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Engineering Services Outsourcing Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

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); Location (On-Site, Onshore and Offshore); Pricing Mode (Staff Augmentation (FTE based), Time and Material, Fixed Price Projects, Services and Risk/Rewards); Industry (Aerospace, Automotive, Computing Systems, Construction, Consumer Electronics, Energy, Heavy Machinery, Healthcare, Industrial, Medical Devices, Semiconductors, Telecom and Others); and Region - Industry Dynamics, Market Size, Opportunity and Forecast to 2031

  • Published Date: 05-Apr-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0122113  | Delivery: 2 to 4 Hours
INFOGRAPHIC:
Engineering Services Outsourcing Market

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REPORT SCOPE

Report AttributeDetails
Market Size Value in 2022US$ 1430.7 Bn
Expected Revenue in 2031US$ 3,803.21 Bn
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD Bn)
CAGR19.67%
Segments coveredBy Type, By Location, By Pricing module, By Industry, By Region
Key Companies                                                                                                           Accenture, AKKA Technologies, Altair Engineering, Inc., ALTEN SA, ASAP Holding GmbH, Assystem, AVL List GmbH, Bertrandt, Capgemini SE, Cognizant, Cyient, EDAG, ESI Group, Ferchau, Genpact, Geometric, HCL Technologies Limited, IAV, IGate, Infosys, IBM, ITC Infotech, KPIT, L&T Technology Service, Neilsoft, QuEST Global, Ranal Inc., Segula Technologies, Semcon, Tata Consultancy Services, Tata Elxsi, Tata Technologies, Tech Mahindra, Wipro, Other Prominent Players
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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$ 1,439.97 Bn in 2022.

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 19.67% during the forecast period 2023-2031.

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