Engineering Services Outsourcing (ESO) Market By End-Use (Aerospace, Automotive, Consumer Electronics, Pharmaceuticals) Is Expected to Reach USD 415.74 Billion by 2020 - San Diego, California News Station - KFMB Channel 8 - cbs8.com

Engineering Services Outsourcing (ESO) Market By End-Use (Aerospace, Automotive, Consumer Electronics, Pharmaceuticals) Is Expected to Reach USD 415.74 Billion by 2020

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Market Size - $67.08 bn in 2013, Market Growth - CAGR of 29.9%, Market Trends Shift from basic services to system-level designing new report by Grand View Research, Inc. View Full Report with TOC - http://www.grandviewresearch.com/industry-analysis/engineering-services-outsourcing-market

San Francisco, California (PRWEB) September 01, 2014

The global engineering services outsourcing (ESO) market is expected to reach USD 415.74 billion by 2020, according to a new study by Grand View Research, Inc. Increased cost pressures on global firms resulting in constrained R&D budgets is a primary driver for market growth over the forecast period. Additionally, shorter product life cycles owing to dynamic consumer buying behavior are also expected to favorably impact market growth.

Enhancement in production process, cost advantage and lowered time-to-market are some of the other factors expected to boost market growth. Threat of intellectual property (IP) theft may pose a challenge to industry growth as it results in significant losses for businesses. Legal enforcements in a few offshore locations make it difficult for prosecuting firms which misuse confidential data and patents.

The report Engineering Services Outsourcing Market Analysis By End-Use (Aerospace, Automotive, Construction, Consumer Electronics, Semiconductors, Pharmaceuticals, Telecom) And Segment Forecasts To 2020, is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/engineering-services-outsourcing-market

Request Free Sample of This report at http://www.grandviewresearch.com/industry-analysis/engineering-services-outsourcing-market/request

Further key findings from the study suggest:

  • ESO demand in telecom accounted for over 20% of the overall market in 2013. Telecommunications service providers have been implementing operations and business support systems for ensuring smooth business operations. This requires significant back-end expertise and equipment, thus propelling the use of ESO in systems. The consumer electronics segment is expected to witness the fastest growth over the forecast period. This can be primarily attributed to drastic reduction in product life cycles, forcing companies to bring about product innovations at a faster rate.
  • Asia Pacific was the largest regional market in 2013, accounting for over 50% of the total demand; it is further expected to remain the market leader over the forecast period. This is mainly on account of the presence of a large talent pool, strong manufacturing base, emerging local demand and cost arbitrage in countries such as China and India. The market in Europe is expected to grow at a CAGR of over 25% from 2014 to 2020, owing to an inclination among several European firms to outsource engineering activities within the same country or within Western European nations for ensuring regulatory compliance.
  • Key industry participants include HCL Technologies Ltd, Wipro, Tata Consultancy Services and Infosys Ltd. Other companies operating in the market include VanceInfo Technologies Inc., Tata ELXSI, QuEST Global, MindTree Ltd., KPIT Cummins Infosystems Ltd., Infotech Enterprises Ltd., IGATE Corp., GlobalLogic, EPAM Services, Cybage Software Pvt. Ltd., Calsoft Labs, Aricent Group, etc.

Browse All Reports of This Category by Grand View Research at http://www.grandviewresearch.com/industry/communication-services

For the purpose of this study, Grand View Research has segmented the global engineering services outsourcing market on the basis of end-use and region:

  •      ESO End-Use Outlook (Revenue, USD Billion, 2012 2020)
             Aerospace
             Automotive
             Construction
             Consumer Electronics
             Semiconductors
             Pharmaceuticals
             Telecom
             Others
  •      ESO Regional Outlook (Revenue, USD Billion, 2012 2020)
             North America
             Europe
             Asia Pacific
             RoW

Browse All Ongoing reports by Grand View Research at http://www.grandviewresearch.com/ongoing-reports

About Grand View Research

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com

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