Albany, NY -- (SBWIRE) -- 08/17/2017 -- Engineering services have been outsourced in recent years on a large scale. However, this time, it is not only to reduce costs but also to bring about innovation in product development. Engineering services are different from other functional outsourcing services due to the nature of complexities involved in various phases of the product development process. Innovation is the key to staying competitive in the marketplace. It is needed for organizations operating in industry verticals such as automotive. The technology landscape in several industry verticals is changing at a rapid pace, which has replaced the legacy system.
The global engineering services outsourcing market to grow at a CAGR of 25.68% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global engineering services outsourcing market for 2016-2020. To calculate the market size, the report considers the revenue generated from the subscription of ESO services.
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The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
Technavio's report, Global Engineering Services Outsourcing 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.
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Key vendors
- HCL Technologies
- Infosys
- TCS
- Tech Mahindra
- Wipro
Other prominent vendors
- Luxoft
- Cyient
- Tata Elxsi
- QuEST Global
- Symphony Teleca
- Aricent
- Mindtree
- Tech Mahindra
- GlobalLogic
- Xchanging
Market driver
- Need to support industrial 4.0 revolution
- For a full, detailed list, view our report
Market challenge
- Issues pertaining to IP ownership
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2021 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?
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