October 29, 2005
Product Engineering Services: The new vertical in Outsourcing
The outsourcing industry is gaining new ramifications with its maturity. The latest development is product engineering services (PES), which are connected with the creation of a fresh product and enhancing its output and lifespan. Several IT companies in India have invested in this emerging trend in outsourcing, including Patni Computer Services, Tata Consultancy Services, and Wipro Ltd. Wipro has a 10,000 workforce to meet this trend, while Patni has 1,600 engineers.
PES is likely to build upon the semiconductor chip market, automotive industry, medical electronics, and computing requirements. According to a Nasscom estimate, PES outsourcing will account for a business worth $8-11 billion by 2008. Business Standard reports:
Common enterprise management applications and technology platforms have driven information integration to include engineering of products and production facilities, and efficient management of capital assets and production. The country's advantage lies in its ability to deliver technology services to global customers at great value and speed. India also has a vast pool of engineering and scientific talents, which can be tapped for the growth of the sector.
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