Engineering Services Market Share Growth (2020-2023): The Role of Globalization and Outsourcing

Globalization and outsourcing have played a crucial role in reshaping the engineering services market between 2020 and 2023. Indian ESPs have seen substantial growth due to increased outsourcing from North America and Europe. Global MNCs have maintained their lead by integrating AI-driven solutions, while European Pureplays have carved out a niche in high-quality, specialized engineering. This report examines the impact of globalization and outsourcing on market share distribution. It highlights the key strategies adopted by leading players and the opportunities available for businesses looking to expand their footprint. Understanding these trends can help companies make informed decisions in an increasingly interconnected global market.