Global Engineering Services Outsourcing (ESO) Market By End-Use (Aerospace, Automotive) By 2020
New Market Research Reports Title ” Global Engineering Services Outsourcing Market Analysis Size And Segment Forecasts To 2020” Has Beed Added to GrandViewReseach.com Report Database
Enhancement in production process, cost advantage and lowered time-to-market are some of the other factors expected to boost market growth. Threat of intellectual property (IP) theft may pose a challenge to industry growth as it results in significant losses for businesses. Legal enforcements in a few offshore locations make it difficult for prosecuting firms which misuse confidential data and patents.
The report “Engineering Services Outsourcing Market Analysis By End-Use (Aerospace, Automotive, Construction, Consumer Electronics, Semiconductors, Pharmaceuticals, Telecom) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/
Further key findings from the study suggest:
• ESO demand in telecom accounted for over 20% of the overall market in 2013. Telecommunications service providers have been implementing operations and business support systems for ensuring smooth business operations. This requires significant back-end expertise and equipment, thus propelling the use of ESO in systems. The consumer electronics segment is expected to witness the fastest growth over the forecast period. This can be primarily attributed to drastic reduction in product life cycles, forcing companies to bring about product innovations at a faster rate.
• Asia Pacific was the largest regional market in 2013, accounting for over 50% of the total demand; it is further expected to remain the market leader over the forecast period. This is mainly on account of the presence of a large talent pool, strong manufacturing base, emerging local demand and cost arbitrage in countries such as China and India. The market in Europe is expected to grow at a CAGR of over 25% from 2014 to 2020, owing to an inclination among several European firms to outsource engineering activities within the same country or within Western European nations for ensuring regulatory compliance.
• Key industry participants include HCL Technologies Ltd, Wipro, Tata Consultancy Services and Infosys Ltd. Other companies operating in the market include VanceInfo Technologies Inc., Tata ELXSI, QuEST Global, MindTree Ltd., KPIT Cummins Infosystems Ltd., Infotech Enterprises Ltd., IGATE Corp., GlobalLogic, EPAM Services, Cybage Software Pvt. Ltd., Calsoft Labs, Aricent Group, etc.
For the purpose of this study, Grand View Research has segmented the global engineering services outsourcing market on the basis of end-use and region:
• ESO End-Use Outlook (Revenue, USD Billion, 2012 – 2020)
• Consumer Electronics
• ESO Regional Outlook (Revenue, USD Billion, 2012 – 2020)
• North America
• Asia Pacific
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