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Technavio has announced its latest market research report titled Engineering Services Outsourcing Market by Sourcing, End-user, and Geography - Forecast and Analysis 2021-2025
The engineering services outsourcing market is estimated to grow by USD 187.99 billion during 2021-2025, growing at a CAGR of almost 23%.
Market Dynamics
Factors such as cost savings from lower labor wages, reduced time to market, and improved access to emerging markets will be crucial in driving the growth of the market. But the risk of intellectual property theft and misuse will restrict the market growth.
Growing focus on core competencies and the lack of in-house expertise will have a positive impact on the market. On the other hand, growing concerns over loss of business control and management of dispersed teams are huge challenges in the industry.
Global Engineering Services Outsourcing Market (2021 to 2025) - Featuring Accenture, Infosys and Wip
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Global Engineering Services Outsourcing Market 2021-2025-Industry Analysis, Market Trends, Market Growth, Opportunities and Forecast 2025
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Research methodology
List of abbreviations
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio s in-depth research has direct and indirect COVID-19 impacted market research reports.
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