Engineering Services Outsourcing Market to grow at a CAGR of 25.68% during the period 2016-2020

Engineering services have been outsourced in recent years on a large scale. However, this time, it is not only to reduce costs but also to bring about innovation in product development. Engineering services are different from other functional outsourcing services due to the nature of complexities involved in various phases of the product development process. Innovation is the key to staying competitive in the marketplace. It is needed for organizations operating in industry verticals such as automotive. The technology landscape in several industry verticals is changing at a rapid pace, which has replaced the legacy system. Publisher's analysts forecast the global engineering services outsourcing market to grow at a CAGR of 25.68% during the period 2016-2020.

The market is divided into the following segments based on geography:
-Americas
-APAC
-EMEA

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Key vendors:
-HCL Technologies
-Infosys
-TCS
-Tech Mahindra
-Wipro

Other prominent vendors:
-Luxoft
-Cyient
-Tata Elxsi
-QuEST Global
-Symphony Teleca
-Aricent
-Mindtree
-Tech Mahindra
-GlobalLogic
-Xchanging
Market driver
-Need to support industrial 4.0 revolution
-For a full, detailed list, view our report

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Market Driver:
-Issues pertaining to IP ownership
-For a full, detailed list, view our report

Market Challenge:
-Issues pertaining to IP ownership
-For a full, detailed list, view our report

Market Trend:
-Emergence of artificial intelligence and machine learning
-For a full, detailed list, view our report

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