Product Engineering Services Market Intelligence

Product Engineering Services Market Description

The market for product engineering services is expected to grow at a CAGR of 9.8–10 percent by 2021, reaching about $1078 billion. The major end-users for software product engineering services are automobiles, independent software vendors, healthcare, telecom, educational institutions, BFSI, aerospace and others industries. The software product engineering service is more concentrated in the U.S. as they spend more in R&D (Research and Development), followed by India, China and few countries such as Russia, Ukraine, and Romania (Central and Eastern Europe).

The report elaborates on the industry drivers and constraints for the software product engineering industry along with a detailed analysis on the Porter's’ Five Forces. It further evaluates the key global suppliers’ profiles such as Accenture, ALTEN Calsoft Labs, EPAM , Altran, Cognizant, Harman, HCL Technologies Ltd., Luxoft, Pactera, Tata Consultancy Services (TCS) etc. It also provides cost and pricing models and sourcing best practices for the software product engineering market. The report elaborates on the software product engineering lifecycle along with discussing various software development models such as Waterfall, V, Incremental, RAD (Rapid Application Development), Agile etc..

Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.

Report Coverage

Market Trends
Technology & Innovation Trends
Global Supplier List and Capabilities
Mergers and Acquisitions

Product Engineering Services Market Trend, Analysis & Forecast

Category Intelligence on Product Engineering Services covers the following

Information relating to market, supply, cost, and pricing analysis
Hard to find data on cost and TCO models, supplier details, and performance benchmarks
Macroeconomic and regional trends impacting cost, supply, and other market dynamics
Category-specific negotiation and sourcing advice

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Executive Summary

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Market Analysis

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Supply Analysis

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Cost & Pricing Analysis

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Best Practices

Global Market Outlook on Product Engineering Services

Software product engineering includes various phases, starting from planning, developing, testing, deployment, to support and maintenance of the software based on the requirements of the customer/client
It is also referred to as ‘Software Product Development Services’ , ’Application Development and Maintenance Services’ or ‘Product Engineering’ by the clients
The market for product engineering services is expected to grow between 9.8 – 10 percent (CAGR) from 2017 to 2021, from $737 billion in 2017 to $1078 billion in 2021

product-engineering-services-market-size

The major trends which drive the growth of software product engineering is: – Reducing the time taken for development helps the vendor to achieve quicker delivery cycles of the product. This accelerates the ‘time -to- market’ criteria of the product among the vendors – Industries have started adopting IoT to reduce costs, and this is achieved by manufacturing various devices, thereby providing better customer experience
Major end-users for software product engineering services are: Automobiles, Independent Software Vendors, Healthcare, Telecom, Educational Institutions, BFSI, Aerospace and Others Industries
Software product engineering service is more concentrated in the US as they spend more in R&D, followed by India, China and few countries like Russia, Ukraine, Romania (Central and Eastern Europe)

Supplier Evaluation Criteria

Software product engineering or software product development services is a highly competitive and fragmented market
Though there are many small and medium players, big players TCS, Cognizant play a dominant role due to their technical capabilities
The service providers are evaluated based on their technological capability, employee availability with desired skills

Cost Break-up

The below chart represents the approximated cost break-up for developing a software product as a whole
When going for complete cloud, one would need to get a person who communicates between the cloud and the team
The cloud/hybrid reduces the storage cost of the hardware from an infrastructure-cost related standpoint
The current trend is more towards moving applications and data to the cloud based deployment model as it can scale up/down according to the system’s needs. This will reduce the overall cost of the system as no upfront costs for server acquisitions are needed

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