Engineering Services Market to Expand at a 3.7% CAGR by 2029, Reaching US $1318.58 Billion
The Business Research Company
The Business Research Company's Engineering Services Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, November 25, 2025 /EINPresswire.com/ -- How Much Is The Engineering Services Market Worth?
In recent years, the engineering services market size has seen a consistent growth. The growth is set to continue as the market size is projected to increase from $1110.15 billion in 2024 to $1141.89 billion in 2025, with a compound annual growth rate (CAGR) of 2.9%. Factors contributing to this growth during the historic period include heightened demand for industrial robots, escalating industrial automation, and the execution of industry 4.0.
The size of the engineering services market is projected to experience consistent expansion in the upcoming years. By 2029, it's forecasted to reach $1318.58 billion, growing at a compound annual growth rate (CAGR) of 3.7%. This projected increase during the forecast period is linked to the surge in digitalization, heightened need for IoT (internet of things) solutions in intelligent manufacturing, increased use of robots in construction, governmental investments in aviation, constant evolution of smart cities and swift uptake of innovative technologies. Key trends throughout the forecast period encompass a shift towards partnerships and collaborations, the incorporation of artificial intelligence, the application of blockchain technology, funding towards the progression of smart cities, investments in low-code development, a focus on eco-friendly building services and the implementation of the Industry 4.0 concept.
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What Are The Factors Driving The Engineering Services Market?
The engineering services market is predicted to expand due to the increasing incorporation of artificial intelligence. Engineering services encompass any creative or service-oriented work that necessitates education, training, and proficiency in applying specialist knowledge of the mathematical, physical, and engineering sciences. The introduction of artificial intelligence into these services can enhance efficiency, productivity, and profitability, while also bringing about new job positions and possibilities. As per the AI Index Report 2023 from Stanford University, a private research university in the U.S., the percentage of enterprises adopting AI in 2022 has more than doubled in the previous six years, although it has stabilized lately at around 50% to 60%. Hence, the continually increasing usage of artificial intelligence is fuelling the growth of the engineering services market.
Who Are The Major Players In The Engineering Services Market?
Major players in the Engineering Services include:
• AECOM
• WorleyParsons Limited
• Babcock International
• Fluor Corporation
• Bechtel Corporation
• Kiewit Corporation
• WSP Global Inc
• John Wood Group PLC
• NV5 Global Inc
• Arup Group
What Are The Key Trends And Market Opportunities In The Engineering Services Sector?
Leading firms in the engineering services sector, such as RICOH, are innovating to address the present healthcare staffing crisis caused by unprecedented industry burnout, by developing products like the RICOH Remote Patient Monitoring (RPM) Enablement. This product is a comprehensive managed services provision designed for health systems, aiming to facilitate more efficient and sustainable RPM workflows, thereby enhancing the experiences of patients and care delivery teams. A specific example of these developments was witnessed in October 2023, when US-based software firm, Ricoh USA Inc., unveiled their RICOH Remote Patient Monitoring (RPM) Enablement service. This service, which integrates seamlessly into existing virtual care programs, has been devised to assist healthcare providers in deploying remote patient monitoring devices, tracking inventory, streamlining logistics, and managing device returns. This initiative comes at a critical time when health systems are facing dual challenges of a significant shift towards virtual care delivery and an acute shortage of healthcare professionals.
Which Segment Accounted For The Largest Engineering Services Market Share?
The engineering services market covered in this report is segmented –
1) By Type: Civil Engineering Services, Electrical Engineering Services, Mechanical Engineering Services, Others Engineering Services
3) By Engineering Disciplines: Civil, Mechanical, Electrical, Piping and Structural Engineering, Other Engineering Disciplines
2) By End-User: Transportation Infrastructure, Other Infrastructure, Automotive, Industrial Manufacturing, Healthcare Sector, Aerospace, Telecommunications, Information Technology, Oil And Gas, Energy And Utilities, Other End-Users
Subsegments:
1) By Civil Engineering Services: Structural Engineering, Geotechnical Engineering, Transportation Engineering, Environmental Engineering, Construction Management
2) By Electrical Engineering Services: Power Systems Engineering, Telecommunications Engineering, Control Systems Engineering, Electronics Design Engineering, Lighting Design
3) By Mechanical Engineering Services: Product Design and Development, HVAC (Heating, Ventilation, and Air Conditioning) Engineering, Robotics and Automation, Thermal Engineering, Manufacturing Engineering
4) By Other Engineering Services: Chemical Engineering Services, Aerospace Engineering Services, Software Engineering Services, Industrial Engineering Services, Marine Engineering Services
View the full engineering services market report:
https://www.thebusinessresearchcompany.com/report/engineering-services-global-market-report
What Are The Regional Trends In The Engineering Services Market?
In 2024, North America held the greatest share in the engineering services market, followed by Western Europe. The regions quantified in the engineering services market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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