Engineering Services Outsourcing

Engineering Services Outsourcing

Global Engineering Services Outsourcing Market to Reach $2.3 Trillion by 2027

In the changed post COVID-19 business landscape, the global market for Engineering Services Outsourcing estimated at US$852.5 Billion in the year 2020, is projected to reach a revised size of US$2.3 Trillion by 2027, growing at a CAGR of 15.1% over the analysis period 2020-2027. Testing, one of the segments analyzed in the report, is projected to record a 16% CAGR and reach US$791.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Designing segment is readjusted to a revised 17% CAGR for the next 7-year period.

The U.S. Market is Estimated at $199.6 Billion, While China is Forecast to Grow at 20.4% CAGR

The Engineering Services Outsourcing market in the U.S. is estimated at US$199.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$339.7 Billion by the year 2027 trailing a CAGR of 20.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12% and 15.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 12.7% CAGR.Prototyping Segment to Record 14.7% CAGR

In the global Prototyping segment, USA, Canada, Japan, China and Europe will drive the 14.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$109.1 Billion in the year 2020 will reach a projected size of US$276.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 55 Featured) -

• ALTEN Group
• AVL List GmbH
• Cybage Software Pvt. Ltd.
• Cyient Ltd.
• Dalian Wensi Haihui Information Technology Co., Ltd (Pactera)
• FEV Consulting GmbH
• GlobalLogic
• HCL Technologies Limited
• HORIBA, Ltd.
• Infosys Limited
• Mindtree Ltd.
• P3 group GmbH
• QuEST Global Services Pte. Ltd.
• Wipro Limited

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