Product Engineering Services Market

According to a research report "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" published by MarketsandMarkets, the global product engineering services market size is projected to reach 1,800.45 billion by 2030 from  USD 1,297.71 billion in 2025, at a CAGR of 6.8% during the forecast period

Browse 220 market data Tables and 56 Figures spread through 321 Pages and in-depth TOC on "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"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/product-engineering-services-market-227956689.html

Product engineering services have revolutionized industries by adopting advanced technologies such as digital twins, generative artificial intelligence, edge computing, and RISC-V architectures. These innovations enable faster design validation, intelligent automation, and seamless hardware-software integration, accelerating development across automotive, healthcare, and industrial manufacturing while ensuring greater efficiency and product reliability.

The offshore delivery mode is expected to register the largest market share during the forecast period

Offshore delivery mode is driven by its ability to deliver high-quality innovation at scale, reduce operational costs, and support complex development lifecycles. As reported by the Economic Times in June 2025, India hosts over 1,700 Global Capability Centers (GCCs) that have transformed into strategic product engineering hubs, handling end-to-end development, platform modernization, and digital transformation initiatives for global enterprises. These centers leverage advanced technologies such as model-based systems engineering, low-code development, AI-driven test automation, and digital twin simulation to accelerate delivery. Offshore delivery enables round-the-clock collaboration, access to specialized talent, and faster turnaround times, making it ideal for high-demand sectors such as automotive, electronics, and industrial automation. The ability to scale engineering capacity, meet tight timelines, and integrate emerging technologies such as RISC-V and edge computing positions offshore delivery as a strategic advantage for businesses looking to drive innovation and remain competitive.

The product modernization & integration segment is expected to grow at the highest rate during the forecast period.

The automotive industry’s shift toward intelligent and connected mobility drives product modernization and integration. Automakers are rapidly replacing legacy systems to meet the demands of electrification, autonomy, and digital-first consumer expectations. In April 2025, Tata Technologies partnered with BMW to modernize next-generation vehicle platforms, underscoring the strategic focus on advanced engineering. In May 2025, HCLTech introduced intelligent vehicle-to-cloud integration and over-the-air update systems for real-time feature deployment. Emerging technologies include context-aware telematics, virtual production simulations, and Internet of Things-enabled predictive diagnostics. Businesses investing in modernization and integration gain faster innovation, lower technical debt, and competitive advantage in delivering scalable, high-performance products across a rapidly evolving global automotive ecosystem.

North America is expected to be the largest market during the forecast period.

North America is driven by aggressive investments in next-generation product development, cutting-edge design platforms, and deep-rooted industry expertise. In March 2025, GE Aerospace committed USD 1 billion to expand engineering operations across the US, focusing on additive manufacturing, advanced component design, and rapid prototyping, thus underscoring the region's shift toward high-value, innovation-led engineering. The automotive and aerospace industries are accelerating the adoption of simulation-based development, agile engineering workflows, and full-lifecycle product services to support electrification, autonomy, and smart systems. Companies such as General Motors, Ford, Boeing, and Honeywell are turning to engineering partners for modernization, embedded system integration, and platform convergence as legacy systems fall short of today's digital demands. The growing reliance on agile, cross-functional teams and digital-first design makes North America the global center for engineering innovation.

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

Don’t miss out on business opportunities in Product Engineering Services Industry. Speak to our analyst and gain crucial market insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter , LinkedIn and Facebook .

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com