24/7 Customer Support

Engineering Services Outsourcing Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

Global Engineering Services Outsourcing Market – (By Type - Product Designing, Prototyping, Process Designing, System Integration, Testing, Quality Control, Product Lifecycle Management and Plant Automation & Enterprise Asset Management; By Location - On-Site, Onshore and Offshore; By Pricing Model- Staff Augmentation (FTE based), Time and Material, Fixed Price Projects, Services and Risk/Rewards; By Industry - Aerospace, Automotive, Computing Systems, Construction, Consumer Electronics, Energy, Heavy Machinery, Healthcare, Industrial, Medical Devices, Semiconductors, Telecom and Others; and By Region) - Industry Dynamics, Market Size, Opportunity and Forecast to 2027

  • Published On: 03-Jan-2022  |  Format: pdfpowerpointexcel  |  Report ID: AA0122113
    Delivery: 2 to 4 Hours
INFOGRAPHIC:
Engineering Services Outsourcing Market

View Full Infographic

REPORT SCOPE

Report AttributeDetails
Market Size Value in 2021US$ 1430.7 Bn
Expected Revenue in 2027US$ 3,803.21 Bn
Historic Data2017-2020
Base Year2021
Forecast Period2022-2027
UnitValue (USD Bn)
CAGR17.7% [2022-2027]
Segments coveredBy Type, By Location, By Pricing module, By Industry, and By Region
Regional ScopeNorth America; Europe; Asia Pacific; Middle East & Africa; South America
Key CompaniesAccenture, AKKA Technologies, Altair Engineering Inc., and other prominent players.
Customization ScopeGet your customized report as per your preference. Ask for customization

FREQUENTLY ASKED QUESTIONS

Engineering outsourcing is the transfer of responsibility for an engineering, organization's architecture, and construction functions to a third party.

The global engineering services and outsourcing market generated a revenue of US$ 1,430.7 Bn in 2021.

The global engineering services and outsourcing market is segmented by type (8 subsegments), by location (3 subsegments), by pricing module (5 subsegments), and by industry (13 subsegments)

Product Designing, Prototyping, Process Designing, System Integration, Testing, Quality Control, Product Lifecycle Management and Plant Automation & Enterprise Asset Management.

North America and Europe holds the highest share in the global engineering services of 33% each across the globe.

Industries like Aerospace, Automotive, Computing Systems, Construction, Consumer Electronics, Energy, Heavy Machinery, Healthcare, Industrial, Medical Devices, Semiconductors, Telecom and Others. 

Accenture, AKKA Technologies, Altair Engineering, Inc., ALTEN SA, ASAP Holding GmbH, AVL List GmbH, Cognizant, and many other 

Factors like reduction in overhead cost and implementation of Industry 4.0. are some major factors boosting the overall growth of the global engineering service and outsourcing market. 

Loss of managerial control over connected outsourcing companies is a key hindering factor impacting the global engineering service and outsourcing market.

HCL Technologies, Altair Engineering Inc., Orthogone, Flatworld Solutions and QuEST Global are some companies leading in the global engineering service and outsourcing industry.

The market is estimated to grow at a CAGR of 17.7% during the forecast period 2021-2027.

The CR4 ratio of the global marketplace is ~28%.