Product engineering refers to the process of innovating, testing, designing, deploying and developing a software product to address the complex challenges and its services are the engineering consulting services that involves various embedded hardware, IT solutions and software for the manufacturing of product. Product engineering manages the entire product lifecycle from the innovation phase, starting from the idea being conceived to the deployment and user acceptance testing phase. Product engineering services brings together technology expertise and deep domain for both the digital and physical world of products. Introduction of software-as-a-service (SaaS) and cloud has led to the transformation of customer-enabling engineering services like from traditional software engineering to product engineering.
Global Product Engineering Services Market: Key Players
The research study includes profiles of leading companies operating in the global product engineering services market. Key players profiled in the report include: Altran, Alten Group, AVL, HCL Technologies Ltd., Akka Technologies, International Business Machines (IBM) Corp., Capgemini, Tata Consultancy Services (TCS) Ltd., Wipro Ltd., Accenture PLC and Others.
Capgemini SE have acquired Altran Technologies SA in the year July 2019, this acquisition combined Capgemini and Altran to help clients in areas such as cloud computing, the internet of things, 5G, and artificial intelligence software.
Drivers for the Global Product Engineering Services Market:
Rise in demand of manufacturers from various businesses for developing the process of innovation and continuously re-engineering are some of the factors that are driving the growth of product engineering service market. Along with this, optimizing the software processes and reduction in production cost also drives the growth of product engineering service market.
Opportunities for the Global Product Engineering Services Market:
Emerging smart technologies like industrial internet of things (IIoT) will boost the growth of the product engineering service market in forecast period. In addition to this, in-vehicle networking system, smart home and smart electronic devices are also showing the opportunities to boost the growth of the of product engineering service market.
Restrains for the Global Product Engineering Services Market:
However, the fear among the manufacturers to lose the control over intellectual property rights hindering the growth of the product engineering service market. Along with this, wide difference of culture in respect to product design also hampers the growth of the product engineering service market.
Region Wise, Global Product Engineering Services Market Analysis:
Region wise, global product engineering services market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific held major share in the market because of increasing demand for organizing huge workforce, rise in technological adaption and increasing number of multigenerational workforce. North America is also having maximum share in the market followed by the European countries.
Global Product Engineering Services Market: Product analysis
- Process Engineering
- Product & Component Design
- Maintenance Repair & Operation
Global Product Engineering Services Market: Application analysis
- Large Enterprise
Global Product Engineering Services Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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