Market Overview

Engineering Services Outsourcing Market in the US 2018-2022 to Post a CAGR of 24% | Technavio

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Technavio
analysts forecast the engineering services outsourcing market in the US
to grow at a CAGR of over 24% during the forecast period, according to
their latest market research report.

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

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

Outsourcing innovation is one of the major trends being witnessed in the engineering
services outsourcing market in the US 2018-2022
. Several
companies from industries such as automotive, manufacturing, and
pharmaceutical have outsourced a wide variety of functions, ranging from
unimportant and back-end tasks to innovative tasks. Advanced
technologies such as cloud-based delivery, cognitive process automation,
quantum cryptography, security, and AR are also outsourced by several
industries. Therefore, the market for ESO in the US is expected to
witness positive developments, during the forecast period.

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

According to Technavio analysts, one of the key factors contributing to
the growth of the engineering services outsourcing market in the US is
the increasing number of surgeries coupled with the growing prevalence
of diseases:

Engineering services outsourcing market in the
US market: Access to high-quality manpower

The US is an early adopter of advanced technologies such as AI, machine
learning, blockchain, and quantum computing. Hence the demand for
extensive cybercity and smart AI based software solutions from several
industries is high in the country. The complexity and diversity of such
advanced technologies increase the demand for a flexible labor pool with
relevant competencies. Therefore, the growing need for cutting-edge
skill sets will drive the growth of the ESO market in the US.

According to a senior analyst at Technavio for research on ITO and BPO,
"ESO enables companies to bypass the minimum wage regulation and utilize
the services of skilled workers. Therefore, the cost efficiency offered
by ESO is expected to drive the growth of the market in the US during
the forecast period."

Engineering services outsourcing market in the
US: Segmentation analysis

The engineering services outsourcing market in the US research report
provides market segmentation by end-user (telecom, automotive,
healthcare, aerospace, others). It provides an in-depth analysis of the
prominent factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.

The telecom segment held the largest share of the market in 2017,
accounting for close to 23% share, followed by the automotive,
healthcare, and aerospace segments respectively. The telecom segment is
expected to witness the maximum increase in its market share over the
forecast period.

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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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