According to Fortune Business Insights the global engineering services market size was valued at USD 2.15 trillion in 2024. The market is projected to grow from USD 2.34 trillion in 2025 to USD 4.65 trillion by 2032, exhibiting a CAGR of 10.29% during the forecast period. The global engineering services market is large and rapidly evolving, offering a wide range of solutions including software product engineering, embedded engineering, mechanical, network, and manufacturing engineering. Its steady growth is driven by ongoing technological advancements and increasing demand from key industries such as automotive, aerospace, manufacturing, BFSI, retail, IT, and healthcare.
Get a Free Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/engineering-services-market-112409
Software Product Engineering
Embedded Engineering
Mechanical Engineering
Network Engineering
Manufacturing Engineering
Broad-based Vendors: Expected to hold around 68% share in 2025 due to full-suite service capabilities.
Pure-play Vendors: Focused specialists projected to grow at ~9% CAGR during the forecast period.
Automotive & Mobility
IT & Telecom (largest segment)
Manufacturing & Mining
Aerospace & Defense
Healthcare & Life Sciences
BFSI
Retail & Consumer Goods
Rising digital transformation and adoption of software-driven engineering.
Growing demand for automation, Industry 4.0, and smart manufacturing solutions.
Increased outsourcing across sectors to reduce costs and accelerate development.
Expanding applications in automotive, aerospace, telecom, healthcare, and electronics.
Demand for advanced engineering expertise for EVs, IoT products, and smart infrastructure.
The market is expected to more than double by 2032, reaching USD 4.65 trillion.
Software and embedded engineering will experience the fastest growth due to increased digital product development.
Asia Pacific will continue to lead, driven by cost-efficient engineering capability expansion.
Strong demand expected from automotive (EVs), aerospace, healthcare, telecom, and industrial sectors.
Outsourcing, global delivery models, and vendor consolidation will shape future competition.
Capgemini
Accenture
Tata Consultancy Services (TCS)
HCL Technologies
Cognizant
Wipro
Tech Mahindra
GlobalLogic
December 2024: Tata Consultancy Services extended its partnership with Telenor Denmark to continue providing strategic insights and advanced technology support.
November 2024: C3 AI and Capgemini expanded their collaboration to accelerate Enterprise AI solution delivery, helping clients boost productivity and reduce operational costs.
Get Your Customization Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/engineering-services-market-112409
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner - Mahalunge Road,
Baner, Pune-411045, Maharashtra, India.
Phone:
US: +18339092966
UK: +448085020280
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com