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Engineering Services Outsourcing Market To Record CAGR of 29.2% By 2027 – Growth Opportunities Overview, Business Challenges Analysis And Application Estimates | Million Insights

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Engineering Services Outsourcing Market To Record CAGR of 29.2% By 2027 – Growth Opportunities Overview, Business Challenges Analysis And Application Estimates | Million Insights

February 22
08:30 2021
Engineering Services Outsourcing Market To Record CAGR of 29.2% By 2027 - Growth Opportunities Overview, Business Challenges Analysis And Application Estimates | Million Insights

Million Insights – World’s Fastest Growing Market Research Database
According to new report available with Million Insights, the global engineering services outsourcing (ESO) industry research report offers thorough insights on services, global scope & regional trends. This study enables many opportunities for the market players to invest in research and development.

The global engineering services outsourcing market size is anticipated to reach USD 2.47 trillion by the end of 2027, according to a new report by Million Insights. The market is projected to register a CAGR of 29.2% over the forecast duration. Factors such as globalization of research and development activities are increasing the application of IT in different industries attributing to the growth of the market.

There has been significant growth in engineering services outsourcing in the last few years as service providers offered solutions required at each stage of the product development lifecycle. With the emergence of innovative technologies, market players are emphasizing on using technologies such as automation, big data analytics and cloud computing, thereby enhancing their product offering.

To download the sample PDF of “Engineering Services Outsourcing Market” Report please click here: https://www.millioninsights.com/industry-reports/global-engineering-services-outsourcing-market/request-sample 

 

The emergence of innovative technologies such as digital reality augmented reality, IoT, virtual reality and others has helped businesses in maintaining operational efficiency. These technologies have helped in modernizing core service for OEMs and thus, increased the ESO potential. 

Asia Pacific was the leading region in 2019 and the region is projected to continue its domination over the forecast duration. Easy and cost-effective availability of skilled workforce in countries such as India and China is attributing to the regional growth. While Latin America is anticipated to witness the highest CAGR of more than 30% over the forecast duration, primarily because of rapid infrastructural development in the region.  

To browse report summary & detailed TOC, please click the link below:
https://www.millioninsights.com/industry-reports/global-engineering-services-outsourcing-market 

 

Further key findings from the report suggest:

• In 2019, the automotive segment accounted for the highest CAGR of more than 20% over the forecast duration.

• The designing category is likely to grow at a CAGR of 31.3% over the forecast duration owing to increasing demand for latest technologies for product designing.

• Asia Pacific accounted for the largest share in the market and the region is expected to continue its domination over the forecast period.

• Leading players involved in the engineering services outsourcing market are Infosys Limited, Tata Consultancy Services Limited, Alten GmbH, Altran Technologies, Wipro Limited, Tech Mahindra and others.

Million Insights has segmented the global engineering services outsourcing market on the basis of services, location, application, and region:

ESO Services Outlook (Revenue, USD Billion, 2016 – 2027)
    • Designing
    • Prototyping
    • System Integration
    • Testing
    • Others

ESO Location Outlook (Revenue, USD Billion, 2016 – 2027)
    • Onshore
    • Offshore

ESO Application Outlook (Revenue, USD Billion, 2016 – 2027)
    • Aerospace
    • Automotive
    • Construction
    • Consumer Electronics
    • Semiconductors
    • Pharmaceuticals
    • Telecom
    • Others

ESO Regional Outlook (Revenue, USD Billion, 2016 – 2027)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa 

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About Million Insights

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

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