Technavio
analysts forecast the global engineering services market to post a CAGR
of close to 4% during the period 2018-2022, in their latest market
research report.
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Technavio has published a new market research report on the global engineering services market from 2018-2022. (Graphic: Business Wire)
The proliferation of advanced technologies is a key trend, which is
expected to impact the growth of the global
engineering services market. The extensive proliferation of
advanced technologies across the world is one of the significant trends
in the global engineering services market. 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.
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only: View
market snapshot before purchasing
In this report, Technavio researchers identify the inherent
cost-reduction with the deployment of engineering services as one of the
key factors contributing to the growth of the global engineering
services market:
Global engineering services market:
Cost-reduction with the deployment of engineering services
Reduced overhead cost for industries is one of the primary benefits
associated with employing engineering services. The efficiency of these
solutions helps end-users in increasing the possibility of cost
reduction and improvement of product value. A few of the most commonly
used engineering services are in information technology, designing,
simulation, analysis and consulting. These services are effectively
applicable in various applications from automotive to energy and
utilities.
According to a senior analyst at Technavio for IT professional services
research, “Engineering services help end-user companies in leveraging
technical expertise for quality improvement, building new products, and
improving process efficiency to enhance product value and minimize
overhead cost. The services enable end-users to deploy multiple projects
at various locations and manage rigid budgets and timelines.”
Global engineering services market:
Segmentation and analysis
This market research report segments the global engineering services
market by end-user (others, telecom, automotive, and healthcare) and key
regions (the Americas, APAC, and EMEA).
The others segment which includes manufacturing, aerospace and defense,
semiconductor, and consumer electronics industries, dominated the market
in 2017 with a market share of close to 49%. This segment was followed
by the telecom, automotive and healthcare segments respectively. The
market shares of all the segments remain steady over the forecast period
with very marginal variations.
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About Technavio
Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team
at [email protected].
View source version on businesswire.com: https://www.businesswire.com/news/home/20180603005120/en/
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