Base Year
Historical Year
Forecast Year
The global engineering services market size reached USD 1168.70 billion in 2023. The market is projected to grow at a CAGR of 4.8% between 2024 and 2032, reaching almost USD 1782.19 billion by 2032.
| Global Engineering Services Market Report Summary | Description | Value |
| Basea Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 1,168.70 |
| Market Size 2032 | USD Billion | 1,782.19 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 4.8% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 6.2% |
| CAGR 2024-2032 - Market by Country | India | 7.1% |
| CAGR 2024-2032 - Market by Country | Brazil | 5.2% |
| CAGR 2024-2032 - Market by Services | Automated Related Services | 5.3% |
| CAGR 2024-2032 - Market by Delivery Model | On-Shore | 5.4% |
| Market Share by Country 2023 | Australia | 1.2% |
With increasing investments in digital technologies by companies to boost their product and processes, the demand for digital engineering services has risen tremendously in recent years. Digital engineering services enable companies to improve their product quality, reduce costs, improve accuracy, and better efficiency of operations, which contributes towards an increase in profit margins.
The offshore delivery of models of engineering services is garnering widespread appeal among corporates and businesses. Offshoring engineering services results in significant cost savings and enables round-the-clock assessment of projects, which drives productivity and efficiency. Moreover, it allows companies to focus on their core competencies while ensuring diversification of risk by operating in multiple locations. This is expected to drive the global engineering services market expansion and innovation in the coming years.
The aerospace and defence sector is expected to emerge as a leading end user of engineering services. This is because of the growing usage of automation-related services for manufacturing aircraft parts and military equipment. The high attention towards the design, strength, and quality of each component is driving the adoption of automated services in the sector, thereby propelling the global engineering services market growth.
Global Engineering Services Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Services
Market Breakup by Delivery Model
Market Breakup by Industry Vertical
Market Breakup by Region
| CAGR 2024-2032 - Market by | Country |
| India | 7.1% |
| Brazil | 5.2% |
| UK | 4.4% |
| USA | 3.9% |
| Japan | 3.7% |
| Canada | XX% |
| Germany | XX% |
| France | 3.4% |
| China | XX% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Mexico | XX% |
| Italy | 3.0% |
Major global engineering services market players are focusing on improving service delivery quality and catering to various companies' requirements to improve their product and process planning.
The key market players are STRABAG SE, AECOM, HCL Technologies Ltd., IBM Corporation, Capgemini SE, Infosys Limited, NV5 Global, Inc., Bechtel Corporation, Jones Lang LaSalle IP, Inc., and Kiewit Corporation, among others.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Services |
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| Breakup by Delivery Model |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market was valued at nearly USD 1168.70 billion in 2023.
The market is projected to grow at a CAGR of 4.8% between 2024 and 2032.
The market is assesses to witness a healthy growth in the forecast period to reach around USD 1782.19 billion in 2032.
The major delivery models of engineering services include off-shore and on-shore.
The different services considered in the market report are product engineering, process engineering, automation related services, and asset management related services.
The major industry verticals sing engineering services include aerospace and defence, automotive, chemical and petrochemical, utilities, mining, oil and gas, and healthcare, among others.
The major regions considered in the market report include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key market players are STRABAG SE, AECOM, HCL Technologies Ltd., IBM Corporation, Capgemini SE, Infosys Limited, NV5 Global, Inc., Bechtel Corporation, Jones Lang LaSalle IP, Inc., and Kiewit Corporation, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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