Engineering Services Market Overview – Strategies By Market

LONDON, March 08, 2023 (GLOBE NEWSWIRE) -- Engineering Services Global Market Report 2023 By The Business Research Company Describes And Explains The Engineering Services Market And Covers 2017-2022, Termed The Historic Period, And 2022-2027 Termed The Forecast Period, Along With Further Forecasts For The Period 2027-2032. The Report Cover Market Sizing Information, Market Trends, Strategies, And Opportunities For The Seven Regions And Major Players Of The Market.

As per The Business Research Company's Engineering Services Global Market Report 2023, The global engineering services market size will grow from $1.11 trillion in 2022 to $1.15 trillion in 2023 at a compound annual growth rate (CAGR) of more than 4%. Further, the global engineering services market size is expected to grow to $1.31 trillion in 2027 at a CAGR of more than 3%.

The global engineering services market is segmented as -

      1)   By Type: Civil Engineering Services, Environmental Engineering Services, Construction Engineering Services, Mechanical Engineering Services, Other Engineering Services

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

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

      4)   By Delivery Model: Offshore, Onsite

Take A Look At A Sample Of The Engineering Services Global Market Report:

The global engineering services market is fragmented, with a large number of small players. AECOM was the largest competitor with 0.385% share of the engineering services market, followed by WorleyParsons Limited, SNC-Lavalin, Babcock International, Fluor Corporation, Bechtel Corporation, Kiewit Corporation, WSP Global Inc, John Wood Group PLC, NV5 Global Inc, Arup Group, DNV, SGS S.A.

Some of the most effective market strategies that the companies have used in the engineering services market are the adoption of artificial intelligence and blockchain. Companies in the engineering services market have also invested in the development of smart cities, low-code development and environment-friendly buildings services.

In the engineering services market, modern architecture, design and engineering projects have become extremely complex and require significant input from engineers from diverse backgrounds, as well as advanced technologies such as artificial intelligence, Internet of Things and IT solutions such as engineering analytics. Owing to such factors, demand for such services in the engineering services market is expected to see significant growth in the coming years.

For example, according to the survey by Openspace, in 2022, 91% of the respondents reported that they observed colleagues started using construction technologies due to a shift towards digitization and the adoption of innovation among builders

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In addition to these strategies, companies are strengthening business operations through securing new contracts, enhancing business operations through strategic acquisitions to keep ahead of their competition.

The engineering services market research report is one of a series of new reports from The Business Research Company that provides engineering services market statistics, including engineering services industry global market size, regional shares, competitors with an engineering services market share, detailed engineering services market segments, market trends and opportunities, and any further data you may need to thrive in the engineering services industry

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Engineering Services Market Overview – Strategies By Market