Product Engineering Services Market: Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2027

The Product Engineering Services Market size is expected to reach US$ 899.65 Bn. by 2027 from US$ 1482.87 Bn. in 2020, at a CAGR of 7.4% during the forecast period. Product Engineering Services Market To know about the Research Methodology :- Request Free Sample Report

Product Engineering Services Market Dynamics

Technological advancements to drive the market Technological advancements in various industries and penetration of digital devices such as laptops, tablets, and smartphones are the major growth driver of the product engineering market. The emerging trend of industrial automation led manufacturing units to deploy advanced technologies such as IoT, electric sensors, AI, and ML for human-machine communication and M2M communication. It enables the manufacturers to collect and manage data such as cost of machinery, maintenance time, time-taken for manufacturing of products, etc., which helps to reduce the wastage, downtime of machinery, production cost and increase the productivity and ROI on the assets. However, the increasing use of cutting-edge solutions in the automobile industry for in-vehicle information networks, entertainment, and to enhance driver’s safety is expected to create many lucrative opportunities for the product engineering market as the connected solutions require programming to work properly. In recent times increasing use of smartphones and demand for smart homes and office devices have surged the demand for the development of innovative technologies and software products. As result, product engineering plays a vital role in designing, developing, maintaining, and testing innovative technologies and software, which is expected to boost the market.

Product Engineering Services Market Segment Analysis

Product Engineering Services MarketThe software engineering segment is expected to grow at the highest CAGR of XX% during the forecast period. Software engineering includes computer programming, algorithms, design patterns for Network systems, applications, games, etc. Increasing use of the internet and penetration of digital devices has surged the demand for applications and software thereby software engineering. However, the increasing adoption of cloud computing by various end-use industries is expected to boost the market in the software engineering segment. Software engineering helps to design, develop, maintain, and upgrade cloud-based software.

Global Product Engineering Services Regional Insights

North America is expected to witness highest growth during forecast period North America is expected to dominate the market at the largest market share of XX% by 2027. The dominance is attributed to the high adoption of advanced technologies for smart homes, offices, and industrial automation in countries like the US and Canada. Growing smart infrastructure and expansion of various industries in the region is expected to create many lucrative opportunities for the adoption of advanced technologies thereby the product engineering market. Further, the presence of a large number of IT industries and increasing investment in the development of new cutting-edge technologies can raise the demand for advanced technologies in the countries like the US and Canada, which is expected to boost the market in North America. The Asia Pacific is expected to witness significant growth during the forecast period due to growing industrialization in countries like India and China. Many industries are moving towards the adoption of advanced technologies such as IoT, AI, ML, etc. is expected to boost the market. However, increasing investment of global IT service providers in developing countries like India and China due to the availability of land and low-cost labor is expected to create many lucrative opportunities for the market. The objective of the report is to present a comprehensive analysis of the Product Engineering Services Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SWOT, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Product Engineering Services Market dynamic, structure by analyzing the market segments and project Product Engineering Services Market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the Product Engineering Services Market make the report investor’s guide.

Product Engineering Services Market scope: Inquire before buying

Product Engineering Services Market

Product Engineering Services Market, by Region:

• North America • Europe • Asia-Pacific • South America • Middle East & Africa

Product Engineering Services Market Key Players

IBM Corporation • Capgemini • Altran • ALTEN Group • AVL • HCL • AKKA Technologies Wipro • TCS • Accenture • Tech Mahindra • Infosys • Nexient • EPAM Systems, Inc, • Pactera Edge • Cognizant • Bitcomm Technologies • Segula Technologies • Assystem • Excella Consulting • Aeturnum • Zerone Consulting • Weichai • Ricardo • Infotel • Combitech • Roland Berger

Frequently Asked Questions:

1. Which region has the largest share in Product Engineering Services Market? Ans: North America region holds the highest share in 2020. 2. What is the growth rate of Product Engineering Services Market? Ans: The Product Engineering Services Market is growing at a CAGR of 7.4% during forecasting period 2021-2027. 3. What segments are covered in Product Engineering Services Market? Ans: Product Engineering Services Market is segmented into type of service and region. 4. Who are the key players in Product Engineering Services Market? Ans: The important key players in the Product Engineering Services Market are – IBM Corporation, Capgemini, Altran, ALTEN Group, AVL, HCL, AKKA Technologies, Wipro, TCS, Accenture, Tech Mahindra, Infosys 5. What is the study period of this market? Ans: The Product Engineering Services Market is studied from 2020 to 2027.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Product Engineering Services Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2020 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Product Engineering Services Market 3.4. Geographical Snapshot of the Product Engineering Services Market, By Manufacturer share 4. Product Engineering Services Market Overview, 2020-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Product Engineering Services Market 5. Supply Side and Demand Side Indicators 6. Product Engineering Services Market Analysis and Forecast, 2020-2027 6.1. Product Engineering Services Market Size & Y-o-Y Growth Analysis. 7. Product Engineering Services Market Analysis and Forecasts, 2020-2027 7.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 7.1.1. Software engineering 7.1.2. Hardware engineering 7.1.3. Process engineering 7.1.4. Others 7.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 7.2.1. BFSI 7.2.2. IT & Telecom 7.2.3. Automotive 7.2.4. Industrial manufacturing 7.2.5. Energy & Utilities 7.2.6. Healthcare 7.2.7. Aerospace & defense 7.2.8. Others 8. Product Engineering Services Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2020-2027 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Product Engineering Services Market Analysis and Forecasts, 2020-2027 9.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 9.1.1. Software engineering 9.1.2. Hardware engineering 9.1.3. Process engineering 9.1.4. Others 9.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 9.2.1. BFSI 9.2.2. IT & Telecom 9.2.3. Automotive 9.2.4. Industrial manufacturing 9.2.5. Energy & Utilities 9.2.6. Healthcare 9.2.7. Aerospace & defense 9.2.8. Others 10. North America Product Engineering Services Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Product Engineering Services Market Analysis and Forecasts, 2020-2027 11.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 11.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 12. Canada Product Engineering Services Market Analysis and Forecasts, 2020-2027 12.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 12.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 13. Mexico Product Engineering Services Market Analysis and Forecasts, 2020-2027 13.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 13.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 14. Europe Product Engineering Services Market Analysis and Forecasts, 2020-2027 14.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 14.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 15. Europe Product Engineering Services Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Product Engineering Services Market Analysis and Forecasts, 2020-2027 16.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 16.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 17. France Product Engineering Services Market Analysis and Forecasts, 2020-2027 17.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 17.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 18. Germany Product Engineering Services Market Analysis and Forecasts, 2020-2027 18.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 18.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 19. Italy Product Engineering Services Market Analysis and Forecasts, 2020-2027 19.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 19.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 20. Spain Product Engineering Services Market Analysis and Forecasts, 2020-2027 20.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 20.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 21. Sweden Product Engineering Services Market Analysis and Forecasts, 2020-2027 21.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 21.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 22. CIS Countries Product Engineering Services Market Analysis and Forecasts, 2020-2027 22.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 22.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 23. Rest of Europe Product Engineering Services Market Analysis and Forecasts, 2020-2027 23.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 23.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 24. Asia Pacific Product Engineering Services Market Analysis and Forecasts, 2020-2027 24.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 24.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 25. Asia Pacific Product Engineering Services Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Product Engineering Services Market Analysis and Forecasts, 2020-2027 26.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 26.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 27. India Product Engineering Services Market Analysis and Forecasts, 2020-2027 27.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 27.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 28. Japan Product Engineering Services Market Analysis and Forecasts, 2020-2027 28.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 28.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 29. South Korea Product Engineering Services Market Analysis and Forecasts, 2020-2027 29.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 29.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 30. Australia Product Engineering Services Market Analysis and Forecasts, 2020-2027 30.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 30.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 31. ASEAN Product Engineering Services Market Analysis and Forecasts, 2020-2027 31.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 31.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 32. Rest of Asia Pacific Product Engineering Services Market Analysis and Forecasts, 2020-2027 32.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 32.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 33. Middle East Africa Product Engineering Services Market Analysis and Forecasts, 2020-2027 33.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 33.2. Market Size (Value) Estimates & Forecast By Service Model, 2020-2027 33.3. Market Size (Value) Estimates & Forecast By Deployment Model, 2020-2027 33.4. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 34. Middle East Africa Product Engineering Services Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Product Engineering Services Market Analysis and Forecasts, 2020-2027 35.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 35.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 36. GCC Countries Product Engineering Services Market Analysis and Forecasts, 2020-2027 36.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 36.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 37. Egypt Product Engineering Services Market Analysis and Forecasts, 2020-2027 37.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 37.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 38. Nigeria Product Engineering Services Market Analysis and Forecasts, 2020-2027 38.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 38.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 39. Rest of ME&A Product Engineering Services Market Analysis and Forecasts, 2020-2027 39.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 39.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 40. South America Product Engineering Services Market Analysis and Forecasts, 2020-2027 40.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 40.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 41. South America Product Engineering Services Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Product Engineering Services Market Analysis and Forecasts, 2020-2027 42.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 42.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 43. Argentina Product Engineering Services Market Analysis and Forecasts, 2020-2027 43.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 43.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 44. Rest of South America Product Engineering Services Market Analysis and Forecasts, 2020-2027 44.1. Market Size (Value) Estimates & Forecast By Type of Services, 2020-2027 44.2. Market Size (Value) Estimates & Forecast By Industry, 2020-2027 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Product Engineering Services Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. IBM Corporation 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Capgemini 45.3.3. Altran 45.3.4. ALTEN Group 45.3.5. AVL 45.3.6. HCL 45.3.7. AKKA Technologies 45.3.8. Wipro 45.3.9. TCS 45.3.10. Accenture 45.3.11. Tech Mahindra 45.3.12. Infosys 45.3.13. Nexient 45.3.14. EPAM Systems, Inc, 45.3.15. Pactera Edge 45.3.16. Cognizant 45.3.17. Bitcomm Technologies 45.3.18. Segula Technologies 45.3.19. Assystem 45.3.20. Excella Consulting 45.3.21. Aeturnum 45.3.22. Zerone Consulting 45.3.23. Weichai 45.3.24. Ricardo 45.3.25. Infotel 45.3.26. Combitech 45.3.27. Roland Berger 46. Primary Key Insights

About This Report

Report ID122268
Category Information Technology & Telecommunication
Published DateOct 2021
Updated Date
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