Asia-Pacific product engineering services market is projected to grow at a significant CAGR of around 9.5% during the forecast period. The growth of the product engineering services market in Asia-Pacific is backed by the presence of end-use industries of product engineering services on a large scale. China contributes a major share in the product engineering services market in Asia-Pacific. This is due to the fact that China is the largest manufacturer of automotive and industrial manufacturing, and an emerging economy in the healthcare and energy & utilities sector, which is advancing with the adoption of advanced technology services in the manufacturing industry.
Moreover, the presence of number of contract research organizations (CRO) and contract manufacturing organizations (CMO) is further curtailing to the rise in the demand for product engineering services in the country. Likewise, India, Singapore, and Vietnam are among the Asia-Pacific economies that are witnessing a huge growth in the manufacturing sector, which in turn, is driving the market growth in Asia-Pacific. Furthermore, the supportive government initiatives for the SMEs in India and China, such as Credit Guarantee Trust Fund for Micro & Small Enterprises (CGTMSE) and Coir Vikas Yojna (CVY) policies of India for SMEs is further expected to escalate the market growth during the forecast period.
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Asia-Pacific Product Engineering Services Market – Segmentation
By Service
- Product and Component Design
- New Product Development
- Design Support Services
- Software Engineering
- Hardware Engineering
- Others
- Process Engineering
- Maintenance, Repair, and Operations
- Others
By Organization Size
- Small and Medium Enterprises (<1000 Employees)
- Large Enterprises (>1000 Employees)
By End-Use Industry
- Healthcare
- Automotive
- Aerospace & Defense
- Energy & Utilities
- Industrial Manufacturing
- Others
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Asia-Pacific Product Engineering Services Market – Segmentation
- China
- Japan
- India
Rest of Asia-Pacific
Company Profiles
- Accenture plc
- Alten Group
- Altran (Capgemini Service SAS)
- Cognizant Organization Size Solutions Corp.
- Cygnet Group of Companies
- Damco Group
- IBM Corp.
- Infosys Ltd.
- iPraxa Inc.
- Iris Software, Inc.
- Mistral Solutions Pvt. Ltd.
- Sourceedge Software Technologies Pvt. Ltd.
- Wipro Ltd.
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