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.

Top Engineering Companies

Providing unparalleled, multi-shore, low-cost, engineering services in product development, computer-aided-engineering, manufacturing engineering and knowledge-based-engineering

Hi-Tech offers specialized engineering services in the areas of Architecture and Industrial Design for select industry segments

A provider of ground, range equipment and enterprise engineering services for civil, commercial aerospace and defence programs, as well as intelligence communities

L&T Technology Services offers a diverse set of engineering services, spanning many verticals with over 9500 highly skilled engineers, spread across nearly 30 locations around the globe

Provides services and solutions covering all phases of the product development life cycle for aerospace and defense, oil and gas, transportation and energy/power industries

A provider of high quality engineering support solutions to EPC companies in Oil and Gas, Petrochemicals, Power, Fertilizers and Wastewater industries

Offers consulting support to identify engineering best practices

A technology solutions provider serving global corporations in their pursuit for faster innovation and technological excellence

Offering cost-effective design solutions and quick turnaround times with the ease, efficiency and clear communication of personalized local account representation

A provider of mobility solutions for the enterprises