According to a new study of Fact.MR, the global demand for product engineering services is envisaged to account for the revenues worth US$ 26 Bn by the end of 2019. While gains will be particularly underpinned by the aggravating demand for shorter product life cycles, it is highly likely that myriad opportunities are underway for vendors of product engineering services, following the dramatic rise of new product launches across various industry verticals. Software and product development and engineering services have garnered the center stage in IT and telecom sector in the recent past, according to the report.
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The Fact.MR study opines that though product engineering services are comparatively new for several small and medium businesses (SMBs), a considerably high number of businesses are already opting for outsourced product engineering services for enhanced operational efficiency. SMBs are likely to create notable traction for product engineering services over the years to come, owing to the enhanced customer experience and cost reduction benefits of these services.
The Product Engineering Services market study outlines the key regions – North America, Latin America, Europe, Japan, APEJ, and MEA – alongwith the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Accenture, Altran, Cognizant, Global Logic, Happiest Mind, Infosys, Luxoft, Persistent System, Tech Mahindra, Wipro, Others.
The Product Engineering Services market report addresses the below-mentioned queries:
• Why are vendors shifting away from traditional methods of manufacturing Product Engineering Services?
• How does the global Product Engineering Services market looks like in the next five years?
• Which end use industry is expected to surpass segment by the end of 2029?
• What innovative products are being introduced by the players in the global Product Engineering Services market?
• Which regions are showing the fastest market growth?
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On the basis of Service Type, the Product Engineering Services market study consists of
• New Product Development
• Product Testing
• Product Sustenance
• Product Deployment
• Product Support
• Product Management
On the basis of end use, the Product Engineering Services market study incorporates:
• Aerospace & Defense
• Automotive & Transportation
• Consumer Electronics
• IT & Telecom
Crucial insights in the Product Engineering Services market research:
• Underlying macro- and microeconomic factors impacting the growth of the Product Engineering Services market.
• Basic overview of the Product Engineering Services, including market definition, classification, and applications.
• Scrutinization of each Product Engineering Services market player based on mergers & acquisitions, R&D projects, and product launches.
• Adoption trend of Product Engineering Services across various industries.
• Important regions and countries offering lucrative opportunities to Product Engineering Services market stakeholders.
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