The North America Product Engineering Services Market would witness market growth of 7.9% CAGR during the forecast period (2022-2028).
Product engineering is the process of converting a product from early design and development to volume manufacturing. Organizations nowadays are constantly changing across all industries. Never before have consumer expectations been higher. There has never been a smarter product. The lifespan of a product has never been shorter.
The key to success rests in accelerating time to market together with time to profit as companies attempt to handle these problems amid new technology trends as well as dynamic market conditions. Businesses need a partner that can give them a competitive edge by allowing them to take benefit of unheard-of innovation opportunities while optimizing their operations all through the product development life cycle to build a strong foundation.
Product engineering services include anything from product benchmarking, industrial design, and value engineering to software, mechanical, hardware, as well as VLSI design. In addition to helping customers with their New Product Development Initiatives (NPDI), product engineering service providers also work with them to re-engineer existing products to satisfy market needs for cost, features, and performance efficiency.
The healthcare sector of the United States is very significant and robust. Moreover, according to the United States Bureau of Labor Statistics, healthcare occupations are expected to add around 2.6 million new employment between 2020 and 2030, growing at a substantially greater rate than the average for all occupations. More employment than any other occupational group is expected to be added in the healthcare sector.
The US market dominated the North America Product Engineering Services Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $421.6 Billion by 2028. The Canada market is poised to grow at a CAGR of 10.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 9.3% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Product Engineering Services Market is Estimated to reach $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
- US
- Canada
- Mexico
- Rest of North America
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 North America Product Engineering Services Market, by Service Type
1.4.2 North America Product Engineering Services Market, by Organization Size
1.4.3 North America Product Engineering Services Market, by Vertical
1.4.4 North America 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. North America Product Engineering Services Market by Service Type
4.1 North America Product & Component Design Market by Country
4.2 North America Process Engineering Market by Country
4.3 North America Maintenance, Repair & Operations Market by Country
4.4 North America Others Market by Country
Chapter 5. North America Product Engineering Services Market by Organization Size
5.1 North America Large Enterprises Market by Country
5.2 North America Small & Medium-sized Enterprises Market by Country
Chapter 6. North America Product Engineering Services Market by Vertical
6.1 North America Automotive & Transportation Market by Country
6.2 North America Industrial Manufacturing Market by Country
6.3 North America Healthcare Market by Country
6.4 North America IT & Telecom Market by Country
6.5 North America Energy & Utilities Market by Country
6.6 North America BFSI Market by Country
6.7 North America Aerospace & Defense Market by Country
6.8 North America Media & Entertainment Market by Country
6.9 North America Others Market by Country
Chapter 7. North America Product Engineering Services Market by Country
7.1 US Product Engineering Services Market
7.1.1 US Product Engineering Services Market by Service Type
7.1.2 US Product Engineering Services Market by Organization Size
7.1.3 US Product Engineering Services Market by Vertical
7.2 Canada Product Engineering Services Market
7.2.1 Canada Product Engineering Services Market by Service Type
7.2.2 Canada Product Engineering Services Market by Organization Size
7.2.3 Canada Product Engineering Services Market by Vertical
7.3 Mexico Product Engineering Services Market
7.3.1 Mexico Product Engineering Services Market by Service Type
7.3.2 Mexico Product Engineering Services Market by Organization Size
7.3.3 Mexico Product Engineering Services Market by Vertical
7.4 Rest of North America Product Engineering Services Market
7.4.1 Rest of North America Product Engineering Services Market by Service Type
7.4.2 Rest of North America Product Engineering Services Market by Organization Size
7.4.3 Rest of North America 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 North America Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 2 North America 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 North America Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 8 North America Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 9 North America Product & Component Design Market by Country, 2018 - 2021, USD Billion
TABLE 10 North America Product & Component Design Market by Country, 2022 - 2028, USD Billion
TABLE 11 North America Process Engineering Market by Country, 2018 - 2021, USD Billion
TABLE 12 North America Process Engineering Market by Country, 2022 - 2028, USD Billion
TABLE 13 North America Maintenance, Repair & Operations Market by Country, 2018 - 2021, USD Billion
TABLE 14 North America Maintenance, Repair & Operations Market by Country, 2022 - 2028, USD Billion
TABLE 15 North America Others Market by Country, 2018 - 2021, USD Billion
TABLE 16 North America Others Market by Country, 2022 - 2028, USD Billion
TABLE 17 North America Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 18 North America Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 19 North America Large Enterprises Market by Country, 2018 - 2021, USD Billion
TABLE 20 North America Large Enterprises Market by Country, 2022 - 2028, USD Billion
TABLE 21 North America Small & Medium-sized Enterprises Market by Country, 2018 - 2021, USD Billion
TABLE 22 North America Small & Medium-sized Enterprises Market by Country, 2022 - 2028, USD Billion
TABLE 23 North America Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 24 North America Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 25 North America Automotive & Transportation Market by Country, 2018 - 2021, USD Billion
TABLE 26 North America Automotive & Transportation Market by Country, 2022 - 2028, USD Billion
TABLE 27 North America Industrial Manufacturing Market by Country, 2018 - 2021, USD Billion
TABLE 28 North America Industrial Manufacturing Market by Country, 2022 - 2028, USD Billion
TABLE 29 North America Healthcare Market by Country, 2018 - 2021, USD Billion
TABLE 30 North America Healthcare Market by Country, 2022 - 2028, USD Billion
TABLE 31 North America IT & Telecom Market by Country, 2018 - 2021, USD Billion
TABLE 32 North America IT & Telecom Market by Country, 2022 - 2028, USD Billion
TABLE 33 North America Energy & Utilities Market by Country, 2018 - 2021, USD Billion
TABLE 34 North America Energy & Utilities Market by Country, 2022 - 2028, USD Billion
TABLE 35 North America BFSI Market by Country, 2018 - 2021, USD Billion
TABLE 36 North America BFSI Market by Country, 2022 - 2028, USD Billion
TABLE 37 North America Aerospace & Defense Market by Country, 2018 - 2021, USD Billion
TABLE 38 North America Aerospace & Defense Market by Country, 2022 - 2028, USD Billion
TABLE 39 North America Media & Entertainment Market by Country, 2018 - 2021, USD Billion
TABLE 40 North America Media & Entertainment Market by Country, 2022 - 2028, USD Billion
TABLE 41 North America Others Market by Country, 2018 - 2021, USD Billion
TABLE 42 North America Others Market by Country, 2022 - 2028, USD Billion
TABLE 43 North America Product Engineering Services Market by Country, 2018 - 2021, USD Billion
TABLE 44 North America Product Engineering Services Market by Country, 2022 - 2028, USD Billion
TABLE 45 US Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 46 US Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 47 US Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 48 US Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 49 US Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 50 US Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 51 US Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 52 US Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 53 Canada Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 54 Canada Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 55 Canada Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 56 Canada Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 57 Canada Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 58 Canada Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 59 Canada Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 60 Canada Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 61 Mexico Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 62 Mexico Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 63 Mexico Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 64 Mexico Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 65 Mexico Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 66 Mexico Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 67 Mexico Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 68 Mexico Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 69 Rest of North America Product Engineering Services Market, 2018 - 2021, USD Billion
TABLE 70 Rest of North America Product Engineering Services Market, 2022 - 2028, USD Billion
TABLE 71 Rest of North America Product Engineering Services Market by Service Type, 2018 - 2021, USD Billion
TABLE 72 Rest of North America Product Engineering Services Market by Service Type, 2022 - 2028, USD Billion
TABLE 73 Rest of North America Product Engineering Services Market by Organization Size, 2018 - 2021, USD Billion
TABLE 74 Rest of North America Product Engineering Services Market by Organization Size, 2022 - 2028, USD Billion
TABLE 75 Rest of North America Product Engineering Services Market by Vertical, 2018 - 2021, USD Billion
TABLE 76 Rest of North America Product Engineering Services Market by Vertical, 2022 - 2028, USD Billion
TABLE 77 Key information – IBM Corporation
TABLE 78 Key Information – Wipro Limited
TABLE 79 Key Information – Tata Consultancy Services Ltd.
TABLE 80 Key information – Accenture PLC
TABLE 81 Key Information – HCL Technologies Ltd.
TABLE 82 Key Information – Capgemini SE
TABLE 83 Key Information – ALTEN
TABLE 84 Key Information – Happiest Minds Technologies Limited
TABLE 85 Key Information – AVL List GmbH
TABLE 86 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