Engineering Services Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s Engineering Services Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, December 12, 2023 /EINPresswire.com/ -- The global engineering services market is poised for growth, with the market size expected to increase from $1,110.21 billion in 2022 to $1,156.5 billion in 2023, reflecting a Compound Annual Growth Rate (CAGR) of 4.2%. Looking ahead, the market is forecasted to reach $1,316.06 billion by 2027, maintaining a CAGR of 3.3%.

The global engineering services market exhibits a robust segmentation to cater to diverse industry needs:
1.By Type:
•Civil Engineering Services
•Environmental Engineering Services
•Construction Engineering Services
•Mechanical Engineering Services
•Other Engineering Services
2. By End User:
•Automotive
•Industrial Manufacturing
•Healthcare Sector
•Aerospace
•Telecommunications
•Information Technology
•Energy & Utilities
•Other End Users
3. By Engineering Disciplines:
•Civil
•Mechanical
•Electrical
•Piping and Structural Engineering
4. By Delivery Model:
•Offshore
•Onsite

Key Drivers: Steady Economic Growth and IoT Adoption
An emerging trend in the market is the increasing popularity and adoption of the Internet of Things (IoT) globally. IoT enables continuous innovation in real-time data analytics, design, and product development, fostering business growth. Engineering service providers are leveraging industrial IoT to optimize production processes, enhance energy efficiency, and improve resource allocation.

Major Players and Trends
Major players in the engineering services market include Tata Consulting Services (TCS), Infosys, WorleyParsons, Deaton Engineering, Inc., Aricent Group, Cybage Software Pvt. Ltd., EPAM Systems, Inc., and GlobalLogic. A notable trend is the lack of quality control and safety concerns, hindering market growth. Defects or failures in construction activities result in high costs, emphasizing the need for effective internal controls and safety measures.

Explore the global landscape of engineering services with a detailed sample report:
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Regional Dynamics: North America Leading the Market
In 2022, North America emerged as the largest region in the engineering services market, with Western Europe following as the second-largest region. The regions covered in the global engineering services market analysis report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

For comprehensive insights, access the complete report:
https://www.thebusinessresearchcompany.com/report/engineering-services-global-market-report

Engineering Services Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Engineering Services Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on engineering services market size, engineering services market drivers and engineering services market trends, engineering services market major players, engineering services market competitors' revenues, market positioning, and market growth across geographies. The engineering services market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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