Engineering Services Outsourcing Market Size, Share, Growth Report 2030

Engineering Services Outsourcing Market

Engineering Services Outsourcing Market BY Service Types (testing, prototyping, designing, system integration, and other such service types), By Application (automotive, aerospace, consumer electronics, construction, manufacturing, semiconductors, telecom, pharmaceuticals, and others), By Location (offshore and onshore locations), And By Region: - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts, 2023-2030

Category: Technology & Media Report Format : PDF Report Code: ZMR-6055 Status : Upcoming
Market Size in 2022 Market Forecast in 2030 Growth Rate (in %) Base Year
USD 1283.64 billion USD 5183.15 billion CAGR at 21% 2022

Engineering Services Outsourcing Market

Description

According to the report published by Zion Market Research, the global Engineering Services Outsourcing market size was valued at USD 1283.64 billion in 2022 and is predicted to reach USD 5183.15 million by the end of 2030. The market is expected to grow with a CAGR of 21% during the forecast period. The report analyzes the global Engineering Services Outsourcing market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Engineering Services Outsourcing industry.

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Global Engineering Services Outsourcing Market: Overview

Engineering services outsourcing (ESO) refers to the means of hiring different types of non-physical engineering functions including designing, testing, system integration, and prototyping from an external source. These services are demanded at the early stages of the design of the products as well as the development process. As the integration of smart technologies has been a key area of focus for a multitude of clients, the market players have been emphasizing embedded engineering solutions instead of core-engineering services.

Engineering services comprise the services that are needed at each stage of the lifecycle of the product from conceptualization to its retirement. The engineering services emerged into an outsourcing model which has enhanced the cost-effectiveness and the productivity of companies, apart from reducing the time required to develop a product.

Global Engineering Services Outsourcing Market: Growth Drivers

One of the major factors driving the global engineering services outsourcing market is the increase in the demand for automation and a rise in the adoption of integrated solutions for designing & analyzing the engineering systems. The different engineering software such as computer-aided engineering software (CAE), computer-aided designing software (CAD), computer-aided manufacturing software (CAM), architecture, engineering, & construction software (AEC), and electronic design automation software (EDA) are gaining traction amongst industries.  

Another prominent trend observed across the global engineering services outsourcing market is the initiation of cloud-based engineering software products as well as the rising penetration of devices such as smartphones, tablets, laptops, and PCs.

With the growing necessity to keep abreast of the latest trends in digitalization, automation mechanisms across open system architecture are generating considerable opportunities for the global engineering services outsourcing market forecast. The market expansion is propelled by the increasing adoption of sophisticated technologies for the manufacturing as well as product development across various sectors, shorter product lifecycles, rising number of linkages, and cost reduction amongst OEMs & ESPs (engineering service providers).

Engineering Services Outsourcing Market: Report Scope

Report Attributes Report Details
Report Name Engineering Services Outsourcing Market Research Report
Market Size in 2022 USD 1283.64 Billion
Market Forecast in 2030 USD 5183.15 Billion
Growth Rate CAGR of 21%
Number of Pages 199
Key Companies Covered M Group, Deaton Engineering Inc., Cybage Software Pvt. Ltd., Fareva, Aricent Group, EPAM Systems Inc., Cyient, GlobalLogic, Pactera Technology International Ltd., Altair Engineering Inc. (NASDAQ: ALTR), Accenture Plc., ALTEN SA, AVL List GmbH, ASAP Holding GmbH, HCL Technologies Ltd., Capgemini SE, QuEST Global Services Pte. Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Sonata Software Ltd., Wipro Ltd., Tech Mahindra Ltd. (Mahindra Group), and International Business Machines Corporation.
Segments Covered BY Service Types, By Application, By Location, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Global Engineering Services Outsourcing Market: Segmentation

The global engineering services outsourcing market has been categorized into various segments including service types, application, location, and region.

On the basis of the service type, the market is bifurcated into testing, prototyping, designing, system integration, and other such service types.

As per the breakup of application, the global engineering services outsourcing market is segregated into automotive, aerospace, consumer electronics, construction, manufacturing, semiconductors, telecom, pharmaceuticals, and others.

On the basis of location, the engineering outsourcing services markets is bifurcated into offshore and onshore locations. The onshore outsourcing segment is expected to undergo significant development, as the market players have been aggressively seeking to strengthen their industry foothold.

Global Engineering Services Outsourcing Market: Regional Analysis

Asia Pacific appears to be a hub of highly skilled engineering professionals. This region might dominate the global engineering services outsourcing market through the forecast period. The rising adoption of state-of-the-art technologies, coupled with the growth of the emerging economies, especially of India, Malaysia, Singapore, China, and South Korea has provided opportunities for the regional industry.

South America is likely to contribute handsomely toward the overall global engineering services outsourcing market share by 2026, fuelled by the growing focus of the US-based manufacturers toward this offshore location. The growing adoption of technologies such as AI and 5G technology has been fueling the expansion of outsourcing engineering services globally at a greater rate in this region in the recent past. The strong backing of detailed paperwork required for outsourcing is in line with the need for a streamlined procedure for both the parties involved.

Global Engineering Services Outsourcing Market: Competitive Players

The key players of the global engineering services outsourcing market include:

  • M Group,
  • Deaton Engineering Inc.,
  • Cybage Software Pvt. Ltd.,
  • Fareva,
  • Aricent Group,
  • EPAM Systems Inc.,
  • Cyient,
  • GlobalLogic,
  • Pactera Technology International Ltd.,
  • Altair Engineering Inc. (NASDAQ: ALTR),
  • Accenture Plc.,
  • ALTEN SA,
  • AVL List GmbH,
  • ASAP Holding GmbH,
  • HCL Technologies Ltd.,
  • Capgemini SE,
  • QuEST Global Services Pte. Ltd.,
  • Infosys Ltd.,
  • Tata Consultancy Services Ltd.,
  • Sonata Software Ltd.,
  • Wipro Ltd.,
  • Tech Mahindra Ltd. (Mahindra Group),
  • International Business Machines Corporation.

These organizations are extensively investing in research & development operations and are partnering for offering customized services to their consumers in a highly fragmented landscape. New entrants in the markets might find it challenging to enter the global markets as well as to develop their presence in the markets due to the intense competition, lower familiarity with the consumer requirements, and lack of project experience.

The global Engineering Services Outsourcing Market is segmented as follows:

BY Service Types 

  • Testing
  • prototyping
  • designing 
  • system integration 
  • and other such service types

By Application

  • automotive
  • aerospace 
  • consumer electronics 
  • construction 
  • manufacturing 
  • semiconductors
  • telecom 
  • pharmaceuticals 
  • and others 

By Location 

  • offshore 
  • and onshore locations

Global Engineering Services Outsourcing Market: Regional Segments

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

One of the major factors driving the global engineering services outsourcing market is the increase in the demand for automation and a rise in the adoption of integrated solutions for designing and analyzing the engineering systems. The different engineering software such as computer-aided engineering software (CAE), computer-aided designing software (CAD), computer-aided manufacturing software (CAM), architecture, engineering, and construction software (AEC), and electronic design automation software (EDA) are gaining traction amongst   industries.  

The Asia Pacific appears to be a hub of highly skilled engineering professionals. This region might dominate the global engineering services outsourcing market through the forecast period. The rising adoption of state-of-the-art technologies, coupled with the growth of the emerging economies, especially of India, Malaysia, Singapore, China, and South Korea has provided opportunities for the regional industry.

The key players of the global engineering services outsourcing market include M Group, Deaton Engineering Inc., Cybage Software Pvt. Ltd., Fareva, Aricent Group, EPAM Systems Inc., Cyient, GlobalLogic, Pactera Technology International Ltd., Altair Engineering Inc. (NASDAQ: ALTR), Accenture Plc., ALTEN SA, AVL List GmbH, ASAP Holding GmbH, HCL Technologies Ltd., Capgemini SE, QuEST Global Services Pte. Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Sonata Software Ltd., and Wipro Ltd.

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