Product Engineering Services Market by Service Type (Product Design & Prototyping, Product Development, Process Engineering, Product Sustenance & Support Services, Product Modernization & Integration, Reverse Engineering ) - Global Forecast to 2030

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USD 1800.5 BN
MARKET SIZE, 2030
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CAGR 6.8%
(2025-2030)
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322
REPORT PAGES
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220
MARKET TABLES

OVERVIEW

Product Engineering Services Market Overview

Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis

The global Product Engineering Services (PES) market, valued at USD 1,257.71 billion in 2025 and projected to reach USD 1,800.45 billion by 2030 at a CAGR of 6.8%, is being propelled by connected mobility, electrification, and intelligent systems. OEMs and enterprises are increasingly shifting to software-defined products, driving demand for PES capabilities such as embedded systems development, digital twin modeling, AI-powered design, cloud-native platforms, and end-to-end prototyping. Government incentives across automotive, healthcare, and industrial automation further accelerate engineering-led digital transformation, positioning vendors that align with autonomous systems, IoT integration, and edge computing to capture the most value.

KEY TAKEAWAYS

  • The North America product engineering services market accounted for a 41.1% revenue share in 2024.
  • By services type, the product modernization & integration segment is expected to register the highest CAGR of 7.8%.
  • By organization size, large enterprises segment will hold the largest market share.
  • By delivery mode, the hybrid segment is expected to dominate the product engineering services market.
  • By vertical, the industrial manufacturing segment is projected to grow the at the fastest rate of 7.7% during the forecast period.
  • Company IBM, HCL Technologies, and Capgemini were identified as some of the star players in the product engineering services market (global), given their strong market share and product footprint.
  • Companies EPAM Systems, GlobalLogic, and Globant, among others, have distinguished themselves among startups and SMEs by securing strong footholds in specialized niche areas, underscoring their potential as emerging market leaders

The Product Engineering Services (PES) market is shifting toward innovation-driven models as enterprises embrace electrification, autonomous systems, and connected products across automotive, industrial automation, medical devices, and aerospace. To address rising complexity, PES providers are moving beyond traditional services to deliver MBSE, embedded software, RISC-V prototyping, AI-enabled validation, cross-domain toolchains, and IP-led platforms, enabling faster prototyping, OTA upgrades, and seamless hardware–software integration. At the same time, regulatory-compliant frameworks for functional safety, cybersecurity, and interoperability are becoming integral, particularly in high-risk sectors.

TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS

The impact on businesses emerges from customer trends and disruptions, with industrial manufacturing, automotive & transportation, semiconductor & electronics, and healthcare & life sciences representing key clients of product engineering service providers, while their customers are the ultimate beneficiaries. Shifts in digital twins, AI-driven automation, and connected solutions will influence end-user revenues, further driving revenues for PES providers.

Product Engineering Services Market Disruptions

Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis

MARKET DYNAMICS

Drivers
Impact
Level
  • Rapid transformation toward electric vehicles and connected mobility platforms
  • Need for continuous innovation and iteration
RESTRAINTS
Impact
Level
  • DevOps Sprawl and Toolchain complexity threatening efficiency
OPPORTUNITIES
Impact
Level
  • Development of semiconductor and embedded systems
  • Growing number of smart city projects
CHALLENGES
Impact
Level
  • Fragmented technology ecosystems
  • Lack of robust feedback loops and continuous management

Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis

Driver: Rapid transformation toward electric vehicles and connected mobility platforms

The automotive sector is driving demand for product engineering services as OEMs and Tier 1 suppliers advance toward electric vehicles (EVs), ADAS, and connected mobility platforms. To accelerate innovation and control costs, they are increasingly outsourcing engineering for battery systems, software-defined vehicle architectures, sensor fusion, and real-time connectivity. According to the German Association of the Automotive Industry (VDA) report, automakers and Tier 1 suppliers are expected to invest over USD 270 billion globally in R&D and digital development between 2023 and 2027. This creates strong opportunities for service providers to deliver IP-led portfolios and form technology-driven partnerships in EV platforms, ADAS, and autonomous mobility.

Restraint: DevOps Sprawl and Toolchain complexity threatening efficiency

The product engineering services market is restrained by growing DevOps complexity and fragmented toolchains that undermine efficiency and elevate costs. According to GitLab’s 2024 DevSecOps report, more than 50% of DevOps teams manage six or more tools, creating duplicated efforts, inconsistent workflows, and significant time lost on integration and maintenance. This fragmentation results in delayed project timelines, higher engineering costs, and reduced quality, while making team onboarding and scaling more difficult. To overcome these challenges, service providers must focus on harmonizing toolchains, enabling end-to-end automation, and building tool-agnostic environments that improve interoperability, productivity, and delivery velocity.

Opportunity: Development of semiconductor and embedded systems

The growth of semiconductor and embedded systems development presents a significant opportunity for PES providers. According to United Nations data, the global semiconductor market is expected to surpass USD 4.8 trillion by 2033. Enterprises increasingly seek external expertise in embedded design, firmware development, and board-level prototyping to address rising complexity from AI, edge computing, and high-performance workloads. Providers that build specialization in RISC-V chip architecture, AI-integrated hardware testing, and hybrid interconnects can capture demand across industrial IoT, automotive, smart devices, and healthcare. Hardware-software co-design and rapid prototyping further position PES vendors as strategic partners for chipmakers and OEMs.

Challenge: Fragmented technology ecosystems

Fragmented technology ecosystems hinder integration, collaboration, and delivery efficiency in the product engineering services market. Enterprises face siloed systems, legacy infrastructure, and incompatible platforms, causing delays, higher costs, and rework from data inconsistencies. In manufacturing, varied protocols such as PROFINET, Modbus, and EtherCAT complicate interoperability. The absence of standardized frameworks further reduces productivity. To overcome this, PES providers must build modular integration architectures, reusable interface libraries, and middleware, while enabling hybrid cloud collaboration. Vendors that deliver flexible, interoperable frameworks will be best positioned to support scalable and consistent solutions across multi-platform environments.

Product Engineering Services Market: COMMERCIAL USE CASES ACROSS INDUSTRIES

COMPANY USE CASE DESCRIPTION BENEFITS
Infosys: Silicon and Platform Engineering for V2X SoC – Automotive Semiconductor Provider Enabled next-generation V2X communication systems with full ISO 26262 functional safety compliance, supporting software-defined vehicle architectures and real-time connectivity. Leveraged early-stage prototyping and IP-led engineering to reduce development risk and accelerate innovation.
Infosys: SoC Physical Design Implementation in TSMC 5nm – American Fabless Semiconductor Firm Delivered high-frequency SoC performance with integrated analog IP blocks, optimized power delivery through EM/IR analysis, and accelerated design closure using advanced planning and simulation.
Tata Technologies: High-Performance Data Architecture for Global Engineering Operations Migrated over 53 TB of engineering data from legacy systems, enabling real-time access for 2,500+ users. Established a low-latency, disaster-resilient digital backbone to support global collaboration, engineering continuity, and data-driven decision-making.
IBM: Driving Digital Transformation for Snack Empire Enabled real-time supply chain visibility and faster product delivery through data integration and automation. Enhanced customer engagement via unified CRM insights on Salesforce, and accelerated innovation using IBM Garage’s agile co-creation framework.

Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.

MARKET ECOSYSTEM

The global product engineering services (PES) ecosystem spans solution areas such as product design and prototyping, development, testing and QA, modernization and integration, process and reverse engineering, and sustenance and support. Demand comes from diverse sectors including automotive, industrial, medical devices, electronics, and aerospace and defense. To compete effectively, service providers must align engineering talent, IP assets, and tooling infrastructure with vertical-specific regulations and safety standards, enabling compliance, faster time-to-market, and sustained innovation in highly regulated industries.

Product Engineering Services Market Ecosystem

Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.

MARKET SEGMENTS

Product Engineering Services Market Segments

Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis

Product Engineering Services Market, By Service Type

The product development segment is poised to lead the product engineering services market, driven by rising demand for end-to-end lifecycle management powered by digital engineering, AI-native development, and software-defined architectures. Enterprises are shifting from siloed platforms to integrated models using simulation, digital twins, and automated testing, while EVs, IoT devices, and smart industrial systems fuel demand for embedded software, real-time control, and AI-driven validation. Vendors leveraging IP-led accelerators, generative AI, and model-based design are enabling faster time-to-market and reduced risk, with product development evolving into an innovation enabler through continuous engineering, OTA updates, and modular product design.

Product Engineering Services Market, By Delivery Mode

The offshore delivery mode is expected to hold the largest market share, driven by the need for cost optimization, engineering scalability, and 24/7 development cycles. Offshore hubs provide access to specialized STEM talent in AI/ML, embedded systems, and digital twin engineering, while addressing the rising complexity of workloads in automotive, semiconductors, and industrial automation. In February 2025, Accenture expanded its offshore engineering hub in Pune, India, integrating AI-driven simulation and automated testing to streamline global programs. Equipped with advanced test benches and cloud-native environments, offshore centers now deliver more than cost efficiency, they enable engineering agility, global program orchestration, and standardized excellence, solidifying their position as the backbone of the PES market.

Product Engineering Services Market, By Organization Size

Large enterprises will hold the largest market share in the product engineering services market, driven by large-scale digital transformation requiring integrated hardware, software, and cloud-based engineering. Operating in complex domains such as EV platforms, semiconductor design, and smart manufacturing, they demand deep specialization, global delivery, and multi-year strategic partnerships. In June 2025, Volvo Cars engaged Tata Technologies for embedded software and system development to advance its electric and software-defined vehicle programs, underscoring this demand. With strong R&D budgets and a focus on IP co-creation, AI-enabled workflows, and digital twin innovation, large enterprises act as ecosystem orchestrators, setting the benchmark for scalability, domain accelerators, and innovation in the PES landscape.

Product Engineering Services Market, By Vertical

The industrial manufacturing sector is set to capture a major share of the product engineering services market, driven by the adoption of Industry 4.0, smart factories, and predictive maintenance. Manufacturers are embedding robotics, AI-powered diagnostics, and control systems into production, while demanding real-time data integration, digital twin modeling, and cyber-physical systems. In March 2025, ABB partnered with HCLTech to co-develop digital engineering solutions for next-gen plants, reflecting this shift. As manufacturing evolves into a software-defined, data-driven ecosystem, PES providers delivering full-stack engineering, AI-native platforms, and smart automation are positioned to lead innovation, efficiency, and sustainable connected production.

REGION

Asia Pacific to be the fastest-growing region in the global product engineering services market during the forecast period

Asia Pacific, led by India, Vietnam, and Malaysia, is becoming the fastest-growing hub for product engineering services, driven by a deep STEM talent pool in embedded systems, AI/ML, and digital twin expertise, along with cost-efficient, high-quality delivery. Offshore hubs equipped with AI-enabled simulation, automated testing, and cloud-native development environments enable large-scale, complex engineering. Government investments in digital infrastructure, semiconductor ecosystems, and innovation hubs are boosting outsourcing, R&D partnerships, and IP co-creation. Developments such as Google’s Cybersecurity Engineering Center in Tokyo and Honeywell India’s USD 1 Billion engineering milestone highlight the region’s strategic role in semiconductor design, EV platforms, and industrial automation, positioning APAC as central to next-generation product engineering for global OEMs and Tier-1 suppliers.

Product Engineering Services Market Region

Product Engineering Services Market: COMPANY EVALUATION MATRIX

In the Product Engineering Services market matrix, Accenture (Star) leads with a commanding market share and a broad service portfolio, strengthened by its digital engineering depth, cloud-native development, and AI-led innovation. Its strong presence across industries such as automotive & transportation, healthcare & life sciences, and industrials reinforces its position, enabling enterprises to accelerate transformation and product delivery. Persistent Systems (Emerging Leader) is steadily advancing with its focus on software product engineering, embedded systems, and next-generation areas such as IoT and cloud. While Accenture dominates with global scale and comprehensive offerings, Persistent Systems is moving closer to the Star quadrant by driving agility, innovation, and industry-focused engineering services.

Product Engineering Services Market Evaluation Metrics

Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis

MARKET SCOPE

REPORT METRIC DETAILS
Market Size in 2024 (Value) USD 1,213.90 Billion
Market Forecast in 2030 (value) USD 1,800.50 Billion
Growth Rate CAGR of 6.8% from 2025-2030
Years Considered 2020-2030
Base Year 2024
Forecast Period 2025-2030
Units Considered Value (USD Billion)
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends.
Segments Covered
  • By Service Type:
    • Product Design & Protyping
    • Product Development
    • Testing & Quality Assurance (QA)
    • Product Modernization & Integration
    • Process Engineering
    • Reverse Engineering
    • Product Sustenance & Support
  • By Delivery Mode:
    • Onshore
    • Offshore
    • Nearshore
    • Hybrid
  • By Organization Size:
    • Large Enterprises
    • Small & Medium-Sized Enterprises
  • By Vertical:
    • Industrial Manufacturing
    • Automotive & Transportation
    • Healthcare & Life Sciences
    • Aerospace & Defense
    • Semiconductor & Electronics
    • IT & Telecom
    • BFSI
    • Retail & Ecommerce
    • Energy & Utilities
    • Other Verticals
Regions Covered North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

WHAT IS IN IT FOR YOU: Product Engineering Services Market REPORT CONTENT GUIDE

Product Engineering Services Market Content Guide

DELIVERED CUSTOMIZATIONS

We have successfully delivered the following deep-dive customizations:

CLIENT REQUEST CUSTOMIZATION DELIVERED VALUE ADDS
Global Software Product Company (US) Evaluation of PES vendors’ capabilities in cloud-native development, microservices architecture, and DevOps enablement to support product modernization. A Technology Capability Matrix mapping vendor strengths across scalable software delivery, CI/CD pipelines, and cloud-native engineering frameworks. Enabled strategic partner selection for accelerated modernization, reduced technical debt, and improved engineering agility.
Industrial Equipment Provider (MEA) Identification of niche PES vendors with expertise in digital twins, IoT integration, and AI-powered product lifecycle services. A curated Emerging Vendor Profiling framework highlighting firms with domain-specific accelerators, predictive maintenance capabilities, and smart industrial engineering. Provided exposure to cutting-edge engineering capabilities, fostering co-innovation partnerships for next-gen industrial automation.
European Automotive OEM (Europe) Scan of PES providers working on EV platforms, autonomous driving systems, and connected car ecosystems. A Next-Gen Mobility Solutions Scan assessing vendor capabilities in embedded software, vehicle-to-cloud integration, and SDV enablement. Helped identify engineering partners driving mobility innovation, reducing R&D risks, and accelerating time-to-market for software-defined vehicles.

RECENT DEVELOPMENTS

  • May 2025 : AVL partnered with Penske Autosport to deploy its VSM RACE simulation software, enhancing engineering precision in Formula E vehicle development. This collaboration focuses on optimizing energy management strategies, improving lap performance, and enabling system-level integration for electric race cars. By leveraging simulation-driven engineering, AVL strengthens its position in high-performance EV platforms, showcasing its capabilities in motorsport innovation, digital prototyping, and real-time system validation.
  • April 2025 : Cognizant became the strategic engineering partner for OMRON’s Industrial Automation Business, integrating its expertise in cloud, AI, IoT, and digital twins with OMRON’s operational technology (OT) stack, sensors, controllers, robots, and safety systems. This IT-OT convergence delivers smart factory transformation, streamlines manufacturing operations, and supports sustainable automation. The partnership exemplifies how PES providers are enabling intelligent industrial systems, cyber-physical integration, and next-gen productivity platforms.
  • February 2025 : ChargePoint collaborated with HCLTech to accelerate innovation in EV charging software, establishing an advanced R&D center in Bengaluru. This hub serves as a nucleus for developing scalable, customizable, and cloud-native EV charging platforms, leveraging HCLTech’s deep engineering expertise. The initiative positions HCLTech as a key enabler in mobility electrification, supporting the evolution of connected charging ecosystems, personalized user experiences, and software-defined infrastructure for the EV market.
  • December 2024 : LTIMindtree partnered with GitHub to integrate GitHub Copilot into enterprise software engineering workflows, enhancing AI-powered development across the lifecycle. This collaboration improves code quality, boosts developer productivity, and accelerates DevSecOps transformation at scale. By embedding AI into the software delivery pipeline, LTIMindtree is driving automated coding, intelligent refactoring, and enterprise-grade software agility, reinforcing its role in AI-native engineering services.

 

Table of Contents

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TITLE
PAGE NO
1
INTRODUCTION
 
 
 
28
2
RESEARCH METHODOLOGY
 
 
 
33
3
EXECUTIVE SUMMARY
 
 
 
46
4
PREMIUM INSIGHTS
 
 
 
51
5
MARKET OVERVIEW AND INDUSTRY TRENDS
Smart city projects and semiconductor growth drive innovation amid DevOps and ecosystem challenges.
 
 
 
55
 
5.1
INTRODUCTION
 
 
 
 
5.2
MARKET DYNAMICS
 
 
 
 
 
5.2.1
DRIVERS
 
 
 
 
 
5.2.1.1
DEMAND FOR ACCELERATED TTM
 
 
 
 
5.2.1.2
NEED FOR CONTINUOUS INNOVATION AND ITERATION
 
 
 
 
5.2.1.3
AUTOMOTIVE SECTOR GROWTH
 
 
 
 
5.2.1.4
REQUIREMENTS FOR LEGACY APPLICATION MODERNIZATION
 
 
 
5.2.2
RESTRAINTS
 
 
 
 
 
5.2.2.1
TOOLCHAIN BLOAT AND DEVOPS SPRAWL REDUCING TEAM EFFICIENCY
 
 
 
5.2.3
OPPORTUNITIES
 
 
 
 
 
5.2.3.1
GROWING NUMBER OF SMART CITY PROJECTS
 
 
 
 
5.2.3.2
INCREASE IN SEMICONDUCTOR AND EMBEDDED SYSTEMS
 
 
 
5.2.4
CHALLENGES
 
 
 
 
 
5.2.4.1
LACK OF ROBUST FEEDBACK LOOPS AND CONTINUOUS MANAGEMENT
 
 
 
 
5.2.4.2
FRAGMENTED TECHNOLOGY ECOSYSTEMS
 
 
5.3
CASE STUDY ANALYSIS
 
 
 
 
 
5.3.1
E-COMMERCE PLATFORM MODERNIZATION FOR LEADING ATHLEISURE BRAND
 
 
 
 
5.3.2
HOW SNACK EMPIRE STAYS VIBRANT
 
 
 
 
5.3.3
HIGH-PERFORMANCE DATA ARCHITECTURE FOR GLOBAL OPERATIONS
 
 
 
 
5.3.4
SOC PHYSICAL DESIGN IMPLEMENTATION IN TSMC 5NM FOR AMERICAN FABLESS SEMICONDUCTOR FIRM
 
 
 
 
5.3.5
SILICON & PLATFORM ENGINEERING FOR V2X SOC OF KEY AUTOMOTIVE SEMICONDUCTOR SOLUTIONS SUPPLIER
 
 
 
5.4
ECOSYSTEM ANALYSIS
 
 
 
 
 
5.5
SUPPLY CHAIN ANALYSIS
 
 
 
 
 
5.6
PRICING ANALYSIS
 
 
 
 
 
 
5.6.1
AVERAGE SELLING PRICE OF SERVICE PROVIDERS, BY REGION
 
 
 
 
5.6.2
INDICATIVE PRICING ANALYSIS OF KEY PLAYERS, BY SERVICE
 
 
 
5.7
PATENT ANALYSIS
 
 
 
 
 
 
5.7.1
LIST OF MAJOR PATENTS
 
 
 
5.8
TECHNOLOGY ANALYSIS
 
 
 
 
 
5.8.1
KEY TECHNOLOGIES
 
 
 
 
 
5.8.1.1
EMBEDDED SYSTEMS
 
 
 
 
5.8.1.2
IOT ENGINEERING
 
 
 
 
5.8.1.3
CLOUD-NATIVE PRODUCT ENGINEERING
 
 
 
5.8.2
COMPLEMENTARY TECHNOLOGIES
 
 
 
 
 
5.8.2.1
AI/ML INTEGRATION
 
 
 
 
5.8.2.2
5G & EDGE INTEGRATION
 
 
 
5.8.3
ADJACENT TECHNOLOGIES
 
 
 
 
 
5.8.3.1
DIGITAL TWINS
 
 
 
 
5.8.3.2
ROBOTICS ENGINEERING
 
 
5.9
REGULATORY LANDSCAPE
 
 
 
 
 
5.9.1
REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
 
 
 
 
5.9.2
REGULATIONS, BY REGION
 
 
 
 
 
5.9.2.1
NORTH AMERICA
 
 
 
 
5.9.2.2
EUROPE
 
 
 
 
5.9.2.3
ASIA PACIFIC
 
 
 
 
5.9.2.4
MIDDLE EAST & AFRICA
 
 
 
 
5.9.2.5
LATIN AMERICA
 
 
 
5.9.3
REGULATORY IMPLICATIONS AND INDUSTRY STANDARDS
 
 
 
 
 
5.9.3.1
GENERAL DATA PROTECTION REGULATION
 
 
 
 
5.9.3.2
SEC RULE 17A-4
 
 
 
 
5.9.3.3
ISO/IEC 27001
 
 
 
 
5.9.3.4
SYSTEM AND ORGANIZATION CONTROLS 2 TYPE II
 
 
 
 
5.9.3.5
FINANCIAL INDUSTRY REGULATORY AUTHORITY
 
 
 
 
5.9.3.6
FREEDOM OF INFORMATION ACT
 
 
 
 
5.9.3.7
HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT
 
 
5.10
PORTER’S FIVE FORCES ANALYSIS
 
 
 
 
 
5.10.1
THREAT OF NEW ENTRANTS
 
 
 
 
5.10.2
THREAT OF SUBSTITUTES
 
 
 
 
5.10.3
BARGAINING POWER OF SUPPLIERS
 
 
 
 
5.10.4
BARGAINING POWER OF BUYERS
 
 
 
 
5.10.5
INTENSITY OF COMPETITIVE RIVALRY
 
 
 
5.11
KEY STAKEHOLDERS AND BUYING CRITERIA
 
 
 
 
 
 
5.11.1
KEY STAKEHOLDERS IN BUYING PROCESS
 
 
 
 
5.11.2
BUYING CRITERIA
 
 
 
5.12
KEY CONFERENCES AND EVENTS, 2025–2026
 
 
 
 
5.13
TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
 
 
 
 
5.14
BUSINESS MODEL ANALYSIS
 
 
 
 
 
5.14.1
TIME AND MATERIAL (T&M) MODEL
 
 
 
 
5.14.2
FIXED PRICE MODEL
 
 
 
 
5.14.3
DEDICATED TEAM/OFFSHORE DEVELOPMENT CENTER (ODC)
 
 
 
 
5.14.4
OUTCOME-BASED MODEL
 
 
 
5.15
INVESTMENT AND FUNDING SCENARIO
 
 
 
 
5.16
IMPACT OF AI/GENERATIVE AI ON PRODUCT ENGINEERING SERVICES MARKET
 
 
 
 
 
 
5.16.1
CASE STUDY
 
 
 
 
 
5.16.1.1
GENAI-POWERED OPERATIONS ENSURE SEAMLESS SERVICE FOR MILLIONS OF SUBSCRIBERS
 
 
 
5.16.2
VENDOR INITIATIVE
 
 
 
 
 
5.16.2.1
CAPGEMINI
 
 
 
 
5.16.2.2
EPAM SYSTEMS
 
 
5.17
IMPACT OF 2025 US TARIFF – PRODUCT ENGINEERING SERVICES MARKET
 
 
 
 
 
 
5.17.1
INTRODUCTION
 
 
 
 
 
5.17.1.1
KEY TARIFF RATES
 
 
 
 
5.17.1.2
PRICE IMPACT ANALYSIS
 
 
5.18
IMPACT ON REGION
 
 
 
 
 
5.18.1
NORTH AMERICA
 
 
 
 
 
5.18.1.1
US
 
 
 
 
5.18.1.2
CANADA
 
 
 
 
5.18.1.3
MEXICO
 
 
 
5.18.2
EUROPE
 
 
 
 
 
5.18.2.1
GERMANY
 
 
 
 
5.18.2.2
FRANCE
 
 
 
5.18.3
ASIA PACIFIC
 
 
 
 
 
5.18.3.1
CHINA
 
 
 
 
5.18.3.2
INDIA
 
 
 
 
5.18.3.3
AUSTRALIA
 
6
PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE
Market Size & Growth Rate Forecast Analysis to 2030 in USD Billion | 16 Data Tables
 
 
 
101
 
6.1
INTRODUCTION
 
 
 
 
 
6.1.1
SERVICE TYPE: PRODUCT ENGINEERING SERVICES MARKET DRIVERS
 
 
 
6.2
PRODUCT DESIGN & PROTOTYPING
 
 
 
 
 
6.2.1
STRUCTURING EARLY-STAGE DEVELOPMENT THROUGH PRODUCT DESIGN AND PROTOTYPING
 
 
 
 
6.2.2
CONCEPT & IDEATION
 
 
 
 
6.2.3
UX/UI & INDUSTRIAL DESIGN
 
 
 
 
6.2.4
OTHERS (MBSE, DESIGN FOR MANUFACTURABILITY (DFM)/DESIGN FOR TESTABILITY (DFT))
 
 
 
6.3
PRODUCT DEVELOPMENT
 
 
 
 
 
6.3.1
ACCELERATING TIME-TO-MARKET THROUGH INTEGRATED ENGINEERING SOLUTIONS
 
 
 
 
6.3.2
SOFTWARE PRODUCT DEVELOPMENT
 
 
 
 
6.3.3
HARDWARE & EMBEDDED SYSTEMS DEVELOPMENT
 
 
 
 
6.3.4
PROTOTYPING & MVP DEVELOPMENT
 
 
 
 
6.3.5
INTEGRATION & INTERFACE DEVELOPMENT
 
 
 
6.4
TESTING & QUALITY ASSURANCE (QA)
 
 
 
 
 
6.4.1
ENSURING PRODUCT RELIABILITY THROUGH COMPREHENSIVE QUALITY VALIDATION
 
 
 
 
6.4.2
FUNCTIONAL & NON-FUNCTIONAL TESTING
 
 
 
 
6.4.3
TEST AUTOMATION
 
 
 
 
6.4.4
COMPLIANCE & CERTIFICATION
 
 
 
 
6.4.5
VALIDATION & VERIFICATION (V&V)
 
 
 
6.5
PRODUCT MODERNIZATION & INTEGRATION
 
 
 
 
 
6.5.1
TRANSFORMING LEGACY PRODUCTS INTO FUTURE-READY SOLUTIONS
 
 
 
 
6.5.2
LEGACY SYSTEM MIGRATION
 
 
 
 
6.5.3
PLATFORM RE-PLATFORMING
 
 
 
 
6.5.4
ARCHITECTURAL OVERHAUL
 
 
 
 
6.5.5
TECHNICAL DEBT REDUCTION
 
 
 
6.6
PROCESS ENGINEERING
 
 
 
 
 
6.6.1
OPTIMIZING MANUFACTURING EFFICIENCY THROUGH SYSTEMATIC PROCESS INNOVATION
 
 
 
 
6.6.2
MANUFACTURING ENGINEERING SUPPORT
 
 
 
 
6.6.3
KBE (KNOWLEDGE-BASED ENGINEERING)
 
 
 
 
6.6.4
MAINTENANCE, REPAIR & OPERATIONS (MRO)
 
 
 
6.7
REVERSE ENGINEERING
 
 
 
 
 
6.7.1
COMPREHENSIVE COMPONENT ANALYSIS AND RECREATION
 
 
 
 
6.7.2
3D SCANNING
 
 
 
 
6.7.3
APPLICATION MODERNIZATION & MIGRATION
 
 
 
 
6.7.4
OTHERS
 
 
 
6.8
PRODUCT SUSTENANCE & SUPPORT
 
 
 
 
 
6.8.1
ENSURING LONG-TERM PRODUCT VALUE THROUGH SUSTENANCE AND SUPPORT
 
 
 
 
6.8.2
BUG FIXING & MAINTENANCE
 
 
 
 
6.8.3
PERFORMANCE OPTIMIZATION & MONITORING
 
 
 
 
6.8.4
FEATURE ENHANCEMENTS & UPGRADES
 
 
 
 
6.8.5
SECURITY UPDATES & COMPLIANCE
 
 
 
 
6.8.6
DEVOPS & MLOPS SUPPORT
 
 
7
PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE
Market Size & Growth Rate Forecast Analysis to 2030 in USD Billion | 10 Data Tables
 
 
 
123
 
7.1
INTRODUCTION
 
 
 
 
 
7.1.1
DELIVERY MODE: PRODUCT ENGINEERING SERVICES MARKET DRIVERS
 
 
 
7.2
ONSHORE
 
 
 
 
 
7.2.1
MAXIMIZING PES VALUE THROUGH STRATEGIC ONSHORE DELIVERY EXCELLENCE
 
 
 
7.3
OFFSHORE
 
 
 
 
 
7.3.1
SCALING GLOBAL EXECUTION WITH OFFSHORE ENGINEERING HUBS
 
 
 
7.4
NEARSHORE
 
 
 
 
 
7.4.1
BALANCING COST AND COLLABORATION WITH NEARSHORE ENGINEERING DELIVERY
 
 
 
7.5
HYBRID
 
 
 
 
 
7.5.1
MAXIMIZING DELIVERY FLEXIBILITY THROUGH HYBRID ENGINEERING MODELS
 
 
8
PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE
Market Size & Growth Rate Forecast Analysis to 2030 in USD Billion | 6 Data Tables
 
 
 
131
 
8.1
INTRODUCTION
 
 
 
 
 
8.1.1
ORGANIZATION SIZE: PRODUCT ENGINEERING SERVICES MARKET DRIVERS
 
 
 
8.2
LARGE ENTERPRISES
 
 
 
 
 
8.2.1
EMPOWERING COMPLEX ENGINEERING PROGRAMS FOR LARGE ENTERPRISES
 
 
 
8.3
SMES
 
 
 
 
 
8.3.1
ACCELERATING AGILE INNOVATION FOR SMES IN PRODUCT ENGINEERING
 
 
9
PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL
Market Size & Growth Rate Forecast Analysis to 2030 in USD Billion | 22 Data Tables
 
 
 
136
 
9.1
INTRODUCTION
 
 
 
 
 
9.1.1
VERTICAL: PRODUCT ENGINEERING SERVICES MARKET DRIVERS
 
 
 
9.2
INDUSTRIAL MANUFACTURING
 
 
 
 
 
9.2.1
DRIVING OPERATIONAL EFFICIENCY AND SMART INNOVATION IN INDUSTRIAL MANUFACTURING
 
 
 
 
9.2.2
INDUSTRIAL MANUFACTURING: USE CASES
 
 
 
 
 
9.2.2.1
INDUSTRY 4.0
 
 
 
 
9.2.2.2
IOT FOR SMART FACTORIES
 
 
 
 
9.2.2.3
DIGITAL TWINS
 
 
 
 
9.2.2.4
OTHERS (PLC & HMI DEVELOPMENT, PREDICTIVE MAINTENANCE SOLUTIONS)
 
 
9.3
AUTOMOTIVE & TRANSPORTATION
 
 
 
 
 
9.3.1
ELECTRIFICATION AND SMART MOBILITY SOLUTIONS FOR SUSTAINABLE TRANSPORTATION
 
 
 
 
9.3.2
AUTOMOTIVE & TRANSPORTATION: USE CASES
 
 
 
 
 
9.3.2.1
CONNECTED CARS
 
 
 
 
9.3.2.2
ADAS
 
 
 
 
9.3.2.3
INFOTAINMENT
 
 
 
 
9.3.2.4
OTHERS (BATTERY MANAGEMENT SYSTEMS (BMS), OVER-THE-AIR (OTA) UPDATES, VEHICLE DIAGNOSTICS & TELEMATICS)
 
 
9.4
HEALTHCARE & LIFE SCIENCES
 
 
 
 
 
9.4.1
ENABLING INTELLIGENT, COMPLIANT HEALTHCARE SYSTEMS
 
 
 
 
9.4.2
HEALTHCARE & LIFE SCIENCES: USE CASES
 
 
 
 
 
9.4.2.1
MEDICAL DEVICES
 
 
 
 
9.4.2.2
E-HEALTH PLATFORMS
 
 
 
 
9.4.2.3
TELEMEDICINE
 
 
 
 
9.4.2.4
OTHERS (REMOTE MONITORING, WORKFLOW AUTOMATION)
 
 
9.5
AEROSPACE & DEFENSE
 
 
 
 
 
9.5.1
PRECISION ENGINEERING FOR HIGH-STAKES AEROSPACE & DEFENSE SYSTEMS
 
 
 
 
9.5.2
AEROSPACE & DEFENSE: USE CASES
 
 
 
 
 
9.5.2.1
AVIONICS
 
 
 
 
9.5.2.2
DEFENSE SYSTEMS
 
 
 
 
9.5.2.3
SIMULATION AND TRAINING
 
 
 
 
9.5.2.4
OTHERS (UAS DEVELOPMENT, SATELLITE COMMUNICATION SYSTEMS)
 
 
9.6
SEMICONDUCTOR & ELECTRONICS
 
 
 
 
 
9.6.1
ENABLING SMARTER, FASTER, HIGH-DENSITY ELECTRONICS
 
 
 
 
9.6.2
SEMICONDUCTOR & ELECTRONICS: USE CASES
 
 
 
 
 
9.6.2.1
CHIP DESIGN & DEVELOPMENT
 
 
 
 
9.6.2.2
EMBEDDED SYSTEMS & FIRMWARE ENGINEERING
 
 
 
 
9.6.2.3
TESTING & VALIDATION (DFT, DFM, DFT)
 
 
 
 
9.6.2.4
OTHERS (HARDWARE BOARD DESIGN, EDA TOOLCHAIN AUTOMATION, SMART DEVICE ENGINEERING)
 
 
9.7
IT & TELECOM
 
 
 
 
 
9.7.1
ENGINEERING INTELLIGENT CONNECTIVITY FOR DIGITAL ERA
 
 
 
 
9.7.2
IT & TELECOM: USE CASES
 
 
 
 
 
9.7.2.1
NETWORK FUNCTION VIRTUALIZATION (NFV) & SDN PRODUCT DEVELOPMENT
 
 
 
 
9.7.2.2
5G INFRASTRUCTURE ENABLEMENT
 
 
 
 
9.7.2.3
OTHERS (OSS/BSS PLATFORM MODERNIZATION, CLOUD-NATIVE SAAS PLATFORM DEVELOPMENT, TELECOM HARDWARE & EMBEDDED SYSTEMS DESIGN)
 
 
9.8
BFSI
 
 
 
 
 
9.8.1
BUILDING SECURE AND SCALABLE PLATFORMS FOR FINANCIAL OPERATIONS
 
 
 
 
9.8.2
BFSI: USE CASES
 
 
 
 
 
9.8.2.1
FINTECH SOLUTIONS
 
 
 
 
9.8.2.2
DIGITAL BANKING
 
 
 
 
9.8.2.3
TRADING PLATFORMS
 
 
 
 
9.8.2.4
OTHERS (INSURTECH, REGTECH TOOLS)
 
 
9.9
RETAIL & E-COMMERCE
 
 
 
 
 
9.9.1
PRODUCT ENGINEERING FOR SEAMLESS RETAIL JOURNEYS
 
 
 
 
9.9.2
RETAIL & E-COMMERCE: USE CASES
 
 
 
 
 
9.9.2.1
DIGITAL COMMERCE PLATFORMS
 
 
 
 
9.9.2.2
PERSONALIZED SHOPPING EXPERIENCES
 
 
 
 
9.9.2.3
OTHERS (RETAIL ANALYTICS, IN-STORE AUTOMATION)
 
 
9.10
ENERGY & UTILITIES
 
 
 
 
 
9.10.1
ENGINEERING RESILIENT AND INTELLIGENT ENERGY & UTILITY SYSTEMS FOR MODERN GRIDS
 
 
 
 
9.10.2
ENERGY & UTILITIES: USE CASES
 
 
 
 
 
9.10.2.1
SMART GRID SOLUTIONS
 
 
 
 
9.10.2.2
SCADA SYSTEMS ENGINEERING
 
 
 
 
9.10.2.3
OTHERS (RENEWABLE ENERGY MANAGEMENT PLATFORMS, FIELD SERVICE & MOBILITY SOLUTIONS)
 
 
9.11
OTHER VERTICALS
 
 
 
10
PRODUCT ENGINEERING SERVICES MARKET, BY REGION
Comprehensive coverage of 8 Regions with country-level deep-dive of 14 Countries | 94 Data Tables.
 
 
 
162
 
10.1
INTRODUCTION
 
 
 
 
10.2
NORTH AMERICA
 
 
 
 
 
10.2.1
NORTH AMERICA: MARKET DRIVERS
 
 
 
 
10.2.2
NORTH AMERICA: MACROECONOMIC OUTLOOK
 
 
 
 
10.2.3
US
 
 
 
 
 
10.2.3.1
ENHANCING ENGINEERING PRECISION AND SPEED WITH GENERATIVE AI
 
 
 
10.2.4
CANADA
 
 
 
 
 
10.2.4.1
GOVERNMENT-FUNDED NETWORK TO DRIVE MARKET
 
 
10.3
EUROPE
 
 
 
 
 
10.3.1
EUROPE: MARKET DRIVERS
 
 
 
 
10.3.2
EUROPE: MACROECONOMIC OUTLOOK
 
 
 
 
10.3.3
UK
 
 
 
 
 
10.3.3.1
USE OF 5G TO INCREASE FACTORY OUTPUT TO ADVANCE INDUSTRY 4.0
 
 
 
10.3.4
GERMANY
 
 
 
 
 
10.3.4.1
MITTELSTAND-DIGITAL INITIATIVE CREATING NETWORKS BETWEEN STAKEHOLDERS
 
 
 
10.3.5
FRANCE
 
 
 
 
 
10.3.5.1
MAJOR PRODUCER OF PROFESSIONAL ELECTRONICS
 
 
 
10.3.6
ITALY
 
 
 
 
 
10.3.6.1
LEVERAGING PUBLIC R&D INVESTMENTS TO DRIVE ENGINEERING INNOVATION
 
 
 
10.3.7
REST OF EUROPE
 
 
 
10.4
ASIA PACIFIC
 
 
 
 
 
10.4.1
ASIA PACIFIC: MARKET DRIVERS
 
 
 
 
10.4.2
ASIA PACIFIC: MACROECONOMIC OUTLOOK
 
 
 
 
10.4.3
CHINA
 
 
 
 
 
10.4.3.1
NEV REVOLUTIONIZING PRODUCT ENGINEERING
 
 
 
10.4.4
JAPAN
 
 
 
 
 
10.4.4.1
PROMINENT MANUFACTURING SECTOR AND AUTO PARTS SUPPLIERS
 
 
 
10.4.5
INDIA
 
 
 
 
 
10.4.5.1
ACCELERATING PRODUCT ENGINEERING GROWTH WITH INNOVATION AND GOVERNMENT SUPPORT
 
 
 
10.4.6
REST OF ASIA PACIFIC
 
 
 
10.5
MIDDLE EAST & AFRICA
 
 
 
 
 
10.5.1
MIDDLE EAST & AFRICA: MARKET DRIVERS
 
 
 
 
10.5.2
MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK
 
 
 
 
10.5.3
GULF COOPERATION COUNCIL (GCC)
 
 
 
 
 
10.5.3.1
UAE
 
 
 
 
10.5.3.2
SAUDI ARABIA
 
 
 
 
10.5.3.3
REST OF GCC
 
 
 
10.5.4
SOUTH AFRICA
 
 
 
 
 
10.5.4.1
RESURGENCE OF TECH WORKFORCE AND PUSH FOR INDUSTRIAL INNOVATION
 
 
 
10.5.5
REST OF MIDDLE EAST & AFRICA
 
 
 
10.6
LATIN AMERICA
 
 
 
 
 
10.6.1
LATIN AMERICA: MARKET DRIVERS
 
 
 
 
10.6.2
LATIN AMERICA: MACROECONOMIC OUTLOOK
 
 
 
 
10.6.3
BRAZIL
 
 
 
 
 
10.6.3.1
ELEVATING PRODUCT ENGINEERING THROUGH INNOVATION IN AEROSPACE AND MARITIME
 
 
 
10.6.4
MEXICO
 
 
 
 
 
10.6.4.1
RISING INVESTMENT IN R&D AND TECHNOLOGY-DRIVEN MANUFACTURING
 
 
 
10.6.5
REST OF LATIN AMERICA
 
 
11
COMPETITIVE LANDSCAPE
Discover which strategies propel key players to dominate market share and revenue growth.
 
 
 
207
 
11.1
INTRODUCTION
 
 
 
 
11.2
KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022–2025
 
 
 
 
11.3
MARKET SHARE ANALYSIS, 2024
 
 
 
 
 
11.4
REVENUE ANALYSIS, 2020–2024
 
 
 
 
 
11.5
COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
 
 
 
 
 
 
11.5.1
STARS
 
 
 
 
11.5.2
EMERGING LEADERS
 
 
 
 
11.5.3
PERVASIVE PLAYERS
 
 
 
 
11.5.4
PARTICIPANTS
 
 
 
 
11.5.5
COMPANY FOOTPRINT: KEY PLAYERS, 2024
 
 
 
 
 
11.5.5.1
COMPANY FOOTPRINT
 
 
 
 
11.5.5.2
REGION FOOTPRINT
 
 
 
 
11.5.5.3
SERVICE TYPE FOOTPRINT
 
 
 
 
11.5.5.4
VERTICAL FOOTPRINT
 
 
11.6
COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024
 
 
 
 
 
 
11.6.1
PROGRESSIVE COMPANIES
 
 
 
 
11.6.2
RESPONSIVE COMPANIES
 
 
 
 
11.6.3
DYNAMIC COMPANIES
 
 
 
 
11.6.4
STARTING BLOCKS
 
 
 
 
11.6.5
COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024
 
 
 
 
 
11.6.5.1
DETAILED LIST OF KEY STARTUPS/SMES
 
 
 
 
11.6.5.2
COMPETITIVE BENCHMARKING OF STARTUPS/SMES
 
 
11.7
COMPANY VALUATION AND FINANCIAL METRICS
 
 
 
 
 
11.7.1
COMPANY VALUATION
 
 
 
 
11.7.2
FINANCIAL METRICS
 
 
 
11.8
BRAND/PRODUCT COMPARISON
 
 
 
 
 
 
11.8.1
IBM (PRODUCT DESIGN & ENGINEERING SERVICES)
 
 
 
 
11.8.2
HCL TECHNOLOGIES (PRODUCT ENGINEERING SERVICES)
 
 
 
 
11.8.3
COGNIZANT (SOFTWARE ENGINEERING SERVICES)
 
 
 
 
11.8.4
CAPGEMINI (SOFTWARE PRODUCT ENGINEERING)
 
 
 
 
11.8.5
ALTEN GROUP (SOFTWARE ENGINEERING SERVICES)
 
 
 
11.9
COMPETITIVE SCENARIO
 
 
 
 
 
11.9.1
PRODUCT LAUNCHES AND ENHANCEMENT
 
 
 
 
11.9.2
DEALS
 
 
12
COMPANY PROFILES
In-depth Company Profiles of Leading Market Players with detailed Business Overview, Product and Service Portfolio, Recent Developments, and Unique Analyst Perspective (MnM View)
 
 
 
236
 
12.1
INTRODUCTION
 
 
 
 
12.2
MAJOR PLAYERS
 
 
 
 
 
12.2.1
ACCENTURE
 
 
 
 
 
12.2.1.1
BUSINESS OVERVIEW
 
 
 
 
12.2.1.2
PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
12.2.1.3
RECENT DEVELOPMENTS
 
 
 
 
12.2.1.4
MNM VIEW
 
 
 
12.2.2
CAPGEMINI
 
 
 
 
12.2.3
TCS
 
 
 
 
12.2.4
COGNIZANT
 
 
 
 
12.2.5
HCL TECHNOLOGIES
 
 
 
 
12.2.6
IBM
 
 
 
 
12.2.7
WIPRO
 
 
 
 
12.2.8
ALTEN GROUP
 
 
 
 
12.2.9
LTIMINDTREE
 
 
 
 
12.2.10
AVL
 
 
 
12.3
OTHER PLAYERS
 
 
 
 
 
12.3.1
HAPPIEST MINDS
 
 
 
 
12.3.2
NEST DIGITAL
 
 
 
 
12.3.3
TVS NEXT
 
 
 
 
12.3.4
MPHASIS
 
 
 
 
12.3.5
NOUS INFOSYSTEMS
 
 
 
 
12.3.6
EPAM SYSTEMS
 
 
 
 
12.3.7
TECH MAHINDRA
 
 
 
 
12.3.8
TRIGENT SOFTWARE
 
 
 
 
12.3.9
SEGULA TECHNOLOGIES
 
 
 
 
12.3.10
SYSVINE TECHNOLOGIES
 
 
 
 
12.3.11
ASPIRE SYSTEMS
 
 
 
 
12.3.12
BRILLIO
 
 
 
 
12.3.13
CYBAGE
 
 
 
 
12.3.14
GLOBALLOGIC
 
 
 
 
12.3.15
GLOBANT
 
 
 
 
12.3.16
HARMAN
 
 
 
 
12.3.17
INNOMINDS
 
 
 
 
12.3.18
PERSISTENT SYSTEMS
 
 
 
 
12.3.19
SONATA SOFTWARE
 
 
 
 
12.3.20
UST
 
 
 
 
12.3.21
TO THE NEW
 
 
 
 
12.3.22
INFOSYS
 
 
 
 
12.3.23
DAFFODIL SOFTWARE
 
 
 
 
12.3.24
BLUE COPPER TECHNOLOGIES
 
 
 
 
12.3.25
SYNERGYTOP
 
 
 
 
12.3.26
THOUGHT&FUNCTION
 
 
13
ADJACENT/RELATED MARKETS
 
 
 
308
 
13.1
INTRODUCTION
 
 
 
 
 
13.1.1
RELATED MARKETS
 
 
 
 
13.1.2
LIMITATIONS
 
 
 
13.2
SIMULATION SOFTWARE MARKET
 
 
 
 
13.3
IOT ENGINEERING SERVICES MARKET
 
 
 
14
APPENDIX
 
 
 
312
 
14.1
DISCUSSION GUIDE
 
 
 
 
14.2
KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
 
 
 
 
14.3
CUSTOMIZATION OPTIONS
 
 
 
 
14.4
RELATED REPORTS
 
 
 
 
14.5
AUTHOR DETAILS
 
 
 
LIST OF TABLES
 
 
 
 
 
TABLE 1
USD EXCHANGE RATES, 2019–2024
 
 
 
 
TABLE 2
FACTOR ANALYSIS
 
 
 
 
TABLE 3
PRODUCT ENGINEERING SERVICES MARKET SIZE AND GROWTH, 2020–2024 (USD BILLION, YOY GROWTH %)
 
 
 
 
TABLE 4
PRODUCT ENGINEERING SERVICES MARKET SIZE AND GROWTH, 2025–2030 (USD BILLION, YOY GROWTH %)
 
 
 
 
TABLE 5
ROLE OF COMPANIES IN ECOSYSTEM
 
 
 
 
TABLE 6
INDICATIVE PRICING ANALYSIS OF KEY PLAYERS, BY SERVICE, 2025
 
 
 
 
TABLE 7
LIST OF MAJOR PATENTS, 2015–2024
 
 
 
 
TABLE 8
NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
 
 
 
 
TABLE 9
EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
 
 
 
 
TABLE 10
ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
 
 
 
 
TABLE 11
REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
 
 
 
 
TABLE 12
PRODUCT ENGINEERING SERVICES MARKET: PORTER’S FIVE FORCES ANALYSIS
 
 
 
 
TABLE 13
INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS
 
 
 
 
TABLE 14
KEY BUYING CRITERIA FOR TOP THREE VERTICALS
 
 
 
 
TABLE 15
PRODUCT ENGINEERING SERVICES MARKET: KEY CONFERENCES AND EVENTS, 2025–2026
 
 
 
 
TABLE 16
US ADJUSTED RECIPROCAL TARIFF RATES
 
 
 
 
TABLE 17
EXPECTED CHANGE IN PRICES AND THE LIKELY IMPACT ON PRODUCT ENGINEERING SERVICES MARKET DUE TO TARIFF
 
 
 
 
TABLE 18
PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 19
PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 20
PRODUCT DESIGN & PROTOTYPING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 21
PRODUCT DESIGN & PROTOTYPING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 22
PRODUCT DEVELOPMENT: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 23
PRODUCT DEVELOPMENT: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 24
TESTING & QUALITY ASSURANCE (QA): PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 25
TESTING & QUALITY ASSURANCE (QA): PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 26
PRODUCT MODERNIZATION & INTEGRATION: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 27
PRODUCT MODERNIZATION & INTEGRATION: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 28
PROCESS ENGINEERING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 29
PROCESS ENGINEERING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 30
REVERSE ENGINEERING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 31
REVERSE ENGINEERING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 32
PRODUCT SUSTENANCE & SUPPORT: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 33
PRODUCT SUSTENANCE & SUPPORT: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 34
PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 35
PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 36
ONSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 37
ONSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 38
OFFSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 39
OFFSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 40
NEARSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 41
NEARSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 42
HYBRID: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 43
HYBRID: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 44
PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 45
PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 46
LARGE ENTERPRISES: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 47
LARGE ENTERPRISES: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 48
SMES: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 49
SMES: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 50
PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 51
PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 52
INDUSTRIAL MANUFACTURING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 53
INDUSTRIAL MANUFACTURING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 54
AUTOMOTIVE & TRANSPORTATION: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 55
AUTOMOTIVE & TRANSPORTATION: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 56
HEALTHCARE & LIFE SCIENCES: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 57
HEALTHCARE & LIFE SCIENCES: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 58
AEROSPACE & DEFENSE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 59
AEROSPACE & DEFENSE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 60
SEMICONDUCTOR & ELECTRONICS: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 61
SEMICONDUCTOR & ELECTRONICS: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 62
IT & TELECOM: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 63
IT & TELECOM: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 64
BFSI: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 65
BFSI: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 66
RETAIL & E-COMMERCE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 67
RETAIL & E-COMMERCE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 68
ENERGY & UTILITIES: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 69
ENERGY & UTILITIES: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 70
OTHER VERTICALS: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 71
OTHER VERTICALS: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 72
PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 73
PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 74
NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 75
NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 76
NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 77
NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 78
NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 79
NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 80
NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 81
NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 82
NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 83
NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 84
US: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 85
US: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 86
CANADA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 87
CANADA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 88
EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 89
EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 90
EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 91
EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 92
EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 93
EUROPE: PRODUCT ENGINEERING MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 94
EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 95
EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 96
EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 97
EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 98
UK: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 99
UK: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 100
GERMANY: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 101
GERMANY: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 102
FRANCE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 103
FRANCE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 104
ITALY: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 105
ITALY: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 106
REST OF EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 107
REST OF EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 108
ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 109
ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 110
ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 111
ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 112
ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 113
ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 114
ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 115
ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 116
ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 117
ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 118
CHINA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 119
CHINA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 120
JAPAN: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 121
JAPAN: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 122
INDIA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 123
INDIA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 124
REST OF ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 125
REST OF ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 126
MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 127
MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 128
MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 129
MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 130
MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 131
MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 132
MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 133
MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 134
MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 135
MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 136
GCC: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 137
GCC: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 138
GCC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 139
GCC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 140
UAE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 141
UAE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 142
SAUDI ARABIA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 143
SAUDI ARABIA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 144
REST OF GCC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 145
REST OF GCC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 146
SOUTH AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 147
SOUTH AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 148
REST OF MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 149
REST OF MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 150
LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 151
LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 152
LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 153
LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 154
LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 155
LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 156
LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 157
LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 158
LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 159
LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 160
BRAZIL: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 161
BRAZIL: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 162
MEXICO: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 163
MEXICO: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 164
REST OF LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)
 
 
 
 
TABLE 165
REST OF LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)
 
 
 
 
TABLE 166
PRODUCT ENGINEERING SERVICES MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2022–2025
 
 
 
 
TABLE 167
PRODUCT ENGINEERING SERVICES MARKET: DEGREE OF COMPETITION, 2024
 
 
 
 
TABLE 168
PRODUCT ENGINEERING SERVICES MARKET: REGION FOOTPRINT
 
 
 
 
TABLE 169
PRODUCT ENGINEERING SERVICES MARKET: SERVICE TYPE FOOTPRINT
 
 
 
 
TABLE 170
PRODUCT ENGINEERING SERVICES MARKET: VERTICAL FOOTPRINT
 
 
 
 
TABLE 171
PRODUCT ENGINEERING SERVICES MARKET: LIST OF KEY STARTUPS/SMES
 
 
 
 
TABLE 172
PRODUCT ENGINEERING SERVICES MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
 
 
 
 
TABLE 173
PRODUCT ENGINEERING SERVICES MARKET: PRODUCT LAUNCHES AND ENHANCEMENTS, MAY 2023–JUNE 2025
 
 
 
 
TABLE 174
PRODUCT ENGINEERING SERVICES MARKET: DEALS, MAY 2023–JUNE 2025
 
 
 
 
TABLE 175
ACCENTURE: COMPANY OVERVIEW
 
 
 
 
TABLE 176
ACCENTURE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
TABLE 177
ACCENTURE: DEALS
 
 
 
 
TABLE 178
ACCENTURE: EXPANSIONS
 
 
 
 
TABLE 179
CAPGEMINI: COMPANY OVERVIEW
 
 
 
 
TABLE 180
CAPGEMINI: PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
TABLE 181
CAPGEMINI: PRODUCT LAUNCHES AND ENHANCEMENTS
 
 
 
 
TABLE 182
CAPGEMINI: DEALS
 
 
 
 
TABLE 183
CAPGEMINI: EXPANSIONS
 
 
 
 
TABLE 184
TCS: COMPANY OVERVIEW
 
 
 
 
TABLE 185
TCS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
TABLE 186
TCS: PRODUCT LAUNCHES AND ENHANCEMENTS AND ENHANCEMENTS
 
 
 
 
TABLE 187
TCS: DEALS
 
 
 
 
TABLE 188
COGNIZANT: COMPANY OVERVIEW
 
 
 
 
TABLE 189
COGNIZANT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
TABLE 190
COGNIZANT: PRODUCT LAUNCHES AND ENHANCEMENTS
 
 
 
 
TABLE 191
COGNIZANT: DEALS
 
 
 
 
TABLE 192
HCL TECHNOLOGIES: COMPANY OVERVIEW
 
 
 
 
TABLE 193
HCL TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
TABLE 194
HCL TECHNOLOGIES: PRODUCT LAUNCHES AND ENHANCEMENTS
 
 
 
 
TABLE 195
HCL TECHNOLOGIES: DEALS
 
 
 
 
TABLE 196
IBM: COMPANY OVERVIEW
 
 
 
 
TABLE 197
IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
TABLE 198
IBM: PRODUCT LAUNCHES AND ENHANCEMENTS
 
 
 
 
TABLE 199
IBM: DEALS
 
 
 
 
TABLE 200
WIPRO: COMPANY OVERVIEW
 
 
 
 
TABLE 201
WIPRO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
TABLE 202
WIPRO: DEALS
 
 
 
 
TABLE 203
WIPRO: EXPANSIONS, MAY 2025 – JUNE 2023
 
 
 
 
TABLE 204
ALTEN GROUP: COMPANY OVERVIEW
 
 
 
 
TABLE 205
ALTEN GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
TABLE 206
ALTEN GROUP: DEALS
 
 
 
 
TABLE 207
LTIMINDTREE: COMPANY OVERVIEW
 
 
 
 
TABLE 208
LTIMINDTREE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
TABLE 209
LTIMINDTREE: PRODUCT LAUNCHES AND ENHANCEMENTS
 
 
 
 
TABLE 210
LTIMINDTREE: DEALS
 
 
 
 
TABLE 211
LTIMINDTREE: EXPANSIONS, JUNE 2024 – JUNE 2024
 
 
 
 
TABLE 212
AVL: COMPANY OVERVIEW
 
 
 
 
TABLE 213
AVL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
 
 
 
 
TABLE 214
AVL: DEALS
 
 
 
 
TABLE 215
SIMULATION SOFTWARE MARKET, BY OFFERING, 2018–2023 (USD MILLION)
 
 
 
 
TABLE 216
SIMULATION SOFTWARE MARKET, BY OFFERING, 2024–2030 (USD MILLION)
 
 
 
 
TABLE 217
SIMULATION SOFTWARE MARKET, BY SOFTWARE TYPE, 2018–2023 (USD MILLION)
 
 
 
 
TABLE 218
SIMULATION SOFTWARE MARKET, BY SOFTWARE TYPE, 2024–2030 (USD MILLION)
 
 
 
 
TABLE 219
IOT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2015–2022 (USD MILLION)
 
 
 
 
TABLE 220
IOT ENGINEERING SERVICES MARKET, BY END USER, 2015–2022 (USD MILLION)
 
 
 
 
LIST OF FIGURES
 
 
 
 
 
FIGURE 1
PRODUCT ENGINEERING SERVICES MARKET: RESEARCH DESIGN
 
 
 
 
FIGURE 2
BREAKUP OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION, AND REGION
 
 
 
 
FIGURE 3
PRODUCT ENGINEERING SERVICES MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES
 
 
 
 
FIGURE 4
MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
 
 
 
 
FIGURE 5
MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
 
 
 
 
FIGURE 6
PRODUCT ENGINEERING SERVICES MARKET: RESEARCH FLOW
 
 
 
 
FIGURE 7
MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
 
 
 
 
FIGURE 8
MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH FROM SUPPLY SIDE – COLLECTIVE REVENUE OF VENDORS
 
 
 
 
FIGURE 9
PRODUCT ENGINEERING SERVICES MARKET: DEMAND-SIDE APPROACH
 
 
 
 
FIGURE 10
PRODUCT ENGINEERING SERVICES MARKET TO WITNESS SIGNIFICANT GROWTH
 
 
 
 
FIGURE 11
FASTEST-GROWING SEGMENTS IN PRODUCT ENGINEERING SERVICES MARKET, 2025–2030
 
 
 
 
FIGURE 12
PRODUCT ENGINEERING SERVICES MARKET: REGIONAL SNAPSHOT
 
 
 
 
FIGURE 13
INCREASING PRODUCT COMPLEXITY AND DEMAND FOR FASTER INNOVATION TO DRIVE MARKET
 
 
 
 
FIGURE 14
PRODUCT DEVELOPMENT SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
 
 
 
 
FIGURE 15
OFFSHORE SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
 
 
 
 
FIGURE 16
LARGE ENTERPRISES SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
 
 
 
 
FIGURE 17
INDUSTRIAL MANUFACTURING SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
 
 
 
 
FIGURE 18
ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENT IN NEXT FIVE YEARS
 
 
 
 
FIGURE 19
PRODUCT ENGINEERING SERVICES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
 
 
 
 
FIGURE 20
PRODUCT ENGINEERING SERVICES MARKET: ECOSYSTEM ANALYSIS
 
 
 
 
FIGURE 21
PRODUCT ENGINEERING SERVICES MARKET: SUPPLY CHAIN ANALYSIS
 
 
 
 
FIGURE 22
AVERAGE SELLING PRICE OF SERVICE PROVIDERS, BY REGION, 2025
 
 
 
 
FIGURE 23
PATENTS APPLIED AND PUBLISHED, 2014–2024
 
 
 
 
FIGURE 24
PORTER’S FIVE FORCES ANALYSIS: PRODUCT ENGINEERING SERVICES MARKET
 
 
 
 
FIGURE 25
INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS
 
 
 
 
FIGURE 26
KEY BUYING CRITERIA FOR TOP THREE VERTICALS
 
 
 
 
FIGURE 27
PRODUCT ENGINEERING SERVICES MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS
 
 
 
 
FIGURE 28
LEADING GLOBAL PRODUCT ENGINEERING SERVICES MARKET VENDORS, BY NUMBER OF INVESTORS AND FUNDING ROUND, 2025
 
 
 
 
FIGURE 29
IMPACT OF GENAI ON PRODUCT ENGINEERING SERVICES MARKET
 
 
 
 
FIGURE 30
PRODUCT DEVELOPMENT SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
 
 
 
 
FIGURE 31
OFFSHORE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
 
 
 
 
FIGURE 32
LARGE ENTERPRISES SEGMENT TO HOLD LARGER MARKET SIZE DURING FORECAST PERIOD
 
 
 
 
FIGURE 33
INDUSTRIAL MANUFACTURING SEGMENT TO ACCOUNT FOR LARGEST MARKET SIZE DURING FORECAST PERIOD
 
 
 
 
FIGURE 34
NORTH AMERICA TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
 
 
 
 
FIGURE 35
NORTH AMERICA: MARKET SNAPSHOT
 
 
 
 
FIGURE 36
ASIA PACIFIC: MARKET SNAPSHOT
 
 
 
 
FIGURE 37
SHARE ANALYSIS OF PRODUCT ENGINEERING SERVICES MARKET, 2024
 
 
 
 
FIGURE 38
PRODUCT ENGINEERING SERVICES MARKET: REVENUE ANALYSIS OF KEY PLAYERS, 2020–2024 (USD MILLION)
 
 
 
 
FIGURE 39
COMPANY EVALUATION MATRIX FOR KEY PLAYERS: CRITERIA WEIGHTAGE
 
 
 
 
FIGURE 40
PRODUCT ENGINEERING SERVICES MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024
 
 
 
 
FIGURE 41
PRODUCT ENGINEERING SERVICES MARKET: COMPANY FOOTPRINT
 
 
 
 
FIGURE 42
EVALUATION MATRIX FOR STARTUPS/SMES: CRITERIA WEIGHTAGE
 
 
 
 
FIGURE 43
PRODUCT ENGINEERING SERVICES MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024
 
 
 
 
FIGURE 44
COMPANY VALUATION OF KEY VENDORS
 
 
 
 
FIGURE 45
EV/EBITDA ANALYSIS OF KEY VENDORS
 
 
 
 
FIGURE 46
YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND FIVE-YEAR STOCK BETA OF KEY VENDORS
 
 
 
 
FIGURE 47
PRODUCT ENGINEERING SERVICES MARKET: BRAND/PRODUCT COMPARISON
 
 
 
 
FIGURE 48
ACCENTURE: COMPANY SNAPSHOT
 
 
 
 
FIGURE 49
CAPGEMINI: COMPANY SNAPSHOT
 
 
 
 
FIGURE 50
TCS: COMPANY SNAPSHOT
 
 
 
 
FIGURE 51
COGNIZANT: COMPANY SNAPSHOT
 
 
 
 
FIGURE 52
HCL TECHNOLOGIES: COMPANY SNAPSHOT
 
 
 
 
FIGURE 53
IBM: COMPANY SNAPSHOT
 
 
 
 
FIGURE 54
WIPRO: COMPANY SNAPSHOT
 
 
 
 
FIGURE 55
ALTEN GROUP: COMPANY SNAPSHOT
 
 
 
 
FIGURE 56
LTIMINDTREE: COMPANY SNAPSHOT
 
 
 
 

Methodology

This research study on the product engineering services market involved extensive secondary sources, directories, IEEE Communication-Efficient: Algorithms and Systems, International Journal of Innovation and Technology Management, and paid databases. Primary sources were mainly industry experts from the core and related industries, preferred product engineering service providers, third-party service providers, consulting service providers, end users, and other commercial enterprises. In-depth interviews with primary respondents, including key industry participants and subject matter experts, were conducted to obtain and verify critical qualitative and quantitative information and assess the market’s prospects.

Secondary Research

In the secondary research process, various sources were referred to identify and collect information for this study. These included annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases. The data was also collected from other secondary sources, such as journals, government websites, blogs, and vendors’ websites. Additionally, spending on various countries’ product engineering services was extracted from the respective sources.

Primary Research

In the primary research process, various sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The supply side sources included various industry experts, such as Chief Experience Officers (CXOs), Vice Presidents (VPs), and Directors specializing in business development, marketing, and product engineering service providers. It also included key executives from product engineering services vendors, system integrators (SIs), professional service providers, industry associations, and other key opinion leaders.

Product Engineering Services Market Size, and Share

Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Tier 1 companies’ revenues are more than USD 10 billion; tier 2 companies’ revenues range between USD 1 and 10 billion; and tier 3 companies’ revenues range between USD 500 million and USD 1 billion.
Source: Industry Experts

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Multiple approaches were adopted to estimate and forecast the product engineering services market. The first approach involved estimating the market size by companies’ revenue generated through the sale of product engineering services.

The top-down approach prepared an exhaustive list of all the vendors offering products in the product engineering services market. The revenue contribution of the market vendors was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each vendor’s offerings were evaluated based on platform, degree of customization, type, application, end user, and region. The markets were triangulated through primary and secondary research. The primary procedure included extensive interviews for key insights from industry leaders, such as CIOs, CEOs, VPs, directors, and marketing executives. The market numbers were further triangulated with the existing MarketsandMarkets repository for validation.

Market Size Estimation Methodology-Bottom-up approach

The bottom-up approach identified the adoption rate of product engineering services among different verticals in key countries, focusing on the regions contributing the largest market share. The adoption of product engineering services among enterprises and other regional use cases was identified and extrapolated for cross-validation. Use cases identified in different areas were weighted for the market size calculation.

The regional split was determined by primary and secondary sources based on the market numbers. The procedure included an analysis of the product engineering services market’s regional penetration. Based on secondary research, the regional spending on Information and Communications Technology (ICT), socioeconomic analysis of each country, strategic vendor analysis of major product engineering service providers, and organic and inorganic business development activities of regional and global players were estimated.

Product Engineering Services Market : Top-Down and Bottom-Up Approach

Product Engineering Services Market Top Down and Bottom Up Approach

Data Triangulation

After determining the overall market size using the market size estimation processes explained above, the market was split into several segments and subsegments. Where applicable, data triangulation and market breakup procedures were employed to complete the overall market engineering process and determine each market segment’s and subsegment’s exact statistics. The overall market size was used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.

Market Definition

The product engineering services (PES) market encompasses outsourced services provided by third-party vendors to support software or hardware product design, development, testing, and deployment. These services span the entire product lifecycle, from ideation and prototyping to product maintenance and modernization. PES providers help organizations accelerate innovation, reduce time-to-market, optimize costs, and ensure high product quality. This market caters to automotive, healthcare, telecom, and consumer electronics industries, driven by the growing need for digital transformation, innovative product development, and emerging technologies such as AI, IoT, and cloud. PES typically includes embedded systems, software engineering, and mechanical design.

Stakeholders

  • Product Engineering Service Providers
  • Product Engineering Outsourcing Service Providers
  • Consultants/Consultancies/Advisory Firms
  • Governments and Standardization Bodies
  • Independent Software Vendors
  • Information Technology (IT) Infrastructure Providers
  • Regional Associations
  • Resellers and Distributors
  • Support and Maintenance Service Providers
  • System Integrators (SIs)
  • Third-party Providers
  • Value-added Resellers and Distributors

Report Objectives

  • To describe and forecast the global product engineering services market based on service type, organization size, vertical, and region
  • To forecast the market size of regional segments: North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America
  • To strategically analyze the market’s subsegments concerning individual growth trends, prospects, and contributions to the total market
  • To provide detailed information related to the significant factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To analyze industry trends, patents and innovations, and pricing data related to the market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for major players
  • To analyze the impact of AI/GenAI on the global product engineering service market
  • To profile key players in the market and comprehensively analyze their market share/ranking and core competencies
  • To track and analyze competitive developments, such as mergers & acquisitions, product developments, and partnerships & collaborations in the market

Available Customizations

With the given market data, MarketsandMarkets offers customizations to meet the company’s needs. The following customization options are available for the report:

Product Analysis

  • The product matrix provides a detailed comparison of each company’s portfolio.

Geographic Analysis as per Feasibility

  • Further breakup of the North American product engineering services market
  • Further breakup of the European product engineering services market
  • Further breakup of the Asia Pacific product engineering services market
  • Further breakup of the Middle East & Africa product engineering services market
  • Further breakup of the Latin American product engineering services market

Company Information

  • Detailed analysis and profiling of additional market players (up to five)

Key Questions Addressed by the Report

What is product engineering?

According to the Institute of Electrical and Electronics Engineers (IEEE), product engineering involves the application of systematic, disciplined, and quantifiable approaches to developing, operating, and maintaining products. It applies engineering principles to designing, developing, testing, and deploying hardware, embedded systems, and software products. It optimizes performance, cost, time-to-market, and user experience.

What services are typically offered in product engineering?

Product engineering services offer a focused suite of capabilities across the product lifecycle. New product development covers complete hardware and software creation. Embedded systems engineering delivers real-time firmware and integration for intelligent devices. Product modernization and integration upgrade legacy systems for compatibility with new technologies. QA and testing ensure product reliability, performance, and compliance. Sustenance and lifecycle management support ongoing maintenance and enhancements post-launch. Reverse engineering and digital twin design enable the analysis of existing products to drive improvements and virtual simulations for faster, smarter innovation.

What are the primary drivers of the growth of the product engineering services market?

The product engineering services market is driven by several key factors that are reshaping global priorities. The growing demand for digital product innovation is compelling enterprises to accelerate software and hardware development cycles. Rapid advancements in electric vehicles (EVs), artificial intelligence of things (AIoT), and autonomous mobility are pushing the need for domain-specific engineering expertise. Meanwhile, the proliferation of semiconductors and Connected smart devices fuel demand for embedded systems and real-time software integration. Generative artificial intelligence further transforms the landscape by enabling faster prototyping, automated quality assurance, and cost-efficient innovation, positioning PES as a strategic imperative for modern enterprises.

What challenges are product engineering service vendors facing?

PES vendors face multiple operational and technical challenges that hinder scalability and efficiency. One of the foremost issues is the growing complexity of DevOps toolchains, which leads to integration delays and inconsistent development workflows. Legacy infrastructure fragmentation further complicates service delivery, making modernization and interoperability difficult across client environments.
The rising demand for cross-domain expertise, particularly in AI, IoT, and cloud-native development, is also straining engineering resources. Standardization gaps across platforms and technologies often result in cost overruns, quality issues, and project delays, requiring PES vendors to invest in unified frameworks and specialized talent to remain competitive.

Who are the key vendors in the product engineering services market?

The key vendors in the global product engineering services market include IBM (US), Cognizant (US), HCL Tech (India), Capgemini (France), Alten Group (France), Accenture (Ireland), Wipro (India), and LTIMindtree (India).

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Growth opportunities and latent adjacency in Product Engineering Services Market

Scott

Feb, 2023

What are the future product engineering services market trends?.

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