Market Overview

Global Engineering Services Outsourcing Market 2018-2022| 27% CAGR Projection Over the Next Five Years| Technavio

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The global engineering services outsourcing market is expected to post a
CAGR of over 27% during the period 2018-2022, according to the latest
market research report by Technavio.

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Technavio has published a new market research report on the global engineering services outsourcing  ...

Technavio has published a new market research report on the global engineering services outsourcing market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is cost savings from lower
labor wages. The expansion of the global economy has resulted in labor
arbitrage, which focuses on the transference of business processes to
less-expensive locations. Organizations gain advantage from labor
arbitrage through the maintenance of lean workforce and spending less on
employee hiring and retention. Organizations that have a shortage of
labor also use outsourced engineering services that give them easy and
direct access to skilled talent and advanced technologies in other
countries. Moreover, outsourcing also allows companies to scale
operations on-demand along with their operational requirements.

This market research report on the global
engineering services outsourcing market 2018-2022
also
provides an analysis of the most important trends expected to impact the
market outlook during the forecast period. Technavio classifies an
emerging trend as a major factor that has the potential to significantly
impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time
only:
View
market snapshot before purchasing

In this report, Technavio highlights the collaborative co-innovation
partnership with outsourcing firms as one of the key emerging trends in
the global engineering services outsourcing market:

Global engineering services outsourcing market:
the collaborative co-innovation partnership with outsourcing firms

Collaborative partnership in outsourcing calls for risk sharing and
value sharing, whereas co-innovation refers to the two parties managing
the flow of knowledge across organizational boundaries and jointly
develop new solutions. Currently, several partnerships are emerging even
though the risks and challenges of outsourcing are deepening each year.
Outsourcing service providers are regarded as integrated strategic
partners of their clients' supply chains. The customer company itself is
invested in the functioning of its outsourcing partner and may be
involved in the continuous monitoring of offshore locations, to ensure
optimum quality of process and management.

"Digital transformation in organizations along with collaborations is
helping to implement cost saving which is a key factor that is driving
the growth of the ESO market,"
says a senior analyst at Technavio
for research on the ITO and BPO sector.

Global engineering services outsourcing market:
Segmentation analysis

This market research report segments the global engineering services
outsourcing market by end-user (automotive, consumer electronics,
telecom, semiconductor, and aerospace).

The automotive segment led the market in 2017 with a market share close
to 28%, followed by consumer electronics and telecom, respectively. The
automotive, consumer electronics, and the telecom industry dominated the
global ESO demand because of the short product lifecycle, which demands
continuous design upgrade, innovations, and safety developments.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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