Global Engineering Services Outsourcing Strategic Market Report 2023: Outsourcing to Surge, Immense Opportunities for IT Service Companies

DUBLIN, April 19, 2023 /PRNewswire/ -- The "Engineering Services Outsourcing: Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

Global Engineering Services Outsourcing Market to Reach $3.6 Trillion by 2030

The global market for Engineering Services Outsourcing estimated at US$1.1 Trillion in the year 2022, is projected to reach a revised size of US$3.6 Trillion by 2030, growing at a CAGR of 16.6% over the analysis period 2022-2030.

Testing, one of the segments analyzed in the report, is projected to record a 17.4% CAGR and reach US$1.3 Trillion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Designing segment is readjusted to a revised 18.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $243.6 Billion, While China is Forecast to Grow at 22% CAGR

The Engineering Services Outsourcing market in the U.S. is estimated at US$243.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$607.8 Billion by the year 2030 trailing a CAGR of 22% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.2% and 16.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14% CAGR.

Looking Ahead to 2023

Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.

Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

MARKET OVERVIEW

• Industrial Activity Remains Subdued Amidst the Pandemic
• Opportunities and Challenges for Engineering Services Companies
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• Engineering Services Outsourcing: An Introduction
• Advantages of Engineering Outsourcing
• Disadvantages/Risks Associated with Engineering Outsourcing
• Engineering Services Outsourcing Industry: The Evolution
• The Rise and Rise in Outsourcing Popularity
• Global Market Prospects & Outlook
• Key Market Trends Influencing the ESO Market
• Select Growth Drivers
• Market Restraints
• Recent Market Activity
• Analysis by Services

MARKET TRENDS & DRIVERS

• Market for Engineering Services Outsourcing Amid the Pandemic
• Engineering Services Outsourcing: Benefits Outweigh the Disadvantages
• Engineering Services Outsourcing to Surge, Immense Opportunities for IT Service Companies
• Market for Digital Engineering Services - Major Trends
• IT Services Outsourcing: An Overview
• Outsourcing to Emerging Economies Drives Overall Demand
• Auto OEMs Prefer Outsourcing of Services for Better Product Integration and Cost Savings
• Opportunities in Electronics Industry
• Supply Chain Disruptions Impact a Large Number of Electronic Manufacturers
• Increasing Demand in Industrial Manufacturing Sector
• Established Role in Aerospace Industry

FOCUS ON SELECT PLAYERS (Total 55 Featured)

• ALTEN Group
• AVL List GmbH
• Cybage Software Pvt. Ltd.
• Cyient Ltd.
• Dalian Wensi Haihui Information Technology Co., Ltd (Pactera)
• FEV Consulting GmbH
• GlobalLogic
• HCL Technologies Limited
• HORIBA, Ltd.
• Infosys Limited
• Mindtree Ltd.
• P3 group GmbH
• QuEST Global Services Pte. Ltd.
• Wipro Limited

For more information about this report visit https://www.researchandmarkets.com/r/qlroxq

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