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Technavio’s research analyst predicts the engineering services outsourcing (ESO) market in APAC to grow at a CAGR of close to 11% during the forecast period. With globalization, a number of companies are expanding their global reach by foraying into different regions with less mature markets. Market trends strongly indicate that customers in developing regions such as India and China would increase their expectation on the localization of products to meet their requirements accurately. Especially, in industries such as healthcare, consumers expect products designed according to local conditions. This need for product localization is driving the demand for ESO in these regions.
Despite the steadily growing market, protecting IP remains a major challenge for vendors in the market. Outsourcing-associated risks include theft, misuse of trade secrets, or loss of IP rights. ESO solution providers act as an interface between companies and clients. They play a significant role in shaping the future of engineering services by providing value-based services in addition to cost-effectiveness.
In 2015, the consumer electronics segment was the fastest growing industry catering to services provided by ESO vendors. Production of most consumer electronics devices requires engineering services at some point. ESO solutions include embedded software development, design and implementation, development and testing, system level architecture, and product development services.
While competing at the global level, companies across different industry verticals seek cost-effective solutions to increase their profit margins. Over the next four years, many global enterprises in this region will look to improve their capabilities by collaborating with IT services firms that specialize in engineering design. ESO vendors, particularly in India and China, are expected to align their current capabilities with new and advanced technologies to leverage this market opportunity.
The leading vendors in the market are -
Other prominent vendors in the market include KPIT, Altran, Aricent Group, Atos Origin, Beyondsoft, Capgemini, Clasoft Labs India, Computer Sciences Corporation, Cybage Software, GlobalLogic, HP, iGate, L&T ,MindTree, Mindfire Solutions, QuEST Global Services, Sonata Software, Symphony, Tech Mahindra, Tata ELXSI, and Vanceinfo Technologies.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Key leading countries
PART 06: Market landscape
PART 07: Market segmentation by end-user
PART 08: Market drivers
PART 09: Market challenges
PART 10: Impact of drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
PART 15: Explore Technavio
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