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Product Engineering Services Market Size
- Report ID: GMI5754
- Published Date: May 2023
- Report Format: PDF
Product Engineering Services Market Size
Product Engineering Services Market size was valued at USD 950 billion in 2022 and is anticipated to grow at a CAGR of over 5% between 2023 and 2032, driver by the increasing demand for accelerating the Time to Market (TTM) and the growing demand for faster product deliveries
The digital transformation of various industry verticals including BFSI, healthcare, and energy is also positively contributing to the market expansion. Also, the rising demand for smart homes, smart electronic devices and in-vehicle networking systems is expected to generate huge demand in the product engineering services market.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Product Engineering Services Market Size in 2022: | USD 950 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5% |
| 2032 Value Projection: | USD 2,000 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 295 |
| Segments covered: | Component, Organization Size, End-Use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The major factors restraining market growth are the growing security concerns related to legacy systems and infrastructure issues along with integration & interface issues concerning product engineering services. However, the proliferation of IoT technologies is expected to offer numerous growth opportunities to the market during the forecast period.
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Product Engineering Services Market Scope
