High adoption of advanced technologies in manufacturing will escalate North America product engineering services market

North America product engineering services market is projected to grow at a significant CAGR of around 9.5% during the forecast period (2020-2026). The growth of the product engineering services market in North America is backed by the rising adoption of advanced technologies in the manufacturing sector in the US. The country is regarded as the major user of advanced technologies, such as AI, smart manufacturing, and IoT, in the manufacturing industry. Owing to which, the technologically advanced product engineering services, such as AI-based product engineering services finds its significant market value in North America, especially in the US. 

Browse the full report description North America Product Engineering Services Market Size, Share & Trends Analysis Report by Component (Product and Component Design, Process Engineering, Maintenance, Repair & Operations, and Others), by Organization Size (Small and Medium Enterprises (SMEs) and Large Enterprises), and by End-Use Industry (Healthcare, Automotive, Aerospace & Defense, Energy & Utilities, Industrial Manufacturing, and Others) and Forecast 2020-2026 at https://www.omrglobal.com/industry-reports/north-american-product-engineering-services-market

The presence of large enterprises, with the continuous establishment of manufacturing units in the US, is expected to propel the adoption rate of advanced technology based product engineering services in the country. IBM Corp., a US-based IT company, is one among the major market player across the globe. With the presence of advanced technology provider in the US, the market for product engineering services is expected to witness a considerable growth during the forecast period. Even, the global market players are expected to launch their technology based product engineering services in North America, with an aim to attract the large consumer base of advanced technologies in manufacturing industry.

Market Coverage

Key questions addressed by the report

• What is the market growth rate during the forecast period?
• Which segment/region dominates the market in base year?
• Which segment/region will project fastest growth in the market during the forecast period?
• How COVID-19 will impact the market growth in 2020 and coming years?

o Recovery Timeline

o Deviation from pre-COVID-19

o Most affected segment/region

o Recommendations 

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

North America Product Engineering Services Market – Segmentation

By Service

• Product and Component Design

o New Product Development

o Design Support Services

o Software Engineering

o Hardware Engineering

o Others 

• Process Engineering 
• Maintenance, Repair, and Operations
• Others 

By Organization Size

• Small and Medium Enterprises (<1000 Employees)
• Large Enterprises (>1000 Employees)

By End-Use Industry

• Healthcare
• Automotive
• Aerospace & Defense
• Energy & Utilities
• Industrial Manufacturing
• Others 

North America Product Engineering Services Market – Segmentation

• US
• Canada