The Global Product Engineering Services Market is Predict to reach $2041.4 Billion by 2028, at a CAGR of 8.5%

Published Date: 31-Aug-2022

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Product Engineering Services Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Product Engineering Services Market size is expected to reach $2041.4 billion by 2028, rising at a market growth of 8.5% CAGR during the forecast period.

The Process Engineering segment is showcasing a CAGR of 8.2% during (2022 - 2028). Every stage of a product's design and production is monitored by a process engineering service provider. They perform the duties of a product engineer, who creates the actual items, as well as a process engineer, who manages and optimizes the industrial equipment used to process raw materials.

The Large Enterprises segment acquired maximum revenue share in the Global Product Engineering Services Market by Organization Size in 2021 thereby, achieving a market value of $1.4 Trillion by 2028. The rise in the growth of the segment is primarily owing to the rising willingness of various large enterprises to expand their business and offer enhanced customer experience to their customers. In order to meet this requirement, they are deploying product engineering services at a large scale. Hence, the growth of the segment is accelerated.

The Healthcare segment has shown the growth rate of 8.9% during (2022 - 2028). The growth of the segment is increasing at a rapid pace as a result of the rising demand for the new and efficient technologies and equipment within the healthcare infrastructure. In order to offer more effective treatment, governments and healthcare professionals are increasingly employing product engineering services with the aim to deploy novel and more advanced machines in hospitals and other healthcare facilities.

The Asia Pacific market dominated the Global Product Engineering Services Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $761.4 Billion by 2028. The Europe market is exhibiting a CAGR of 8.1% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 7.9% during (2022 - 2028).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Wipro Limited, Tata Consultancy Services Ltd., Accenture PLC, HCL Technologies Ltd., Capgemini SE, ALTEN, Happiest Minds Technologies Limited, AVL List GmbH, and AKKA Technologies SE.

Global Product Engineering Services Market Segmentation

By Service Type

  • Product & Component Design
  • Process Engineering
  • Maintenance, Repair & Operations
  • Others

By Organization Size

  • Large Enterprises
  • Small & Medium-sized Enterprises

By Vertical

  • Automotive & Transportation
  • Industrial Manufacturing
  • Healthcare
  • IT & Telecom
  • Energy & Utilities
  • BFSI
  • Aerospace & Defense
  • Media & Entertainment
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • IBM Corporation
  • Wipro Limited
  • Tata Consultancy Services Ltd.
  • Accenture PLC
  • HCL Technologies Ltd.
  • Capgemini SE
  • Happiest Minds Technologies Limited
  • AVL List GmbH
  • AKKA Technologies SE

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Related Reports:

North America Product Engineering Services Market size & Opportunities 2022-2028

Europe Product Engineering Services Market & Growth Forecast 2022-2028

Asia Pacific Product Engineering Services Market Share & Industry Outlook to 2028

LAMEA Product Engineering Services Market Growth, Trends & Forecasts 2022-2028

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