Lewes, DE -- (SBWire) -- 05/04/2015 --Report forecast the ESO market in India to grow at a CAGR of 30 percent over the period 2014-2019.
ESO refers to the outsourcing of specific engineering services. Engineering services are the core business activities of industries such as automotive and aerospace. However, due to lack of expertise and increased pressure to reduce costs, companies have started outsourcing their engineering services requirements. The need for quick delivery of products and services because of shorter product lifecycle has prompted the need for ESO. In addition, the inherent benefit of cost advantage remains a key criterion for businesses outsourcing their engineering services.
According to the report, businesses worldwide are cautious about cost management during the set-up of R&D facilities. India is the most preferable destination for ESO because of its cost advantage and high availability of skilled labor. Indian service providers get contracts from western countries including the US, the UK, and Germany because the cost of ER&D is low in the country compared to the west.
Further, the report states that issues pertaining to IP ownership are deterring some companies from outsourcing their engineering needs to the country.
ESO Market in India 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the market landscape and its growth prospects in the coming years. The report also includes the profiles of key vendors operating in this market.
Key players in Engineering Services Outsourcing (ESO) Market in India 2015-2019: HCL Technologies Ltd., Infosys Ltd., TCS Ltd. And Wipro Ltd.
Other Prominent Vendors in the market are: Altran, Aricent Group, Atos Origin, Auriga, Capgemini, Clasoft Labs India, Computer Sciences Corporation, Cybage Software, Dell, GlobalLogic, HP, IBM, iGate, Infotech, KPIT Cummins Infosystems, L&T IES, Mahindra Satyam, Mindfire Solutions, MindTree, QuEST Global Services, Sonata Software, Symphony and Tata ELXSI
Market driver
- Short time-to-market
- For a full, detailed list, view our report
Market challenge
- Lack of control over product development
- For a full, detailed list, view our report
Market trend
- Nearshoring
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2018 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 62 pages, "Engineering Services Outsourcing (ESO) Market in India 2015-2019" report covers Executive Summary, List of Abbreviations, Scope of the Report, Market Research Methodology, Introduction, Market Landscape, Market Segmentation by End-user, Buying Criteria, Market Growth Drivers, Drivers and their Impact, Market Challenges, Impact of Drivers and Challenges, Market Trends, Trends and their Impact, Vendor Landscape, Key Vendor Analysis.
For further information on this report, please visit- http://www.marketresearchreports.com/technavio/engineering-services-outsourcing-eso-market-india-2015-2019
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