New York, NY 11 May 2021: The global engineering services outsourcing (ESO) market size was estimated to be at 402.4 billion in 2018 and is anticipated to grow at a CAGR of 21.0% from 2019 to 2026 according to a new report published by Polaris Market Research.

The report “Engineering Services Outsourcing Market Size, Share, Trends & Industry Analysis Report By Location Outlook (Onsite, Offshore); By Application Outlook (Automotive, Energy, Network & Communications, Industrial Automation, Medical Technology, Industrial Electronics and Automated Embedded Engineering Services, Consumer Electronics, Semiconductors, Construction, Aerospace); By Regions; Segment Forecast, 2019 – 2026” provides insights on the current market scenario and the future trends in this market.The major factors which are driving this market is the access to low cost highly skilled resources which can work towards complex tasks of not only designing and testing but also on validation, simulation and execution.

Companies are moving from business process outsourcing to knowledge process outsourcing and major industry verticals such as automotive, consumer electronics, semiconductors, aerospace and telecom are providing huge opportunities to the consulting companies.The traction of offshore outsourcing can be seen owing to the low cost and added capabilities from the service providers.

There are pureplay ESO service providers which are not only providing basic services but also, they are jointly investing with the companies to expand their businesses in growing markets and geographies.

Request For Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/engineering-services-outsourcing-market/request-for-sampleCompanies in North America and Europe are considered to spend more on these services however, Asia Pacific is the largest market for the ESO service providers.

The major restrains this market is facing is the intellectual property theft specifically during the offshore outsourcing.

Global Engineering Services Outsourcing Market (ESO) was valued US$ 190.43 Bn in 2017 and is expected to reach US$ 630 Bn by 2026, at a CAGR of 16.15% during a forecast period.

In terms of application, the global engineering services outsourcing (ESO) market is classified into aerospace, automotive, construction, consumer electronics, semiconductors, pharmaceuticals, telecom, and others.

The increased global competition has increased the need for cost reduction, among companies across several industries.

The market trend of companies outsourcing engineering services is anticipated to grow in the upcoming years, as offshore options are rising particularly in India for supporting cost-cutting efforts.

About Company Information-

Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

Automotive Transmission Engineering Services Outsourcing Market by Service Type (Designing, Prototyping, Testing, and System Engineering & Integration), Transmission Type (Automatic and Manual), Powertrain (Conventional and Hybrid), and by Region - Global Forecast to 2021, the global automotive transmission engineering services outsourcing market is estimated to be USD 9.81 Billion in 2016, and is projected to grow at a CAGR of 5.66% during the forecast period.

The base year for the study is 2015, and the forecast period is 2016 to 2021.Download our free PDF Brochure and gain crucial industry insights that will help your business grow:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203330367Designing to be the largest market, by service typeThe designing services segment is estimated to constitute the largest market, owing to the increasing demand for fuel-efficient vehicles and rising demand for better transmission among consumers.

Designing is the longest and most crucial phase in transmission development, and automotive OEMs are continuously developing new kinds of automotive transmission to adapt to changing consumer behavior.

Given the new government regulations related to emission norms and subsidies and tax rebates on hybrid cars, OEMs are also attempting to design advanced transmission that can meet these norms and adapt to the changing buying patterns of customers.Request for free Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=203330367Asia-Pacific to be the largest marketAsia-Pacific is projected to be the largest market for the outsourcing of transmission engineering services by 2021, due to the presence of growing economies such as China and India.

The sizeable populations in these counties has led to a rising demand for more advanced passenger cars in terms of smooth gear shifting; this would compel automotive OEMs to conduct more research on transmission.

The availability of low-cost labor, coupled with the increasing demand for hybrid vehicles, is set to drive the market for the outsourcing of transmission engineering services in this region.Request for sample:https://www.marketsandmarkets.com/requestsampleNew.asp?id=203330367Major market players, such as AVL (Austria), Ricardo Plc (U.K.), FEV GmbH (Germany), and IAV GmbH (Germany), have established R centers in this region to cater to the growing demand for transmission engineering services.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.

With growing costs and reduced margins, firms are increasingly turning to engineering and R services to speed up product development and achieve a competitive advantage.Engineers, on the other hand, face a difficult task in meeting the demands of managing product design development from concept to production.

You may be able to save time and money by outsourcing your engineering services.These outsourcing services not only bridge the gap between client demand and available resources, but they also assist organizations in meeting targets and deadlines.So, here are 5 processes that you must outsource for smarter engineering operations.1.

3D CAD Modeling and DraftingThe engineering procedure necessitates the creation of a computer-aided design (CAD) model of a concept.

These services include tasks such as assembling drawings, generating electronic plans, and making comprehensive illustrations with software, and converting to 3D or 2D formats.This is because a good CAD design takes time to create and requires knowledge of how to create a model that is realistic to actual manufacturing.Outsourcing to skilled individuals with a wide range of project experience ensures that they will be able to model your project completely.2.

Structural Simulation and AnalysisIt's critical to comprehend the type of setting in which your product will be employed.

As a result, you should test your product in a simulated environment.Making decisions necessitates simulation and analysis.

INDBIM wants to offer Architectural and Engineering services of international benchmarks to organizations around the entire world whereas keeping great degrees of client satisfaction and success.https://indbim.com/about.html