Product Engineering Services Market Intelligence

Are you looking for answers on Product Engineering Services category?

Are you looking for answers on Product Engineering Services category?

  • What are the key trends in Product Engineering Services category?
  • Am I paying the right price?
  • Am I working with the right supplier?
  • What are the major challenges and risks in Product Engineering Services industry?
  • How is Product Engineering Services industry performing?

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Report Coverage

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

Market Size

Global Market Size

$800 Bn

CAGR

9.8 - 10 Percent

Table of contents

  1. Product Engineering Services Executive Summary
  2. Category Updates
  3. Executive summary
  1. Product Engineering Services Market Analysis
  2. Global Market Outlook
  3. Product Engineering Lifecycle
  4. Software Development Model
  5. Drivers and Constraints
  6. Porter’s Five Forces Analysis
  1. Product Engineering Services Supplier Analysis
  2. Supplier Evaluation Criteria
  3. Key Global Supplier Profiling
  1. Product Engineering Services Cost and Pricing Models
  2. Pricing Model
  3. Cost Breakup
  1. Product Engineering Services Sourcing Best Practice
  2. Sourcing Model
  3. Case Study
  1. Product Engineering Lifecycle and Models
  2. Lifecycle
  3. Models

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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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