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According to a new study of Fact.MR, the global demand for product engineering services is envisaged to account for the revenues worth US$ 26 Bn by the end of 2019.

While gains will be particularly underpinned by the aggravating demand for shorter product life cycles, it is highly likely that myriad opportunities are underway for vendors of product engineering services, following the dramatic rise of new product launches across various industry verticals.

Software and product development and engineering services have garnered the center stage in IT and telecom sector in the recent past, according to the report.Request for the Report Summary: https://www.factmr.com/report/3756/product-engineering-services-marketThe Fact.MR study opines that though product engineering services are comparatively new for several small and medium businesses (SMBs), a considerably high number of businesses are already opting for outsourced product engineering services for enhanced operational efficiency.

Product engineering services providers help enterprises overcome ER challenges, such as high costs of ER tools, labs & infrastructure, and associated process & documentation requirements.

While the need for speed grows, a large number of verticals, such as IT and telecom and healthcare in particular are considerably outsourcing their product engineering needs.

Soaring demand for smarter consumer electronics, particularly in developed countries, is augmenting market value of product engineering services in regions, such as North America and Europe.The study indicates that product engineering services are likely to witness significant transformation on account of the rapidly expanding digital technologies.

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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.

The major players in the product engineering services market include IBM Corporation, Cognizant, Capgemini, Altran, ALTEN Group, AVL, HCL, AKKA Technologies, Wipro and Tata Consulting Services, among others.

This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Product Engineering Services Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/product-engineering-services-market/download-sampleMarket DynamicsRising sophisticated demand for manufacturers from various businesses and consumers globally, product companies are continuously re-engineering, developing the process of innovation, optimizing the process, and minimizing the cost involved in meeting up with the growing demands of the consumers.

These factors are projected to drive the market's growth trajectories over the forecast period.

Further, the growth of the industrial internet of things is also anticipated to help the market growth over the forecast period.

The industrial internet of things (IIOT) helps boost operational efficiency, enhance productivity and reduce the complexity of procedures involved in product engineering services.

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"Global Product Engineering Services Market" a new research report has announced by MarketsandMarkets to its offering.The new report "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",by MarketsandMarkets, the Product Engineering Services Market size is estimated 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%.Ask for Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227956689 Increasing demand for improved time to market, need for continuous innovation, and cost efficiency are some of the factors driving the Product Engineering Services Market.

Product and component design services segment is expected to hold the largest market share in the Product Engineering Services Market by service type during the forecast periodGrowing popularity of Industrial Internet of Things (IIoTs) is anticipated to have a positive impact on industry growth over the forecast period.

The growing need to drive cost efficiencies in the manufacturing stages is expected to fuel the market for product and component design services in the Product Engineering Services Market during the forecast period.The small and medium enterprises segment is expected to grow at the highest CAGR in the Product Engineering Services Market by organization size during the forecast period of 2016–2021A growing number of SMEs targeting R to increase the scope of growth are anticipated to drive the product engineering market in the coming years.

Growing competition is forcing the industry player to look for cost optimizing solutions and reduce the overall operational cost.

Product engineering services offer the benefit of cost reduction, enhanced customer experience, and improved time to market.Request Sample Pages of this report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=227956689 The APAC region is expected to hold the largest share of the Product Engineering Services Market by region due to rise in demand for organizing its huge workforceThe Asia-Pacific (APAC) region is expected to have major traction of product engineering services due to rise in demand for organizing the huge workforce in the region.

This region is also facing issues such as aging population, retiring baby boomers, and increasing number of multigenerational workforce, which needs to be managed and therefore product engineering services are in demand.The major vendors in the Product Engineering Services Market include Altran (France), ALTEN Group (France), AVL (Austria), HCL (India), AKKA Technologies (France), IBM Corporation (U.S.), and Capgemini (France).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.

In-depth study on Product Engineering Services Market by MarketsandMarkets™ provides broad analysis on the basis of growth, applications and key players which is useful for better decision making.According to a new market research report "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", published by MarketsandMarkets™, the Product Engineering Services Market estimated to grow from $ 676.17 Billion in 2016 to $ 1,003.12 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 8.2%.Browse in-depth TOC on "Product Engineering Services Market”62- Tables 45- Figures 131- PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227956689Increasing demand for improved time to market, need for continuous innovation, and cost efficiency are some of the factors driving the Product Engineering Services Market.

Product and component design services segment is expected to hold the largest market share in the Product Engineering Services Market by service type during the forecast periodGrowing popularity of Industrial Internet of Things (IIoTs) is anticipated to have a positive impact on industry growth over the forecast period.

The growing need to drive cost efficiencies in the manufacturing stages is expected to fuel the market for product and component design services in the Product Engineering Services Market during the forecast period.The small and medium enterprises segment expected to grow at the highest CAGR in the Product Engineering Services Market by organization size during the forecast period of 2016–2021A growing number of SMEs targeting R to increase the scope of growth are anticipated to drive the product engineering market in the coming years.

Growing competition is forcing the industry player to look for cost optimizing solutions and reduce the overall operational cost.

This region is also facing issues such as aging population, retiring baby boomers, and increasing number of multigenerational workforce, which needs to be managed and therefore product engineering services are in demand.Speak to Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=227956689The major vendors in the Product Engineering Services Market include Altran (France), ALTEN Group (France), AVL (Austria), HCL (India), AKKA Technologies (France), IBM Corporation (U.S.), and Capgemini (France).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.

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