Learn about the global engineering services market through The Business Research Company, which provides information on engineering services market size, engineering services market drivers and restraints, engineering services market players, the COVID-19 impact on the engineering services market, and more.

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The global engineering services market is expected to grow from $991.38 billion in 2021 to $1071.59 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The growth in the engineering services market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The engineering services market is expected to reach $1383.41 billion in 2026 at a CAGR of 6.6%.

The engineering services market is expected to benefit from steady economic growth in developed and developing countries.

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The engineering services market consists of the sale of engineering services. Engineering services’ companies apply physical laws and principles of engineering in the design, development, and utilization of machines, materials, instruments, structures, processes, and systems. Engineering services include the technical application of engineering in product designing, innovations, and others in industries such as building construction, mining, power and energy, transportation, manufacturing, and others.

Global Engineering Services Market Segments Include:

By Type: Civil Engineering Services, Environmental Engineering Services, Construction Engineering Services, Mechanical Engineering Services, Others Engineering Services

By End User: Automotive, Industrial Manufacturing, Healthcare Sector, Aerospace, Telecommunications, Information Technology, Energy & Utilities, Others

By Engineering Disciplines: Civil, Mechanical, Electrical, Piping and Structural Engineering

By Delivery Model: Offshore, Onsite

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

The increasing popularity and adoption of the Internet of Things (IoT) across the globe is the latest trend in the engineering services market. Internet of things (IoT) is a system of inter-related devices enabling transmission of data over a wide range of networks. IoT enables continuous innovations in real-time data analytics, design, and development products and helps businesses grow at a faster pace. Engineering service providers are increasingly using industrial IoT to improve and optimize their production process with better energy usage, resource allocation, and asset management.

TBRC’s engineering services market report covers:

Major Market Players: Tata Consulting Services (TCS), Infosys, WorleyParsons, Deaton Engineering, Inc., Aricent Group, Cybage Software Pvt. Ltd., EPAM Systems, Inc. and GlobalLogic.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Engineering Services Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides engineering services market overviews, analyses and forecasts market size, share, engineering services market players, engineering services market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s engineering services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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