United States Engineering Services Market Size

US Engineering Services Market Analysis

The United States Engineering Services market is expected to register a CAGR of 8.75% during the forecast period, 2022-2027. The study captures revenues from engineering services companies based in the United States. The engineering services covered under the scope include design and management services for construction, industrial process and equipment, environment projects, construction management services, project planning, economic assessments, asset management, quality management assessment, feasibility studies, environmental impact assessment, and community consultation, among others.

• One of the key driving factors of the market is digitalization, which has prompted businesses to demand modern IT solutions such as engineering analytics, the internet of things (IoT), and artificial intelligence (AI) to acquire a competitive advantage and sustain the company's momentum. This is due to the growing use of industrial IoT in various industry verticals, which has resulted in a surge in demand for engineering services to manage the complex connected infrastructure.
• For instance, in May 2022, Aecom stated that its Digital AECOM's PlanEngage platform is available on the Microsoft Azure Marketplace, an online marketplace for buying and selling cloud products certified to run on Azure. Digital AECOM brings together AECOM's global digital-focused consulting services, hosted services products to help customers accelerate their digital journeys and improve project outcomes, and digital technologies to improve its core engineering and design services delivery.
• Further, the government initiatives and significant investments are analyzed to bolster the demand for the engineering services market during the forecast period. For instance, in November 2021, The United States government passed the Bipartisan Infrastructure Act (Infrastructure Investment and Jobs Act), a significant investment in the country's infrastructure and competitiveness. This bipartisan infrastructure bill will repair America's roads, bridges, and rails, increase access to safe drinking water, ensure that every American has high-speed internet, address the climate crisis, advance environmental protection, and invest in populations that have been left behind, too often.
• To solve maintenance and repair backlogs, reduce congestion and emissions at ports and airports, and promote electrification and other low-carbon technologies, the Act invests USD 17 billion in port infrastructure and waterways and USD 25 billion in airports.
• During this time when the COVID-19 pandemic is various crippling industries, in the United States, public construction has been one of the few industries that have been maintained to some extent. Although activity will likely continue in the short-term, in the past, the work halted soon given various factors, including supply chains disruption, shortage of subcontractors and materials, and the termination of contracts to control expenses.