Product Engineering Services - Global Strategic Business Report

Global Product Engineering Services Market to Reach $2.2 Trillion by 2030

The global market for Product Engineering Services estimated at US$1.2 Trillion in the year 2022, is projected to reach a revised size of US$2.2 Trillion by 2030, growing at a CAGR of 8.1% over the analysis period 2022-2030. Product & Component Design, one of the segments analyzed in the report, is projected to record 8.6% CAGR and reach US$952.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Process Engineering segment is readjusted to a revised 8.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $317.1 Billion, While China is Forecast to Grow at 13.1% CAGR

The Product Engineering Services market in the U.S. is estimated at US$317.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$524.9 Billion by the year 2030 trailing a CAGR of 13.1% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 6.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.

Select Competitors (Total 34 Featured) -

• Accenture
• Alten Group
• Altran
• AVL List GmbH
• Bitcomm Technologies
• Capgemini
• Cognizant
• Cygnet Infotech
• eInfochips
• EPAM Systems, Inc.
• Genpact
• Happiest Minds
• Harman International
• HCL Technologies Limited
• IBM Corporation
• Infosys Limited
• ITC Infotech India Ltd.
• Lightbend, Inc.
• Luxoft
• Nexient
• Pactera Edge
• Tata Consultancy Services Limited
• Tech Mahindra Limited
• Trigent Software, Inc.
• Volansys Technologies
• Wipro Limited

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• Global competitiveness and key competitor percentage market shares
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