Engineering Services

Engineering Services

  • The worldwide engineering services market is predicted to increase at a compound annual growth rate (CAGR) of 12.9 percent from $830.48 billion in 2020 to $1167.21 billion in 2025.
  • The newest trend in the engineering services industry is the growing popularity and implementation of the Internet of Things (IoT) throughout the world.
  • Asia Pacific and the Middle East are predicted to be the fastest-growing markets for engineering services, design, animation, and graphic design.
  • Engineering services are being driven by increased demand for speeding TTM (Time To Market), the need for ongoing innovation and iteration, and the rising need to minimise manufacturing costs.