Product Engineering Services Market by Service Type, Industry

Description

List of Tables

The Global Product Engineering Services Market is forecasted to grow significantly, with a projected USD 88.46 billion in 2023 at a CAGR of 7.62% and expected to reach a staggering USD 148.34 billion by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Product Engineering Services Market. The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Product Engineering Services Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Service Type, market is studied across Maintenance & Support, Product Engineering, and Sustenance/Re-engineering. The Product Engineering is further studied across Deployment, Design, Development, and Testing. The Product Engineering commanded largest market share of 62.99% in 2022, followed by Maintenance & Support.

Based on Industry, market is studied across Aerospace & Defense, Automotive & Transportation, Building & Construction, Chemical & Petrochemical, Energy & Power, Healthcare & Life Sciences, Industrial Manufacturing, and IT & Telecommunications. The Healthcare & Life Sciences commanded largest market share of 14.86% in 2022, followed by IT & Telecommunications.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 36.25% in 2022, followed by Americas.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Product Engineering Services Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation

5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Product Engineering Services Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Product Engineering Services Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Product Engineering Services Market?

4. What is the competitive strategic window for opportunities in the Global Product Engineering Services Market?

5. What are the technology trends and regulatory frameworks in the Global Product Engineering Services Market?

6. What is the market share of the leading vendors in the Global Product Engineering Services Market?

7. What modes and strategic moves are considered suitable for entering the Global Product Engineering Services Market?

Product Code: MRR-67236922868A

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Product Engineering Services Market, by Service Type, 2022 vs 2030
4.3. Product Engineering Services Market, by Industry, 2022 vs 2030
4.4. Product Engineering Services Market, by Region, 2022 vs 2030

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing adoption of product engineering services in healthcare & lifesciences sector to improve patient safety and meet regulatory requirements
  - 5.1.1.2. Adoption of new age engineering and digital technology models to produce innovative products across automotive sector
  - 5.1.1.3. Growing the need for sustainable and cost effective solutions in aerospace & defense industry
- 5.1.2. Restraints
  - 5.1.2.1. Need for numerous software iterations and bug testing for product development
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of industrial internet of things in product engineering services to boost operational efficiency
  - 5.1.3.2. Adaptation of advanced techniques including agile, and just-in-time in product engineering services
- 5.1.4. Challenges
  - 5.1.4.1. Issues pertaining to data privacy in product engineering services
5.2. Market Trends
5.3. Cumulative Impact of COVID-19
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework
5.9. Client Customization

6. Product Engineering Services Market, by Service Type

6.1. Introduction
6.2. Maintenance & Support
6.3. Product Engineering
- 6.3.1. Deployment
- 6.3.2. Design
- 6.3.3. Development
- 6.3.4. Testing
6.4. Sustenance/Re-engineering

7. Product Engineering Services Market, by Industry

7.1. Introduction
7.2. Aerospace & Defense
7.3. Automotive & Transportation
7.4. Building & Construction
7.5. Chemical & Petrochemical
7.6. Energy & Power
7.7. Healthcare & Life Sciences
7.8. Industrial Manufacturing
7.9. IT & Telecommunications

8. Americas Product Engineering Services Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Product Engineering Services Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Product Engineering Services Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. FPNV Positioning Matrix
11.2. Market Share Analysis, By Key Player
11.3. Competitive Scenario Analysis, By Key Player
- 11.3.1. Merger & Acquisition
  - 11.3.1.1. Cognizant to acquire Mobica to enhance its IoT software engineering service offerings
  - 11.3.1.2. ACL Digital Acquires AFour Technologies, a Next-Generation 360° Software Product Engineering Company to Expand and Scale its Product Engineering & Digital Capabilities
  - 11.3.1.3. NTT DATA Announces Intent to Acquire Umvel
  - 11.3.1.4. IBM Acquires Dialexa to Speed Digital Innovation
- 11.3.2. Agreement, Collaboration, & Partnership
  - 11.3.2.1. L&T Technology Services Selected as Strategic Engineering Partner to Airbus for Advanced Capabilities and Digital Manufacturing Services
  - 11.3.2.2. S&P Global Announces Agreement to Sell Engineering Solutions Business to KKR
  - 11.3.2.3. Tech Mahindra and SoftTech Join Forces to Digitally Transform the Global Construction and Infrastructure Industry
  - 11.3.2.4. Yield Engineering Systems Partners with Benchmark for Global Engineering and Manufacturing Support
  - 11.3.2.5. Spirit AeroSystems Enters Five-year Collaboration with Infosys to Co-innovate Aerostructure and Systems Engineering Services

12. List of Company Mentioned

13. Appendix

13.1. Discussion Guide
13.2. License & Pricing

1. Accenture PLC

2. Akka Technologies Group

3. Alfanar Group

4. Algoscale Technologies, Inc.

5. Alten Group

6. Aquanima S.A.

7. Assystem S.A.

8. Bitcomm Technologies Private Limited

9. Broadcom Inc.

10. Calsoft Inc.

11. Capgemini SE

12. Centific Global Solutions, Inc.

13. Citec Group Oy Ab

14. CloudMoyo, Inc.

15. Cognizant Technology Solutions Corporation

16. Corbus, LLC

17. Damco Group

18. DXC Technology Company

19. eInfochips, Inc.

20. EPAM Systems, Inc.

21. Genpact

22. Hakuna Matata Solutions Private Limited

23. Happiest Minds Technologies Pvt. Ltd.

24. HCL Technologies Limited

25. Hinduja Tech Limited

26. Infinite Computer Solutions Inc.

27. Infosys Limited

28. Intellectsoft LLC

29. International Business Machines Corporation

30. ITC Infotech India Ltd.

31. Mphasis Limited

32. NeST Digital Pvt Ltd.

33. Nexient LLC

34. Nous Infosystems Pvt. Ltd.

35. Oracle Corporation

36. Producement

37. Proxima Systems Private Limited

38. Ranosys Technologies Private Limited

39. Safran S.A.

40. Sapphire Software Solutions

41. Segula Technologies Group

42. Tata Consultancy Services Limited

43. Tech Mahindra Limited

44. Terasol Technologies Pvt. Ltd.

45. ThinkPalm Technologies Pvt. Ltd.

46. TransformHub

47. Vee Technologies Private Limited

48. VOLANSYS Technologies Private Limited

49. Wipro Ltd.

50. WNS Holdings Ltd.

51. Xoriant Corporation