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Global Product Engineering Services Market 2016-2020

About Product Engineering Services

Globalization and technological evolution are compelling manufacturers to innovate product offerings. Software product firms are under pressure to prepare for future business challenges to remain competitive in the market. Original equipment manufacturers (OEMs) are looking for innovative IT services that can help them achieve cost control and promote agile product development methodologies. Manufacturers are facing intense competition in domestic and international markets because most manufacturers are building similar products. Product life cycle management (PLM) solutions are the need of the hour to obtain competitive advantage in the marketplace. Product development process requires the right mix of engineering solutions and technical expertise.

Product engineering services are helping client firms to resolve key business challenges through the use of innovative engineering solutions. The implementation of product engineering solutions in industry verticals is helping manufacturers to innovate constantly by shortening production cycles. Further, such solutions help companies to differentiate their products from the competition. Demand for intelligent engineering solutions is rising and market players have responded by stepping up new product development to craft new software solutions. In addition, the rising implementation of embedded systems in products is encouraging market operators to add new features and extend their product portfolios.

Technavio’s analysts forecast the global product engineering services market to grow at a CAGR of 9.95% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global product engineering services market for 2016-2020. To calculate the market size, the report considers the revenue generated from product engineering services offered by vendors in the market. Vendor business models include both captive and service provider operations.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Product Engineering Services Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Accenture
  • Cognizant
  • HCL
  • TCS
  • Wipro
Other prominent vendors
  • Alten Calsoft Labs
  • Aricent
  • Capgemini
  • EPAM
  • Genpact
  • Happiest Mind
  • HARMAN
  • iGATE
  • Nexient
  • Pactera
  • Tech Mahindra
Market driver
  • Need for faster time to market
  • For a full, detailed list, view our report
Market challenge
  • Effective management of product development life cycle
  • For a full, detailed list, view our report
Market trend
  • Upsurge of IoT solutions
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Product Engineering Services Market 2016-2020

Technavio recognizes the following companies as the key players in the Global Product Engineering Services Market: Accenture, Cognizant, HCL, TCS, and Wipro.

Other Prominent Vendors in the market are: Alten Calsoft Labs, Aricent, Capgemini, EPAM, Genpact, Happiest Mind, HARMAN, iGATE, Nexient, Pactera, and Tech Mahindra.

Commenting on the report, an analyst from Technavio’s team said: “IoT solutions are gaining traction in the market as demand for connected and intelligent solutions expands. IoT is no more a buzzword in the IT market and numerous vendors are offering IoT solutions for engineering services for numerous industry verticals, such as healthcare, energy, manufacturing, and automotive.”

According to the report, time to market remains an important benchmark that helps improve business agility. Enterprises can gain significant benefits in terms of pricing and brand name by introducing products faster than competitors. Firms are adopting product engineering solutions to reduce development time and accelerate time to market.

Further, the report states that manufacturers are facing difficulties in the development of products due to numerous complexities involved in product development. The complexities are increasing due to the growing trend of implementing embedded software and electronic components in product development.

Companies Mentioned

Accenture, Cognizant, HCL, TCS, Wipro, Alten Calsoft Labs, Aricent, Capgemini, EPAM, Genpact, Happiest Mind, HARMAN, iGATE, Nexient, Pactera, Tech Mahindra.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Global product engineering services market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by end-user
    • Global product engineering services market by end-user
      • Table Global product engineering services market by end-user 2015
  • Geographical segmentation
    • Global product engineering services market by geography 2015
      • Table Global product engineering services by geography 2015
  • Market drivers
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
  • Key vendor analysis
    • Accenture
      • Table Accenture: Business segmentation by revenue 2014
      • Table Accenture: Geographical segmentation by revenue 2014
    • Cognizant Technology Solutions
      • Table Cognizant: Business segmentation by revenue 2014
      • Table Cognizant: Business segmentation by revenue 2013 and 2014 ($ billions)
      • Table Cognizant: Geographical segmentation by revenue 2014
    • HCL Technologies
      • Table HCL Technologies: Business segmentation by revenue 2014
      • Table HCL Technologies: Business segmentation by revenue 2013 and 2014 ($ billions)
    • TCS
      • Table TCS: Business segmentation by revenue 2015
      • Table TCS: Business segmentation by revenue 2014 and 2015 ($ billions)
      • Table TCS: Geographical segmentation by revenue 2015
      • Table TCS: Market segmentation by revenue 2015
      • Table TCS: Market segmentation by revenue 2014 and 2015 ($ billions)
    • Wipro
      • Table Wipro: Business segmentation by revenue 2015
      • Table Wipro: Business segmentation by revenue 2014 and 2015 ($ billions)
      • Table Wipro: Geographical segmentation by revenue 2015
  • Appendix
    • List of abbreviations
  • Explore Technavio

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