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Product Engineering Services Market Size, Share & Trends Analysis Report by Service (Product Engineering, Maintenance, Repair & Operations), Enterprise Size (Large Enterprises), Industry (Automotive, BFSI), Region, with Growth Forecasts, 2025-2030

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  • 150 Pages
  • April 2025
  • Region: Global
  • Grand View Research
  • ID: 6085883
Description Jump to:
The Product Engineering Services Market was valued at USD 1.26 Trillion in 2024, and is projected to reach USD 1.81 Trillion by 2030, rising at a CAGR of 6.40%. The market growth is primarily driven by the increasing demand for innovation and technological advancements across industries. Companies are seeking to accelerate product development cycles, reduce time-to-market, and enhance product quality, prompting the need for specialized engineering services, thereby driving the market demand. Additionally, the rise of digital transformation and Industry 4.0 is pushing businesses to adopt advanced technologies such as AI, IoT, and automation in product design and manufacturing, which is expected to drive the product engineering services industry expansion.

The increasing use of AI and automation is reshaping the way products are designed and manufactured as businesses look to integrate smarter, more efficient technologies into their products and manufacturing processes. Product engineering services are leveraging AI for smarter product design, predictive maintenance, and enhanced testing. Automation is improving manufacturing processes, reducing costs, and increasing efficiency in the production lifecycle. The growing adoption of these technologies is reshaping the product engineering services industry landscape.

Additionally, the ongoing digital transformation is playing a key role in boosting industry growth, as businesses across industries are increasingly integrating advanced technologies such as IoT, AI, and cloud computing into their products. This enables companies to develop smarter, more efficient products that meet evolving market demands and meet customer expectations. This growing need for digital innovation continues to fuel the growth of the product engineering services industry.

Furthermore, cloud-based engineering platforms are gaining traction as they provide scalable, collaborative, and efficient tools for product development. Cloud platforms enable teams to share data seamlessly and work together across geographies, reducing time and cost in product design, testing, and development. The widespread adoption of cloud technologies is transforming how product engineering services are delivered, thereby boosting the product engineering services industry growth.

Moreover, the need for customization and personalization is significantly growing as consumers increasingly expect products tailored to their unique preferences. Product engineering services are evolving to create highly customized solutions, leveraging data and insights to deliver personalized user experiences. This trend reflects the shift toward more individual-centric products and is accelerating market growth.

Global Product Engineering Services Market Report: Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest technological trends in each of the sub-segments from 2018 to 2030. For this study, the analyst has segmented the global product engineering services market report based on service, enterprise size, industry and region:

Service Outlook (Revenue, USD Billion, 2018-2030)

  • Product Engineering
  • Process Engineering
  • Maintenance, Repair & Operations
  • Others

Enterprise Size Outlook (Revenue, USD Billion, 2018-2030)

  • Large Enterprises
  • Small & Medium Enterprises

Industry Outlook (Revenue, USD Billion, 2018-2030)

  • Automotive
  • Healthcare & Life Science
  • Manufacturing
  • BFSI
  • Retail & Consumer goods
  • Aerospace & Defense
  • IT & Telecom
  • Others

Regional Outlook (Revenue, USD Billion, 2018-2030)

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

Why Should You Buy This Report?

  • Comprehensive Market Analysis: Gain detailed insights into the market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listings for you to stay ahead of the curve

This product will be delivered within 1-3 business days.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definitions
1.2.1. Information analysis
1.2.2. Market formulation & data visualization
1.2.3. Data validation & publishing
1.3. Research Scope and Assumptions
1.3.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Product Engineering Services Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Deployment Challenge
3.3. Product Engineering Services Market Analysis Tools
3.3.1. Deployment Analysis - Porter’s
3.3.1.1. Bargaining power of The suppliers
3.3.1.2. Bargaining power of The buyers
3.3.1.3. Threats of substitution
3.3.1.4. Threats from new entrants
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Economic and social landscape
3.3.2.3. Technological landscape
Chapter 4. Product Engineering Services Market: Service Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Product Engineering Services Market: Service Movement Analysis, 2024 & 2030 (USD Billion)
4.3. Product Engineering
4.3.1. Product Engineering Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
4.4. Process Engineering
4.4.1. Process Engineering Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
4.5. Maintenance, Repair & Operations
4.5.1. Maintenance, Repair & Operations Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
4.6. Others
4.6.1. Others Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
Chapter 5. Product Engineering Services Market: Enterprise Size Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Product Engineering Services Market: Enterprise Size Movement Analysis, 2024 & 2030 (USD Billion)
5.3. Large Enterprises
5.3.1. Large Enterprises Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
5.4. Small & Medium Enterprises
5.4.1. Small & Medium Enterprises Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
Chapter 6. Product Engineering Services Market: Industry Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Product Engineering Services Market: Industry Movement Analysis, 2024 & 2030 (USD Billion)
6.3. Automotive
6.3.1. Automotive Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
6.4. Healthcare & Life Science
6.4.1. Healthcare & Life Science Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
6.5. Manufacturing
6.5.1. Manufacturing Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
6.6. BFSI
6.6.1. BFSI Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
6.7. Retail & Consumer goods
6.7.1. Retail & Consumer Goods Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
6.8. Aerospace & Defense
6.8.1. Aerospace & Defense Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
6.9. IT & Telecom
6.9.1. IT & Telecom Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
6.10. Others
6.10.1. Others Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)
Chapter 7. Regional Estimates & Trend Analysis
7.1. Product Engineering Services Market by Region, 2024 & 2030
7.2. North America
7.2.1. North America Product Engineering Services Market Estimates & Forecasts, 2018-2030 (USD Billion)
7.2.2. U.S.
7.2.2.1. Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.2.3. Canada
7.2.3.1. Canada Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.2.4. Mexico
7.2.4.1. Mexico Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.3. Europe
7.3.1. Europe Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.3.2. UK
7.3.2.1. UK Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.3.3. Germany
7.3.3.1. Germany Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.3.4. France
7.3.4.1. France Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.4. Asia Pacific
7.4.1. Asia Pacific Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.4.2. China
7.4.2.1. China Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.4.3. Japan
7.4.3.1. Japan Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.4.4. India
7.4.4.1. India Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.4.5. South Korea
7.4.5.1. South Korea Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.4.6. Australia
7.4.6.1. Australia Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.5. Latin America
7.5.1. Latin America Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.5.2. Brazil
7.5.2.1. Brazil Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.6. Middle East and Africa
7.6.1. Middle East and Africa Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.6.2. Saudi Arabia
7.6.2.1. Saudi Arabia Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.6.3. South Africa
7.6.3.1. South Africa Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
7.6.4. UAE
7.6.4.1. UAE Product Engineering Services Market Estimates and Forecasts, 2018-2030 (USD billion)
Chapter 8. Competitive Landscape
8.1. Company Categorization
8.2. Company Market Positioning
8.3. Company Heat Map Analysis
8.4. Company Profiles/Listing
8.4.1. Wipro Limited
8.4.1.1. Participant’s Overview
8.4.1.2. Financial Performance
8.4.1.3. Service Benchmarking
8.4.1.4. Strategic Initiatives
8.4.2. Innovify Ventures Limited
8.4.2.1. Participant’s Overview
8.4.2.2. Financial Performance
8.4.2.3. Service Benchmarking
8.4.2.4. Strategic Initiatives
8.4.3. Cognizant Technology Solutions Corporation
8.4.3.1. Participant’s Overview
8.4.3.2. Financial Performance
8.4.3.3. Service Benchmarking
8.4.3.4. Strategic Initiatives
8.4.4. Infosys Limited
8.4.4.1. Participant’s Overview
8.4.4.2. Financial Performance
8.4.4.3. Service Benchmarking
8.4.4.4. Strategic Initiatives
8.4.5. Tata Consultancy Services Limited
8.4.5.1. Participant’s Overview
8.4.5.2. Financial Performance
8.4.5.3. Service Benchmarking
8.4.5.4. Strategic Initiatives
8.4.6. Accenture plc
8.4.6.1. Participant’s Overview
8.4.6.2. Financial Performance
8.4.6.3. Service Benchmarking
8.4.6.4. Strategic Initiatives
8.4.7. Capgemini SE
8.4.7.1. Participant’s Overview
8.4.7.2. Financial Performance
8.4.7.3. Service Benchmarking
8.4.7.4. Strategic Initiatives
8.4.8. Tech Mahindra Limited
8.4.8.1. Participant’s Overview
8.4.8.2. Financial Performance
8.4.8.3. Service Benchmarking
8.4.8.4. Strategic Initiatives
8.4.9. Persistent Systems Limited
8.4.9.1. Participant’s Overview
8.4.9.2. Financial Performance
8.4.9.3. Service Benchmarking
8.4.9.4. Strategic Initiatives
8.4.10. HCL Technologies Limited
8.4.10.1. Participant’s Overview
8.4.10.2. Financial Performance
8.4.10.3. Service Benchmarking
8.4.10.4. Strategic Initiatives
List of Tables
Table 1 Product Engineering Services Market Size Estimates & Forecasts 2018-2030 (USD Billion)
Table 2 Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 3 Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 4 Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 5 Product Engineering Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 6 Process Engineering Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 7 Maintenance, Repair & Operations Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 8 Others Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 9 Large Enterprises Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 10 Small & Medium Enterprises Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 11 Automotive Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 12 Healthcare & Life Science Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 13 Manufacturing Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 14 BFSI Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 15 Retail & Consumer Goods Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 16 Aerospace & Defense Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 17 IT & Telecom Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 18 Others Market Estimates & Forecasts, 2018-2030 (USD Billion)
Table 19 North America Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 20 North America Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 21 North America Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 22 U.S. Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 23 U.S. Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 24 U.S. Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 25 Canada Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 26 Canada Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 27 Canada Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 28 Europe Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 29 Europe Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 30 Europe Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 31 UK Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 32 UK Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 33 UK Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 34 Germany Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 35 Germany Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 36 Germany Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 37 France Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 38 France Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 39 France Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 40 Asia Pacific Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 41 Asia Pacific Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 42 Asia Pacific Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 43 China Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 44 China Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 45 China Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 46 Japan Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 47 Japan Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 48 Japan Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 49 India Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 50 India Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 51 India Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 52 India Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 53 South Korea Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 54 South Korea Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 55 Australia Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 56 Australia Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 57 Australia Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 58 Latin America Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 59 Latin America Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 60 Latin America Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 61 Brazil Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 62 Brazil Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 63 Brazil Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 64 Mexico Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 65 Mexico Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 66 Mexico Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 67 Saudi Arabia Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 68 Saudi Arabia Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 69 Saudi Arabia Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 70 UAE Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 71 UAE Product Engineering Services Market, By Enterprise Size 2018-2030 (USD Billion)
Table 72 UAE Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
Table 73 South Africa Product Engineering Services Market, By Service 2018-2030 (USD Billion)
Table 74 South Africa Product Engineering Services Market, By Enterprise Size, 2018-2030 (USD Billion)
Table 75 South Africa Product Engineering Services Market, By Industry 2018-2030 (USD Billion)
List of Figures
Figure 1 Product engineering services market segmentation
Figure 2 Information procurement
Figure 3 Data analysis models
Figure 4 Market formulation and validation
Figure 5 Data validating & publishing
Figure 6 Product engineering services market snapshot
Figure 7 Product engineering services market segment snapshot
Figure 8 Product engineering services market competitive landscape snapshot
Figure 9 Market research process
Figure 10 Market driver relevance analysis (current & future impact)
Figure 11 Market restraint relevance analysis (current & future impact)
Figure 12 Product engineering services market, by service, key takeaways
Figure 13 Product engineering market estimates & forecasts, 2018-2030 (USD billion)
Figure 14 Process engineering market estimates & forecasts, 2018-2030 (USD billion)
Figure 15 Maintenance, repair & operations market estimates & forecasts, 2018-2030 (USD billion)
Figure 16 Others market estimates & forecasts, 2018-2030 (USD billion)
Figure 17 Product engineering services market, by enterprise size, key takeaways
Figure 18 Product engineering services market, by enterprise size, market share, 2024 & 2030
Figure 19 Large enterprises market estimates & forecasts, 2018-2030 (USD billion)
Figure 20 Small & medium enterprises market estimates & forecasts, 2018-2030 (USD billion)
Figure 21 Product engineering services market, by industry, key takeaways
Figure 22 Product engineering services market, by industry, market share, 2024 & 2030
Figure 23 Automotive market estimates & forecasts, 2018-2030 (USD billion)
Figure 24 Healthcare & life science market estimates & forecasts, 2018-2030 (USD billion)
Figure 25 Manufacturing market estimates & forecasts, 2018-2030 (USD billion)
Figure 26 BFSI market estimates & forecasts, 2018-2030 (USD billion)
Figure 27 Retail & consumer goods market estimates & forecasts, 2018-2030 (USD billion)
Figure 28 Aerospace & defense market estimates & forecasts, 2018-2030 (USD billion)
Figure 29 IT & telecom market estimates & forecasts, 2018-2030 (USD billion)
Figure 30 Others market estimates & forecasts, 2018-2030 (USD billion)
Figure 31 Regional marketplace: key takeaways
Figure 32 North America product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 33 U.S. product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 34 Canada product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 35 Mexico product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 36 Europe product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 37 UK product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 38 Germany product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 39 France product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 40 Asia Pacific product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 41 Japan product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 42 China product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 43 South Korea product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 44 India product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 45 Australia product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 46 Latin America product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 47 Brazil product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 48 MEA product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 49 Saudi Arabia product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 50 South Africa product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 51 UAE product engineering services market estimates & forecast, 2018-2030 (USD Billion)
Figure 52 Key company categorization
Figure 53 Strategy framework

Companies Mentioned

The companies profiled in this Product Engineering Services market report include:
  • Wipro Limited
  • Innovify Ventures Limited
  • Cognizant Technology Solutions Corporation
  • Infosys Limited
  • Tata Consultancy Services Limited
  • Accenture plc
  • Capgemini SE
  • Tech Mahindra Limited
  • Persistent Systems Limited
  • HCL Technologies Limited

Methodology

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Table Information

Report AttributeDetails
No. of Pages150
PublishedApril 2025
Forecast Period2024 - 2030
Estimated Market Value ( USD ) in 2024 $ 1.26 Trillion
Forecasted Market Value ( USD ) by 2030 $ 1.81 Trillion
Compound Annual Growth Rate6.4%
Regions CoveredGlobal
No. of Companies Mentioned11

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