The global Engineering Services Outsourcing (ESO) market is expected to reach USD 8,126.49 billion by 2029 according to a new study by Polaris Market Research. The report “Engineering Services Outsourcing (ESO) Market Size, Share, Trends & Industry Analysis Report, By Application (Automotive, Energy, Network & Communications, Industrial Automation, Medical Technology, Industrial Electronics & Automated Embedded Engineering Services, Consumer Electronics, Semiconductors, Construction, Aerospace); By Location; By Region; Segment Forecast, 2022 – 2029” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The development of Industries 4.0, as well as the growing adoption of factory automation technologies, is driving up the need for an integrated package for analyzing and designing design solutions. The industry for EOS is already being driven by an increase in the use of sophisticated devices and resources to obtain competitive advantages through improving graphical, visual, architectural, and commercial designs. Additionally, the growing use of engineering solutions, including computer-aided designing, production, computer-aided electronic control automation software, is propelling ESO industry expansion.
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The onshore group accounted for a considerable portion of sales in the global ESO industry and is expected to dominate throughout the forecast period. ESO’s onshore solutions include outsourcing from their own nation. Outsourcing provides OEMs with cost savings as well as other advantages such as data protection and info safety. Onshore outsourcing is increasing in popularity as network operators, and OEMs develop a better grasp of each other’s time zones and cultures.
The number of R&D outsourced facilities is predicted to rise, with the U.S, Germany, and Japan being the three leading marketplaces. Countries like Brazil, China, and India, which are significant automotive, building, and equipment manufacturing centers, are experiencing an increase in outsourcing interest because of the expanding enterprises in these emerging countries.
Key players operating in the global ESO market are Altair Engineering, Inc., Accenture Plc, ALTEN, Altran, ASAP Holding GmbH, Amazon Web Services (AWS), Boston Engineering Corporation, AVL List GmbH, Capgemini SE, Cybage Software Pvt. Ltd., HCL Technologies Limited., EPAM Systems Inc., Infosys Limited, Microsoft Azure., International Business Machines Corporation, QuEST Global Services Pte. Ltd., Tata Consultancy Services Limited, Sonata Software Limited, Tech Mahindra Limited (Mahindra Group), and Wipro Limited.
Major market ESO companies are concentrating on introducing innovative ESO facilities in order to enhance their positions and grow their consumer base. Corporations are putting a lot of money into R&D and concentrating on offering personalized solutions to their clients.
Polaris Market Research has segmented the Engineering Services Outsourcing (ESO) market report on the basis of application, location, and region:
Engineering Services Outsourcing (ESO), Application Outlook (Revenue – USD Billion, 2017 – 2029)
- Network & Communications
- Industrial Automation
- Medical Technology
- Industrial Electronics and Automated Embedded Services
- Consumer Electronics
Engineering Services Outsourcing (ESO), Location Outlook (Revenue – USD Billion, 2017 – 2029)
- On Shore
- Off Shore
Engineering Services Outsourcing (ESO), Regional Outlook (Revenue – USD Billion, 2017 – 2029)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa