The latest industry analysis on Product Engineering Services Market provides sales outlook in 20+ countries, across key categories Product, Application, Sales Channel. Insights on Product Engineering Services Market drivers, trends, and influencing factors are also included in the study.
According to a new study of Fact.MR, the global demand for product engineering services is envisaged to account for the revenues worth US$ 26 Bn by the end of 2019. While gains will be particularly underpinned by the aggravating demand for shorter product life cycles, it is highly likely that myriad opportunities are underway for vendors of product engineering services, following the dramatic rise of new product launches across various industry verticals. Software and product development and engineering services have garnered the center stage in IT and telecom sector in the recent past, according to the report.
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Competitive Landscape
The market for product engineering services will remain a consolidated landscape, where leading players, such as Accenture, Cognizant, Persistent System, TCS, and Wipro, among others, command 60-65% market share. These companies continue to zoom in their strategic focus on acquisitions of local service providers, for regional expansion.
New launches centered at customer demands will remain among the key strategies of market forerunners as they continue to invest efforts in introducing product designs that appeal to a wider customer base.
Profound domain knowledge and deep expertise in customers’ business verticals will be considered as an important determinant, offering companies an additional edge in the competition landscape of product engineering services market.
The market is lately witnessing increase in the collaborations of stakeholders with enterprises, which are attempting new market entry and thus need assistance from product engineering services providers, right from the initial stage to the post-deployment support phase.
A few companies have been strategizing on foraying in the intelligent and quick product engineering services management, sensing its growing profitability in market.
Report Benefits & Key Questions Answered
- Product Engineering Services Market Company & brand share analysis: Company and brand share analysis on Product Engineering Services Market reveals how much market share is captured by Tier 1, Tier 2, and Tier 3 players
- Product Engineering Services Market Historical volume analysis: The industry analysis provides data & insights on historical volume sales of Product Engineering Services Market
- Product Engineering Services Market Category & segment level analysis: Fact.MR’s Product Engineering Services Market sales outlook offers category and segment level analysis on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
- Product Engineering Services Market Consumption by demographics: The market intelligence study provides consumption by demographics analysis so market players can design their product and marketing strategies on the basis of high-value consumers
- Post COVID consumer spending on Product Engineering Services Market: The report includes post COVID consumer spending analysis. This information will help business leads understand the shifts in purchasing power and behavior
- Manufacturing trend analysis: Vital information on how market players are aligning their manufacturing strategies with respect to evolving consumer sentiments
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What insights does the Product Engineering Services Market report provide to the readers?
- Product Engineering Services Market fragmentation on the basis of product type, end use, and region.
- Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
- Collaborations, R&D projects, acquisitions, and product launches of each Product Engineering Services Market player.
- Various regulations imposed by the governments on the consumption of Product Engineering Services Market in detail.
Market Segmentation
- By Service Type
- New Product Development
- Product Testing
- Product Sustenance
- Product Deployment
- Product Support
- Product Management
- By Organization Size
- SME’s
- Large Enterprises
- By Verticals
- Aerospace & Defense
- Automotive & Transportation
- Consumer Electronics
- Healthcare
- Industrial Manufacturing
- IT & Telecom
- Media & Entertainment
- Others
- By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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