India product engineering services market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the continuous investment by the government on the manufacturing industry, with the government initiatives/subsidies for micro, small, and middle enterprises (MSMEs).  Moreover, the expansion of global market players to India due to ease in FDI (foreign direct investment) has increased the FDI inflows in the recent past. Therefore, a considerable rise in the adoption rate of product engineering services can be projected during the forecast period. However, the COVID-19 pandemic has considerably disrupted Indian economy, including manufacturing sector. Therefore, a product engineering services market is expected to foresee a decline in the market value in India in 2020. 

The product engineering services market on the basis of service, organization size, and end-use industry. Based on service, the market is segmented into product and component design, process engineering, maintenance, repair & operations, and others. The product and component design services segment is further classified into new product development, design support services, software engineering, hardware engineering, and others. Based on organization size, the market is bifurcated into small and medium enterprises (SMEs) and large enterprises. Based on end-use industry, the market is segmented into automotive, aerospace & defense, healthcare, energy & utilities, industrial manufacturing, and others. 

The India product engineering services market is influenced by product development and advancements conducted by the market players. The key players of the product engineering services market include IBM Corp., Accenture PLC, Damco Group, Wipro Ltd., Infosys Ltd., Pactera Technologies NA, Inc., Altran, IndiaT Global, Inc., and Tech Mahindra Ltd. These players are playing a significant role in the growth of the product engineering services market by providing various products and adopting several strategies such as merger and acquisition, partnerships and collaboration, technological development, and others. 

RESEARCH METHODOLOGY

The market study of the India product engineering services market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary sources include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation:

1. India Product Engineering Services Market Research and Analysis by Component
2. India Product Engineering Services Market Research and Analysis by Organization Size
3. India Product Engineering Services Market Research and Analysis by End-Use Industry

The Report covers:

• Comprehensive research methodology of the India product engineering services market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the India product engineering services market.
• Insights about market determinants which are stimulating the India market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.