As we enter 2023, global macroeconomic stability continues to remain uncertain. Forecasts of an impending recession are gripping businesses worldwide, compelling them to adopt a cautious outlook toward business growth in the coming year. Most organizations are focused on minimizing cost pressures in the face of growing inflationary pressures, especially as providers seek to increase bill rates. What sets this recession apart from previous ones is the significant talent demand and supply gap. For the past few years, the talent demand-supply gap has been a growing concern in the Engineering Services (ES) industry and is expected to persist even during the current recessionary environment. Moreover, as demand for services stabilizes after the high pent-up demand in 2022, the recessionary pressures are expected to impact the industry even more. Today, the challenge is to withstand these uncertain times while managing the talent gap.

In this report, we provide insights into how leading global enterprises have been impacted in 2022 and are planning to develop resiliency during this unpredictable period.

Scope

Services: engineering

All industries and geographies

Contents

In this report, we:

• Examine the top business challenges and critical changes to business models in 2022
• Present the outlook and priorities for 2023
• Discuss key themes defining the ES industry during these uncertain times
• Predict changes to provider portfolios and the significant provider-related challenges and priorities

Membership(s)

Engineering Services

Sourcing and Vendor Management