Engineering Service Outsourcing Market Report: Trends, Forecast and Competitive Analysis to 2030

Engineering Service Outsourcing Trends and Forecast

The future of the global engineering service outsourcing market looks promising with opportunities in the aerospace, automotive, industrial, consumer electronics, semiconductors, healthcare, and telecom markets. The engineering service outsourcing market is expected to grow with a CAGR of 24.0% from 2024 to 2030. The major drivers for this market are increasing collaboration between engineering service providers & original equipment manufacturers, increasing demand to integrate cutting-edge technologies into product offerings, and growing need for cost and product lifecycle reduction.

A more than 150-page report is developed to help in your business decisions.

Engineering Service Outsourcing by Segment

The study includes a forecast for the global engineering service outsourcing by service, location, end use industry, and region.

Engineering Service Outsourcing Market by Service [Shipment Analysis by Value from 2018 to 2030]:

• Designing
• Prototyping
• System Integration
• Testing
• Others

Engineering Service Outsourcing Market by Location [Shipment Analysis by Value from 2018 to 2030]:

• On-Shore
• Off-Shore

Engineering Service Outsourcing Market by End Use Industry Industry [Shipment Analysis by Value from 2018 to 2030]:

• Aerospace
• Automotive
• Industrial
• Consumer Electronics
• Semiconductors
• Healthcare
• Telecom
• Others

Engineering Service Outsourcing Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Engineering Service Outsourcing Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies engineering service outsourcing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the engineering service outsourcing companies profiled in this report include-

• Akka
• Alten
• Capgemini Engineering
• Entelect
• HCL Technologies
• Infosys
• Tata Elxsi
• Tata Consultancy Services
• Tech Mahindra
• Wipro

Engineering Service Outsourcing Market Insights

Lucintel forecasts that testing is expected to witness highest growth over the forecast period due to need to develop and refine product prototypes with enhanced optimization and error-free processes.

Within this market, industrial part will remain the highest segment due to utilizing industrial internet of things to reduce downtimes, detect and manage faults, and minimize supervision costs.

APAC is expected to witness highest growth over the forecast period due to region hosts manufacturing of industrial goods and provides cost-effective hiring support from highly skilled engineering professionals.

Features of the Engineering Service Outsourcing Market

Market Size Estimates: Engineering service outsourcing market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Engineering service outsourcing market size by service, location, end use industry, and region in terms of value ($B).

Regional Analysis: Engineering service outsourcing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different service, location, end use industry, and regions for the engineering service outsourcing market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the engineering service outsourcing market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the growth forecast for engineering service outsourcing market?

Answer: The global engineering service outsourcing market is expected to grow with a CAGR of 24.0% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the engineering service outsourcing market?

Answer: The major drivers for this market are increasing collaboration between engineering service providers & original equipment manufacturers, increasing demand to integrate cutting-edge technologies into product offerings, and growing need for cost and product lifecycle reduction.

Q3. What are the major segments for engineering service outsourcing market?

Answer: The future of the engineering service outsourcing market looks promising with opportunities in the aerospace, automotive, industrial, consumer electronics, semiconductors, healthcare, and telecom markets.

Q4. Who are the key engineering service outsourcing market companies?

Answer: Some of the key engineering service outsourcing companies are as follows.

• Akka
• Alten
• Capgemini Engineering
• Entelect
• HCL Technologies
• Infosys
• Tata Elxsi
• Tata Consultancy Services
• Tech Mahindra
• Wipro

Q5. Which engineering service outsourcing market segment will be the largest in future?

Answer: Lucintel forecasts that testing is expected to witness highest growth over the forecast period due to need to develop and refine product prototypes with enhanced optimization and error-free processes.

Q6. In engineering service outsourcing market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to region hosts manufacturing of industrial goods and provides cost-effective hiring support from highly skilled engineering professionals.

Q7. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the engineering service outsourcing market by service (designing, prototyping, system integration, testing, and others), location (on-shore and off-shore), end use industry (aerospace, automotive, industrial, consumer electronics, semiconductors, healthcare, telecom, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?