TechNavio recognizes the following companies as the key players in the Global Engineering Service Outsourcing Market: HCL Technologies Ltd., Wipro Ltd., TCS Ltd. and Infosys Ltd.
Commenting on the report, an analyst from TechNavio’s Enterprise Computing team said: ”In the past few years, several global companies have invested in engineering talent pool of India. Thus, India emerged as the most preferred destination for ESO. Moreover, the Government of India has taken some positive steps to ensure that the potential of this sector is realised. A National Design Policy was formulated to catapult the Indian brand onto the global stage. Several companies across the globe from the Automotive, Defense, Aerospace, and Construction verticals are increasingly outsourcing their engineering services to Indian ESO vendors.. The availability of resources at low cost is one of the major driving the ESO market in India. India is expected to account for around 30 percent revenues generated in the Global ESO market by 2016.”
According to the report, the growth of the Global ESO market is driven by many factors, one of which is the need for cost reduction. In order to sustain in a competitive business environment, enterprises are striving to achieve a cost-effective product development cycle. In this regard, ESO solutions enables enterprises to outsource engineering tasks to emerging countries such as India and China, which provide skilled labour at low cost.
Further, the report states that one of the major challenges confronting this market is the concerns related to IP. Since outsourcing requires the sharing of proprietary knowledge, companies are apprehensive about giving an offshore partner access to confidential information.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Land T, Luxoft, Infotech Enterprises, Tata ELXSI, QuEST Global, Clasoft Labs, iGate Corp., Symphony Teleca, Aricent Group, VanceInfo, MindTree, Tech Mahindra and Mahindra Satyam, Global Logic, Xchanging, Beyondsoft and Span Systems.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-engineering-service-outsourcing-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Engineering market research, please visit https://www.technavio.com/enterprise-computing
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TechNavio Announces the Publication of its Research Report “ Global Engineering Service Outsourcing Market 2012-2016
