Global Engineering Services Outsourcing (Eso) Market By Type (Drafting And 3d Modeling, Engineering Analysis, Product Design And Testing, & Others), By Application (Aerospace, Automotive, Construction, & Others), By Region And Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends And Forecast 2021-2030 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Engineering Services Outsourcing (Eso) Market By Type (Drafting And 3d Modeling, Engineering Analysis, Product Design And Testing, & Others), By Application (Aerospace, Automotive, Construction, & Others), By Region And Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends And Forecast 2021-2030 (Includes Business Impact of COVID-19)
Trusted Business Insights has published a comprehensive market research report on, Global Engineering Services Outsourcing (ESO) Market by Service Type (Drafting & 3D Modelling, Engineering Analysis, Product Design & Testing, Design Automation, Control Engineering, Manufacturing Engineering, Embedded Systems, Plant Design & Process Engineering), By Application(Aerospace, Construction, Semiconductor, Automotive, Pharmaceutical, Telecom, Other Applications), and by Region -Global Forecast to 2030, which offers a holistic view of the Global Engineering Services Outsourcing (ESO) market through systematic segmentation that covers every aspect of the target market.

The global Engineering Services Outsourcing (ESO) market is projected to be US$ 349550.4 Mn in 2020 to reach US$ 3033774.7 Mn by 2030 at a CAGR of 24.1%.

The engineering services outsourcing (ESO) includes the services that are required in each level of the product lifecycle. This starts from product concept, product introduction to last stage that is to the decline stage of product. Designing and development are core process of engineering. However, emerging IT and internet of things are playing key role in designing and development of any product.

Increasing demand for smart technology assisted products and fast supply and delivery of any product resulting in the growth of engineering services outsourcing across the globe. The advanced information technology is playing an important role to address the above mentioned current market needs. Technological developments are assisting in increasing production, faster supply, and optimize production cost for any product.

Engineering services outsourcing also help to reduce the overall production cost, as the capital intensive production process or technology can be outsourced. In addition, it helps to reduce expenditure on assets and help to reduce operational cost.

ESO includes outsourcing of various services such as product design services, prototyping, process design services, product testing, quality control, product lifecycle management, plant automation, and company asset management. In addition, engineering services outsourcing help to accelerate the time to market, market penetration, and expansion, to stand in stringent business competition, optimize R&D operations and expenditure, to enter into adjacent and emerging markets, and to expand the product lifecycle.


Global Engineering Services Outsourcing (ESO) Market Revenue (US$ Mn), 2021 to 2030


Increasing need to reduce operation cost among various product manufacturers around the globe is a key factor driving the growth of the global engineering services outsourcing (ESO) market. In addition, increasing need for product quality improvement, manufacturing capacity augmentation, improvement in R&D department, accelerated product development and market expansion are other key factors supporting growth of the target market.

Challenges in the management of global engineering services outsourcing network, as the ESO is highly collaborative process that includes, a large number of deliverables, complex customer categories. This is a key factor expected to hamper growth of engineering services outsourcing (ESO) market. In addition, lack of highly skilled and knowledgeable manpower to provide effective services in each type of business sector is another key factor expected to limit growth of the target market to a certain extent

Global Engineering Services Outsourcing (ESO) market is segmented on the basis of service type, application, and region. On the basis of service type, the market is segmented into Drafting & 3D Modelling, Engineering Analysis, Product Design & Testing, Design Automation, Control Engineering, Manufacturing Engineering, Embedded Systems, Plant Design & Process Engineering, and Others. The engineering analysis segment accounts for the majority share and is expected to register highest growth over forecast period, followed by Product Design & Testing segment. On the basis of application, the market is segmented into Aerospace, Construction, Semiconductor, Automotive, Pharmaceutical, Telecom, and others. The Aerospace segment accounts for a majority share in the global Engineering Services Outsourcing (ESO) market


Global Engineering Services Outsourcing (ESO) Market Attractiveness Index by Service Type, 2018


On the basis of region, the market is segmented into North America, Europe, APAC, South America, and Middle East Africa. The APAC accounts for the majority share in the global Engineering Services Outsourcing (ESO) market.

The research report on the global Engineering Services Outsourcing (ESO) market includes profiles of some of the major companies such as Tata Consultancy Services Limited, Tech Mahindra Limited, QuEST Global Services. Ltd., GlobalLogic Inc., Deaton Engineering, Wipro Limited, Cyient Limited, Luxoft Holding, Inc., EPAM Systems, Inc., Infosys Limited, HCL Technologies Limited, etc.

Key Market Segments

By Service

  
Designing
  
Prototyping
  
System Integration
  
Testing
  
Others

By Location

  
Onshore
  
Offshore

By Application

  
Aerospace
  
Automotive
  
Industrial
  
Consumer Electronics
  
Semiconductors
  
Healthcare
  
Telecom
  
Others


Key Market Players included in the report:


  
Accenture Plc
  
Altair Engineering Inc.
  
ALTEN Group
  
ASAP Holding GmbH
  
AVL List GmbH
  
Capgemini Services SAS
  
Cyient Limited
  
Deaton Engineering
  
EPAM Systems Inc.
  
GlobalLogic Inc.
  
HCL Technologies Limited
  
Infosys Limited
  
International Business Machines Corporation
  
Luxoft Holding Inc.
  
QuEST Global Services. Ltd.
  
RLE INTERNATIONAL Produktentwicklungsgesellschaft mbH
  
Tata Consultancy Services Limited
  
Tech Mahindra Limited
  
Technologies Limited
  
Wipro Limited


 Below are the key development related to Engineering Services Outsourcing (Eso) Market in 2020 and 2021.


Jul 2021: 3Pillar Global Enhances European Presence With New Moldova Development Center. Leading software development firm expands global footprint and talent with new delivery center. 3Pillar Global, a leading developer of innovative digital products, announced its continued expansion in Europe with the opening of a new development center in the Republic of Moldova. "3Pillar continues to grow at a rapid rate, and building up our delivery teams is essential to supporting that growth and better serving the impressive clients we partner with," said Jamie Whitacre, Senior Vice President of Talent at 3Pillar Global. "Were excited to welcome new team members in our Moldova office and expand our talent pool to better support our clients in digitally transforming their businesses. Source

Jun 2021: LTI to Acquire Digital Engineering Firm Cuelogic. Acquisition to augment cloud native product development capabilities. Larsen & Toubro Infotech Ltd. (BSE: 540005) (NSE: LTI), a global technology consulting and digital solutions company has signed a definitive agreement to acquire Cuelogic Technologies, a Digital Engineering and Outsourced Product Development company, headquartered in Pune, India. Founded in 2010, Cuelogic has built capabilities in digital engineering, and primarily focuses on developing cloud native web and mobile applications, modernization, and runs Innovation Lab as a service for its clients in the USA and India. Digital Engineering is a significant market opportunity, and this acquisition will provide instant access to a fast-growing business with impressive client roster, and more than 300 employees. Cuelogic works with enterprise clients on multiple facets of digitalization such as UX Consulting, DevOps, AI Consulting, IoT, Applications Modernization, Cloud Architecture & Integration. With over 100 products successfully developed, Cuelogic helps global enterprises build and grow modern digital businesses. Source

June 2021: Accenture to boost Industry X services with umlaut acquisition. Global consulting giant Accenture has closed its largest deal of the year with the acquisition of engineering advisory company umlaut. The bolt-on of the German firm will see over 4,000 professionals join Accentures Industry X unit. Founded in 1996, umlaut is a cross-industry advisory company that offers consulting and engineering services to clients. The firm currently has 4,200 consultants, engineers and technology experts working from a collective of 20 consultancies and engineering firms spread across 50 locations all over the world. umlaut becomes Accentures 22nd purchase since 2017 to build its Industry X capabilities, joining more recent acquisitions including Australian operations technology provider Electro 80, Brazilian industrial robotics and automation services provider Pollux, US operations consultancy Myrtle and German technology consultancy SALT Solutions. Accenture Industry X is the firm’s embedded intelligence offering, aiming to help clients run factories and plants, as well as design and engineer connected products and services for sustainable growth. Source