- The ESO market in the APAC region is expected to grow at a CAGR of 28.75 percent during the period of 2013-2018.
London, 23 July 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Engineering Services Outsourcing (ESO) Market. The market is expected to post a strong CAGR of 28.75 percent percent over the projected period thanks to demand for accelerated innovation and localized production in this region. To calculate the market size, the report considers revenue generated from the ESO services.
ESO refers to the outsourcing of specific engineering tasks to third-party service providers. It helps organizations access skilled engineering professionals worldwide, and develops innovative and cost-effective products in minimal time. ESO enables organizations to develop an economic cost structure, use resources in the best possible way, and focus on core competencies.
Some of the major trends in the ESO market growth as highlighted in the TechNavio reports are:
- Offshoring to Captive Centers
- Emergence of India as a Key ESO Destination
- Increased Competition among Outsourcing Destinations
- Focus on Improving Domain Expertise
- ESO Vendors Strengthening their Global Presence
“ESO solutions enable these companies to outsource engineering tasks to emerging countries such as India and China, which provide skilled labor at low cost, to reduce the product development cycle and stay ahead of the curve,” says Faisal Ghaus, Vice President of TechNavio Research.
To determine the market scenario in the next 3-4 years, TechNavio analysts have collected key data related to the ESO market in the APAC region and analyzed these data using a variety of methods. Also, there has been in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Engineering Services Outsourcing (ESO) Market in the APAC Region, please send an e-mail to media@TechNavio.com.
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