ENGINEERING SERVICES OUTSOURCING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In August 2024, WSP Global, a Canadian engineering and professional services firm, announced plans to acquire U.S.-based POWER Engineers for $1.78 billion. This acquisition aimed to enhance WSP's consulting capabilities amid growing investments in energy transition globally.
• In September 2024, TCS reported that the integration of generative AI significantly boosted productivity in its engineering research and design sector, accelerating product development cycles by up to 20%. This advancement benefited high-profile clients, including Rolls Royce and Jaguar Land Rover.
• In May 2024, Keywords Studios, originally focused on localization services, expanded into the engineering sector through a series of acquisitions, enhancing its position in the video game industry.
• In June 2024, Colliers International Group agreed to acquire a controlling interest in Englobe, a Canadian multi-discipline engineering and environmental services firm, for USD 475 million. This move marked Colliers' entry into the Canadian engineering services market.