The global product engineering services market size is anticipated to reach USD 1,814.15 billion by 2030 and is expected to expand at a CAGR of 6.4% during the forecast period, according to a new report by Grand View Research, Inc. The market is being driven by a surge in demand for innovation and accelerated product development across industries.

As businesses strive to reduce time-to-market and enhance product quality, the need for specialized engineering services has intensified. These services enable companies to streamline design, prototyping, testing, and deployment processes, improving operational efficiency and competitiveness. The increasing complexity of products—especially in sectors such as automotive, healthcare, and consumer electronics—has further underscored the importance of expert engineering capabilities.

Digital transformation initiatives are also pivotal in shaping the market landscape. The adoption of advanced technologies such as artificial intelligence, the Internet of Things (IoT), cloud computing, and automation is reshaping how products are conceived and manufactured. Product engineering services increasingly leverage these technologies to deliver smarter, more adaptive solutions that meet evolving customer expectations. This shift is particularly evident in the rise of Industry 4.0, where intelligent systems and data-driven insights are central to innovation and performance optimization.

Additionally, the proliferation of smart cities and the growing emphasis on embedded systems and semiconductor technologies contribute to market expansion. These developments demand sophisticated engineering solutions supporting high-performance, scalable, and sustainable infrastructure. Small and medium enterprises (SMEs), particularly, are emerging as key contributors to market growth, driven by their focus on agility, cost-efficiency, and rapid innovation. As global industries embrace digitalization and customer-centric design, the product engineering services market is poised for sustained and dynamic growth.

Order a free sample PDF of the Product Engineering Services Market Intelligence Study, published by Grand View Research.

Further key findings from the report suggest:

  • Based on service, the product engineering segment dominated the market with a revenue share of over 47% in 2024.
  • Based on enterprise size, the large enterprises segment accounted for the largest market share in 2024.
  • Based on industry, the automotive segment accounted for the largest revenue share in 2024.
  • The North America product engineering services market accounted for the largest revenue share of over 40% in 2024.
  • The product engineering services market in the U.S. is expected to grow at a CAGR of over 4% from 2025 to 2030.

Product Engineering Services Market Segmentation

Grand View Research has segmented the global product engineering services market based on service, enterprise size, industry and region:

  • Service Outlook (Revenue, USD Billion, 2018 - 2030)
    • Product Engineering
    • Process Engineering
    • Maintenance, Repair & Operations
    • Others
  • Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)
    • Large Enterprises
    • Small & Medium Enterprises
  • Industry Outlook (Revenue, USD Billion, 2018 - 2030)
    • Automotive
    • Healthcare & Life Science
    • Manufacturing
    • BFSI
    • Retail & Consumer goods
    • Aerospace & Defense
    • IT & Telecom
    • Others      
  • Regional Outlook (Revenue, USD Billion, 2018 - 2030)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • UK
      • Germany
      • France
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
    • Latin America
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • UAE

List of Key Players in the Product Engineering Services Market

  • Wipro Limited
  • Innovify Ventures Limited
  • Cognizant Technology Solutions Corporation
  • Infosys Limited
  • Tata Consultancy Services Limited
  • Accenture plc
  • Capgemini SE
  • Tech Mahindra Limited
  • Persistent Systems Limited
  • HCL Technologies Limited

About Grand View Research:

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058
Email:  sales@grandviewresearch.com