LONDON--(BUSINESS WIRE)--Aug 2, 2018-- analysts forecast the engineering services outsourcing market in the US to grow at a CAGR of over 24% during the forecast period, according to their latest market research report.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180802005745/en/

Technavio has published a new market research report on the engineering services outsourcing market in the US from 2018-2022. (Graphic: Business Wire)

Outsourcing innovation is one of the major trends being witnessed in the . Several companies from industries such as automotive, manufacturing, and pharmaceutical have outsourced a wide variety of functions, ranging from unimportant and back-end tasks to innovative tasks. Advanced technologies such as cloud-based delivery, cognitive process automation, quantum cryptography, security, and AR are also outsourced by several industries. Therefore, the market for ESO in the US is expected to witness positive developments, during the forecast period.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the engineering services outsourcing market in the US is the increasing number of surgeries coupled with the growing prevalence of diseases:

Engineering services outsourcing market in the US market: Access to high-quality manpower

The US is an early adopter of advanced technologies such as AI, machine learning, blockchain, and quantum computing. Hence the demand for extensive cybercity and smart AI based software solutions from several industries is high in the country. The complexity and diversity of such advanced technologies increase the demand for a flexible labor pool with relevant competencies. Therefore, the growing need for cutting-edge skill sets will drive the growth of the ESO market in the US.

According to a senior analyst at Technavio for research on ITO and BPO, “ESO enables companies to bypass the minimum wage regulation and utilize the services of skilled workers. Therefore, the cost efficiency offered by ESO is expected to drive the growth of the market in the US during the forecast period.”

Engineering services outsourcing market in the US: Segmentation analysis

The engineering services outsourcing market in the US research report provides market segmentation by end-user (telecom, automotive, healthcare, aerospace, others). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The telecom segment held the largest share of the market in 2017, accounting for close to 23% share, followed by the automotive, healthcare, and aerospace segments respectively. The telecom segment is expected to witness the maximum increase in its market share over the forecast period.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market sizing Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at .

View source version on businesswire.com:https://www.businesswire.com/news/home/20180802005745/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING ENGINEERING

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 08/02/2018 01:45 PM/DISC: 08/02/2018 01:45 PM

http://www.businesswire.com/news/home/20180802005745/en