Global Product Engineering Services Market – Industry Trends and Forecast to 2024

Market Analysis: Global Product Engineering Services Market

The global product engineering servicesmarket accounted for USD 664.3billion in 2016 growing at a CAGR of 7.95% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Market Definition: Global Product Engineering Services Market

The product engineering is a process of innovating, designing, developing, testing and deploying a software product. This step helps in taking care of the entire product life cycle starting from the phase of idea being conceived to the deployment and user acceptance testing phase. The growing rise in IoT, advancement in technology, need of reducing the production cost among others is driving the market for product engineering services market.

Major market drivers & restraints:

GrowingInnovations in Technology
Growing Consumer Electronic Market
Growing Need to Reduce Production Cost
Rising Adoption of IoT Solutions
Emergence of Smart Technologies
Fear of Loss of Control of Intellectual Property Rights

Market Segmentation: Global Product Engineering Services Market

The global product engineering servicesmarket is segmented on the basis of service type into product & component design, process engineering, maintenance, repair, operations& others. The software engineering is further sub segmented into embedded software services and independent software services. The process engineering is further sub segmented into manufacturing engineering support, knowledge-based engineering (KBE).

On the basis of organization size, the global product engineering servicesmarket is further segmented into small & medium enterprises, and large enterprises.

On the basis of vertical, the global product engineering services market is further segmented into aerospace & defense, automotive,healthcare, IT, industrial manufacturing, energy & utilities, telecom and others.

On the basis of geography, global product engineering servicesmarket report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

Company Share Analysis: Global Product Engineering Services Market

The report for product engineering servicesmarket include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.

Major Market Competitors: Global Product Engineering Services Market

Some of the major players of the global product engineering servicesmarket are IBM Corporation, Capgemini, AKKA, HCL Technologies Limited, AVL, ALTEN Group, ALTRAN GROUP, Tata Consultancy Services Limited., Accenture PLC, Aricent Inc., EPAM Systems, Inc., Happiest Minds, Wipro Limited, Harman, Nexient, Pactera, Tech Mahindra Limited, Genpactamongothers.

Research Methodology: Global Product Engineering Services Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. 

Global Product Engineering Services Market – Industry Trends and Forecast to 2024