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Analysts forecast the automotive engineering services market to grow, a company press release states. This is a result of a rising demand for green engineering in the region.
Key companies in this market include Tata Consultancy Services, Infosys and HCL Technologies. The report cites availability of low-cost labor and inexpensive manufacturing capabilities are some of the key benefits boosting market growth.
An analyst from the Engineering team said: "The Manufacturing sector in the West is facing difficult times and it is looking for an economical cost structure as a survival strategy. With the existing crisis in the Manufacturing sector globally, manufacturers are gravitating toward India in search of inexpensive development and design solutions. India is also recognized as an emerging innovation location with a flexible talent pool and cost advantages. The design of a new product is an expensive process."
For a copy of the report, visit Research and Markets.
Jess Lulka is a former associate editor for Digital Engineering. Contact her via [email protected].
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