Global Engineering Services Outsourcing Market (ESO) was valued US$ 221.18 Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
A key factor driving the growth of the engineering services outsourcing market is cost savings from lower labor wages. The constant rise in cost reduction and rising demand for the fast delivery of products and services are also some of the factors driving the growth of the global engineering services outsourcing market. The increased global competition has increased the need for cost reduction, among companies across several industries.
The market trend of companies outsourcing engineering services is expected to grow in the upcoming years, as offshore options are rising particularly in India for supporting cost-cutting efforts. Several factors, such as enhancement in efficiency and improvement in processes are further driving the growth of the global engineering services outsourcing market. However, the major challenges in the global engineering service outsourcing market include lack of domain expertise among workers or companies, poor infrastructure development, and poor regulatory support.
Based on the application, the telecom ESO segment is expected to witness substantial growth over the forecast period. The consumer electronics ESO segment is expected to grow at a rapid CAGR of over 30% over the forecast period. The industry is undergoing rapid changes, primarily driven by the concept of convergence.
On the basis of location, the offshore segment accounted for a larger revenue share in 2018 as compared to the onshore segment. Offshore outsourcing is estimated to gain prominence, because of the availability of skilled and cheap labor in offshore countries which makes them attractive outsourcing destinations.
Region-wise, the Asia Pacific region accounted for the highest revenue share of the global ESO market in 2018. The developing local outsourcing demand, strong manufacturing base, and cost arbitrage in developing countries, such as China and India are the major growth drivers of the Asia-Pacific engineering services outsourcing market.
The objective of the report is to present a comprehensive analysis of the Global Engineering Services Outsourcing Market (ESO) including all the stakeholders of the industry.
The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Application. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Application on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Engineering Services Outsourcing Market (ESO) dynamics, structure by analyzing the market segments and project the Global Engineering Services Outsourcing Market (ESO) size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Engineering Services Outsourcing Market (ESO) make the report investor’s guide.
Scope of the Global Engineering Services Outsourcing (ESO) Market
Global Engineering Services Outsourcing (ESO) Market by Application
• Consumer Electronics
Global Engineering Services Outsourcing (ESO) Market by Location
Global Engineering Services Outsourcing (ESO) Market by Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in the Global Engineering Services Outsourcing (ESO) Market
• Infosys Limited
• Mindfire Solutions
• Sonata Software Limited
• Tata Consultancy Services Limited
• EPAM Systems Inc.
• KPIT Technologies Ltd.
• Aricent Inc.
• ALTEN Calsoft Labs
• RLE International, Inc.,
• Altair Engineering, Inc.
• PM Group
• Deaton Engineering, Inc.
• Aricent Group
• Cybage Software Pvt. Ltd.
• EPAM Systems, Inc.
• Pactera Technology International Ltd
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