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Slide 1: Engineering Services Outsourcing: Gearing Up For The Competitive Market In technologically enabled industrial world, engineering services represent the largest sector. These services comprise of design and support services that is essential in functioning of every industry. The economic downturn and the aggressively competitive market conditions have led to significant portions of these services to be outsourced. A survey conducted shows the engineering services outsourcing to reach a $ 200 Billion mark by 2020, wherein the traditional design and manufacturing make up for the larger chunk of the outsourced market. Engineering Services Outsourcing paves way for a risk free and faster development of innovative and advanced engineering products. To achieve this, the leaders in engineering services outsourcing provide their clientele resources that augment in-house availability. Further with their years of experience in aerospace, civil structures, power generation, industrial products, oil and gas and transportation they offer expertise in design, detailing and analysis, product realization, creation of technical documentation, embedded systems and Plant & Process. To cater for a global clientele and original equipment manufacturers, these services providers gave set up global product development centers. The industrial engineering service sectors, manufacturers of aerospace and automotive equipment as well as the oil and gas-engineering companies around the world are faced with challenges of increasing engineering capabilities for shorter product lifecycles and competitive pricing to meet the growing demands of the customers. With globalization paving way for decentralized engineering operations design, development or manufacturing processes are today distributed to regions with talent availability adds to cheap labor costs. However, engineering outsourcing services is not just about cutting costs, but involves most importantly constant innovation, top-notch quality, research and development, state-of-the-art infrastructure and a qualified professionals. With changes in today’s outsourcing requirements, the leading service providers have also evolved as providers of specialized services and make use of web technologies to their benefit. Further, with its array of benefits which includes systematic approach, ability to focus on core activities, manpower flexibility, aftermarket support, a 30% to 50% savings on labor costs and a 20% to 30% savings on the overall development lifecycle by integrating supply chain and procurement activities, it enhances profitability of the company. Click here for more on SEZ