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(Wireless-NewsWire.Com, July 20, 2024 ) As per Maximize Market research, the Product Engineering Services Market was valued at USD 1037.42 Bn. in 2023. Product Engineering Services Market size is estimated to grow at a CAGR of 7.4%, reaching almost USD 1710.45 Bn. in 2030 over the forecast period.
According to the Maximize Market Research the Product Engineering Services Market is seeing significant growth due to increased consumer dependence on technology. Businesses are launching products faster to meet this demand. Key players in this market provide engineering solutions for various stages of a product's lifecycle. COVID-19 has driven the need for remote work and outsourcing which continues to support the Product Engineering Services Market.
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Technological advancements like AI and ML are enhancing product development leading to shorter time to Product Engineering Services Market. North America is expected to lead the product engineering services market by 2030 with a significant market share due to extensive use of advanced technologies. The Asia Pacific region is also anticipated to see rapid growth due to industrialization and adoption of technologies like IoT, AI, and ML.
Product Engineering Services Market Segmentation
by Type of Services
Software engineering
Hardware engineering
Process engineering
Others
by Industry
BFSI
IT & Telecom
Automotive
Industrial manufacturing
Energy & Utilities
Healthcare
Aerospace & defense
Others
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by Application
Customer Enterprise Products
Customer Mobile Products
by Organization size
Large Enterprises
SMEs
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Product Engineering Services Market Key Players:
IBM Corporation
Capgemini
Altran
ALTEN Group
AVL
Maximize Market Research is leading Information Technology & Telecommunication research firm, has also published the following reports:
Production Monitoring Market size reached USD 5.15 billion in 2023 and is expected to reach USD 9.23 billion by 2030, growing at a CAGR of 8.7 % during the forecast period.
Global Engineering R and D Services Outsourcing Market size is valued at USD 1.73 Tn. in 2023 and is projected to reach USD 3.41 Tn. at a CAGR of 11.33% during the forecasted period of 2024-2030.
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