製品エンジニアリングサービス市場 – 2030年までの世界予測

Product Engineering Services Market - Global Forecast To 2030

製品エンジニアリングサービス市場 - サービスタイプ(製品設計とプロトタイピング、製品開発、プロセスエンジニアリング、製品維持とサポートサービス、製品の近代化と統合、リバースエンジニアリング) - 2030年までの世界予測
Product Engineering Services Market by Service Type (Product Design & Prototyping, Product Development, Process Engineering, Product Sustenance & Support Services, Product Modernization & Integration, Reverse Engineering ) - Global Forecast to 2030

商品番号 : SMB-28502

出版社MarketsandMarkets
出版年月2025年7月
ページ数322
図表数276
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

この調査レポートでは、製品エンジニアリングサービス市場をサービスタイプ(製品設計とプロトタイピング[コンセプトとアイデア、UX/UIと工業デザイン、その他{MBSE、製造性設計(DFM)/テスト性設計(DFT)}]、製品開発[ソフトウェア製品開発、ハードウェアと組み込みシステム開発、プロトタイピングとMVP開発、統合とインターフェース開発]、テストと品質保証サービス[機能テストと非機能テスト、テスト自動化、コンプライアンスと認証、検証と検証(V&V)]、製品の近代化と統合[レガシーシステムの移行、プラットフォームの再プラットフォーム化、アーキテクチャの見直し、技術的負債の削減]、プロセスエンジニアリング[製造エンジニアリングサポート、ナレッジベースエンジニアリング]、メンテナンス、修理、運用]、リバースエンジニアリング[3Dスキャン、アプリケーションの近代化と移行、その他]、製品維持とサポートサービス[バグ修正とメンテナンス、パフォーマンスの最適化と監視、機能強化とアップグレード、セキュリティ更新とコンプライアンス、DevOpsとMLOpsのサポート])、提供モード(オンショア、オフショア、ニアショア、ハイブリッド)、組織規模(大企業、中小企業)、垂直(工業製造、自動車および輸送、ヘルスケアおよびライフサイエンス、航空宇宙および防衛、半導体およびエレクトロニクス、ITおよび通信、銀行、金融サービス、および保険(BFSI)、小売およびeコマース、エネルギーおよび公益事業、その他の垂直)、および地域(北米、ヨーロッパ、アジア太平洋、中東およびアフリカ、ラテンアメリカ)。レポートの範囲は、製品エンジニアリングサービス市場の成長に影響を与える推進要因、制約、課題、機会などの主要な要因に関する詳細な情報を網羅しています。

主要な業界プレーヤーを徹底的に分析することで、事業概要、ソリューション、サービス、主要戦略、契約、パートナーシップ、合意、新製品およびサービスの発売、合併および買収、および最近の製品エンジニアリングサービス市場の動向に関する洞察が得られました。このレポートでは、製品エンジニアリングサービス市場のエコシステムにおける今後の新興企業の競合分析も取り上げています。

The product engineering services market is expanding rapidly, with a projected market size rising from USD 1,297.71 billion in 2025 to USD 1,800.45 billion by 2030, at a CAGR of 6.8% during the forecast period. The key market drivers include the rapid growth of the automotive sector, which boosts demand for advanced product development and engineering capabilities. Another major driver is the increasing need to accelerate time-to-market, as companies seek to stay competitive in fast-paced industries by launching products more quickly. Additionally, there is a growing focus on product design to enhance customer experience, pushing organizations to invest in high-quality engineering services. In contrast, toolchain bloat and DevOps sprawl are the market’s major restraints. These challenges reduce team efficiency by creating complex, overlapping workflows and increasing the time and effort required for integration and maintenance.

製品(プロダクト)エンジニアリングサービス市場は急速に拡大しており、予測期間中の市場規模は2025年の1兆2,977億1,000万米ドルから2030年には1兆8,004億5,000万米ドルに拡大し、年平均成長率(CAGR)は6.8%と予測されています。主な市場牽引要因としては、高度な製品開発およびエンジニアリング能力に対する需要を押し上げる自動車分野の急速な成長が挙げられます。もう1つの大きな牽引要因は、企業が急速に変化する業界で競争力を維持するために、製品をより迅速に発売することを求めており、市場投入までの時間を短縮する必要性が高まることです。さらに、顧客体験を向上させるための製品設計への注目が高まっており、組織は高品質のエンジニアリングサービスに投資するよう促されています。対照的に、ツールチェーンの肥大化とDevOpsの無秩序な広がりが市場の主な制約となっています。これらの課題は、複雑で重複するワークフローを生み出し、統合と保守に必要な時間と労力を増加させることで、チームの効率を低下させます。

製品エンジニアリングサービス市場 - 2030年までの世界予測
product-engineering-services-market

“Small & medium enterprises are expected to grow at the highest CAGR during the forecast period”

Small & medium enterprises are set to drive the fastest market growth, propelled by their focus on speed, innovation, and cost-efficiency. In March 2025, American Express reported that SMEs adopting artificial intelligence are 38 percent more likely to invest in technology upgrades and new product launches. A June 2024 Zoho survey found that 81 percent of MSMEs in India allocate up to half their tech budgets to cloud solutions, reflecting a global shift toward cloud engineering and IoT-based development.

This creates a strong demand for embedded systems, rapid prototyping, and AI-integrated firmware services. By partnering with engineering service providers, SMEs gain access to specialized skills, reduce development cycles, and scale efficiently without heavy internal investment. As competition intensifies, outsourcing complex engineering tasks allows SMEs to stay agile and innovative. This opens lucrative opportunities for service providers to deliver modular, cloud-ready engineering solutions to a rapidly growing market segment.

“Industrial manufacturing is expected to hold the largest market share during the forecast period”

The industrial manufacturing sector is gaining sustained investment in digital transformation, automation, and next-generation product development. In March 2025, Johnson & Johnson announced a USD 55 billion investment strategy to advance its pharmaceutical and medical device manufacturing capabilities through digitalization, smart factory initiatives, and automation. Meanwhile, Taiwan Semiconductor Manufacturing Company committed USD 100 billion to expand its US-based fabrication and engineering operations to boost domestic chip production capacity, accelerate time-to-market for advanced semiconductors, and enhance supply chain resilience. At CES 2025, Siemens unveiled advanced digital twin and industrial artificial intelligence technologies to improve production efficiency.

These developments increase demand for embedded systems, system integration, and simulation-led engineering services. As manufacturers modernize legacy systems and scale operations, they rely on engineering partners for faster innovation, technical expertise, and operational agility. This growth presents strong opportunities for service providers to support industrial clients in reducing time-to-market, improving product reliability, and long-term competitiveness.

“North America holds the largest market share, while Asia Pacific records the fastest growth”

North America leads the product engineering services market, supported by its premier engineering infrastructure, innovation ecosystems, and significant investments in advanced product development. In June 2025, BASF opened a new Good Manufacturing Practice Solution Center in Michigan to enhance product development in biopharma, demonstrating how engineering services integrate manufacturing with lab-level design capabilities. Meanwhile, Asia Pacific is the fastest-growing region, driven by digital innovation, rising smart product demand, government-backed support for local engineering ecosystems, manufacturing hubs, and talent development across emerging economies.

Breakdown of Primaries

In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the product engineering services market.

  • By Company: Tier I – 40%, Tier II – 25%, and Tier III – 35%
  • By Designation: C-Level Executives – 25%, D-Level Executives –37%, and Others – 38%
  • By Region: North America – 38%, Europe – 24%, Asia Pacific – 22%, and Rest of the World – 16%

The report profiles key players offering product engineering services. These include IBM (US), HCL Tech (India), Cognizant (US), Capgemini (France), Alten Group (France), Accenture (Ireland), Wipro (India), LTIMindtree (India), AVL (Austria), Happiest Minds (India), TVSnext (US), Mphasis (India), Tech Mahindra (India), Cybage Software (India), Innominds (US), Infosys (India), SynergyTop (US), EPAM Systems (US), Brillio (US), GlobalLogic (US), Tata Consultancy Services (India), Nous Infosystems (India), Trigent Software (US), and Aspire Systems (India).

製品エンジニアリングサービス市場 - 2030年までの世界予測 ecosystem
product-engineering-services-market-ecosystem

Study Coverage

This research report categorizes the product engineering services market based on Service Type (Product Design & Prototyping [Concept & Ideation, UX/UI & Industrial Design, Others {MBSE, Design for Manufacturability (DFM)/Design for Testability (DFT)}], Product Development [Software Product Development, Hardware & Embedded Systems Development, Prototyping & MVP Development, Integration & Interface Development], Testing & Quality Assurance Services [Functional & Non-functional Testing, Test Automation, Compliance & Certification, Validation & Verification (V&V)], Product Modernization & Integration [Legacy System Migration, Platform Re-platforming, Architectural Overhaul, Technical Debt Reduction], Process Engineering [Manufacturing Engineering Support, Knowledge-based Engineering),  Maintenance, Repair & Operations], Reverse Engineering [3D Scanning, Application Modernization & Migration, Others], Product Sustenance & Support Services [Bug Fixing & Maintenance, Performance Optimization & Monitoring, Feature Enhancements & Upgrades, Security Updates & Compliance, DevOps & MLOps Support]), Delivery Mode (Onshore, Offshore, Nearshore, Hybrid), Organization Size (Large Enterprises, SMES), Vertical (Industrial Manufacturing,  Automotive & Transportation,  Healthcare & Life Sciences, Aerospace & Defense, Semiconductors & Electronics, IT & Telecom,  Banking, Financial Services, & Insurances (BFSI), Retail & Ecommerce, Energy & Utilities, Other Verticals), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). The report’s scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the product engineering services market. A thorough analysis of the key industry players provided insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements, new product & service launches, mergers and acquisitions; and recent product engineering services market developments. This report also covered the competitive analysis of upcoming startups in the product engineering services market ecosystem.

Benefits of Buying this Report

The report would provide market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall product engineering services market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It also helps stakeholders understand the market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights into the following pointers:

  • Market Dynamics: Key drivers (Automotive sector growth driving demand for product development services, increasing demand for accelerating TTM, Growing focus on product design to enhance customer experience), restraints (Toolchain Bloat and DevOps Sprawl reducing team efficiency), opportunities (Increase in number of innovative city projects, Legacy product modernization at scale, Growth of semiconductor and embedded system), and challenges (Lack of robust feedback loops and continuous management, Fragmented technology ecosystems)
  • Product Development/Innovation: Detailed insights into upcoming technologies, research & development activities, and new product & service launches in the product engineering services market
  • Market Development: Comprehensive information about lucrative markets – analysis of the product engineering services market across varied regions
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the product engineering services market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players such IBM (US), HCL Tech (India), Cognizant (US), Capgemini (France), Alten Group (France), Accenture (Ireland), Wipro (India), LTIMindtree (India), AVL (Austria), Happiest Minds (India), TVSnext (US), Mphasis (India), Tech Mahindra (India), Cybage Software (India), Innominds (US), Infosys (India), SynergyTop (US), EPAM Systems (US), Brillio (US), GlobalLogic (US), Tata Consultancy Services (India), Nous Infosystems (India), Trigent Software (US), and Aspire Systems (India)

The report also helps stakeholders understand the pulse of the product engineering services market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1               INTRODUCTION              28

1.1           STUDY OBJECTIVES       28

1.2           MARKET DEFINITION   28

1.2.1        INCLUSIONS AND EXCLUSIONS 28

1.3           MARKET SCOPE                30

1.3.1        MARKET SEGMENTATION           30

1.3.2        YEARS CONSIDERED      31

1.4           CURRENCY CONSIDERED            31

1.5           STAKEHOLDERS               32

1.6           SUMMARY OF CHANGES               32

2               RESEARCH METHODOLOGY       33

2.1           RESEARCH APPROACH  33

2.1.1        SECONDARY DATA          34

2.1.2        PRIMARY DATA 35

2.1.2.1    Breakup of primary profiles                35

2.1.2.2    Key industry insights           36

2.2           MARKET BREAKUP AND DATA TRIANGULATION                 37

2.3           MARKET SIZE ESTIMATION         38

2.3.1        TOP-DOWN APPROACH                39

2.3.2        BOTTOM-UP APPROACH              39

2.3.3        MARKET ESTIMATION APPROACHES     41

2.4           MARKET FORECAST       43

2.5           RESEARCH ASSUMPTIONS           44

2.6           RESEARCH LIMITATIONS             45

3               EXECUTIVE SUMMARY  46

4               PREMIUM INSIGHTS       51

4.1           ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN PRODUCT ENGINEERING SERVICES MARKET                51

4.2           PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2025 VS 2030         52

4.3           PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2025 VS 2030   52

4.4           PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025 VS 2030           53

4.5           PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2025 VS 2030 53

4.6           PRODUCT ENGINEERING SERVICES MARKET: REGIONAL SCENARIO    54

5               MARKET OVERVIEW AND INDUSTRY TRENDS    55

5.1           INTRODUCTION              55

5.2           MARKET DYNAMICS       55

5.2.1        DRIVERS               56

5.2.1.1    Demand for accelerated TTM            56

5.2.1.2    Need for continuous innovation and iteration 56

5.2.1.3    Automotive sector growth   56

5.2.1.4    Requirements for legacy application modernization       57

5.2.2        RESTRAINTS      57

5.2.2.1    Toolchain bloat and DevOps sprawl reducing team efficiency                 57

5.2.3        OPPORTUNITIES              58

5.2.3.1    Growing number of smart city projects             58

5.2.3.2    Increase in semiconductor and embedded systems         58

5.2.4        CHALLENGES    59

5.2.4.1    Lack of robust feedback loops and continuous management                 59

5.2.4.2    Fragmented technology ecosystems  59

5.3           CASE STUDY ANALYSIS 60

5.3.1        E-COMMERCE PLATFORM MODERNIZATION FOR LEADING ATHLEISURE BRAND 60

5.3.2        HOW SNACK EMPIRE STAYS VIBRANT    61

5.3.3        HIGH-PERFORMANCE DATA ARCHITECTURE FOR GLOBAL OPERATIONS  62

5.3.4        SOC PHYSICAL DESIGN IMPLEMENTATION IN TSMC 5NM FOR AMERICAN FABLESS SEMICONDUCTOR FIRM 63

5.3.5        SILICON & PLATFORM ENGINEERING FOR V2X SOC OF KEY AUTOMOTIVE SEMICONDUCTOR SOLUTIONS SUPPLIER                 64

5.4           ECOSYSTEM ANALYSIS  64

5.5           SUPPLY CHAIN ANALYSIS             66

5.6           PRICING ANALYSIS          69

5.6.1        AVERAGE SELLING PRICE OF SERVICE PROVIDERS, BY REGION                69

5.6.2        INDICATIVE PRICING ANALYSIS OF KEY PLAYERS, BY SERVICE               69

5.7           PATENT ANALYSIS          72

5.7.1        LIST OF MAJOR PATENTS             73

5.8           TECHNOLOGY ANALYSIS             75

5.8.1        KEY TECHNOLOGIES     75

5.8.1.1    Embedded systems               75

5.8.1.2    IoT engineering    75

5.8.1.3    Cloud-native product engineering     76

5.8.2        COMPLEMENTARY TECHNOLOGIES       76

5.8.2.1    AI/ML integration                76

5.8.2.2    5G & edge integration          76

5.8.3        ADJACENT TECHNOLOGIES       77

5.8.3.1    Digital twins          77

5.8.3.2    Robotics engineering            77

5.9           REGULATORY LANDSCAPE         78

5.9.1        REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             78

5.9.2        REGULATIONS, BY REGION         80

5.9.2.1    North America      80

5.9.2.2    Europe   81

5.9.2.3    Asia Pacific            82

5.9.2.4    Middle East & Africa            82

5.9.2.5    Latin America       82

5.9.3        REGULATORY IMPLICATIONS AND INDUSTRY STANDARDS      82

5.9.3.1    General Data Protection Regulation 83

5.9.3.2    SEC Rule 17a-4     83

5.9.3.3    ISO/IEC 27001     83

5.9.3.4    System and Organization Controls 2 Type II  83

5.9.3.5    Financial Industry Regulatory Authority           83

5.9.3.6    Freedom of Information Act               83

5.9.3.7    Health Insurance Portability and Accountability Act     84

5.10         PORTER’S FIVE FORCES ANALYSIS           84

5.10.1      THREAT OF NEW ENTRANTS      85

5.10.2      THREAT OF SUBSTITUTES          85

5.10.3      BARGAINING POWER OF SUPPLIERS       86

5.10.4      BARGAINING POWER OF BUYERS             86

5.10.5      INTENSITY OF COMPETITIVE RIVALRY 86

5.11         KEY STAKEHOLDERS AND BUYING CRITERIA     87

5.11.1      KEY STAKEHOLDERS IN BUYING PROCESS           87

5.11.2      BUYING CRITERIA           88

5.12         KEY CONFERENCES AND EVENTS, 2025–2026        89

5.13         TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            89

5.14         BUSINESS MODEL ANALYSIS      90

5.14.1      TIME AND MATERIAL (T&M) MODEL     90

5.14.2      FIXED PRICE MODEL      90

5.14.3      DEDICATED TEAM/OFFSHORE DEVELOPMENT CENTER (ODC) 91

5.14.4      OUTCOME-BASED MODEL          91

5.15         INVESTMENT AND FUNDING SCENARIO               91

5.16         IMPACT OF AI/GENERATIVE AI ON PRODUCT ENGINEERING SERVICES MARKET            92

5.16.1      CASE STUDY      94

5.16.1.1  GenAI-powered operations ensure seamless service for millions of subscribers        94

5.16.2      VENDOR INITIATIVE      94

5.16.2.1  Capgemini              94

5.16.2.2  EPAM Systems     95

5.17         IMPACT OF 2025 US TARIFF – PRODUCT ENGINEERING SERVICES MARKET          95

5.17.1      INTRODUCTION              95

5.17.1.1  Key tariff rates      96

5.17.1.2  Price impact analysis            96

5.18         IMPACT ON REGION      97

5.18.1      NORTH AMERICA             97

5.18.1.1  US           97

5.18.1.2  Canada   98

5.18.1.3  Mexico   98

5.18.2      EUROPE               98

5.18.2.1  Germany                 98

5.18.2.2  France    99

5.18.3      ASIA PACIFIC     99

5.18.3.1  China      99

5.18.3.2  India       100

5.18.3.3  Australia 100

6               PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE   101

6.1           INTRODUCTION              102

6.1.1        SERVICE TYPE: PRODUCT ENGINEERING SERVICES MARKET DRIVERS            102

6.2           PRODUCT DESIGN & PROTOTYPING      103

6.2.1        STRUCTURING EARLY-STAGE DEVELOPMENT THROUGH PRODUCT DESIGN AND PROTOTYPING        103

6.2.2        CONCEPT & IDEATION 104

6.2.3        UX/UI & INDUSTRIAL DESIGN   105

6.2.4        OTHERS (MBSE, DESIGN FOR MANUFACTURABILITY (DFM)/DESIGN FOR TESTABILITY (DFT))             105

6.3           PRODUCT DEVELOPMENT          106

6.3.1        ACCELERATING TIME-TO-MARKET THROUGH INTEGRATED ENGINEERING SOLUTIONS             106

6.3.2        SOFTWARE PRODUCT DEVELOPMENT 107

6.3.3        HARDWARE & EMBEDDED SYSTEMS DEVELOPMENT                 107

6.3.4        PROTOTYPING & MVP DEVELOPMENT 108

6.3.5        INTEGRATION & INTERFACE DEVELOPMENT    108

6.4           TESTING & QUALITY ASSURANCE (QA) 109

6.4.1        ENSURING PRODUCT RELIABILITY THROUGH COMPREHENSIVE QUALITY VALIDATION            109

6.4.2        FUNCTIONAL & NON-FUNCTIONAL TESTING    110

6.4.3        TEST AUTOMATION       111

6.4.4        COMPLIANCE & CERTIFICATION              111

6.4.5        VALIDATION & VERIFICATION (V&V)     112

6.5           PRODUCT MODERNIZATION & INTEGRATION  112

6.5.1        TRANSFORMING LEGACY PRODUCTS INTO FUTURE-READY SOLUTIONS        112

6.5.2        LEGACY SYSTEM MIGRATION    113

6.5.3        PLATFORM RE-PLATFORMING  114

6.5.4        ARCHITECTURAL OVERHAUL    114

6.5.5        TECHNICAL DEBT REDUCTION                 114

6.6           PROCESS ENGINEERING               115

6.6.1        OPTIMIZING MANUFACTURING EFFICIENCY THROUGH SYSTEMATIC PROCESS INNOVATION     115

6.6.2        MANUFACTURING ENGINEERING SUPPORT       116

6.6.3        KBE (KNOWLEDGE-BASED ENGINEERING)          116

6.6.4        MAINTENANCE, REPAIR & OPERATIONS (MRO) 117

6.7           REVERSE ENGINEERING               117

6.7.1        COMPREHENSIVE COMPONENT ANALYSIS AND RECREATION     117

6.7.2        3D SCANNING   118

6.7.3        APPLICATION MODERNIZATION & MIGRATION                 119

6.7.4        OTHERS                119

6.8           PRODUCT SUSTENANCE & SUPPORT     119

6.8.1        ENSURING LONG-TERM PRODUCT VALUE THROUGH SUSTENANCE AND SUPPORT     119

6.8.2        BUG FIXING & MAINTENANCE   121

6.8.3        PERFORMANCE OPTIMIZATION & MONITORING                 121

6.8.4        FEATURE ENHANCEMENTS & UPGRADES             121

6.8.5        SECURITY UPDATES & COMPLIANCE     122

6.8.6        DEVOPS & MLOPS SUPPORT       122

7               PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE              123

7.1           INTRODUCTION              124

7.1.1        DELIVERY MODE: PRODUCT ENGINEERING SERVICES MARKET DRIVERS            124

7.2           ONSHORE            125

7.2.1        MAXIMIZING PES VALUE THROUGH STRATEGIC ONSHORE DELIVERY EXCELLENCE          125

7.3           OFFSHORE          126

7.3.1        SCALING GLOBAL EXECUTION WITH OFFSHORE ENGINEERING HUBS      126

7.4           NEARSHORE       128

7.4.1        BALANCING COST AND COLLABORATION WITH NEARSHORE ENGINEERING DELIVERY  128

7.5           HYBRID                129

7.5.1        MAXIMIZING DELIVERY FLEXIBILITY THROUGH HYBRID ENGINEERING MODELS               129

8               PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE     131

8.1           INTRODUCTION              132

8.1.1        ORGANIZATION SIZE: PRODUCT ENGINEERING SERVICES MARKET DRIVERS       132

8.2           LARGE ENTERPRISES     133

8.2.1        EMPOWERING COMPLEX ENGINEERING PROGRAMS FOR LARGE ENTERPRISES            133

8.3           SMES     134

8.3.1        ACCELERATING AGILE INNOVATION FOR SMES IN PRODUCT ENGINEERING             134

9               PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL            136

9.1           INTRODUCTION              137

9.1.1        VERTICAL: PRODUCT ENGINEERING SERVICES MARKET DRIVERS               137

9.2           INDUSTRIAL MANUFACTURING                139

9.2.1        DRIVING OPERATIONAL EFFICIENCY AND SMART INNOVATION IN INDUSTRIAL MANUFACTURING             139

9.2.2        INDUSTRIAL MANUFACTURING: USE CASES       140

9.2.2.1    Industry 4.0           140

9.2.2.2    IoT for smart factories         140

9.2.2.3    Digital twins          140

9.2.2.4    Others (PLC & HMI development, predictive maintenance solutions)               141

9.3           AUTOMOTIVE & TRANSPORTATION      141

9.3.1        ELECTRIFICATION AND SMART MOBILITY SOLUTIONS FOR SUSTAINABLE TRANSPORTATION 141

9.3.2        AUTOMOTIVE & TRANSPORTATION: USE CASES                 142

9.3.2.1    Connected cars     142

9.3.2.2    ADAS     143

9.3.2.3    Infotainment          143

9.3.2.4    Others (Battery management systems (BMS), Over-the-Air (OTA) updates, vehicle diagnostics & telematics)          143

9.4           HEALTHCARE & LIFE SCIENCES 143

9.4.1        ENABLING INTELLIGENT, COMPLIANT HEALTHCARE SYSTEMS              143

9.4.2        HEALTHCARE & LIFE SCIENCES: USE CASES         145

9.4.2.1    Medical devices    145

9.4.2.2    E-health platforms                145

9.4.2.3    Telemedicine         145

9.4.2.4    Others (remote monitoring, workflow automation)        146

9.5           AEROSPACE & DEFENSE                146

9.5.1        PRECISION ENGINEERING FOR HIGH-STAKES AEROSPACE & DEFENSE SYSTEMS            146

9.5.2        AEROSPACE & DEFENSE: USE CASES       147

9.5.2.1    Avionics 147

9.5.2.2    Defense systems   148

9.5.2.3    Simulation and training       148

9.5.2.4    Others (UAS development, satellite communication systems)                 148

9.6           SEMICONDUCTOR & ELECTRONICS        148

9.6.1        ENABLING SMARTER, FASTER, HIGH-DENSITY ELECTRONICS   148

9.6.2        SEMICONDUCTOR & ELECTRONICS: USE CASES                 150

9.6.2.1    Chip design & development                150

9.6.2.2    Embedded systems & firmware engineering    150

9.6.2.3    Testing & validation (DFT, DFM, DFT)         150

9.6.2.4    Others (hardware board design, EDA toolchain automation, smart device engineering)   150

9.7           IT & TELECOM  151

9.7.1        ENGINEERING INTELLIGENT CONNECTIVITY FOR DIGITAL ERA     151

9.7.2        IT & TELECOM: USE CASES          152

9.7.2.1    Network function virtualization (NFV) & SDN product development          152

9.7.2.2    5G infrastructure enablement             152

9.7.2.3    Others (OSS/BSS platform modernization, cloud-native SaaS platform development, telecom hardware & embedded systems design)                 153

9.8           BFSI       153

9.8.1        BUILDING SECURE AND SCALABLE PLATFORMS FOR FINANCIAL OPERATIONS             153

9.8.2        BFSI: USE CASES                154

9.8.2.1    Fintech solutions  154

9.8.2.2    Digital banking     155

9.8.2.3    Trading platforms 155

9.8.2.4    Others (Insurtech, Regtech tools)     155

9.9           RETAIL & E-COMMERCE                156

9.9.1        PRODUCT ENGINEERING FOR SEAMLESS RETAIL JOURNEYS           156

9.9.2        RETAIL & E-COMMERCE: USE CASES       157

9.9.2.1    Digital commerce platforms                157

9.9.2.2    Personalized shopping experiences   157

9.9.2.3    Others (Retail analytics, in-store automation)                 158

9.10         ENERGY & UTILITIES     158

9.10.1      ENGINEERING RESILIENT AND INTELLIGENT ENERGY & UTILITY SYSTEMS FOR MODERN GRIDS                158

9.10.2      ENERGY & UTILITIES: USE CASES              159

9.10.2.1  Smart grid solutions             159

9.10.2.2  Scada systems engineering  160

9.10.2.3  Others (renewable energy management platforms, field service & mobility solutions)                160

9.11         OTHER VERTICALS         160

10            PRODUCT ENGINEERING SERVICES MARKET, BY REGION                162

10.1         INTRODUCTION              163

10.2         NORTH AMERICA             164

10.2.1      NORTH AMERICA: MARKET DRIVERS     164

10.2.2      NORTH AMERICA: MACROECONOMIC OUTLOOK                 165

10.2.3      US           169

10.2.3.1  Enhancing engineering precision and speed with generative AI                 169

10.2.4      CANADA               170

10.2.4.1  Government-funded network to drive market 170

10.3         EUROPE               171

10.3.1      EUROPE: MARKET DRIVERS        171

10.3.2      EUROPE: MACROECONOMIC OUTLOOK               171

10.3.3      UK          175

10.3.3.1  Use of 5G to increase factory output to advance Industry 4.0                 175

10.3.4      GERMANY           176

10.3.4.1  Mittelstand-Digital Initiative creating networks between stakeholders           176

10.3.5      FRANCE                177

10.3.5.1  Major producer of professional electronics      177

10.3.6      ITALY    178

10.3.6.1  Leveraging public R&D investments to drive engineering innovation              178

10.3.7      REST OF EUROPE             178

10.4         ASIA PACIFIC     179

10.4.1      ASIA PACIFIC: MARKET DRIVERS               180

10.4.2      ASIA PACIFIC: MACROECONOMIC OUTLOOK     180

10.4.3      CHINA  185

10.4.3.1  NEV revolutionizing product engineering        185

10.4.4      JAPAN   185

10.4.4.1  Prominent manufacturing sector and auto parts suppliers                 185

10.4.5      INDIA    187

10.4.5.1  Accelerating product engineering growth with innovation and government support             187

10.4.6      REST OF ASIA PACIFIC   187

10.5         MIDDLE EAST & AFRICA                188

10.5.1      MIDDLE EAST & AFRICA: MARKET DRIVERS        189

10.5.2      MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK                 189

10.5.3      GULF COOPERATION COUNCIL (GCC)  193

10.5.3.1  UAE        195

10.5.3.1.1                Rising popularity of SCADA in construction industry                 195

10.5.3.2  Saudi Arabia          196

10.5.3.2.1                Strong economy to drive technology manufacturing growth    196

10.5.3.3  Rest of GCC          197

10.5.3.3.1                Unlocking regional potential with agile product development          197

10.5.4      SOUTH AFRICA 198

10.5.4.1  Resurgence of tech workforce and push for industrial innovation                 198

10.5.5      REST OF MIDDLE EAST & AFRICA             198

10.6         LATIN AMERICA                199

10.6.1      LATIN AMERICA: MARKET DRIVERS        199

10.6.2      LATIN AMERICA: MACROECONOMIC OUTLOOK                 200

10.6.3      BRAZIL 204

10.6.3.1  Elevating product engineering through innovation in aerospace and maritime         204

10.6.4      MEXICO                205

10.6.4.1  Rising investment in R&D and technology-driven manufacturing                 205

10.6.5      REST OF LATIN AMERICA             206

11            COMPETITIVE LANDSCAPE         207

11.1         INTRODUCTION              207

11.2         KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022–2025                 207

11.3         MARKET SHARE ANALYSIS, 2024                 208

11.4         REVENUE ANALYSIS, 2020–2024  210

11.5         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 212

11.5.1      STARS   213

11.5.2      EMERGING LEADERS     213

11.5.3      PERVASIVE PLAYERS      213

11.5.4      PARTICIPANTS 213

11.5.5      COMPANY FOOTPRINT: KEY PLAYERS, 2024         215

11.5.5.1  Company footprint               215

11.5.5.2  Region footprint   215

11.5.5.3  Service type footprint           216

11.5.5.4  Vertical footprint  217

11.6         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024        217

11.6.1      PROGRESSIVE COMPANIES         218

11.6.2      RESPONSIVE COMPANIES            218

11.6.3      DYNAMIC COMPANIES  218

11.6.4      STARTING BLOCKS         218

11.6.5      COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024                 220

11.6.5.1  Detailed list of key startups/SMEs    220

11.6.5.2  Competitive benchmarking of startups/SMEs 221

11.7         COMPANY VALUATION AND FINANCIAL METRICS                 221

11.7.1      COMPANY VALUATION 221

11.7.2      FINANCIAL METRICS      222

11.8         BRAND/PRODUCT COMPARISON             223

11.8.1      IBM (PRODUCT DESIGN & ENGINEERING SERVICES)                 223

11.8.2      HCL TECHNOLOGIES (PRODUCT ENGINEERING SERVICES)           223

11.8.3      COGNIZANT (SOFTWARE ENGINEERING SERVICES)                 224

11.8.4      CAPGEMINI (SOFTWARE PRODUCT ENGINEERING)                 224

11.8.5      ALTEN GROUP (SOFTWARE ENGINEERING SERVICES)                 224

11.9         COMPETITIVE SCENARIO             224

11.9.1      PRODUCT LAUNCHES AND ENHANCEMENT      224

11.9.2      DEALS  226

12            COMPANY PROFILES      236

12.1         INTRODUCTION              236

12.2         MAJOR PLAYERS               236

12.2.1      ACCENTURE      236

12.2.1.1  Business overview 236

12.2.1.2  Products/Solutions/Services offered 237

12.2.1.3  Recent developments           238

12.2.1.3.1                Deals      238

12.2.1.4  MnM view              240

12.2.1.4.1                Right to win           240

12.2.1.4.2                Strategic choices   240

12.2.1.4.3                Weaknesses and competitive threats 241

12.2.2      CAPGEMINI        242

12.2.2.1  Business overview 242

12.2.2.2  Products/Solutions/Services offered 243

12.2.2.3  Recent developments           245

12.2.2.3.1                Product launches and enhancements                 245

12.2.2.3.2                Deals      245

12.2.2.3.3                Expansions             246

12.2.2.4  MnM view              246

12.2.2.4.1                Right to win           246

12.2.2.4.2                Strategic choices   246

12.2.2.4.3                Weaknesses and competitive threats 247

12.2.3      TCS        248

12.2.3.1  Business overview 248

12.2.3.2  Products/Solutions/Services offered 249

12.2.3.3  Recent developments           250

12.2.3.3.1                Product launches and enhancements                 250

12.2.3.3.2                Deals      250

12.2.3.4  MnM view              251

12.2.3.4.1                Right to win           251

12.2.3.4.2                Strategic choices   251

12.2.3.4.3                Weaknesses and competitive threats 251

12.2.4      COGNIZANT      252

12.2.4.1  Business overview 252

12.2.4.2  Products/Solutions/Services offered 253

12.2.4.3  Recent developments           255

12.2.4.3.1                Product launches and enhancements                 255

12.2.4.3.2                Deals      255

12.2.4.4  MnM view              256

12.2.4.4.1                Right to win           256

12.2.4.4.2                Strategic choices   257

12.2.4.4.3                Weaknesses and competitive threats 257

12.2.5      HCL TECHNOLOGIES     258

12.2.5.1  Business overview 258

12.2.5.2  Products/Solutions/Services offered 259

12.2.5.3  Recent developments           261

12.2.5.3.1                Product launches and enhancements                 261

12.2.5.3.2                Deals      262

12.2.5.4  MnM view              263

12.2.5.4.1                Right to win           263

12.2.5.4.2                Strategic choices   263

12.2.5.4.3                Weaknesses and competitive threats 263

12.2.6      IBM        264

12.2.6.1  Business overview 264

12.2.6.2  Products/Solutions/Services offered 265

12.2.6.3  Recent developments           266

12.2.6.3.1                Product launches and enhancements                 266

12.2.6.3.2                Deals      267

12.2.7      WIPRO  268

12.2.7.1  Business overview 268

12.2.7.2  Products/Solutions/Services offered 269

12.2.7.3  Recent developments           271

12.2.7.3.1                Deals      271

12.2.7.3.2                Expansions             271

12.2.8      ALTEN GROUP  272

12.2.8.1  Business overview 272

12.2.8.2  Products/Solutions/Services offered 273

12.2.8.3  Recent developments           274

12.2.8.3.1                Deals      274

12.2.9      LTIMINDTREE  276

12.2.9.1  Business overview 276

12.2.9.2  Products/Solutions/Services offered 277

12.2.9.3  Recent developments           279

12.2.9.3.1                Product launches and enhancements                 279

12.2.9.3.2                Deals      279

12.2.9.3.3                Expansions             280

12.2.10   AVL        281

12.2.10.1                 Business overview 281

12.2.10.2                 Products/Solutions/Services offered 281

12.2.10.3                 Recent developments           282

12.2.10.3.1             Deals      282

12.3         OTHER PLAYERS              284

12.3.1      HAPPIEST MINDS             284

12.3.2      NEST DIGITAL  285

12.3.3      TVS NEXT            286

12.3.4      MPHASIS              287

12.3.5      NOUS INFOSYSTEMS      288

12.3.6      EPAM SYSTEMS 289

12.3.7      TECH MAHINDRA            290

12.3.8      TRIGENT SOFTWARE     291

12.3.9      SEGULA TECHNOLOGIES             291

12.3.10   SYSVINE TECHNOLOGIES            292

12.3.11   ASPIRE SYSTEMS              293

12.3.12   BRILLIO                294

12.3.13   CYBAGE                294

12.3.14   GLOBALLOGIC 295

12.3.15   GLOBANT            296

12.3.16   HARMAN              297

12.3.17   INNOMINDS       298

12.3.18   PERSISTENT SYSTEMS   299

12.3.19   SONATA SOFTWARE       300

12.3.20   UST        301

12.3.21   TO THE NEW     302

12.3.22   INFOSYS               303

12.3.23   DAFFODIL SOFTWARE  304

12.3.24   BLUE COPPER TECHNOLOGIES 305

12.3.25   SYNERGYTOP    306

12.3.26   THOUGHT&FUNCTION 307

13            ADJACENT/RELATED MARKETS                308

13.1         INTRODUCTION              308

13.1.1      RELATED MARKETS        308

13.1.2      LIMITATIONS    308

13.2         SIMULATION SOFTWARE MARKET           308

13.3         IOT ENGINEERING SERVICES MARKET   310

14            APPENDIX           312

14.1         DISCUSSION GUIDE        312

14.2         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                318

14.3         CUSTOMIZATION OPTIONS        320

14.4         RELATED REPORTS         320

14.5         AUTHOR DETAILS           321

LIST OF TABLES

TABLE 1                USD EXCHANGE RATES, 2019–2024            31

TABLE 2                FACTOR ANALYSIS          43

TABLE 3                PRODUCT ENGINEERING SERVICES MARKET SIZE AND GROWTH,

2020–2024 (USD BILLION, YOY GROWTH %)         47

TABLE 4                PRODUCT ENGINEERING SERVICES MARKET SIZE AND GROWTH,

2025–2030 (USD BILLION, YOY GROWTH %)         47

TABLE 5                ROLE OF COMPANIES IN ECOSYSTEM    65

TABLE 6                INDICATIVE PRICING ANALYSIS OF KEY PLAYERS, BY SERVICE, 2025          70

TABLE 7                LIST OF MAJOR PATENTS, 2015–2024        73

TABLE 8                NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  78

TABLE 9                EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS           78

TABLE 10              ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 79

TABLE 11              REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 79

TABLE 12              PRODUCT ENGINEERING SERVICES MARKET: PORTER’S FIVE FORCES ANALYSIS           84

TABLE 13              INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS   87

TABLE 14              KEY BUYING CRITERIA FOR TOP THREE VERTICALS         88

TABLE 15              PRODUCT ENGINEERING SERVICES MARKET: KEY CONFERENCES AND EVENTS, 2025–2026        89

TABLE 16              US ADJUSTED RECIPROCAL TARIFF RATES                 96

TABLE 17              EXPECTED CHANGE IN PRICES AND THE LIKELY IMPACT ON PRODUCT ENGINEERING SERVICES MARKET DUE TO TARIFF          97

TABLE 18              PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE,

2020–2024 (USD BILLION)             103

TABLE 19              PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE,

2025–2030 (USD BILLION)             103

TABLE 20              PRODUCT DESIGN & PROTOTYPING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)             104

TABLE 21              PRODUCT DESIGN & PROTOTYPING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)             104

TABLE 22              PRODUCT DEVELOPMENT: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2020–2024 (USD BILLION)    106

TABLE 23              PRODUCT DEVELOPMENT: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2025–2030 (USD BILLION)    107

TABLE 24              TESTING & QUALITY ASSURANCE (QA): PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)        110

TABLE 25              TESTING & QUALITY ASSURANCE (QA): PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)        110

TABLE 26              PRODUCT MODERNIZATION & INTEGRATION: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)        113

TABLE 27              PRODUCT MODERNIZATION & INTEGRATION: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)        113

TABLE 28              PROCESS ENGINEERING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)             115

TABLE 29              PROCESS ENGINEERING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)             116

TABLE 30              REVERSE ENGINEERING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)             118

TABLE 31              REVERSE ENGINEERING: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)             118

TABLE 32              PRODUCT SUSTENANCE & SUPPORT: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)        120

TABLE 33              PRODUCT SUSTENANCE & SUPPORT: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)        120

TABLE 34              PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE,

2020–2024 (USD BILLION)             125

TABLE 35              PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE,

2025–2030 (USD BILLION)             125

TABLE 36              ONSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2020–2024 (USD BILLION)             126

TABLE 37              ONSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2025–2030 (USD BILLION)             126

TABLE 38              OFFSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2020–2024 (USD BILLION)             127

TABLE 39              OFFSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2025–2030 (USD BILLION)             127

TABLE 40              NEARSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2020–2024 (USD BILLION)             128

TABLE 41              NEARSHORE: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2025–2030 (USD BILLION)             129

TABLE 42              HYBRID: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2020–2024 (USD BILLION)             130

TABLE 43              HYBRID: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2025–2030 (USD BILLION)             130

TABLE 44              PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE,

2020–2024 (USD BILLION)             133

TABLE 45              PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE,

2025–2030 (USD BILLION)             133

TABLE 46              LARGE ENTERPRISES: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2020–2024 (USD BILLION)    134

TABLE 47              LARGE ENTERPRISES: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2025–2030 (USD BILLION)    134

TABLE 48              SMES: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2020–2024 (USD BILLION)             135

TABLE 49              SMES: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2025–2030 (USD BILLION)             135

TABLE 50              PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL,

2020–2024 (USD BILLION)             138

TABLE 51              PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL,

2025–2030 (USD BILLION)             138

TABLE 52              INDUSTRIAL MANUFACTURING: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2020–2024 (USD BILLION)    139

TABLE 53              INDUSTRIAL MANUFACTURING: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2025–2030 (USD BILLION)    140

TABLE 54              AUTOMOTIVE & TRANSPORTATION: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)             142

TABLE 55              AUTOMOTIVE & TRANSPORTATION: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)             142

TABLE 56              HEALTHCARE & LIFE SCIENCES: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2020–2024 (USD BILLION)    144

TABLE 57              HEALTHCARE & LIFE SCIENCES: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2025–2030 (USD BILLION)    144

TABLE 58              AEROSPACE & DEFENSE: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2020–2024 (USD BILLION)    147

TABLE 59              AEROSPACE & DEFENSE: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2025–2030 (USD BILLION)    147

TABLE 60              SEMICONDUCTOR & ELECTRONICS: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2020–2024 (USD BILLION)             149

TABLE 61              SEMICONDUCTOR & ELECTRONICS: PRODUCT ENGINEERING SERVICES MARKET, BY REGION, 2025–2030 (USD BILLION)             149

TABLE 62              IT & TELECOM: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2020–2024 (USD BILLION)             151

TABLE 63              IT & TELECOM: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2025–2030 (USD BILLION)             152

TABLE 64              BFSI: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2020–2024 (USD BILLION)             154

TABLE 65              BFSI: PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2025–2030 (USD BILLION)             154

TABLE 66              RETAIL & E-COMMERCE: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2020–2024 (USD BILLION)    156

TABLE 67              RETAIL & E-COMMERCE: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2025–2030 (USD BILLION)    157

TABLE 68              ENERGY & UTILITIES: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2020–2024 (USD BILLION)    159

TABLE 69              ENERGY & UTILITIES: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2025–2030 (USD BILLION)    159

TABLE 70              OTHER VERTICALS: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2020–2024 (USD BILLION)    161

TABLE 71              OTHER VERTICALS: PRODUCT ENGINEERING SERVICES MARKET,

BY REGION, 2025–2030 (USD BILLION)    161

TABLE 72              PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2020–2024 (USD BILLION)             163

TABLE 73              PRODUCT ENGINEERING SERVICES MARKET, BY REGION,

2025–2030 (USD BILLION)             164

TABLE 74              NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2020–2024 (USD BILLION)                 166

TABLE 75              NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2025–2030 (USD BILLION)                 166

TABLE 76              NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2020–2024 (USD BILLION)             166

TABLE 77              NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2025–2030 (USD BILLION)             167

TABLE 78              NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)             167

TABLE 79              NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)             167

TABLE 80              NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2020–2024 (USD BILLION)                 168

TABLE 81              NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2025–2030 (USD BILLION)                 168

TABLE 82              NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2020–2024 (USD BILLION)                 169

TABLE 83              NORTH AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2025–2030 (USD BILLION)                 169

TABLE 84              US: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE,

2020–2024 (USD BILLION)             170

TABLE 85              US: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE,

2025–2030 (USD BILLION)             170

TABLE 86              CANADA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)                 170

TABLE 87              CANADA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)                 171

TABLE 88              EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE,

2020–2024 (USD BILLION)             172

TABLE 89              EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE,

2025–2030 (USD BILLION)             172

TABLE 90              EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE,

2020–2024 (USD BILLION)             173

TABLE 91              EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE,

2025–2030 (USD BILLION)             173

TABLE 92              EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)                 173

TABLE 93              EUROPE: PRODUCT ENGINEERING MARKET, BY ORGANIZATION SIZE,

2025–2030 (USD BILLION)             173

TABLE 94              EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL,

2020–2024 (USD BILLION)             174

TABLE 95              EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL,

2025–2030 (USD BILLION)             174

TABLE 96              EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY,

2020–2024 (USD BILLION)             175

TABLE 97              EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY,

2025–2030 (USD BILLION)             175

TABLE 98              UK: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE,

2020–2024 (USD BILLION)             176

TABLE 99              UK: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE,

2025–2030 (USD BILLION)             176

TABLE 100            GERMANY: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)                 176

TABLE 101            GERMANY: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)                 177

TABLE 102            FRANCE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)                 177

TABLE 103            FRANCE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)                 177

TABLE 104            ITALY: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)                 178

TABLE 105            ITALY: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)                 178

TABLE 106            REST OF EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)             179

TABLE 107            REST OF EUROPE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)             179

TABLE 108            ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2020–2024 (USD BILLION)                 181

TABLE 109            ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2025–2030 (USD BILLION)                 182

TABLE 110            ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2020–2024 (USD BILLION)             182

TABLE 111            ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2025–2030 (USD BILLION)             182

TABLE 112            ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)             183

TABLE 113            ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)             183

TABLE 114            ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL,

2020–2024 (USD BILLION)             183

TABLE 115            ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL,

2025–2030 (USD BILLION)             184

TABLE 116            ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY,

2020–2024 (USD BILLION)             184

TABLE 117            ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY,

2025–2030 (USD BILLION)             184

TABLE 118            CHINA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)                 185

TABLE 119            CHINA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)                 185

TABLE 120            JAPAN: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)                 186

TABLE 121            JAPAN: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)                 186

TABLE 122            INDIA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)                 187

TABLE 123            INDIA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)                 187

TABLE 124            REST OF ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET,

BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)          188

TABLE 125            REST OF ASIA PACIFIC: PRODUCT ENGINEERING SERVICES MARKET,

BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)          188

TABLE 126            MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY SERVICE TYPE, 2020–2024 (USD BILLION)       190

TABLE 127            MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY SERVICE TYPE, 2025–2030 (USD BILLION)       190

TABLE 128            MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY DELIVERY MODE, 2020–2024 (USD BILLION) 191

TABLE 129            MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY DELIVERY MODE, 2025–2030 (USD BILLION) 191

TABLE 130            MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)          191

TABLE 131            MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)          191

TABLE 132            MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY VERTICAL, 2020–2024 (USD BILLION)                192

TABLE 133            MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY VERTICAL, 2025–2030 (USD BILLION)                192

TABLE 134            MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY COUNTRY, 2020–2024 (USD BILLION)                193

TABLE 135            MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY COUNTRY, 2025–2030 (USD BILLION)                193

TABLE 136            GCC: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY,

2020–2024 (USD BILLION)             194

TABLE 137            GCC: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY,

2025–2030 (USD BILLION)             194

TABLE 138            GCC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE,

2020–2024 (USD BILLION)             194

TABLE 139            GCC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE,

2025–2030 (USD BILLION)             194

TABLE 140            UAE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE,

2020–2024 (USD BILLION)             195

TABLE 141            UAE: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE,

2025–2030 (USD BILLION)             196

TABLE 142            SAUDI ARABIA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)             196

TABLE 143            SAUDI ARABIA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)             197

TABLE 144            REST OF GCC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)             197

TABLE 145            REST OF GCC: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)             197

TABLE 146            SOUTH AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)             198

TABLE 147            SOUTH AFRICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)             198

TABLE 148            REST OF MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)          199

TABLE 149            REST OF MIDDLE EAST & AFRICA: PRODUCT ENGINEERING SERVICES MARKET,

BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)          199

TABLE 150            LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2020–2024 (USD BILLION)                 200

TABLE 151            LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY SERVICE TYPE, 2025–2030 (USD BILLION)                 201

TABLE 152            LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2020–2024 (USD BILLION)             201

TABLE 153            LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY DELIVERY MODE, 2025–2030 (USD BILLION)             201

TABLE 154            LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)             202

TABLE 155            LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)             202

TABLE 156            LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2020–2024 (USD BILLION)                 202

TABLE 157            LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY VERTICAL, 2025–2030 (USD BILLION)                 203

TABLE 158            LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2020–2024 (USD BILLION)                 203

TABLE 159            LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET, BY COUNTRY, 2025–2030 (USD BILLION)                 203

TABLE 160            BRAZIL: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)                 204

TABLE 161            BRAZIL: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)                 204

TABLE 162            MEXICO: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)                 205

TABLE 163            MEXICO: PRODUCT ENGINEERING SERVICES MARKET, BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)                 205

TABLE 164            REST OF LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET,

BY ORGANIZATION SIZE, 2020–2024 (USD BILLION)          206

TABLE 165            REST OF LATIN AMERICA: PRODUCT ENGINEERING SERVICES MARKET,

BY ORGANIZATION SIZE, 2025–2030 (USD BILLION)          206

TABLE 166            PRODUCT ENGINEERING SERVICES MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2022–2025        207

TABLE 167            PRODUCT ENGINEERING SERVICES MARKET: DEGREE OF COMPETITION, 2024               209

TABLE 168            PRODUCT ENGINEERING SERVICES MARKET: REGION FOOTPRINT     215

TABLE 169            PRODUCT ENGINEERING SERVICES MARKET: SERVICE TYPE FOOTPRINT         216

TABLE 170            PRODUCT ENGINEERING SERVICES MARKET: VERTICAL FOOTPRINT 217

TABLE 171            PRODUCT ENGINEERING SERVICES MARKET: LIST OF KEY STARTUPS/SMES   220

TABLE 172            PRODUCT ENGINEERING SERVICES MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES                 221

TABLE 173            PRODUCT ENGINEERING SERVICES MARKET: PRODUCT LAUNCHES AND ENHANCEMENTS, MAY 2023–JUNE 2025        224

TABLE 174            PRODUCT ENGINEERING SERVICES MARKET: DEALS, MAY 2023–JUNE 2025        226

TABLE 175            ACCENTURE: COMPANY OVERVIEW       236

TABLE 176            ACCENTURE: PRODUCTS/SOLUTIONS/SERVICES OFFERED    237

TABLE 177            ACCENTURE: DEALS       238

TABLE 178            ACCENTURE: EXPANSIONS          240

TABLE 179            CAPGEMINI: COMPANY OVERVIEW         242

TABLE 180            CAPGEMINI: PRODUCTS/SOLUTIONS/SERVICES OFFERED    243

TABLE 181            CAPGEMINI: PRODUCT LAUNCHES AND ENHANCEMENTS             245

TABLE 182            CAPGEMINI: DEALS        245

TABLE 183            CAPGEMINI: EXPANSIONS           246

TABLE 184            TCS: COMPANY OVERVIEW         248

TABLE 185            TCS: PRODUCTS/SOLUTIONS/SERVICES OFFERED             249

TABLE 186            TCS: PRODUCT LAUNCHES AND ENHANCEMENTS AND ENHANCEMENTS              250

TABLE 187            TCS: DEALS        250

TABLE 188            COGNIZANT: COMPANY OVERVIEW       252

TABLE 189            COGNIZANT: PRODUCTS/SOLUTIONS/SERVICES OFFERED    253

TABLE 190            COGNIZANT: PRODUCT LAUNCHES AND ENHANCEMENTS             255

TABLE 191            COGNIZANT: DEALS       255

TABLE 192            HCL TECHNOLOGIES: COMPANY OVERVIEW                 258

TABLE 193            HCL TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED    259

TABLE 194            HCL TECHNOLOGIES: PRODUCT LAUNCHES AND ENHANCEMENTS  261

TABLE 195            HCL TECHNOLOGIES: DEALS     262

TABLE 196            IBM: COMPANY OVERVIEW         264

TABLE 197            IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED             265

TABLE 198            IBM: PRODUCT LAUNCHES AND ENHANCEMENTS             266

TABLE 199            IBM: DEALS        267

TABLE 200            WIPRO: COMPANY OVERVIEW   268

TABLE 201            WIPRO: PRODUCTS/SOLUTIONS/SERVICES OFFERED             269

TABLE 202            WIPRO: DEALS  271

TABLE 203            WIPRO: EXPANSIONS, MAY 2025 – JUNE 2023                 271

TABLE 204            ALTEN GROUP: COMPANY OVERVIEW  272

TABLE 205            ALTEN GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED    273

TABLE 206            ALTEN GROUP: DEALS  274

TABLE 207            LTIMINDTREE: COMPANY OVERVIEW   276

TABLE 208            LTIMINDTREE: PRODUCTS/SOLUTIONS/SERVICES OFFERED    277

TABLE 209            LTIMINDTREE: PRODUCT LAUNCHES AND ENHANCEMENTS             279

TABLE 210            LTIMINDTREE: DEALS   279

TABLE 211            LTIMINDTREE: EXPANSIONS, JUNE 2024 – JUNE 2024        280

TABLE 212            AVL: COMPANY OVERVIEW         281

TABLE 213            AVL: PRODUCTS/SOLUTIONS/SERVICES OFFERED             281

TABLE 214            AVL: DEALS        282

TABLE 215            SIMULATION SOFTWARE MARKET, BY OFFERING, 2018–2023 (USD MILLION)     309

TABLE 216            SIMULATION SOFTWARE MARKET, BY OFFERING, 2024–2030 (USD MILLION)     309

TABLE 217            SIMULATION SOFTWARE MARKET, BY SOFTWARE TYPE,

2018–2023 (USD MILLION)            309

TABLE 218            SIMULATION SOFTWARE MARKET, BY SOFTWARE TYPE,

2024–2030 (USD MILLION)            310

TABLE 219            IOT ENGINEERING SERVICES MARKET, BY SERVICE TYPE,

2015–2022 (USD MILLION)            310

TABLE 220            IOT ENGINEERING SERVICES MARKET, BY END USER, 2015–2022 (USD MILLION)                311

LIST OF FIGURES

FIGURE 1              PRODUCT ENGINEERING SERVICES MARKET: RESEARCH DESIGN         34

FIGURE 2              BREAKUP OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION,

AND REGION     35

FIGURE 3              PRODUCT ENGINEERING SERVICES MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES    38

FIGURE 4              MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH                39

FIGURE 5              MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH              40

FIGURE 6              PRODUCT ENGINEERING SERVICES MARKET: RESEARCH FLOW             40

FIGURE 7              MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS                 41

FIGURE 8              MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH

FROM SUPPLY SIDE – COLLECTIVE REVENUE OF VENDORS                 41

FIGURE 9              PRODUCT ENGINEERING SERVICES MARKET: DEMAND-SIDE APPROACH          42

FIGURE 10            PRODUCT ENGINEERING SERVICES MARKET TO WITNESS SIGNIFICANT GROWTH      47

FIGURE 11            FASTEST-GROWING SEGMENTS IN PRODUCT ENGINEERING SERVICES

MARKET, 2025–2030          48

FIGURE 12            PRODUCT ENGINEERING SERVICES MARKET: REGIONAL SNAPSHOT  49

FIGURE 13            INCREASING PRODUCT COMPLEXITY AND DEMAND FOR FASTER INNOVATION

TO DRIVE MARKET         51

FIGURE 14            PRODUCT DEVELOPMENT SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD                52

FIGURE 15            OFFSHORE SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD 52

FIGURE 16            LARGE ENTERPRISES SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD                 53

FIGURE 17            INDUSTRIAL MANUFACTURING SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD                53

FIGURE 18            ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENT IN NEXT FIVE YEARS          54

FIGURE 19            PRODUCT ENGINEERING SERVICES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES                 55

FIGURE 20            PRODUCT ENGINEERING SERVICES MARKET: ECOSYSTEM ANALYSIS  66

FIGURE 21            PRODUCT ENGINEERING SERVICES MARKET: SUPPLY CHAIN ANALYSIS             67

FIGURE 22            AVERAGE SELLING PRICE OF SERVICE PROVIDERS, BY REGION, 2025     69

FIGURE 23            PATENTS APPLIED AND PUBLISHED, 2014–2024                 72

FIGURE 24            PORTER’S FIVE FORCES ANALYSIS: PRODUCT ENGINEERING SERVICES MARKET            85

FIGURE 25            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS   87

FIGURE 26            KEY BUYING CRITERIA FOR TOP THREE VERTICALS         88

FIGURE 27            PRODUCT ENGINEERING SERVICES MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS      90

FIGURE 28            LEADING GLOBAL PRODUCT ENGINEERING SERVICES MARKET VENDORS,

BY NUMBER OF INVESTORS AND FUNDING ROUND, 2025                 92

FIGURE 29            IMPACT OF GENAI ON PRODUCT ENGINEERING SERVICES MARKET          93

FIGURE 30            PRODUCT DEVELOPMENT SEGMENT TO HOLD LARGEST MARKET

SIZE DURING FORECAST PERIOD             102

FIGURE 31            OFFSHORE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD       124

FIGURE 32            LARGE ENTERPRISES SEGMENT TO HOLD LARGER MARKET SIZE DURING FORECAST PERIOD        132

FIGURE 33            INDUSTRIAL MANUFACTURING SEGMENT TO ACCOUNT FOR LARGEST MARKET SIZE DURING FORECAST PERIOD                137

FIGURE 34            NORTH AMERICA TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD             163

FIGURE 35            NORTH AMERICA: MARKET SNAPSHOT 165

FIGURE 36            ASIA PACIFIC: MARKET SNAPSHOT          181

FIGURE 37            SHARE ANALYSIS OF PRODUCT ENGINEERING SERVICES MARKET, 2024                208

FIGURE 38            PRODUCT ENGINEERING SERVICES MARKET: REVENUE ANALYSIS OF KEY PLAYERS, 2020–2024 (USD MILLION)                 210

FIGURE 39            COMPANY EVALUATION MATRIX FOR KEY PLAYERS: CRITERIA WEIGHTAGE             212

FIGURE 40            PRODUCT ENGINEERING SERVICES MARKET: COMPANY EVALUATION MATRIX

(KEY PLAYERS), 2024       214

FIGURE 41            PRODUCT ENGINEERING SERVICES MARKET: COMPANY FOOTPRINT 215

FIGURE 42            EVALUATION MATRIX FOR STARTUPS/SMES: CRITERIA WEIGHTAGE 218

FIGURE 43            PRODUCT ENGINEERING SERVICES MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024                 219

FIGURE 44            COMPANY VALUATION OF KEY VENDORS                 221

FIGURE 45            EV/EBITDA ANALYSIS OF KEY VENDORS                 222

FIGURE 46            YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND FIVE-YEAR STOCK BETA

OF KEY VENDORS            222

FIGURE 47            PRODUCT ENGINEERING SERVICES MARKET: BRAND/PRODUCT COMPARISON             223

FIGURE 48            ACCENTURE: COMPANY SNAPSHOT       237

FIGURE 49            CAPGEMINI: COMPANY SNAPSHOT         243

FIGURE 50            TCS: COMPANY SNAPSHOT         249

FIGURE 51            COGNIZANT: COMPANY SNAPSHOT       253

FIGURE 52            HCL TECHNOLOGIES: COMPANY SNAPSHOT                 259

FIGURE 53            IBM: COMPANY SNAPSHOT         265

FIGURE 54            WIPRO: COMPANY SNAPSHOT  269

FIGURE 55            ALTEN GROUP: COMPANY SNAPSHOT  273

FIGURE 56            LTIMINDTREE: COMPANY SNAPSHOT   277