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Sep 03, 2020 (AmericaNewsHour) —
According to a new report published by Polaris Market Research the global engineering services outsourcing market is anticipated to reach more than USD 1.96 trillion by 2026. The major factors which are driving this market is the access to low cost highly skilled resources which can work towards complex tasks of not only designing and testing but also on validation, simulation and execution. Companies are moving from business process outsourcing to knowledge process outsourcing and major industry verticals such as automotive, consumer electronics, semiconductors, aerospace and telecom are providing huge opportunities to the consulting companies.
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The traction of offshore outsourcing can be seen owing to the low cost and added capabilities from the service providers. There are pureplay ESO service providers which are not only