The global engineering services market is expected to post a CAGR of nearly 4% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global engineering services market 2018-2022. (Photo: Business Wire)
Engineering services help in cost reduction and improve product value which increases its demand among end-users. A few of the most commonly used engineering services are in information technology, designing, simulation, analysis and consulting. These services applicable across different industries from automotive to energy and utilities. Thus, the increased deployment of engineering services due to its ability to reduce overhead cost will boost the global market growth.
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As per Technavio, the proliferation of advanced technologies, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Engineering Services Market: Proliferation of Advanced Technologies
Increased acceptance of innovations and technological advances such as predictive analytics and IIoT is expected to pave the way for the adoption of engineering services throughout industries and verticals. Moreover, the use of advanced technologies helps improve the overall business efficiency and productivity of enterprises. These factors will propel the growth of global engineering services market during the forecast period.
“The rising industrial automation and the increase in market consolidation are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Engineering Services Market: Segmentation Analysis
This market research report segments the global engineering services market by end-user (telecommunication, automotive, healthcare, and others) and geographical regions (APAC, Americas, and EMEA).
The EMEA region will witness the highest incremental growth during the forecast period of 2018-2022. This is due to the growing infrastructural development, high penetration of advanced technologies, and the growing economic activity in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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