.

What Is The Projected Market Size Of The Global Engineering Services Market And Its Growth Rate?
The global engineering services market has witnessed steady growth in recent years with the following key statistics:
- The market size grew from $1113.21 billion in 2024 to $1151.36 billion in 2025 with a CAGR of 3.4%.
- This growth can be attributed to increased demand for industrial robots and the implementation of Industry 4.0.
- The market is projected to grow to $1323.57 billion in 2029 with a CAGR of 3.5%.
- Factors driving this growth include increasing digitalization, rising demand for IoT solutions for smart manufacturing, prominence of robots in the construction industry, investments in the aviation industry, and rapid adoption of advanced technologies.

What Is Driving The Growth In The Engineering Services Market?
The growth of the engineering services market is significantly driven by the rising adoption of artificial intelligence (AI). The integration of AI in engineering services enhances efficiency, productivity, and profitability while creating new job roles and opportunities. The AI Index Report 2023 by Stanford University reveals a considerable rise in the adoption of AI by companies across industries, propelling the growth of the engineering services market.

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Who Are the Key Players Driving Engineering Services Market Growth?
Key players driving the growth of the engineering services market include:
- AECOM
- WorleyParsons Limited
- Babcock International
- Fluor Corporation
- Bechtel Corporation
- Kiewit Corporation
- WSP Inc, John Wood Group PLC
- NV5 Inc
- Arup Group, DNV
- SGS S.A
- ICS Engineering Services
- Engineers India Limited, Laserbond
- Cyient, Wipro
- Samsung Engineering
- Porsche Engineering (Shanghai) Co Ltd

What Are The Key Trends In The Engineering Services Market?
Key trends impacting the engineering services market are:
- Focus on partnerships and collaborations
- Adoption of artificial intelligence
- Use of blockchain
- Investment in development of smart cities
- Investment in low-code development
- Focus on environment-friendly building services
- Use of industry 4.0

What Are The Segments Of The Global Engineering Services Market?
The global engineering services market can be segmented by
1. Type: Civil Engineering Services, Electrical Engineering Services, Mechanical Engineering Services, Other Engineering Services
2. Engineering Disciplines: Civil, Mechanical, Electrical, Piping and Structural Engineering, Other Engineering Disciplines
3. End-User: Transportation Infrastructure, Other Infrastructure, Automotive, Industrial Manufacturing, Healthcare Sector, Aerospace, Telecommunications, Information Technology, Oil And Gas, Energy And Utilities, Other End-Users

Which Region Leads The Engineering Services Market?
In 2024, North America emerged as the largest region in the engineering services market, closely followed by Western Europe. The engineering services market report covers the following regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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What Is Covered In The Engineering Services Market Global Market Report?

- Market Size Analysis: Analyze the Engineering Services Market size by key regions, countries, product types, and applications.

- Market Segmentation Analysis: Identify various subsegments within the Engineering Services Market for effective categorization.

- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.

- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.

- Market Contribution: Evaluate contributions of different segments to the overall Engineering Services Market growth.

- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.

- Industry Challenges: Analyze challenges and risks affecting the Engineering Services Market.

- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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