Insights on the Engineering Services Global Market to 2030 - Identify Growth Segments for Investment - ResearchAndMarkets.com

The "Engineering Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global engineering services market as it emerges from the COVID-19 shut down.

The global engineering services market is expected to grow from $830.48 billion in 2020 to $938 billion in 2021 at a compound annual growth rate (CAGR) of 12.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1167.21 billion in 2025 at a CAGR of 5.6%.

Companies Mentioned

• Tata Consulting Services (TCS)
• Infosys
• WorleyParsons
• Deaton Engineering Inc.
• Aricent Group
• Cybage Software Pvt. Ltd.
• EPAM Systems Inc.
• GlobalLogic
• Cyient
• Pactera Technology International Ltd.
• EPAM Systems Inc.
• KPIT Technologies Ltd.
• Aricent Inc.
• ALTEN Calsoft Labs
• L&T Technology Services
• Mindtree
• Persistent
• Semcon
• Cognizant
• SNC-Lavalin
• Rapid Value
• Jacobs
• Laing O' Rourke
• EInfochips
• ACS Group

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
• Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market research findings.
• Benchmark performance against key competitors.
• Utilize the relationships between key data sets for superior strategizing.
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The increasing popularity and adoption of the Internet of Things (IoT) across the globe is the latest trend in the engineering services market. Internet of things (IoT) is a system of inter-related devices enabling transmission of data over a wide range of networks. IoT enables continuous innovations in real-time data analytics, design, and development products and helps businesses grow at a faster pace. Engineering service providers are increasingly using industrial IoT to improve and optimize their production process with better energy usage, resource allocation, and asset management. For Instance, PureSoftware, an engineering service company, has successfully integrated IoT to engineering services and built a steady IoT platform to improve accuracy and speed to retrieve data. India has a 43% market share in the global IoT market followed by Western Europe and North America with 27% and 23% respectively.

In 2020, Wipro, an Indian software services exporter has acquired Eximius Design for $80 million. The acquisition is expected to strengthen Wipro's market presence in the semiconductor ecosystem. Eximius Design is a California-based engineering services company focused on ASIC design, systems, and software engineering. Eximius design is founded in the year 2013 and has design centers in the US, India, Malaysia.

The engineering services market is expected to benefit from steady economic growth in developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.7% over 2019, 2020, and 3.6% from 2021 to 2023. This trend will be mainly driven by regions of Asia and Africa. According to the report, Asia will represent 66% of the global middle-class population by 2030. For instance, the Indian IT-BPM industry grew by 7.7% in FY 2017, with software products and engineering services reaching US$ 25 billion. Going forward, the Asia Pacific and Middle Eastern regions are expected to be the fastest-growing markets in the engineering services, design, animation, and graphic designing industries. Developing countries such as India and China have started attracting foreign investments to improve their infrastructure. This was mainly due to an increase in internet penetration, growth in population, and increasing economic activity.

Key Topics Covered:

1. Executive Summary

2. Engineering Services Market Characteristics

3. Engineering Services Market Trends And Strategies

4. Impact Of COVID-19 on Engineering Services

5. Engineering Services Market Size And Growth

5.1. Global Engineering Services Historic Market, 2015-2020, $ Billion

5.1.1. Drivers of the Market

5.1.2. Restraints on The Market

5.2. Global Engineering Services Forecast Market, 2020-2025F, 2030F, $ Billion

5.2.1. Drivers of the Market

5.2.2. Restraints on the Market

6. Engineering Services Market Segmentation

6.1. Global Engineering Services Market, Segmentation By Type

6.2. Global Engineering Services Market, Segmentation By End User

6.3. Global Engineering Services Market, Segmentation By Engineering Disciplines

6.4. Global Engineering Services Market, Segmentation By Delivery Model

7. Engineering Services Market Regional And Country Analysis

7.1. Global Engineering Services Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

7.2. Global Engineering Services Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210513005795/en/