With the blooming outsourcing business, we need to widen our lenses and look outside the box. In this time of technology, other sectors can bring quality assured work to the table, besides IT and BPO, mechanical engineering services are also a stream where great business can happen. Here are few examples of Engineering Services that can be outsourced and its current market estimation below –
India has emerged largely as a strong outsourced services provider in the market for global companies as India accounts for 28% of Engineering Services Outsourcing (ESO) and BPO talent, whereas Russia and China account for 11% and 10%, respectively. As the demand for ESO increases worldwide, India’s share would also grow eventually in the ESO market. As of now, India produces 65,000 engineers annually. To reach a potential market share India would need 3,50,000 engineers.
India has an upper hand in many facets of outsourcing such as –
- Cultural compatibility with the west
- A vigorous legal and political systems
- A strong protection of intellectual property (IP)
For an ESO company, the business module obtained is for a smaller period. Therefore, ESO business providers need to be sure that they can survive the competition. The ESO business has witnessed a substantial growth from 2000 to 2010, majorly in the field of automotive, telecommunication and healthcare etc. Also, with technological advancement, the software that is used was user-friendly and technically sound. Some of the major factors that should be considered before selecting Engineering Service Providers (ESP) are –
- Expertise in the business
- Service portfolio
- Market value
- Quality of service provided
- ESO Services Evolution
With the growing needs and the new emerging complexities of the business, the company finds it easy to render outsourcing services. Outsourcing companies have shown the required potential to provide solutions within the brackets.
According to the Bureau of Labor Statistics, U.S. Department of Labor, the largest employers of mechanical engineers are as follows:
- Engineering, and related services – 22%
- Machinery manufacturing – 13%
- Transportation equipment manufacturing – 12%
- Scientific research and development services – 7%
- Computer and electronic product manufacturing – 7%
With changing scenario, the structure of the job keeps on changing with the advent of newer and more simplified technologies. But when it comes to Mechanical engineering it is here to stay!!! What comes to your mind when you think of Mechanical engineers? Mechanical engineering is not a new term to the millennials. It dates as back as 6000 BC, where Egyptians rock painting depicted boats! Yes, boats running on water. Such aesthetically simple and ordinary looking thing has a brain of an engineer and the latest invention as latest as 2014 is that of an Aeroboat – a boat which can fly like a jet across water with a speed of 109mph (175.42 km/h) and cost a whopping amount of 3 million euros! Mechanical engineering is a very vastly spread branch of engineering. It is a branch of engineering that deals with the making of machines. Machines used on a day to day household basis as well as in various other domains such as Aerospace, Automotive, Chemicals, Defense, Marine, Pharmaceuticals, etc. Mechanical services are mostly outsourced to overseas locations. However, many factors govern the outsourcing business especially the Intellectual property (IP). There is always a large amount of theft associated with IP. Eventually, there are many legal proceedings one must undergo to save the data from getting violated. However, serious aftereffects have to be faced when proven guilty.
ROLE OF INDOVANCE
Indovance is one of the finest outsourcing services providers to the global markets dealing in Mechanics. Sophistication in processes and expert human resources is the key, that drives in the success of every project at Indovance. Indovance is one of the fewer companies in the business that delivers excellent quality work in time. It’s been 16 long years of prolific performance in the mechanical sector alone with expertise in software like AutoDesk AUTOCAD, Inventor, SolidWorks, Unigraphics and more. Here are the 4 domains Indovance caters to in Mechanical Engineering –
How Does Outsourcing Work at Indovance?
Step 1 – Share Your requirement here and sit back, we will reach out to you ASAP.
Step 2 – Technical Feasibility will be checked in a formal discovery meeting considering your requirements.
Step 3 – Solution Architecture will be discussed and shared in detail not leaving any scope for errors.
Step 4 – Trial Period will begin for a month where you will experience Indovance.
Step 5 – After completion of trial period, long term partnership begins.