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The engineering services market is expected to grow from $1,038.83 billion in 2021 to $1,110.20 billion in 2022 at a compound annual growth rate (CAGR) of 6.9%. The market is expected to reach $1,271.62 billion in 2026 at a CAGR of 3.5%.

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

Engineering Services Market Trends
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.

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Engineering Services Market Segmentation By The Business Research Company

1) By Type: Civil Engineering Services, Electrical Engineering Services, Mechanical Engineering Services, Other Engineering Services

2) By End User: Automotive, Industrial Manufacturing, Construction, Aerospace, Telecommunications, Information Technology, Energy & Utilities, Other End Users

3) By Engineering Disciplines: Civil, Mechanical, Electrical, Piping and Structural Engineering, Other Engineering Disciplines

Major Players And Regions Of The Engineering Services Market

Major players in the engineering services market are Tata Consulting Services (TCS), Infosys, WorleyParsons, Deaton Engineering, Inc., Aricent Group, Cybage Software Pvt. Ltd., EPAM Systems; Inc. and GlobalLogic.

The Engineering Services Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the engineering services market.

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