PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1629688
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1629688
Engineering Services Outsourcing Market, By Services, By Application, By Location, By Geography
Global Engineering Services Outsourcing Market is estimated to be valued at USD 1,834.9 Mn in 2024 and is expected to reach USD 9,254.1 Mn by 2031, growing at a compound annual growth rate (CAGR) of 26% from 2024 to 2031.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 1,834.9 Mn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 26.00% | 2031 Value Projection: | US$ 9,254.1 Mn |
Engineering Services Outsourcing refers to the practice of hiring engineering teams from outside organizations to perform engineering work such as product design, development and testing. Over the past few decades, there has been a significant rise in Engineering Services Outsourcing globally as companies look to leverage lower costs and access specialized talent. Engineering firms provide support across various domains including electrical & electronics, telecommunication, consumer products, automotive and industrial machinery. Outsourcing engineering services allows client companies to focus on their core competencies while leveraging the technical expertise of offshore engineering partners.
Market Dynamics
Global Engineering Services Outsourcing market is driven by the need for cost reduction and access to talent. Rising wages and costs in Western nations have pushed companies to outsource engineering work to lower cost destinations such as India and China. Additionally, the outsourcing partners have invested heavily in building engineering skills over the years, allowing client companies to leverage specialized competencies. However, risks around data security, loss of control and cultural differences continue to restrain greater adoption of outsourcing. Furthermore, the Covid-19 pandemic disrupted operations and challenged the ability of partners to transition work. Nonetheless, emerging technologies around artificial intelligence, IoT and automation present new opportunities for outsourcing companies to enhance their service offerings.
Key features of the study:
This report provides in-depth analysis of the global Engineering Services Outsourcing market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
Key companies covered as a part of this study include AKKA, Alten Group, Capgemini Engineering, Entelect, HCL Technologies Limited, Infosys Limited, Tata Elxsi, Tata Consultancy Services Ltd, Tech Mahindra Limited, Wipro Limited.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global Engineering Services Outsourcing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Engineering Services Outsourcing market.
Market Segmentation
- Services Insights (Revenue, USD Mn, 2019 - 2031)
- Designing
- Prototyping
- System Integration
- Testing
- Others
- Application Insights (Revenue, USD Mn, 2019 - 2031)
- Aerospace
- Automotive
- Semiconductors
- Healthcare
- Others
- Location Insights (Revenue, USD Mn, 2019 - 2031)
- Off-shore
- On-shore
- Regional Insights (Revenue, USD Mn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- AKKA
- Alten Group
- Capgemini Engineering
- Entelect
- HCL Technologies Limited
- Infosys Limited
- Tata Elxsi
- Tata Consultancy Services Limited.
- Tech Mahindra Limited
- Wipro Limited
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Engineering Services Outsourcing Market, By Services
- Engineering Services Outsourcing Market, By Application
- Engineering Services Outsourcing Market, By Location
- Engineering Services Outsourcing Market, By Region
3. Market Dynamics, Regulations, And Trends Analysis
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
- Industry Trends
4. Engineering Services Outsourcing Market, By Services, 2024-2031, (USD Mn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Designing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
- Prototyping
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
- System Integration
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
- Testing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
5. Engineering Services Outsourcing Market, By Application, 2024-2031, (USD Mn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Aerospace
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
- Automotive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
- Semiconductors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
- Healthcare
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
6. Engineering Services Outsourcing Market, By Location, 2024-2031, (USD Mn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Off-shore
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
- On-shore
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Mn)
7. Engineering Services Outsourcing Market, By Region, 2019 - 2031, Value (USD Mn)
- Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (USD)
- Market Y-o-Y Growth Analysis (%), 2019 - 2031, Value (USD)
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, By Services, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Location, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Mn)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, By Services, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Location, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Mn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Services, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Location, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Mn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Services, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Location, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Mn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Services, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Location, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Mn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Services, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Location, 2019 - 2031, Value (USD Mn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Mn)
- South Africa
- North Africa
- Central Africa
8. Competitive Landscape
- AKKA
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Alten Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Capgemini Engineering
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Entelect
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- HCL Technologies Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Infosys Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Tata Elxsi
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Tata Consultancy Services Limited.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Tech Mahindra Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Wipro Limited
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. References and Research Methodology
- References
- Research Methodology
- About us
