Global Engineering Services Market Trends And Strategies Of Major Players In The Engineering Services Market 2021-2030
15 Jul, 2021
The engineering services market consists of the sale of engineering services. Engineering services’ companies apply physical laws and principles of engineering in the design, development, and utilization of machines, materials, instruments, structures, processes, and systems. Engineering services include the technical application of engineering in product designing, innovations, and others in industries such as building construction, mining, power and energy, transportation, manufacturing, and others.
Global Engineering Services Market Size And Drivers:
The global engineering services market is expected to grow from $830.48 billion in 2020 to $938 billion in 2021 at a compound annual growth rate (CAGR) of 12.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1167.21 billion in 2025 at a CAGR of 5.6%. The engineering services market is expected to benefit from steady economic growth in developed and developing countries.
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Trends In The Global Engineering Services Market
In 2020, Wipro, an Indian software services exporter has acquired Eximius Design for $80 million. The acquisition is expected to strengthen Wipro’s market presence in the semiconductor ecosystem. Eximius Design is a California-based engineering services company focused on ASIC design, systems, and software engineering. Eximius design is founded in the year 2013 and has design centers in the US, India, Malaysia.
Global Engineering Services Market Segments:
The global engineering services market is further segmented based on type, end user, engineering discipline, delivery model and geography.
By Type: Civil Engineering Services, Environmental Engineering Services, Construction Engineering Services, Mechanical Engineering Services, Others Engineering Services
By End User: Automotive, Industrial Manufacturing, Healthcare Sector, Aerospace, Telecommunications, Information Technology, Energy & Utilities, Others
By Engineering Disciplines: Civil, Mechanical, Electrical, Piping and Structural Engineering
By Delivery Model: Offshore, Onsite
By Geography: The global engineering services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Engineering Services Market At:https://www.thebusinessresearchcompany.com/report/engineering-services-global-market-report
Engineering Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides engineering services market overviews, analyzes and forecasts market size and growth for the global engineering services market, engineering services market share, engineering services market players, engineering services market segments and geographies, engineering services market’s leading competitors’ revenues, profiles and market shares. The engineering services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.