Insights Into The Global Engineering Services Market 2022-2031 Forecast Period
Engineering Services Global Market Report 2022 - Market Size, Trends, And Forecast 2022 - 2026
The Business Research Company’s Engineering Services Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022 - 2026
LONDON, GREATER LONDON, UK, August 19, 2022 /EINPresswire.com/ -- As per The Business Research Company's "Engineering Services Global Market Report 2022”, the engineering services market share is expected to grow from $991.38 billion in 2021 to $1071.59 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The growth in the engineering services market 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 engineering services market is expected to reach $1383.41 billion in 2026 at a CAGR of 6.6%. The engineering services market is expected to benefit from steady economic growth in developed and developing countries.
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Key Trends In The Engineering Services Market
The increasing popularity and adoption of the Internet of Things (IoT) across the globe is the latest trend in the engineering services market. Internet of things (IoT) is a system of inter-related devices enabling transmission of data over a wide range of networks. IoT enables continuous innovations in real-time data analytics, design, and development products and helps businesses grow at a faster pace. Engineering service providers are increasingly using industrial IoT to improve and optimize their production process with better energy usage, resource allocation, and asset management. For Instance, PureSoftware, an engineering service company, has successfully integrated IoT to engineering services and built a steady IoT platform to improve accuracy and speed to retrieve data. India's IoT industry reached USD 15 billion by 2020, accounting for approximately 5% of the global market.
Overview Of The Engineering Services Market
The engineering services global 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.
Learn more on the global engineering services market outlook at:
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Engineering Services Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Market Segmentation
• 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. Among these regions, North America holds the largest share in the market.
Major market players such as Tata Consulting Services (TCS), Infosys, WorleyParsons, Deaton Engineering, Inc., Aricent Group, Cybage Software Pvt. Ltd., EPAM Systems; Inc. and GlobalLogic.
Trends, opportunities, strategies and so much more.
Engineering Services Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of engineering services market. The market report analyzes engineering services market size, engineering services global market growth drivers, engineering services global market segments, engineering services global market major players, engineering services market growth across geographies, and engineering services market competitors’ revenues and market positioning. The engineering services global market analysis enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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