The
product engineering services market is expected to grow from USD 676.17 Billion
in 2016 to USD 1,003.12 Billion by 2021, at a Compound Annual Growth Rate
(CAGR) of 8.2% during the forecast period. Several factors
such as rising demand for reducing the time to market and need for continuous
innovation and cost efficiency has bolstered the growth of product engineering
services. Verticals such as healthcare, banking, defense, commercial security,
and many more have boosted the product engineering services market.
Download PDF brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=227956689
Growing
popularity of Industrial Internet of Things (IIoTs) is anticipated to have a
positive impact on industry growth over the forecast period. Manufacturers are
anticipated to use IIoT to create new hybrid business model, boost revenue by
increasing production, and exploit the latest technologies to fuel new product
development. The growing need to drive cost efficiencies in the manufacturing
stages is expected to fuel the market for product and component design services
in the product engineering services market during the forecast period.
The
Small and Medium Businesses (SMBs) segment is expected to grow at the highest
CAGR in the product engineering services market by organization size, due to
growing competition that is forcing the smaller industry players to look for
cost-sensitive solutions and reduce overall operational cost. Product
engineering services offer the benefit of cost reduction, enhanced customer
experience, and improved time to market. Meanwhile, large enterprises are
expected to hold the largest market share in the product engineering services
market by organization size, due to increasing price pressure and reduction in
shelf life of products, which is forcing enterprises to look for better
solutions.
The Asia-Pacific (APAC) region is
expected to have major traction of product engineering services due to rise in
demand for organizing the huge workforce in the region. This region is also
facing issues such as aging population, retiring baby boomers, and increasing
number of multigenerational workforce, which needs to be managed and therefore
product engineering services are in demand.
The
major vendors in the product engineering services market include Altran (France),
ALTEN Group (France), AVL (Austria), HCL (India), AKKA Technologies (France),
IBM Corporation (U.S.), and Capgemini (France).
Know More- https://www.marketsandmarkets.com/Market-Reports/product-engineering-services-market-227956689.html
About
MarketsandMarkets™
MarketsandMarkets™
provides quantified B2B research on 30,000 high growth niche
opportunities/threats which will impact 70% to 80% of worldwide companies’
revenues. Currently servicing 7500 customers worldwide including 80% of global
Fortune 1000 companies as clients. Almost 75,000 top officers across eight
industries worldwide approach MarketsandMarkets™ for their painpoints around
revenues decisions.
Our 850
fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth
markets following the "Growth Engagement Model – GEM". The GEM aims
at proactive collaboration with the clients to identify new opportunities,
identify most important customers, write "Attack, avoid and defend"
strategies, identify sources of incremental revenues for both the company and
its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants
(Positioning top players across leaders, emerging companies, innovators,
strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies this
year for their revenue planning and help them take their innovations/disruptions
early to the market by providing them research ahead of the curve.
MarketsandMarkets’s
flagship competitive intelligence and market research platform, "Knowledge
Store" connects over 200,000 markets and entire value chains for deeper
understanding of the unmet insights along with market sizing and forecasts of
niche markets.
Contact:
Mr. Salgarkar
MarketsandMarkets™ INC.
Mr. Salgarkar
MarketsandMarkets™ INC.
630
Dundee Road
Suite
430
Northbrook,
IL 60062
USA:
+1-888-600-6441
No comments:
Post a Comment