Engineering Services Outsourcing Market will Showcase Neutral Impact During 2020-2024 | Improved Access to Emerging Markets to Boost Market Growth | Technavio
Technavio has been monitoring the global engineering services outsourcing market size and it is poised to grow by USD 207.85 billion during 2020-2024, progressing at a CAGR of almost 23% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Engineering Services Outsourcing Market 2020-2024 (Graphic: Business Wire)
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture, Altair Engineering, Inc., Alten GmbH, Aricent (News - Alert) Group, HCL Technologies, Infosys, RLE International Group, TCS, Tech Mahindra Ltd., and Wipro are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Improved access to emerging markets has been instrumental in driving the growth of the market.
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Engneering Services Outsourcing Market 2020-2024: Segmentation
Engineering Services Outsourcing Market is segmented as below:
Engineering Services Outsourcing Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The engineering services outsourcing market report covers the following areas:
This study identifies the increase in collaborative co-innovation partnerships with outsourcing firms as one of the prime reasons driving the Engineering Services Outsourcing Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Engineering Services Outsourcing Market 2020-2024: Key Highlights
Table of Contents:
Five Forces Analysis
Market Segmentation by End-user
Market opportunity by Sourcing
Drivers, Challenges, and Trends
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