10 Most Promising Engineering Design Providers
In today's globalized world, Original Equipment Manufacturers and product engineering companies face constant challenges in shortening New Product Innovation cycles, reducing development costs, and meeting the demands of emerging markets with the new products. Compounding the problem is a shortage of experienced engineers with the depth of industry knowledge. This is forcing enterprises to a continued shift in proportional spending toward emerging markets, a nascent reassessment of client strategies towards captive operations and increased maturity by client organizations in their approach to pricing services.
Market sources estimate that the global spending on engineering services was around $930 billion in 2012, and will reach $1.4 trillion by 2020—a 50 percent growth in less than a decade. To cash in this opportunity, the service providers are leveraging latest technologies to make their clients intelligent enterprises—by minimizing product development costs, enhancing capacity, and reducing time to market.
In the last few months we have looked at hundreds of Engineering service providers and shortlisted the ones that are at the forefront of tackling challenges faced by this industry.
In our selection we looked at the provider's capability to fulfill the needs of the clients in engineering sector through the supply of a variety of services including end-to-end design and engineering solutions ranging from new product development and introduction, technical documentation, and engineering design and analysis. We also looked at the provider's ability to maximize customer opportunity across the relationship life cycle with offerings needed to gain repeat business.
We present to you CIOReview's 10 Most Promising Engineering Service Providers 2014.