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The global engineering services outsourcing (ESO) market stood at USD 698.50 billion in 2023. The market is expected to grow at a CAGR of 30.1% in the forecast period of 2024-2032.
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The industry growth is expected to be driven by the rising level of technical complexity for product development and manufacturing across sectors, cost reduction, shorter product lifecycles, and the growing number of linkages between OEMs and Engineering Service Providers (ESPs).
The engineering services outsourcing (ESO) industry can be divided based on segments like application and location type.
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The industry can be broadly categorised based on its application into:
The industry can be divided based on its location type as:
The EMR report looks into the regional engineering services outsourcing (ESO) markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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The growth of the ESO industry and the growing adoption of outsourcing of engineering services is primarily due to a shorter life cycle of products. Business solutions that are usually offered last for a shorter period, resulting in re-purchase or resubscription. For example, a consumer would need to upgrade the IT infrastructure system after the duration of the contract or an automobile OEM may need a new set of engines for its future vehicle, requiring continuous technical improvements. The repetitive nature of the services, therefore, ensures that the ESO company flourishes, along with increasing the demand for subsequent goods, thus, propelling the industry growth. The industry experience, past ventures, market value, and the quality of service it provides are some of the key factors to be considered when choosing an ESO provider. However, because of the lack of project experience, familiarity with client requirements, and business networks, new entrants can find it challenging to enter the industry and develop their presence.
The report presents a detailed analysis of the following key players in the global engineering services outsourcing (ESO) market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Location Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2020, the global engineering services outsourcing (ESO) market attained a value of nearly USD 698.50 billion.
The market is projected to grow at a CAGR of 30.1% between 2024 and 2032.
The major drivers of the industry, such as the rising level of technical complexity for product development and manufacturing across sectors, cost reduction, shorter product lifecycles, and the growing number of linkages between OEMs and Engineering Service Providers (ESPs), are expected to aid the market growth.
The key market trend guiding the industry growth includes the adoption of the service in several sectors, such as oil and gas, product design, process engineering, plant, utilities, R&D, prototyping, infrastructure development, health care equipment, industrial design, innovation, transportation, and others.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Aerospace, automotive, construction, consumer electronics, semiconductors, pharmaceuticals, and telecom, among others, are the leading applications of engineering services outsourcing (ESO) in the industry.
On-shore and off-shore are the major location types of the product.
The major players in the industry are Alten S.A, Altair Engineering Inc., Capgemini SE, ASAP Holding GmbH, AVL List GmbH, and International Business Machines Corporation, among others.
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