San
Francisco, 11 October 2018 - The global engineering services outsourcing (ESO) market is
expected to reach USD 1.49 trillion by 2025, according to a new report by Grand
View Research, Inc. ESO providers play a crucial role in providing mechanical,
technical, and software support to their clients. Due to the growing complexity
of product designing, prototyping, visual designing and engineering, and
Product Lifecycle Management (PLM), the role of ESO vendors has become crucial
to OEMs.
U.S. ESO Market By Application, 2014 - 2025 (USD Billion) |
The engineering services outsourcing business was
primarily aggregated under the Information Technology (IT) or the Business
Process Outsourcing (BPO) industry. However, due to rapid technological
advancement and growing demand, the ESO segment has evolved to expand its
operation in the telecom, aerospace, automotive, healthcare, and other major
verticals by spending heavily on product development and offering engineering
expertise across various industries.
Multinationals based in the U.S., UK, Germany,
France, and Japan among other developed nations are outsourcing services to
countries such as India which provide skillful resources at lower prices.
The threat of Intellectual Property (IP)
confidentiality breach is a barrier to the growing ESO demand. Companies have
to be very vigilant to avoid IP theft, especially in a few offshore locations
where prosecuting firms who allegedly misuse patents and confidential data is
perceived as a difficult task due to the prevalent legal enforcements. IP theft
results in significant losses for the business. As a result, the companies may
not wish to share confidential data with engineering service providers.
Full
Research Report On Global Engineering Services Outsourcing Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/engineering-services-outsourcing-market
www.grandviewresearch.com/industry-analysis/engineering-services-outsourcing-market
Further
key findings from the study suggest:
- Growing at a CAGR of around 30% over the
forecast period, the offshore ESO segment is expected to account for a
greater revenue share of the total market by 2025
- In 2016, the estimated size of the onshore ESO
segment was around USD 70 billion
- The aerospace, consumer electronics, and
telecom ESO segments are expected to witness a robust growth
- The aerospace ESO segment is expected to
account for over 13% of the total revenue share by 2025 and is projected
to be the fastest-growing over the forecast period
- Asia Pacific accounted for the largest market
share of the global ESO industry in 2016; China, India, Vietnam, and the
Philippines were the most sought after global outsourcing destinations
- The key industry participants include EPAM
Systems, Inc., GlobalLogic, Infosys Limited, HCL Technologies Limited,
Luxoft, QuEST Global Services Pte. Ltd., Tech Mahindra Limited, Wipro
Limited, and Tata Consultancy Services Limited
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/communication-services
www.grandviewresearch.com/industry/communication-services
Grand View Research has segmented the market for Engineering Services
Outsourcing (ESO) by application, location, and region.
ESO
Application Outlook (Revenue, USD Billion; 2014 - 2025)
- Aerospace
- Automotive
- Construction
- Consumer
Electronics
- Semiconductor
- Pharmaceutical
- Telecom
- Others
ESO
Location Outlook (Revenue, USD Billion; 2014 - 2025)
- Onshore
- Offshore
ESO
Regional Outlook (Revenue, USD Billion; 2014 - 2025)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Asia
Pacific
- China
- India
- Japan
- South
America
- Brazil
- Middle
East & Africa
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-engineering-services-outsourcing-market
www.grandviewresearch.com/press-release/global-engineering-services-outsourcing-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
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