Technavio has been monitoring the engineering services outsourcing market and it is poised to grow by 207.85 bn during 2020-2024, progressing at a CAGR of almost 23% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Engineering Services Outsourcing Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions:
- What are the major trends in the market?
Collaborative co-innovation partnership with outsourcing firms is a major trend driving the growth of the market. - At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 21.57% and the incremental growth of the market is anticipated to be 207.85 bn. - Who are the top players in the market?
Accenture, Altair Engineering, Inc., Alten GmbH, Aricent Group, HCL Technologies, Infosys, RLE International Group, TCS, Tech Mahindra Ltd., and Wipro, are some of the major market participants. - What is the key market driver?
The improved access to emerging markets is one of the major factors driving the market. - How big is the North America market?
The North America region will contribute 41% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture, Altair Engineering, Inc., Alten GmbH, Aricent Group, HCL Technologies, Infosys, RLE International Group, TCS, Tech Mahindra Ltd., and Wipro are some of the major market participants. The improved access to emerging markets will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Engineering Services Outsourcing Market 2020-2024: Segmentation
Engineering Services Outsourcing Market is segmented as below:
- Sourcing
- Offshore
- Onshore
- End-user
- Automotive
- Consumer Electronics
- Telecom
- Semiconductor
- Aerospace
- Medical Devices
- Construction
- Others
- Geographic Landscape
- APAC
- Europe
- MEA
- North America
- South America
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Engineering Services Outsourcing Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The engineering services outsourcing market report covers the following areas:
- Engineering Services Outsourcing Market Size
- Engineering Services Outsourcing Market Trends
- Engineering Services Outsourcing Market Industry Analysis
This study identifies collaborative co-innovation partnership with outsourcing firms as one of the prime reasons driving the engineering services outsourcing market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Engineering Services Outsourcing Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist engineering services outsourcing market growth during the next five years
- Estimation of the engineering services outsourcing market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the engineering services outsourcing market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of engineering services outsourcing market vendors
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End user placement
- Automotive Market size and forecast 2019-2024
- Consumer electronic Market size and forecast 2019-2024
- Telecom Market size and forecast 2019-2024
- Semiconductor Market size and forecast 2019-2024
- Aerospace Market size and forecast 2019-2024
- Medical devices Market size and forecast 2019-2024
- Construction Market size and forecast 2019-2024
- Others Market size and forecast 2019-2024
Market opportunity by Sourcing
- Market Segmentation by Sourcing
- Market segments
- Comparison by Sourcing placement
- Offshore Market size and forecast 2019-2024
- Onshore Market size and forecast 2019-2024
- Market opportunity by Sourcing
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America Market size and forecast 2019-2024
- APAC Market size and forecast 2019-2024
- Europe Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver Demand led growth
- Volume driver Supply led growth
- Volume driver External factors
- Volume driver Demand shift in adjacent markets
- Price driver Inflation
- Price driver Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Accenture
- Altair Engineering, Inc.
- Alten GmbH
- Aricent Group
- HCL Technologies
- Infosys
- RLE International Group
- TCS
- Tech Mahindra Ltd.
- Wipro
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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