Engineering Service Startups

In the past decade, India’s engineering sector has witnessed tremendous growth, backed by increased investment in new technological infrastructure and industrial production. Also, with digitalization sprawling across the industries, be it civil, electrical, mechanical, piping, or structural engineering, the significant rise in the RoI amidst the engineering services sector is exemplary. Moreover, the global spending by engineering groups on research and development is also expected to rise this year, which will ultimately reduce the outsourcing of engineering services leading to in-house business expansion in the country. This growth can be further seen settling, according to the recent report of Business Research company, which accounts for $1383.41 billion engineering services market by 2026, growing at a CAGR of 6.6 percent.

The new-age technologies like IoT, Big Data, Data Analytics, Cloud computing, Robotics, Artificial intelligence, AR/VR, 3D printing, and more are the major forefronts furthering this growth. It is this continuous pace of advancement in technology adoption by businesses that is leading to the inception of more & more companies, respectively burgeoning the startups in the engineering services landscape, be it on the product services end or IT services. Various companies across industries are drawing help from these engineering services providers for getting assisted strategically through technology implementation at every stage of business planning and execution. Also, they are the technical science and R&D experts revolutionizing this engineering landscape, leveraging their prowess and expert knowledge in the industry to help India recognize itself as one of the most preferred engineering technology services providers worldwide. And, this aggrandizing engineering services industry is never going to limit its horizon, in fact there is much more to be explored and experienced.

Industry Outlook in this issue presents a list of ‘Top 10 Engineering Service Startups – 2022’ who have leveraged their extensive industry expertise and experience in bringing innovative solutions in the transportation industry. The following list has been prepared after being closely scrutinized by a distinguished panel of judges including CXOs, analysts and our editorial board. We recognize their valuable contribution to the ever expanding and competitive market and their ability to sustain themselves and emerge as top contestants through their reliable services.