The Asia Pacific Product Engineering Services Market would witness market growth of 8.9% CAGR during the forecast period (2022-2028).
The market for product engineering services currently only includes a very modest amount of artificial intelligence (AI). Artificial intelligence within product engineering, however, has the potential to automate and expedite the process of creating and developing products, which means it has the potential to greatly advance and advance product engineering.
Artificial intelligence in product engineering also reduces processing times and helps to increase productivity for companies or industries. Therefore, incorporating artificial intelligence into the development of better product engineering services would significantly boost productivity in order to meet current engineering demands, which would result in growth prospects for the product engineering services market.
In addition, the use of AI in product engineering services offers a framework for streamlining and automating workflow procedures and providing market insights. Businesses and industries are integrating advanced product engineering services for product innovation and sustainability. With the use of artificial intelligence and machine learning, product engineering can satisfy the expanding demand for product analytics throughout a number of industries.
India has historically prioritized domestic production and consumption in the manufacturing sector. The availability of cheap labor and the expense of technology led to challenges, such as a price-conscious market, inadequate infrastructure and supply networks, and a tendency toward labor-intensive procedures. The local manufacturing sector is anticipated to boost its demand and consumption of machinery and equipment as a result of the Indian government's Make in India strategy.
The China market dominated the Asia Pacific Product Engineering Services Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $217 Billion by 2028. The Japan market is estimated to grow a CAGR of 8.2% during (2022 - 2028). Additionally, The India market would experience a CAGR of 9.5% during (2022 - 2028).
Based on Service Type, the market is segmented into Product & Component Design, Process Engineering, Maintenance, Repair & Operations, and Others. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises. Based on Vertical, the market is segmented into Automotive & Transportation, Industrial Manufacturing, Healthcare, IT & Telecom, Energy & Utilities, BFSI, Aerospace & Defense, Media & Entertainment, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Product Engineering Services Market is Projected to reach USD 2041.4 Billion by 2028, at a CAGR of 8.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Wipro Limited, Tata Consultancy Services Ltd., Accenture PLC, HCL Technologies Ltd., Capgemini SE, ALTEN, Happiest Minds Technologies Limited, AVL List GmbH, and AKKA Technologies SE.
Scope of the Study
Market Segments Covered in the Report:
By Service Type
- Product & Component Design
- Process Engineering
- Maintenance, Repair & Operations
- Others
By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
By Vertical
- Automotive & Transportation
- Industrial Manufacturing
- Healthcare
- IT & Telecom
- Energy & Utilities
- BFSI
- Aerospace & Defense
- Media & Entertainment
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Wipro Limited
- Tata Consultancy Services Ltd.
- Accenture PLC
- HCL Technologies Ltd.
- Capgemini SE
- ALTEN
- Happiest Minds Technologies Limited
- AVL List GmbH
- AKKA Technologies SE
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Product Engineering Services Market, by Service Type
1.4.2 Asia Pacific Product Engineering Services Market, by Organization Size
1.4.3 Asia Pacific Product Engineering Services Market, by Vertical
1.4.4 Asia Pacific Product Engineering Services Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements : 2018, Oct – 2022, May) Leading Players
Chapter 4. Asia Pacific Product Engineering Services Market by Service Type
4.1 Asia Pacific Product & Component Design Market by Country
4.2 Asia Pacific Process Engineering Market by Country
4.3 Asia Pacific Maintenance, Repair & Operations Market by Country
4.4 Asia Pacific Others Market by Country
Chapter 5. Asia Pacific Product Engineering Services Market by Organization Size
5.1 Asia Pacific Large Enterprises Market by Country
5.2 Asia Pacific Small & Medium-sized Enterprises Market by Country
Chapter 6. Asia Pacific Product Engineering Services Market by Vertical
6.1 Asia Pacific Automotive & Transportation Market by Country
6.2 Asia Pacific Industrial Manufacturing Market by Country
6.3 Asia Pacific Healthcare Market by Country
6.4 Asia Pacific IT & Telecom Market by Country
6.5 Asia Pacific Energy & Utilities Market by Country
6.6 Asia Pacific BFSI Market by Country
6.7 Asia Pacific Aerospace & Defense Market by Country
6.8 Asia Pacific Media & Entertainment Market by Country
6.9 Asia Pacific Others Market by Country
Chapter 7. Asia Pacific Product Engineering Services Market by Country
7.1 China Product Engineering Services Market
7.1.1 China Product Engineering Services Market by Service Type
7.1.2 China Product Engineering Services Market by Organization Size
7.1.3 China Product Engineering Services Market by Vertical
7.2 Japan Product Engineering Services Market
7.2.1 Japan Product Engineering Services Market by Service Type
7.2.2 Japan Product Engineering Services Market by Organization Size
7.2.3 Japan Product Engineering Services Market by Vertical
7.3 India Product Engineering Services Market
7.3.1 India Product Engineering Services Market by Service Type
7.3.2 India Product Engineering Services Market by Organization Size
7.3.3 India Product Engineering Services Market by Vertical
7.4 South Korea Product Engineering Services Market
7.4.1 South Korea Product Engineering Services Market by Service Type
7.4.2 South Korea Product Engineering Services Market by Organization Size
7.4.3 South Korea Product Engineering Services Market by Vertical
7.5 Singapore Product Engineering Services Market
7.5.1 Singapore Product Engineering Services Market by Service Type
7.5.2 Singapore Product Engineering Services Market by Organization Size
7.5.3 Singapore Product Engineering Services Market by Vertical
7.6 Malaysia Product Engineering Services Market
7.6.1 Malaysia Product Engineering Services Market by Service Type
7.6.2 Malaysia Product Engineering Services Market by Organization Size
7.6.3 Malaysia Product Engineering Services Market by Vertical
7.7 Rest of Asia Pacific Product Engineering Services Market
7.7.1 Rest of Asia Pacific Product Engineering Services Market by Service Type
7.7.2 Rest of Asia Pacific Product Engineering Services Market by Organization Size
7.7.3 Rest of Asia Pacific Product Engineering Services Market by Vertical
Chapter 8. Company Profiles
8.1 IBM Corporation
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional & Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Acquisition and Mergers:
8.1.5.3 Geographical Expansions:
8.1.6 SWOT Analysis
8.2 Wipro Limited
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Acquisition and Mergers:
8.2.6 SWOT Analysis
8.3 Tata Consultancy Services Ltd.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent strategies and developments:
8.3.5.1 Product Launches and Product Expansions:
8.3.5.2 Acquisition and Mergers:
8.3.6 SWOT Analysis
8.4 Accenture PLC
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Acquisition and Mergers:
8.4.6 SWOT Analysis
8.5 HCL Technologies Ltd. (HCL Enterprises)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.5.2 Product Launches and Product Expansions:
8.5.5.3 Acquisition and Mergers:
8.5.5.4 Geographical Expansions:
8.6 Capgemini SE
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Regional Analysis
8.6.4 Recent strategies and developments:
8.6.4.1 Partnerships, Collaborations, and Agreements:
8.6.4.2 Business Expansions:
8.7 ALTEN
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Recent strategies and developments:
8.7.3.1 Partnerships, Collaborations, and Agreements:
8.7.3.2 Acquisition and Mergers:
8.8 Happiest Minds Technologies Limited
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expenses
8.8.5 Recent strategies and developments:
8.8.5.1 Partnerships, Collaborations, and Agreements:
8.9 AVL List GmbH
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Partnerships, Collaborations, and Agreements:
8.10. AKKA Technologies SE
8.10.1 Company Overview
TABLE 1 Asia Pacific Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 2 Asia Pacific Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 3 Partnerships, Collaborations and Agreements– Product Engineering Services Market
TABLE 4 Product Launches And Product Expansions– Product Engineering Services Market
TABLE 5 Acquisition and Mergers– Product Engineering Services Market
TABLE 6 expansions– Product Engineering Services Market
TABLE 7 Asia Pacific Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 8 Asia Pacific Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 9 Asia Pacific Product & Component Design Market by Country, 2018 - 2021, USD Billion
TABLE 10 Asia Pacific Product & Component Design Market by Country, 2022 - 2028, USD Billion
TABLE 11 Asia Pacific Process Engineering Market by Country, 2018 - 2021, USD Billion
TABLE 12 Asia Pacific Process Engineering Market by Country, 2022 - 2028, USD Billion
TABLE 13 Asia Pacific Maintenance, Repair & Operations Market by Country, 2018 - 2021, USD Billion
TABLE 14 Asia Pacific Maintenance, Repair & Operations Market by Country, 2022 - 2028, USD Billion
TABLE 15 Asia Pacific Others Market by Country, 2018 - 2021, USD Billion
TABLE 16 Asia Pacific Others Market by Country, 2022 - 2028, USD Billion
TABLE 17 Asia Pacific Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 18 Asia Pacific Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 19 Asia Pacific Large Enterprises Market by Country, 2018 - 2021, USD Billion
TABLE 20 Asia Pacific Large Enterprises Market by Country, 2022 - 2028, USD Billion
TABLE 21 Asia Pacific Small & Medium-sized Enterprises Market by Country, 2018 - 2021, USD Billion
TABLE 22 Asia Pacific Small & Medium-sized Enterprises Market by Country, 2022 - 2028, USD Billion
TABLE 23 Asia Pacific Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 24 Asia Pacific Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 25 Asia Pacific Automotive & Transportation Market by Country, 2018 - 2021, USD Billion
TABLE 26 Asia Pacific Automotive & Transportation Market by Country, 2022 - 2028, USD Billion
TABLE 27 Asia Pacific Industrial Manufacturing Market by Country, 2018 - 2021, USD Billion
TABLE 28 Asia Pacific Industrial Manufacturing Market by Country, 2022 - 2028, USD Billion
TABLE 29 Asia Pacific Healthcare Market by Country, 2018 - 2021, USD Billion
TABLE 30 Asia Pacific Healthcare Market by Country, 2022 - 2028, USD Billion
TABLE 31 Asia Pacific IT & Telecom Market by Country, 2018 - 2021, USD Billion
TABLE 32 Asia Pacific IT & Telecom Market by Country, 2022 - 2028, USD Billion
TABLE 33 Asia Pacific Energy & Utilities Market by Country, 2018 - 2021, USD Billion
TABLE 34 Asia Pacific Energy & Utilities Market by Country, 2022 - 2028, USD Billion
TABLE 35 Asia Pacific BFSI Market by Country, 2018 - 2021, USD Billion
TABLE 36 Asia Pacific BFSI Market by Country, 2022 - 2028, USD Billion
TABLE 37 Asia Pacific Aerospace & Defense Market by Country, 2018 - 2021, USD Billion
TABLE 38 Asia Pacific Aerospace & Defense Market by Country, 2022 - 2028, USD Billion
TABLE 39 Asia Pacific Media & Entertainment Market by Country, 2018 - 2021, USD Billion
TABLE 40 Asia Pacific Media & Entertainment Market by Country, 2022 - 2028, USD Billion
TABLE 41 Asia Pacific Others Market by Country, 2018 - 2021, USD Billion
TABLE 42 Asia Pacific Others Market by Country, 2022 - 2028, USD Billion
TABLE 43 Asia Pacific Product Engineering Services Market by Country, 2018 - 2021, USD Billion
TABLE 44 Asia Pacific Product Engineering Services Market by Country, 2022 - 2028, USD Billion
TABLE 45 China Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 46 China Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 47 China Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 48 China Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 49 China Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 50 China Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 51 China Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 52 China Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 53 Japan Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 54 Japan Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 55 Japan Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 56 Japan Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 57 Japan Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 58 Japan Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 59 Japan Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 60 Japan Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 61 India Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 62 India Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 63 India Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 64 India Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 65 India Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 66 India Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 67 India Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 68 India Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 69 South Korea Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 70 South Korea Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 71 South Korea Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 72 South Korea Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 73 South Korea Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 74 South Korea Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 75 South Korea Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 76 South Korea Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 77 Singapore Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 78 Singapore Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 79 Singapore Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 80 Singapore Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 81 Singapore Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 82 Singapore Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 83 Singapore Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 84 Singapore Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 85 Malaysia Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 86 Malaysia Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 87 Malaysia Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 88 Malaysia Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 89 Malaysia Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 90 Malaysia Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 91 Malaysia Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 92 Malaysia Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 93 Rest of Asia Pacific Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 94 Rest of Asia Pacific Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 95 Rest of Asia Pacific Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 96 Rest of Asia Pacific Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 97 Rest of Asia Pacific Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 98 Rest of Asia Pacific Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 99 Rest of Asia Pacific Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 100 Rest of Asia Pacific Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 101 Key information – IBM Corporation
TABLE 102 Key Information – Wipro Limited
TABLE 103 Key Information – Tata Consultancy Services Ltd.
TABLE 104 Key information – Accenture PLC
TABLE 105 Key Information – HCL Technologies Ltd.
TABLE 106 Key Information – Capgemini SE
TABLE 107 Key Information – ALTEN
TABLE 108 Key Information – Happiest Minds Technologies Limited
TABLE 109 Key Information – AVL List GmbH
TABLE 110 Key Information – AKKA Technologies SE
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Partnerships, collaborations and agreements : 2018, oct – 2022, may) Leading Players
FIG 5 Recent strategies and developments: IBM Corporation
FIG 6 Swot analysis: IBM Corporation
FIG 7 Recent strategies and developments: Wipro Limited
FIG 8 SWOT Analysis: Wipro Limited
FIG 9 Recent strategies and developments: Tata Consultancy Services Ltd.
FIG 10 SWOT Analysis: Tata Consultancy Services Ltd.
FIG 11 Swot analysis: Accenture plc
FIG 12 Recent strategies and developments: HCL Technologies Ltd.
FIG 13 Recent strategies and developments: Capgemini SE
FIG 14 Recent strategies and developments: ALTEN