This market research report outlies the market size and forecast for engineering services outsourcing until 2019. This research report segments the market according to the most preferred outsourced destination and it presents the market shares for APAC, Americas, and EMEA. The leading players of the global engineering services market analyzed by this report include HCL, Infosys, TCS, and Wipro.
Technavio’s market research analysts estimate the global ESO market to generate revenue worth $120 billion between 2015 and 2019. Companies have started outsourcing their engineering services requirements owing to the lack of expertise and increasing pressure to reduce operational costs. The Americas dominate the global market for ESO, accounting for around 47% of the overall market share. This region exports most of the engineering services to emerging countries such as India and China and countries in East Europe.
The new market research report from Technavio provides a breakdown and analysis of the engineering services outsourcing segments by technology.
“The ESO vendors are focusing to offer high-end services to the clients in terms of technological expertise. Concentrating on business outcomes, the companies are availing consulting services to analyse and improve their business operational performance and technology strategies. Several consultancies are forming strategic alliances with major engineering manufacturers to deliver quick recommendations and purchase, and offer technology system packages at high profits. Owing to increased adoption of social networking, mobile computing, online collaboration, cloud computing, and data storage, consulting services have gained importance for network management in the comopuies,” says Navin Rajendra, Lead Analyst, ICT, Technavio Research
Countries such as Philippines, Thailand, Malaysia and Singapore among others are also considered as emerging, dominant outsourcing destinations in the market. China offers a stronger infrastructure and manufacturing base compared to India. However, a large English-speaking population, liberal economic policies, a favorable political and legal system, and a relatively stronger protection of IP are some of the reasons why India is still a dominant player in the market.
The leading vendors in the global ESO market include HCL, Infosys, TCS, and Wipro. Intense competition prevails in this market as organizations across industries such as automotive, consumer electronics, and telecom increasingly avail engineering outsourced services for better processes, increased revenues, and cost reduction. The market is highly fragmented with the presence of numerous local and international vendors.
A more detailed analysis is available in the Technavio report, Global ESO Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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