Technavio's latest offering, Technavio has announced its latest market research report titled Engineering Services Outsourcing Market by Sourcing, End-user, and Geography - Forecast and Analysis 2021-2025 The engineering services outsourcing market is estimated to grow by USD 187.99 billion during 2021-2025, growing at a CAGR of almost 23%. Market Dynamics Factors such as cost savings from lower labor wages, reduced time to market, and improved access to emerging markets will be crucial in driving the growth of the market. But the risk of intellectual property theft and misuse will restrict the market growth. Growing focus on core competencies and the lack of in-house expertise will have a positive impact on the market. On the other hand, growing concerns over loss of business control and management of dispersed teams are huge challenges in the industry.