Significant Cost Saving Continuing to Drive Engineering Outsourcing Market

TechNavio today published its report Global Engineering Service Outsourcing Market 2010-2014. The report discusses key trends impacting the growth of this market.

London, NY (prHWY.com) March 12, 2012 - TechNavio's report highlights that product development cost can be significantly reduced by a well-defined engineering outsourcing initiative. A cost benefit of 30-35 percent, compared with that obtained using an onsite contractor or maintaining an in-house team, can be obtained. The most preferred outsourcing destinations such as India and China provide 24/7 services to their clients, which leads to reduction in development time by almost 25-30 percent, thus helping firms to make a significant reduction in product development cost and time.

Commenting on the report, an analyst from TechNavio's IT Services team said, "For some years now, India has been the number one choice for the great majority of global engineering service companies. China, as a favorable outsourcing destination, is also on the rise. Through these destinations, the global firms get access to low-cost services and local talents. They offer precise domain knowledge and expertise. Companies from India and China are already responding to the increasing demand of the ESO market by development of domestic infrastructure and liberalizing government policies."

Key findings from the report:
* Increasing Attrition Rates
* Emerging Economies Drive ESO Growth
* Consolidation of Outsourcing Market

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.

TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit http://technavio.com/content/global-engineering-services-outsourcing-market-2010-2014

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ludmila@technavio.com
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Press Release Contact
Ludmila Berkesova
Program Manager
Technavio
8 Wimpole Street
W1G 9SP London UK

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