Market Overview:
The global product engineering services market is expected to grow at a CAGR of 9.5% from 2018 to 2030. The market growth is attributed to the increasing demand for product engineering services from small and medium businesses (SMBs) and enterprises across the globe. The pure-play segment is expected to grow at a higher CAGR than the broad-based segment during the forecast period. North America accounted for the largest share of the global product engineering services market in 2017, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa.
Product Definition:
Product engineering services refer to the comprehensive range of engineering and design services that are used to help develop a product. This can include everything from researching customer needs and designing prototypes to manufacturing the finished product. Product engineering services can be very important in helping companies bring new products to market quickly and efficiently.
Pure-play:
Pure-play is an independent business with a single product or service offering. It has no distribution channel and limited or no interaction with other businesses in the market. Pure-plays are prevalent across various industries such as consumer goods, retail, telecom & IT and media. The key drivers for the growth of pure plays include rapid technological advancements leading to introduction of new products along with low entry barriers due to presence of unorganized sector in the industry.
Broad-based:
Broad-based is a cost-effective method to provide engineering services in large projects. It includes all the phases of product development such as concept generation, solution finding, design and engineering, prototyping and testing along with delivering end-to-end solutions for manufacturing & supply chain partners.
Application Insights:
The global product engineering services market is segmented by application into small and medium-sized businesses (SMBs), enterprises, and others. The SMBs segment held the largest share in 2017. This can be attributed to factors such as increasing penetration of e-commerce platforms, rapid growth of online retailers, and rising disposable income among consumers in developing economies such as India, China, Brazil etc. Furthermore, companies are also realigning their strategies to cater to this growing demand from SMBs by providing them with flexible resources that can help them develop innovative products within budget constraints while maintaining high quality standards.
Enterprises are expected to emerge as the fastest-growing segment over the forecast period owing to a number of factors including changing dynamics of business operations due largely but not exclusively manufacturing activities offshore where labor costs are low resulting in increased offshore production coupled with onshore logistics leading ultimately higher profit margins for multinational corporations (MNCs).
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing investments in developing countries such as China and India. For instance, in 2017, Siemens invested around USD X million for setting up a gas turbine manufacturing plant in Chhattisgarh, India. This initiative was taken to meet the growing demand from industries such as energy and power generation across Asia Pacific region.
Europe accounted for more than 25% of global revenue share in 2017 owing to high demand from SMBs and enterprises sectors across European countries including Germany, U.K., Italy among others which are majorly served by Siemens products & services globally due to its strong distribution network within Europe itself thus making it one of its key revenue generators globally along with North America & Asia Pacific regions collectively (see Figure 1).
Growth Factors:
- Increasing demand for product engineering services from the automotive and aerospace industries
- Rapid growth in the number of product launches by technology companies
- Rising demand for customized product engineering services
- Emergence of new product engineering service providers
- Growing popularity of 3D printing and other advanced manufacturing technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Product Engineering Services Market Research Report
By Type
Pure-play, Broad-based
By Application
Small and Medium Businesses (SMBs), Enterprises
By Companies
Altran, Alten Group, AVL, HCL Technologies, Akka Technologies, Cygnet Infotech, Accenture, Wipro, AF, Bertrandt Services, IAV, Capgemini, Tata Consultancy Services, Segula, IBM, EDAG Group, Infosys, Cognizant, Harman Connected Services
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
205
Number of Tables & Figures
144
Customization Available
Yes, the report can be customized as per your need.
Global Product Engineering Services Market Report Segments:
The global Product Engineering Services market is segmented on the basis of:
Types
Pure-play, Broad-based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Small and Medium Businesses (SMBs), Enterprises
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Altran
- Alten Group
- AVL
- HCL Technologies
- Akka Technologies
- Cygnet Infotech
- Accenture
- Wipro
- AF
- Bertrandt Services
- IAV
- Capgemini
- Tata Consultancy Services
- Segula
- IBM
- EDAG Group
- Infosys
- Cognizant
- Harman Connected Services
Highlights of The Product Engineering Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Pure-play
- Broad-based
- By Application:
- Small and Medium Businesses (SMBs)
- Enterprises
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Product Engineering Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Product engineering services are a type of consulting that provide guidance and support to product managers in the development and management of products. Services may include helping to identify customer needs, developing product specifications, conducting market research, creating marketing plans, and managing the development process.
Some of the major players in the product engineering services market are Altran, Alten Group, AVL, HCL Technologies, Akka Technologies, Cygnet Infotech, Accenture, Wipro, AF, Bertrandt Services, IAV, Capgemini, Tata Consultancy Services, Segula, IBM, EDAG Group, Infosys, Cognizant, Harman Connected Services.
The product engineering services market is expected to register a CAGR of 9.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Product Engineering Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Product Engineering Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Product Engineering Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Product Engineering Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Product Engineering Services Market Size & Forecast, 2020-2028
4.5.1 Product Engineering Services Market Size and Y-o-Y Growth
4.5.2 Product Engineering Services Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Pure-play
5.2.2 Broad-based
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Small and Medium Businesses (SMBs)
6.2.2 Enterprises
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Product Engineering Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Product Engineering Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Pure-play
9.6.2 Broad-based
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Small and Medium Businesses (SMBs)
9.10.2 Enterprises
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Pure-play
10.6.2 Broad-based
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Small and Medium Businesses (SMBs)
10.10.2 Enterprises
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Pure-play
11.6.2 Broad-based
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Small and Medium Businesses (SMBs)
11.10.2 Enterprises
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Pure-play
12.6.2 Broad-based
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Small and Medium Businesses (SMBs)
12.10.2 Enterprises
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Pure-play
13.6.2 Broad-based
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Small and Medium Businesses (SMBs)
13.10.2 Enterprises
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Product Engineering Services Market: Competitive Dashboard
14.2 Global Product Engineering Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Altran
14.3.2 Alten Group
14.3.3 AVL
14.3.4 HCL Technologies
14.3.5 Akka Technologies
14.3.6 Cygnet Infotech
14.3.7 Accenture
14.3.8 Wipro
14.3.9 AF
14.3.10 Bertrandt Services
14.3.11 IAV
14.3.12 Capgemini
14.3.13 Tata Consultancy Services
14.3.14 Segula
14.3.15 IBM
14.3.16 EDAG Group
14.3.17 Infosys
14.3.18 Cognizant
14.3.19 Harman Connected Services
