Emerging Sub-Segments Transforming the Engineering Services Market Landscape

The engineering services sector is set for consistent expansion over the coming years, driven by technological advancements and increasing demand for sustainable infrastructure solutions. This report delves into the market's current size, key influencing factors, major players, emerging trends, and important market segments shaping its future.

Forecast on the Engineering Services Market Size by 2030
The engineering services market is projected to reach $1371.48 billion by 2030, growing at a steady compound annual growth rate (CAGR) of 4.0%. This upward trajectory is largely fueled by increasing adoption of digital engineering platforms and a growing emphasis on sustainability-focused design. Additionally, the rise in smart infrastructure projects, the need for faster product validation, and the tighter integration of software with hardware engineering are significant contributors to this growth. Important trends in the years ahead include a surge in demand for integrated engineering solutions, wider use of simulation and testing services, greater focus on automation and robotics in engineering, expansion of multidisciplinary project delivery approaches, and enhanced support for lifecycle engineering.

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Driving Forces Behind Growth in the Engineering Services Market
The rising importance of digital platforms in engineering processes is a major factor propelling market expansion. Companies increasingly seek efficient and innovative tools to streamline design, testing, and validation, which is driving the demand for digital engineering solutions.
Simultaneously, sustainability considerations are playing a crucial role in shaping engineering services. The push for eco-friendly designs and sustainable infrastructure development is compelling firms to adopt greener practices and technologies, which in turn is boosting the market.

Key Companies Leading the Engineering Services Industry
The engineering services market features several top-tier companies, including AECOM, WorleyParsons Limited, Babcock International, Fluor Corporation, Bechtel Corporation, and Kiewit Corporation. Other notable players are WSP Global Inc, John Wood Group PLC, NV5 Global Inc, Arup Group, DNV, SGS S.A, ICS Engineering Services, Engineers India Limited, Laserbond, Cyient, Wipro, Samsung Engineering, Porsche Engineering (Shanghai) Co LTD, Hyundai Engineering (HEC), UGL, Cybage Software Pvt. LTD, China Overseas Engineering Group, China Engineering Consultants, Inc. (CECI), China International Engineering Consulting Corporation, SMEC, ALTEN Group, JLL engineering services, Dyson UK, Stork, SNC Lavalin, J. Murphy & Sons Limited, Arcadis, Alstom, Areva, Artelia, llc aecon, 10Clouds, Techno Engineering & Associates, GT Ground Engineering & Construction Services, International Business Machines Corporation, Capgemini, AKTIAS tech, Oracle, Deaton Engineering, Inc, Aricent Group, EPAM Systems, Inc, GlobalLogic, Jensen Hughes, Henderson Engineers, Thermal Specialties, MCW Group of Companies, McElhanney, Quasar Consulting Group, accenture* SRL, Globant, Cognizant Technology Solutions Corporation, Saudi Engineering Group International (SEGI), HRS Engineering LTD, Oiltek Engineering Co. LTD, Mugesan Engineering & Marine Specialist Co. Inc, Al Mostaqbal Consulting Engineering, Aroma International Building Contracting LLC, Al Baha Engineering Consultants, Smartcities Building Contracting LLC, Thelo DB, Dorman Long Engineering Limited, Decagon, Advanced Engineering Consultants (ACE), CDR Engineering Consultancy Nigeria Limited, ILF Engineers Nigeria Limited, Africa Engineering Consulting Services (AECS), and Ingplan Consulting Engineers.

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Recent Acquisition Strengthens Geotechnical Expertise
In June 2023, UES, a US-based engineering and consulting firm, acquired Riner Engineering in a move aimed at broadening its geotechnical capabilities. This acquisition is expected to enhance UES's proficiency in geotechnical engineering, construction materials testing, and environmental consulting. At the same time, Riner Engineering will benefit from UES's extensive resources and expertise, enabling it to broaden its service offerings and geographic footprint. Riner Engineering is a US-based company specializing in geotechnical engineering and construction materials testing.

Emerging Innovations Influencing the Engineering Services Market
Leading companies in the sector are focusing on innovative solutions to tackle pressing industry challenges. One example is the development of RICOH Remote Patient Monitoring (RPM) Enablement, designed to alleviate healthcare staffing shortages during an ongoing industry burnout crisis.
RICOH RPM Enablement offers an end-to-end managed service for healthcare providers, streamlining remote patient monitoring workflows to improve experiences for both patients and care teams. Launched by Ricoh USA Inc. in October 2023, this service integrates with existing virtual care programs to facilitate deployment of monitoring devices, inventory management, logistics, and device returns. This innovation arrives amid a significant shift to virtual healthcare delivery and a shortage of healthcare professionals.

Detailed Segmentation of the Engineering Services Market
This report classifies the engineering services market by several important categories:
1) By Type: Civil Engineering Services, Electrical Engineering Services, Mechanical Engineering Services, and Other Engineering Services
2) By Engineering Disciplines: Civil, Mechanical, Electrical, Piping and Structural Engineering, and Other Engineering Disciplines
3) By End-User Industries: Transportation Infrastructure, Other Infrastructure, Automotive, Industrial Manufacturing, Healthcare Sector, Aerospace, Telecommunications, Information Technology, Oil and Gas, Energy and Utilities, and Other End-Users.

Further subdivisions include:
- Civil Engineering Services: Structural Engineering, Geotechnical Engineering, Transportation Engineering, Environmental Engineering, Construction Management
- Electrical Engineering Services: Power Systems Engineering, Telecommunications Engineering, Control Systems Engineering, Electronics Design Engineering, Lighting Design
- Mechanical Engineering Services: Product Design and Development, HVAC (Heating, Ventilation, and Air Conditioning) Engineering, Robotics and Automation, Thermal Engineering, Manufacturing Engineering
- Other Engineering Services: Chemical Engineering Services, Aerospace Engineering Services, Software Engineering Services, Industrial Engineering Services, Marine Engineering Services

These segments offer a comprehensive view of the engineering services landscape, highlighting the diverse expertise and applications that drive this market's growth.

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This release was published on openPR.