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The engineering services outsourcing market size is forecast to increase by USD 378.1 million at a CAGR of 25.74% between 2023 and 2028. The market is experiencing significant growth due to various factors. One major driver is the cost savings achieved through offshoring to countries with lower labor wages. Another trend is the increasing use of digital collaboration tools, enabling real-time communication and co-innovation partnerships with outsourcing firms. Additionally, the adoption of cloud technology and servitization models are transforming the engineering services landscape. However, challenges persist, including the risk of intellectual property theft and misuse through M2M (Machine-to-Machine) connections and cybersecurity threats. Companies must address these challenges to fully leverage the benefits of engineering services outsourcing. In the US market, engineering services outsourcing is a strategic initiative for businesses seeking to reduce costs, enhance innovation, and improve operational efficiency. The use of advanced technologies such as digital collaboration tools, cloud, and M2M is becoming increasingly prevalent, enabling seamless collaboration and real-time data sharing.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Sourcing
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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