LONDON, Oct. 04, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the Product Engineering Services Market, the growing use of internet penetration is expected to propel the growth of the product engineering services in the future. Internet penetration refers to the number of people using Internet services worldwide. Product engineering services such as software engineering services use Internet computing for the development, management, deployment, and quality assurance of software that supports Internet-based systems. As a result, increasing internet penetration increases the demand for product engineering services as companies develop new products to meet growing consumer demand. For example, in June 2021, according to The Economic Times, an India-based newspaper, the number of internet users in India is expected to reach 900 million by 2025, with a 45% increase over the next five years. Hence, the growing use of internet penetration is expected to drive the demand for product engineering services over the forecast period.
Request a sample of the global product engineering services market report
The size of the global product engineering services market is expected to grow from $0.83 trmillion in 2021 at $0.91 trmillion in 2022 at a compound annual growth rate (CAGR) of 8.7%. The growth of the global product engineering services market is expected to reach $1.27 trmillion in 2026 at CAGR of 8.8%.
Technological advancements are gaining popularity among product engineering services market trends. Large companies operating in product engineering services are developing innovative solutions to strengthen their position in the market. For example, AKKA Technologies, a Belgian company active in product engineering services, is expanding its presence in Leipzig with the creation of a new “Digital Center of Excellence” (DCE). This accelerates digital innovation projects by offering highly innovative solutions in the areas of software development and testing, cloud architecture, embedded software development, machine learning, AI and technology. data analysis, and also stimulates the digital transformation of its customers.
The major players in the product engineering services market are ALTEN Group, AVL, HCL Technologies, AKKA Technologies, IBM Corporation, Capgemini Engineering, Wipro Limited, Harman International, Tata Consultancy Services (TCS) Limited, Accenture plc, Pactera EDGE, Tech Mahindra Limited, Genpact, Infosys Limited, Cognizant, Bitcomm Technologies Pvt. Ltd., We Infosystems and ITC InfoTech.
The global product engineering services market analysis is segmented by type of service into product and component design, process engineering, maintenance, repair and operations, others; by size of organization in SMEs, large companies; by verticals in Automotive & Transportation, Aerospace & Defense, Healthcare, IT & Telecom, Industrial Manufacturing, Energy & Utilities, Media & Entertainment, BFSI, etc. .
North America was the greater region in the product engineering services market in 2021. Asia Pacific should be the fastest growing region in the product engineering services market over the forecast period. Regions covered in the global Product Engineering Services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Global Product Engineering Services Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provide insights into the Product Engineering Services market. Product Engineering, analyze and forecast market size and growth for the overall market, Product Engineering Services market segments and geographies, Product Engineering Services market trends, Services market drivers Product Engineering Services, Product Engineering Services Market Constraints, Revenue, Profiles and Market Shares of Top Product Engineering Services Market Competitors in 1000+ Industry Reports, Covering 2500+ market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
Not the market you are looking for? See similar market intelligence reports:
Global Software Products Market Report 2022 – By Type (Operating System & Productivity Software Publishing, Database, Storage & Backup Software Publishing, Business & Enterprise Analytics Software, Software software, design, editing and rendering software), by application (large enterprise, small and medium-sized business), by end-user industry (BFSI, media and entertainment, IT and telecommunications, energy and utilities , Government & Public Sector, Retail & Consumer Goods, Manufacturing) – Global Market Size, Trends & Forecast 2022-2026
Global Engineering Services Market Report 2022 – By Type (Civil Engineering Services, Environmental Engineering Services, Construction Engineering Services, Mechanical Engineering Services, Other Engineering Services), By End User (automotive, industrial manufacturing, healthcare, aerospace, telecommunications, information technology, energy and utilities), by engineering disciplines (civil, mechanical, electrical, piping and structural), by delivery model ( Offshore, Onsite) – Global Market Size, Trends & Forecast 2022-2026
Global Automotive Engineering Services Market Report 2022 – By Vehicle Type (Passenger Cars, Commercial Vehicles), By Service Type (Concept/Research, Design, Prototyping, System Integration, Testing), By Location Type ( On Land, Off Land), By Application (Electrical, Electronics & Body Controls, ADAS & Safety, Chassis, Connectivity Services, Powertrain & Exhaust, Interior, Exterior & Body Engineering, Simulation) – Market Size, Trends and global predictions 2022-2026
Want to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in business, market and consumer research. Located around the world, it has consultants specializing in a wide range of industries, including manufacturing, healthcare, financial services, chemicals and technology.
The most comprehensive database in the world
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and measures in 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess gaps between supply and demand.
#Rising #Internet #Penetration #Expected #Propel #Product #Engineering #Services #Market #Growth #Business #Research #Company #Global #Product #Engineering #Services #Market #Report