The Evolution of Engineering Services Market Share (2020-2023): Analyzing Industry Transformations

Market share changes in the engineering services sector from 2020 to 2023 have been driven by digital innovation, automation, and shifting economic conditions. Indian ESPs have capitalized on increasing global demand, offering cost-efficient and scalable solutions. Global MNCs continue to lead the industry, investing in AI-driven engineering and cloud technologies to enhance efficiency. European Pureplays, despite facing challenges, remain competitive through high-quality services and strategic partnerships. This report examines how market share distribution has evolved over four years, focusing on industry growth patterns and competitive strategies. The analysis includes insights into how companies have responded to global challenges and adapted to new technologies. With data-backed insights and trend analysis, this report provides a clear understanding of the market dynamics that are shaping the future of engineering services.