The mechanical engineering services market is growing at an average annual rate of about 8-9%. Analysis of the factors influencing leadership in mechanical engineering services shows a clear shift towards integration with innovative informational technologies. In the context of the ongoing pandemic, the key market trends are the growth of environmental awareness, alternative fuels, renewable energy sources, artificial intelligence, electronic components, and communication technologies.
The increase in the products’ market value will be associated with the introduction of Web 2.0 technologies into mechanical designs and the provision of SaaS. The adoption of automation will lead to more valuable products.
Transformation of the Global Engineering Services Market
Engineering refers to the process of designing, innovating, developing, deploying, and testing a product. Design services include engineering consulting, various hardware, embedded, software, and IT solutions to improve product profitability. The technical mechanical engineer focus is to reduce time to market and production costs without compromising quality.
According to the Data Bridge forecast, technological factors will strongly influence the global market in 2021.
Drivers of the process:
- Growing demand for shorter development term until market release;
- The continuous need for innovation and technological modernization in mechanical engineering services;
- Growing demand to reduce designing and manufacturing costs;
- Increasing rates of R&D by SMEs;
- The spread of the Internet of Things (IoT).
- Manufacturers’ fear of losing control of intellectual property rights;
- Cultural differences in product philosophy and design.
Companies that specialize in these services provide personalized technology and products, offer refactoring of mechanical engineer design of existing solutions, develop innovative goods, and ensure that products meet global requirements. In particular, Sirin Software provides a wide range of practical Embedded Linux and IoT solutions to customers in the US, Europe, and Asia.
Shift Towards Advanced Connected Technologies
IoT has finally established itself among technologies in mechanical engineering, despite the still unresolved problems of end-to-end information security. Individual countries are adopting laws to protect and control IoT devices. Companies are building strategies to increase the availability and functionality of products.
The most used are energy and utility service devices. Next are monitoring and premise equipment management systems. The use of the IoT starts from automating the energy distribution grids up to smart home appliances for various purposes. This is followed by transport, communications, healthcare, agriculture, and other industries.
For instance, the modified LoRa smartwatch communication standard provides precise global positioning, eliminating errors when working with different network infrastructure and transport mediums. The solution reduced the device’s power consumption by 60%, streamlined the SKU configuration process, improved communication between the device and the server, GPS accuracy, and allowed the compatible products to enter the international market.
In the areas where the Internet of Things has found application, outstanding economic results have already been achieved.
IoT Development Forecast
We can confidently say that the breadth of IoT’s use will only grow. Mechanical engineering companies provide new products with network connection capabilities using 5G and Wi-Fi 6. Consumers will receive smart monitors with a multimodal design. These technologies will develop most rapidly, including personal and corporate use.
Simultaneously, the best companies for mechanical engineering will develop software products making it simpler to adapt such control devices to different situations. They will also be used more widely to transform the supply chain and improve customer service.
The most massive increase in investment can already be noted in the following areas:
- Automation of airports, train stations, parking lots, and production facilities;
- Charging of electric cars;
- Monitoring in the agricultural sector;
- Contextual marketing at points of sale.
Ecosystems of related services will emerge. Technologies in mechanical engineering will result in products able to exchange information between the end-user and manufacturer directly. Large service providers will move to offer end-to-end IoT products within unified ecosystems.
Choosing suitable mechanical engineering companies to design and outline your ideas is not easy. Experience in networking, storage, cloud computing, building automation, drivers, IoT, etc., must be assessed. To create unique scalable and easy-to-deploy solutions, the best professional teams must work on them, focused on a flexible approach to hardware and software delivery upon strict deadlines. You will find that we satisfy all of these requirements.
Bring your ideas to life with Sirin Software’smechanical engineering services, and innovate the whole markets, not separate products!