Description
The
objective of this report is to define, describe, and forecast the market on the
basis of type, application, medical condition, and region. It provides detailed
information regarding the major factors influencing the growth of the market.
This report also tracks and analyzes competitive developments of the key
players in terms of market developments, product portfolios, and financials
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The
engineering services outsourcing market (ESO) is expected to reach nearly USD
415 billion by 2020. It is expected to grow at a CAGR of over 25% during the
forecast period (2014-2020). Focus on performance, innovation, reliability and
safety will drive the engineering services outsourcing market in the near future.
Mergers between OEMs (original equipment manufacturers) and suppliers remain
the primary driver of this market.
ESO
or engineering outsourcing services refers to outsourcing the services of
design and simulation to engineering service providers. Factors such as
efficiency, low costs, and low time-to-market delivery lead to outsourcing of
these services. But the recent economic crisis of 2008 forced competitors to
outsource their services to survive the competition.
Security
threats and intellectual property rights seem to be the only concerns
restraining the growth of the engineering services outsourcing market. The
global market is segmented by services, end-users, and regions. Services
comprise drafting and 3D modeling, plant design/process engineering,
engineering analysis, design automation, control engineering, product design
and testing, manufacturing engineering, and embedded systems.
End-users
of ESO are semiconductors, aerospace, pharmaceuticals, automotive, and consumer
electronics. The telecom industry is dependent on the engineering services
outsourcing market and was valued at USD 16 billion in 2013. It will grow at a
CAGR exceeding 30% during the forecast period. For example, Apple Inc. releases
new models for its signature brand of smartphones with enhanced features and
longer lifecycles.
Regions
include Asia Pacific, Europe, North America, and Rest of the World (RoW). Asia
Pacific leads the global market in terms of demand in 2013. It was valued over
30 billion in the same year. It is estimated to reach over USD 220 billion by
2020.
The
emerging demand and costs, accompanied by the large talent pool make the Asian
Pacific region a sought-after destination. Europe was the second largest, in
terms of market demand in 2013. It was valued over USD 15 billion in 2013 and
expects to grow at a CAGR of over 29% during the forecast period. Major players
in the engineering services outsourcing (ESO) market are Wipro, Infosys, Tech
Mahindra, Cybage Software Pvt. Ltd., and Vanceinfo Technologies
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This
report is a complete study of current trends in the market, industry growth
drivers, and restraints. It provides market projections for the coming years.
It includes analysis of recent developments in technology, Porter’s five force
model analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing market
players and new entrants along with detailed value chain analysis
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