The Global Engineering Services Outsourcing (ESO) Market is
expected to reach USD 415.74 billion by 2020, according to a new study by Grand
View Research, Inc. Increased cost pressures on global firms resulting in
constrained R&D budgets is a primary driver for market growth over the
forecast period. Additionally, shorter product life cycles owing to dynamic
consumer buying behavior are also expected to favorably impact market growth.
Enhancement in production process, cost advantage
and lowered time-to-market are some of the other factors expected to boost
market growth. Threat of intellectual property (IP) theft may pose a challenge
to industry growth as it results in significant losses for businesses. Legal
enforcements in a few offshore locations make it difficult for prosecuting
firms which misuse confidential data and patents.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/engineering-services-outsourcing-market
Further
key findings from the study suggest:
- ESO demand in telecom accounted for over 20% of the overall market in 2013. Telecommunications service providers have been implementing operations and business support systems for ensuring smooth business operations. This requires significant back-end expertise and equipment, thus propelling the use of ESO in systems. The consumer electronics segment is expected to witness the fastest growth over the forecast period. This can be primarily attributed to drastic reduction in product life cycles, forcing companies to bring about product innovations at a faster rate.
- Asia Pacific was the largest regional market in 2013, accounting for over 50% of the total demand; it is further expected to remain the market leader over the forecast period. This is mainly on account of the presence of a large talent pool, strong manufacturing base, emerging local demand and cost arbitrage in countries such as China and India. The market in Europe is expected to grow at a CAGR of over 25% from 2014 to 2020, owing to an inclination among several European firms to outsource engineering activities within the same country or within Western European nations for ensuring regulatory compliance.
- Key industry participants include HCL Technologies Ltd, Wipro, Tata Consultancy Services and Infosys Ltd. Other companies operating in the market include VanceInfo Technologies Inc., Tata ELXSI, QuEST Global, MindTree Ltd., KPIT Cummins Infosystems Ltd., Infotech Enterprises Ltd., IGATE Corp., GlobalLogic, EPAM Services, Cybage Software Pvt. Ltd., Calsoft Labs, Aricent Group, etc.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/communication-services
For the purpose of this study, Grand
View Research has segmented the global engineering services outsourcing market
on the basis of end-use and region:
ESO
End-Use Outlook (Revenue, USD Billion, 2012 – 2020)
• Aerospace
• Automotive
• Construction
• Consumer Electronics
• Semiconductors
• Pharmaceuticals
• Telecom
• Others
ESO
Regional Outlook (Revenue, USD Billion, 2012 – 2020)
• North America
• Europe
• Asia Pacific
• RoW
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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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