Product Engineering Services Market - By Services, By Industry Vertical, By Organization Size, & Forecast 2023

Description

List of Tables

Global Product Engineering Services Market could witness an upward trend over 2023-2032. The increasing demand for innovative and technologically advanced products across various industries, such as automotive, healthcare, and consumer electronics, will fuel the need for product engineering expertise. The rising complexity of product development, including the integration of artificial intelligence, the Internet of Things (IoT), and other emerging technologies, requires specialized engineering skills. Besides, the globalization of markets and the need for cost-effective solutions are also driving the growth of the product engineering services market as companies seek to leverage global talent and optimize their resources.

The overall product engineering services market is segregated based on service, organization size, industry vertical, and region.

With respect to service, the market size from the Process Engineering Services segment could expand at over 10% CAGR from 2023 to 2032. Companies are increasingly focused on improving operational efficiency, reducing costs, and optimizing their manufacturing processes, which will expedite the adoption of process engineering services. Technological innovations, such as automation, data analytics, and artificial intelligence, require expertise in process engineering to implement and integrate these technologies effectively. Additionally, changing regulatory requirements and sustainability goals drive the need for process engineering services to ensure compliance and develop environmentally friendly and sustainable manufacturing practices.

Based on organization size, the product engineering services industry from SMEs segment will garner an appreciable valuation by 2032. SMEs often lack in-house engineering capabilities and expertise, making outsourcing product engineering services a cost-effective solution. These organizations aim to compete with larger companies by developing innovative and technologically advanced products. Product engineering services provide SMEs access to specialized skills, resources, and knowledge, enabling them to accelerate product development, enhance quality, and improve time-to-market.

Regarding industry vertical, the industry revenue from the automotive & transportation segment could reach over USD 500 million by 2032. The industry is witnessing rapid technological advancements, such as electric vehicles, autonomous driving, and connectivity, which require specialized engineering expertise. Companies in this sector aim to enhance vehicle performance, safety, and efficiency while reducing development cycles and costs. This apart, increasing customer expectations for innovative features and sustainable mobility solutions, drive the need for product engineering services in the automotive and transportation sector.

Regionally, Europe product engineering services market could exhibit over 5% CAGR through 2032. Europe is home to diverse industries, including automotive, aerospace, healthcare, and consumer electronics, which require specialized engineering expertise. Companies in the region are focused on innovation, product development, and staying competitive in the global market. Besides, the growing emphasis on sustainability, digital transformation, and emerging technologies will propel the demand for product engineering services in Europe.

Product Code: 5754

Chapter 1 Methodology & Scope

1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data Sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Product engineering services industry 360 degree synopsis, 2018 - 2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM)
2.3 Regional trends
2.4 Service trends
2.5 Organization size trends
2.6 Industry vertical trends

Chapter 3 Product Engineering Services Market Industry Insights

3.1 Impact on COVID-19 impact
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Growing demand for technological device aids by buyers
  - 3.10.1.2 Increasing digital transformation across various industry segments
  - 3.10.1.3 Rising deployment of product engineering services by businesses to lower time to market
  - 3.10.1.4 Growing innovation in product engineering services
  - 3.10.1.5 Increasing adoption of product engineering services by SMEs
- 3.10.2 Industry pitfalls & challenges
  - 3.10.2.1 Limited technical knowledge & expertise
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of key market players, 2022
- 4.3.1 Capgemini
- 4.3.2 TATA Consultancy Services Limited
- 4.3.3 HCL Technologies Limited
- 4.3.4 Wipro
- 4.3.5 Tech Mahindra
- 4.3.6 Accenture
- 4.3.7 ALTEN Group
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022

Chapter 5 Product Engineering Services market, By Service

5.1 Key trends, by service
5.2 Product engineering services
- 5.2.1 Market estimates and forecast, 2018 - 2032
- 5.2.2 Product design
  - 5.2.2.1 Market estimates and forecast, 2018 - 2032
- 5.2.3 Product development
  - 5.2.3.1 Market estimates and forecast, 2018 - 2032
- 5.2.4 Product testing
  - 5.2.4.1 Market estimates and forecast, 2018 - 2032
- 5.2.5 Deployment and integration
  - 5.2.5.1 Market estimates and forecast, 2018 - 2032
5.3 Process engineering services
- 5.3.1 Market estimates and forecast, 2018 - 2032
5.4 Support and Maintenance services
- 5.4.1 Market estimates and forecast, 2018 - 2032

Chapter 6 Product Engineering Services market, By Organization size

6.1 Key trends, by organization size
6.2 SMEs
- 6.2.1 Market estimates and forecast, 2018 - 2032
6.3 Large enterprises
- 6.3.1 Market estimates and forecast, 2018 - 2032

Chapter 7 Product Engineering Services Market, By Industry vertical

7.1 Key trends, by industry vertical
7.2 Aerospace & defense
- 7.2.1 Market estimates and forecast, 2018 - 2032
7.3 Automotive & transportation
- 7.3.1 Market estimates and forecast, 2018 - 2032
7.4 BFSI
- 7.4.1 Market estimates and forecast, 2018 - 2032
7.5 Energy & utility
- 7.5.1 Market estimates and forecast, 2018 - 2032
7.6 Healthcare
- 7.6.1 Market estimates and forecast, 2018 - 2032
7.7 Industrial
- 7.7.1 Market estimates and forecast, 2018 - 2032
7.8 IT & telecom
- 7.8.1 Market estimates and forecast, 2018 - 2032
7.9 Oil & gas
- 7.9.1 Market estimates and forecast, 2018 - 2032
7.10 Others
- 7.10.1 Market estimates and forecast, 2018 - 2032

Chapter 8 Product Engineering Services Market, By Region

8.1 Key trends, by region
8.2 North America
- 8.2.1 Market estimates and forecast, 2018 - 2032
- 8.2.2 Market estimates and forecast, by service, 2018 - 2032
- 8.2.3 Market estimates and forecast, by organization size, 2018 - 2032
- 8.2.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.2.5 U.S.
  - 8.2.5.1 Market estimates and forecast, 2018 - 2032
  - 8.2.5.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.2.5.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.2.5.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.2.6 Canada
  - 8.2.6.1 Market estimates and forecast, 2018 - 2032
  - 8.2.6.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.2.6.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.2.6.4 Market estimates and forecast, by industry vertical, 2018 - 2032
8.3 Europe
- 8.3.1 Market estimates and forecast, 2018 - 2032
- 8.3.2 Market estimates and forecast, by service, 2018 - 2032
- 8.3.3 Market estimates and forecast, by organization size, 2018 - 2032
- 8.3.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.3.5 UK
  - 8.3.5.1 Market estimates and forecast, 2018 - 2032
  - 8.3.5.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.3.5.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.3.5.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.3.6 Germany
  - 8.3.6.1 Market estimates and forecast, 2018 - 2032
  - 8.3.6.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.3.6.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.3.6.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.3.7 France
  - 8.3.7.1 Market estimates and forecast, 2018 - 2032
  - 8.3.7.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.3.7.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.3.7.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.3.8 Italy
  - 8.3.8.1 Market estimates and forecast, 2018 - 2032
  - 8.3.8.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.3.8.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.3.8.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.3.9 Spain
  - 8.3.9.1 Market estimates and forecast, 2018 - 2032
  - 8.3.9.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.3.9.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.3.9.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.3.10 Netherlands
  - 8.3.10.1 Market estimates and forecast, 2018 - 2032
  - 8.3.10.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.3.10.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.3.10.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.3.11 Russia
  - 8.3.11.1 Market estimates and forecast, 2018 - 2032
  - 8.3.11.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.3.11.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.3.11.4 Market estimates and forecast, by industry vertical, 2018 - 2032
8.4 Asia Pacific
- 8.4.1 Market estimates and forecast, 2018 - 2032
- 8.4.2 Market estimates and forecast, by service, 2018 - 2032
- 8.4.3 Market estimates and forecast, by organization size, 2018 - 2032
- 8.4.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.4.5 China
  - 8.4.5.1 Market estimates and forecast, 2018 - 2032
  - 8.4.5.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.4.5.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.4.5.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.4.6 India
  - 8.4.6.1 Market estimates and forecast, 2018 - 2032
  - 8.4.6.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.4.6.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.4.6.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.4.7 Japan
  - 8.4.7.1 Market estimates and forecast, 2018 - 2032
  - 8.4.7.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.4.7.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.4.7.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.4.8 South Korea
  - 8.4.8.1 Market estimates and forecast, 2018 - 2032
  - 8.4.8.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.4.8.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.4.8.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.4.9 ANZ
  - 8.4.9.1 Market estimates and forecast, 2018 - 2032
  - 8.4.9.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.4.9.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.4.9.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.4.10 Taiwan
  - 8.4.10.1 Market estimates and forecast, 2018 - 2032
  - 8.4.10.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.4.10.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.4.10.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.4.11 Singapore
  - 8.4.11.1 Market estimates and forecast, 2018 - 2032
  - 8.4.11.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.4.11.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.4.11.4 Market estimates and forecast, by industry vertical, 2018 - 2032
8.5 Latin America
- 8.5.1 Market estimates and forecast, 2018 - 2032
- 8.5.2 Market estimates and forecast, by service, 2018 - 2032
- 8.5.3 Market estimates and forecast, by organization size, 2018 - 2032
- 8.5.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.5.5 Brazil
  - 8.5.5.1 Market estimates and forecast, 2018 - 2032
  - 8.5.5.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.5.5.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.5.5.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.5.6 Mexico
  - 8.5.6.1 Market estimates and forecast, 2018 - 2032
  - 8.5.6.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.5.6.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.5.6.4 Market estimates and forecast, by industry vertical, 2018 - 2032
8.6 MEA
- 8.6.1 Market estimates and forecast, 2018 - 2032
- 8.6.2 Market estimates and forecast, by service, 2018 - 2032
- 8.6.3 Market estimates and forecast, by organization size, 2018 - 2032
- 8.6.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.6.5 UAE
  - 8.6.5.1 Market estimates and forecast, 2018 - 2032
  - 8.6.5.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.6.5.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.6.5.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.6.6 Saudi Arabia
  - 8.6.6.1 Market estimates and forecast, 2018 - 2032
  - 8.6.6.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.6.6.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.6.6.4 Market estimates and forecast, by industry vertical, 2018 - 2032
- 8.6.7 South Africa
  - 8.6.7.1 Market estimates and forecast, 2018 - 2032
  - 8.6.7.2 Market estimates and forecast, by service, 2018 - 2032
  - 8.6.7.3 Market estimates and forecast, by organization size, 2018 - 2032
  - 8.6.7.4 Market estimates and forecast, by industry vertical, 2018 - 2032

Chapter 9 Company Profiles

9.1 Accenture Plc
- 9.1.1 Business Overview
- 9.1.2 Financial Data
- 9.1.3 Product Landscape
- 9.1.4 Strategic Outlook
- 9.1.5 SWOT Analysis
9.2 AKKA Technologies
- 9.2.1 Business Overview
- 9.2.2 Financial Data
- 9.2.3 Product Landscape
- 9.2.4 Strategic Outlook
- 9.2.5 SWOT Analysis
9.3 ALTEN Group
- 9.3.1 Business Overview
- 9.3.2 Financial Data
- 9.3.3 Product Landscape
- 9.3.4 Strategic Outlook
- 9.3.5 SWOT Analysis
9.4 AVL
- 9.4.1 Business Overview
- 9.4.2 Financial Data
- 9.4.3 Product Landscape
- 9.4.4 Strategic Outlook
- 9.4.5 SWOT Analysis
9.5 Capgemini SE
- 9.5.1 Business Overview
- 9.5.2 Financial Data
- 9.5.3 Product Landscape
- 9.5.4 Strategic Outlook
- 9.5.5 SWOT Analysis
9.6 Cyient
- 9.6.1 Business Overview
- 9.6.2 Financial Data
- 9.6.3 Product Landscape
- 9.6.4 Strategic Outlook
- 9.6.5 SWOT Analysis
9.7 Happiest Minds Technologies
- 9.7.1 Business Overview
- 9.7.2 Financial Data
- 9.7.3 Product Landscape
- 9.7.4 Strategic Outlook
- 9.7.5 SWOT Analysis
9.8 Harman International (Samsung)
- 9.8.1 Business Overview
- 9.8.2 Financial Data
- 9.8.3 Product Landscape
- 9.8.4 Strategic Outlook
- 9.8.5 SWOT Analysis
9.9 HCL Technologies Ltd
- 9.9.1 Business Overview
- 9.9.2 Financial Data
- 9.9.3 Product Landscape
- 9.9.4 Strategic Outlook
- 9.9.5 SWOT Analysis
9.10 IBM Corporation
- 9.10.1 Business Overview
- 9.10.2 Financial Data
- 9.10.3 Product Landscape
- 9.10.4 Strategic Outlook
- 9.10.5 SWOT Analysis
9.11 Infosys Limited
- 9.11.1 Business Overview
- 9.11.2 Financial Data
- 9.11.3 Product Landscape
- 9.11.4 Strategic Outlook
- 9.11.5 SWOT Analysis
9.12 LUXOFT
- 9.12.1 Business Overview
- 9.12.2 Financial Data
- 9.12.3 Product Landscape
- 9.12.4 Strategic Outlook
- 9.12.5 SWOT Analysis
9.13 Persistent Systems
- 9.13.1 Business Overview
- 9.13.2 Financial Data
- 9.13.3 Product Landscape
- 9.13.4 Strategic Outlook
- 9.13.5 SWOT Analysis
9.14 Tata Consultancy Services Limited (TCS)
- 9.14.1 Business Overview
- 9.14.2 Financial Data
- 9.14.3 Product Landscape
- 9.14.4 Strategic Outlook
- 9.14.5 SWOT Analysis
9.15 Tech Mahindra Limited
- 9.15.1 Business Overview
- 9.15.2 Financial Data
- 9.15.3 Product Landscape
- 9.15.4 Strategic Outlook
- 9.15.5 SWOT Analysis
9.16 UST
- 9.16.1 Business Overview
- 9.16.2 Financial Data
- 9.16.3 Product Landscape
- 9.16.4 Strategic Outlook
- 9.16.5 SWOT Analysis
9.17 Wipro Limited
- 9.17.1 Business Overview
- 9.17.2 Financial Data
- 9.17.3 Product Landscape
- 9.17.4 Strategic Outlook
- 9.17.5 SWOT Analysis