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Electronics & ICT

Global Product Engineering Services Market Research Report 2021, Industry Growth Trends, Competitive Analysis And Forecast 2028

Global Product Engineering Services Market By Service (Product and Component Design, Process Engineering, Maintenance, Repair and Operations, Others), Organization Size (Small and Medium Enterprises, Large Enterprises), Industry Vertical (Automotive, Aerospace & Defense, Healthcare, IT, Industrial Manufacturing, Energy & Utilities, Telecom, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa) – Industry Trends and Forecast to 2026

Market Analysis: Global Product Engineering Services Market
Global product engineering services market is set to witness a substantial CAGR of 9.25% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market value can be attributed due to the introduction of web 2.0 technologies and utility based software delivery through SaaS. The adoption of new engineering models and digital technology models has led to the growth of more efficient products in terms of cost and quality.

Market Definition: Global Product Engineering Services Market
Product engineering refers to the process of designing, innovating, developing, deploying and testing a software product. Product engineering services are the engineering consulting services which involves various hardware, embedded, software and IT solutions for the manufacturing of product in the cost effective manner. The main need of company is to reduce time and cost of market without compromising the quality. It provides personalized technologies and products for market, engineering innovative customer experiences and ensuring global product compliance.

Market Drivers:

Surging demand for the accelerating time to market, is driving the growth of the market
The need and demand for continuous innovation and technological upgradation, is driving the growth of the market
The rising need among the manufacturers to reduce the production cost, is boosting the growth of the market
The increasing adoption rate of internet of things, is driving the growth of the market
The increasing rate of R&D by the SME’s, is propelling the growth of the market
Market Restraints:

The fear among the manufacturers of losing control over intellectual property rights, is restricting the growth of the market
The wide difference of culture in respect to product philosophy and design, hampers the market growth
Segmentation: Global Product Engineering Services Market
By Service

Product and Component Design
New Product Development
Design Support
Software Engineering
Embedded Software Services
Independent Software Services
Hardware Engineering
Prototype Testing
Process Engineering
Manufacturing Engineering Support
Knowledge Based Engineering
Maintenance, Repair and Operations
By Organization Size

Small and Medium Enterprises
Large Enterprises
By Industry Vertical

Aerospace and Defense
Industrial Manufacturing
Energy and Utilities
By Geography

North America
South America
Rest of South America
Rest of Europe
South Korea
Rest of Asia-Pacific
Middle East & Africa
South Africa
Saudi Arabia
United Arab Emirates
Rest of Middle East & Africa
Key Developments in the Market:

In December 2016, ALTRAN has declared the acquisition of Pricol Limited to increase their offerings into embedded systems, industrial design, mechanical design, prototyping, testing support and contract manufacturing through which it can serve the automotive, medical, consumer and industrial sectors.
In August 2016, AVL List GmbH announced its acquisition of Dacolt International BV to improve their advance simulation technology with the advent of Dacolt’s new simulation applications in the field of industrial combustion.
Competitive Analysis

Global product engineering services market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of product engineering services market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Major Market Competitors/Players

Few of the major competitors currently working in the global product engineering services market are ALTRAN, IBM Corporation, Lightbend, Inc., Wipro Limited, Happiest Minds, AVL List GmbH, Capgemini, Accenture, ALTEN Group, Tata Consultancy Services Limited, HCL Technologies Limited, HARMAN International, Nexient, EPAM Systems, Inc., Pactera Edge, Tech Mahindra Limited, Genpact, Infosys Limited, Cognizant, BITCOMM TECHNOLOGIES, LUXOFT, eInfochips, VOLANSYS Technologies, ITC Infotech India Ltd., CYGNET INFOTECH, Trigent Software, Inc. among others.

Research Methodology: Global Product Engineering Services Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by LBI research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Key Insights in the report:

Complete and distinct analysis of the market drivers and restraints
Key Market players involved in this industry
Detailed analysis of the Market Segmentation
Competitive analysis of the key players involved
Table of Contents

1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Stakeholders

2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.3 Breakdown of Primary Interviews
2.1.4 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions & Limitation
2.4 Limitations

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 27)
4.1 Attractive Market Opportunities in the Global Market
4.2 Market, By Service
4.3 Product Engineering Services Global Market
4.4 Lifecycle Analysis, By Region

5 Product Engineering Services Market Overview (Page No. - 30)
5.1 Introduction
5.1.1 Market Evolution
5.2 Market Segmentation
5.2.1 By Service
5.2.2 By Organization Size
5.2.3 By Vertical
5.2.4 By Region
5.3 Market Dynamics
5.3.1 Drivers Increasing Demand for Accelerating TTM Need for Continuous Innovation and Iteration The Growing Need to Reduce Production Cost
5.3.2 Restraints Fear of Losing Control Over Intellectual Property Rights Cultural Differences in Terms of Product Philosophy and Design
5.3.3 Opportunities Smart Manufacturing Emergence of IoT
5.3.4 Challenges Need for Excellent Feedback Loops and Constant Management Differences May Arise in the Testing Phase

6 Industry Trends (Page No. - 38)
6.1 Introduction
6.2 Strategic Benchmarking
6.2.1 Strategic Benchmarking: New Product Launches, Acquisitions, and Partnerships of Top Vendors

7 Product Engineering Services Market Analysis, By Service (Page No. - 41)
7.1 Introduction
7.2 Product and Component Design
7.2.1 New Product Development
7.2.2 Design Support
7.2.3 Software Engineering Embedded Software Services Independent Software Services
7.2.4 Hardware Engineering
7.2.5 Prototype Testing
7.3 Process Engineering
7.3.1 Manufacturing Engineering Support
7.3.2 Knowledge-Based Engineering (KBE)
7.4 Maintenance, Repair, and Operations
7.5 Others

8 Product Engineering Services Market Analysis, By Organization Size (Page No. - 53)
8.1 Introduction
8.2 Small and Medium Enterprises
8.3 Large Enterprises

9 Product Engineering Services Market Analysis, By Vertical (Page No. - 57)
9.1 Introduction
9.2 Automotive
9.3 Aerospace and Defense
9.4 Healthcare
9.5 IT
9.6 Industrial Manufacturing
9.7 Energy and Utilities
9.8 Telecom
9.9 Others

10 Geographic Analysis (Page No. - 65)
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Middle East and Africa
10.6 Latin America

11 Competitive Landscape (Page No. - 83)
11.1 Overview
11.2 Competitive Situations and Trends
11.2.1 New Product Launches
11.2.2 Partnerships, Agreements, and Collaborations
11.2.3 Mergers and Acquisitions

12 Company Profiles (Page No. - 89)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
12.1 Introduction
12.2 Altran
12.3 Alten Group
12.4 AVL
12.5 HCL Technologies Limited
12.6 Akka Technologies
12.7 International Business Machines (IBM) Corporation
12.8 Capgemini
12.9 Tata Consultancy Services (TCS) Limited
12.10 Wipro Limited
12.11 Accenture PLC
12.12 Happiest Minds Technologies
12.13 Key Innovators
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 122)
13.1Author Details
  • PUBLISHED DATE: Feb, 2021
  • NO OF PAGES: 125