HOME Research Insight Market Leader - Product Engineering Services Market

Market Leader - Product Engineering Services Market

The increasing demand for reduction in time to market & cost efficiency and the continuous need for innovation would act as the main drivers for the product engineering services market. The service offering of process engineering is expected to experience exponential growth during the forecast period. MarketsandMarkets forecasts the product engineering services market size to grow from USD 676.17 Billion in 2016 to USD 1,003.12 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 8.2%.

The product engineering services ecosystem comprises major vendors such as Altran (France), ALTEN Group (France), AVL (Austria), HCL (India), AKKA Technologies (France), IBM Corporation (U.S.), and Capgemini (France). These players have adopted various strategies such as partnerships, collaborations, agreements, mergers & acquisitions, and new product developments to achieve growth in the global product engineering services market.

Altran is one of the leading players in the product engineering services market. Altran was founded in 1982 and is headquartered in Paris, France. Altran is a global leader in innovation and engineering consulting. The company provides diversified sets of solutions for innovative product management, intelligent systems, lifecycle experience, mechanical engineering, and information systems. In December 2016, Altran announced the acquisition of BENTELER Engineering, a product engineering services provider, specializing in the automobile industry, thereby strengthening Altran’s presence in the German automobile industry. Altran’s mission is to help organizations plan, integrate, and develop new products and services. The company majorly focuses on internal development and promotes research and innovation internally, to increase the output by implementing its own “I Project.”

ALTEN Group is another major provider of product engineering services. ALTEN Group was founded in 1988 and is headquartered in Boulogne-Billancourt, France. The company has presence in 20 countries and an employee strength of 20,400, as of 2015. In February 2016, ALTEN Group announced the acquisition of the Italy-based NEXSE, a digital services provider, thereby improving its presence in the Italian region. The company focuses on achieving higher growth for its clients through operational excellence and has strong technology capabilities, such as agile development methodologies, matured engineering processes, and customer-centric approaches, which are backed by a global network of delivery centers and deep industry expertise.

Related Reports:

Product Engineering Services Market by Service (Product & Component Design, Process Engineering, Maintenance Repair & Operation), Organization Size (SMEs, and Large Enterprise), Vertical, and Region - Global Forecast to 2021

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