Engineering Services Market Trends (2020-2023): The Future of Competition in a Changing Industry

The engineering services market has evolved significantly from 2020 to 2023, with major changes in market share distribution. Indian ESPs have capitalized on global demand by offering efficient, cost-effective engineering services. Global MNCs continue to dominate the sector, investing in AI-driven automation and cloud-based engineering. European Pureplays have maintained their niche presence by delivering specialized, high-quality solutions. This report analyzes the latest trends shaping market competition, including the rise of digital twins, sustainability initiatives, and the impact of automation. It provides valuable insights for industry professionals and investors looking to understand the future of the engineering services industry.