Product Engineering Services Market Expected to Reach US$1592.60 Billion by 2029 at a CAGR of 7.4%

The global product engineering services market is predicted to reach US$1592.60 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030, according to a new report by Maximize Market Research (MMR).

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Market Overview

The product engineering services market encompasses a wide range of services that support the entire product development lifecycle, from design and development to testing and deployment. The increasing demand for innovative products, the need to reduce production costs, and the growing adoption of automation and digital technologies are driving the growth of this market.

Market Scope

The MMR report provides a comprehensive analysis of the product engineering services market, covering market size, trends, opportunities, challenges, and key players. It also includes insights into the various segments of the market, including:

• By Type of Services: Software engineering, Hardware engineering, Process engineering, and Others
• By Industry: BFSI, IT & Telecom, Automotive, Industrial manufacturing, Energy & Utilities, Healthcare, Aerospace & defense, and Others
• By Application: Customer Enterprise Products, Customer Mobile Products

COVID-19 Impact Analysis

The COVID-19 pandemic had a significant impact on the product engineering services market in the short term. However, the long-term outlook for the market remains positive, as the pandemic has accelerated the adoption of digital technologies and remote working models, which are expected to benefit the market in the long run.

Regional Analysis

The MMR report analyzes the product engineering services market across various regions, including North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa. The report identifies the key growth regions and provides insights into the factors driving growth in each region.

Market Players

The product engineering services market is a competitive landscape with a number of leading players. Some of the key players identified in the MMR report include:

• IBM Corporation
• Capgemini
• Altran
• ALTEN Group
• AVL
• HCL
• AKKA Technologies
• Wipro
• TCS
• Accenture
• Tech Mahindra
• Infosys
• Nexient
• EPAM Systems, Inc
• Pactera Edge
• Cognizant
• Bitcomm Technologies
• Segula Technologies
• Assystem

Key Questions Answered

The MMR report answers a number of key questions about the product engineering services market, including:

• What are the key growth drivers of the product engineering services market?
• What are the challenges facing the market?
• Which segment is expected to hold the largest share of the market?
• Which region is expected to witness the fastest growth?
• Who are the key players in the market?

Maximize Market Research

Maximize Market Research is a global market research firm specializing in business intelligence and consulting services.

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