January 15, 2016 10:01 am | Updated 1 year ago.
Engineering services are an important part of different production houses. Companies are opting for engineering outsourcing services to reduce their cost of production. Technavios market research analysts have forecasted that engineering services outsourcing will grow at a CAGR of 27% till 2019.
A large population base has made India a haven for EOS. China, with a market share of 15% is also a favored destination for EOS (Engineering outsourcing services). India however has an edge over China because of its English-speaking population, stable political scenario, and liberal economic policies. Other preferred outsourcing markets are Philippines, Thailand, Malaysia, and Singapore.
The global EOS market is threatened with theft, misuse or loss of IP rights. Moreover, any work or innovation done cannot be owned by the worker. All the work carried out belongs to the third-party service provider.