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Product Engineering Services Market Share

Report ID: GMI5754
Published Date: May 2023
Report Format: PDF

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Product Engineering Services Market Share

The major companies operating in the product engineering services market are :

Accenture
Capgemini
Cyient
HARMAN International (Samsung)
HCL Technologies Limited
IBM Corporation
Persistent Systems
TATA Consultancy Services Limited.

These companies are focusing on mergers & acquisitions to expand their presence. For instance, in April 2022, Cyient acquired Citec, a plant and product engineering services company that offers services for various industries including energy, process, manufacturing, and oil & gas. The acquisition improved the company’s position in the product engineering sector, reinforced its position in the energy sector, and built up its presence in Europe, especially in Nordic countries including Finland, Sweden, and Norway.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Market size for product engineering services was USD 950 billion in 2022 and will record more than 5% CAGR from 2023-2032 owing to the growing need for accelerating the time to market (TTM)

Product engineering services industry share from the healthcare industry vertical segment will observe over 10% CAGR from 2023-2032 due to the rising adoption of product engineering and IoT.

Asia Pacific market for product engineering services will witness over 5% CAGR from 2023-2032 driven by the large presence of SMEs in the region.

Accenture, Capgemini, Cyient, HARMAN International (Samsung), HCL Technologies Limited, IBM Corporation, Persistent Systems, and TATA Consultancy Services Limited are some of the key product engineering services industry players.