The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rise in digital transformation are expected to drive innovation in physical, engineering, and life sciences manufacturing, thus driving the market during the forecast period.

The global physical, engineering, and life sciences market is expected to grow from $433.1 billion in 2022 to $469.77 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The global physical, engineering, and life sciences market size is expected to grow to $623.99 billion in 2027 at a CAGR of 7.4%.

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Global Physical, Engineering, And Life Sciences Market Segments Include:

• By Type: Physical And Engineering Sciences, Life Sciences Services
• By Entities: Organizations, Sole Traders, Partnerships
• By Service Provider: Large Enterprise, Small and Medium Enterprise
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global physical, engineering, and life sciences market in 2021.

Major Market Players in the physical, engineering, and life sciences market include IQVIA Holdings Inc., Battelle Memorial Institute, Syneos Health Inc., PRA Health Sciences Inc., Charles River Laboratories International Inc.

The increasing popularity and adoption of the Internet of Things (IoT) across the globe is the latest trend in the engineering services market. The Internet of Things (IoT) is a system of interconnected devices enabling the 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 optimise their production processes with better energy usage, resource allocation, and asset management. For instance, PureSoftware, an engineering service company, has successfully integrated IoT into engineering services and built a steady IoT platform to improve the accuracy and speed of retrieving data. India’s IoT industry is expected to reach USD 15 billion by 2020, accounting for approximately 5% of the global market.

The Physical, Engineering, And Life Sciences Global Market Report 2023 provides a physical, engineering, and life sciences market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The physical, engineering, and life sciences market forecast analyzes physical, engineering, and life sciences market size, physical, engineering, and life sciences market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Physical engineering is concerned with translating fundamental discoveries and research findings from the natural sciences, particularly physics and chemistry, into technological innovations. The life sciences are the branches of science concerned with the scientific study of living organisms and help to improve the quality and standard of life.

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