Monday, 23 July 2012 11:47
Frost and Sullivan's latest study (2011) states that the automotive engineering services market in
India is expected to touch $102 million by 2015 as against $74.4 million registered in 2009 with
a CAGR of 7.9%.
Moreover, NASSCOM (2006), report suggests that global spending for engineering services and
PLM was approximately $750 billion in 2006, however by 2020 this spending is expected to
grow to more than $1 trillion. It is also estimated that by 2020 25% to 30 % of much larger $150
to $225 billion market for off-shored engineering services could belong to India (which is $50
billion in annual revenue).
Both these reports reinforce that Engineering services and PLM are not only a huge market in
India but are also expected to grow manifolds.
This implies great career opportunities for Engineering students. Besides the growing
indigenous MNCs such as TATA, and M&M, with the Global automotive companies such as
VW, Audi, BMW, Benz having already made an entry in India and built an extensive Tier1
and Tier 2 supplier networks, the demand for mechanical engineers trained on the CAD/
CAM/CAE and PLM software is experiencing a gigantic surge in not just OEMs but also with
their empowered suppliers who hold a significant place, responsibilities and tasks in product
development process.
This fast surging PLM Market would create endless lucrative opportunities for the aspiring
engineers to capitalize on and make the most of this booming market. However, the studies also
indicate that approximately, 2,50,000 mechanical engineering graduates pass out of Engineering
colleges in India every year, out of which merely less than 25% are employable because they
lack the necessary skill set to meet industry requirements. These studies highlight and reiterate
the disparity and wide gap between what students are taught in our education system vis-a-vis
the industry standards and expectations.
The pressure of competition and the need to match the ever rising industry expectations has
necessitated students to take extra efforts to attain valuable knowledge which would not only
give them a competitive edge but also provide a strong foundation to build a bright future upon.
So what are the critical success factors for the students?
• It is essential for students to continuously update their knowledge about the latest
industry trends, processes, and mechanisms. Obsolete knowledge outdates your career
prospects. So keep your eyes and ears open and absorb anything and everything that
is related to your field of career option through industrial or engineering magazines,
seminars, internet, news, etc.
•
It is also crucial for the students to not just be updated with the latest happenings in their
industry or area of interest, but it is equally necessary for them to upgrade, build and/or
develop new skill sets that are in demand in the industry. e.g - acquire training on latest
CAD/CAE software from a reputed and recognized institute.
• Theoretical knowledge is very important but unless you don't understand how and
where to apply that knowledge, it really is not that helpful. So students should take
efforts to develop an understanding about industry specific applied knowledge which
could a major distinguishing factor for them. They can do so through taking additional
engineering workshops, internships with the companies or learn the CAD/CAE software
at the institute that imparts training with the real components in hand and give you an
exposure to or enrich you through the training on real industrial projects on latest version
of licensed software. Empirical learning or a personal 'Hands-on' experience of working
on real project with real components is unmatched and gives you a thorough theoretical
and practical understanding of the topic at hand and thus gives you an edge over others.
• Always remember that companies have space for both - Jack of all trades, and masters
in specialized trades. But students who don't have some knowledge of everything, or
students who don't have in-depth knowledge of a specialized skill/domain/area of work,
find it very difficult to create and make a space for themselves in today's world. So just
going to engineering colleges and not taking extra efforts outside the college to update
knowledge or upgrade skill set is going to restrict your career growth - one track mind
reverses or restrains progress. Multifaceted skills and knowledge give your career a better
and bigger shine.
Saying this, it is also essential for parents and teachers to support children in their career and
guide them and show them the right path whenever they feel lost, confused or are unable to
make a decision. Life of students is much harder today than it used to be a decade ago. the
rising competition, pressure of building a career in the cut throat industry, higher industry
expectations, and fast paced and rapidly changing world of today has burdened their minds
with additional stress.
More often than not, it is not just the students and freshers who need to update their
knowledge and upgrade their skills sets, but this very much applies to the working
professionals as well. In this fast changing world, the skills sets of working professionals
soon become redundant. As the new technology or the new software is introduced in the
industry, there is a greater demand for the people trained on or having a knowledge about
that software/technology. Then the people working on the older versions of the technology
or software soon realize that their space has now been taken away and the only way to retain
their position in the company and to keep the career graph on the upward trend they now
have to develop new skills sets and be abreast with the latest knowledge. Your knowledge
and skills sets need to be in-sync with and grow at the same pace as the industry you work in,
or else you may be left behind while the world zooms past you.
About DesignTech Systems.
DesignTech Systems Ltd. is a leading CAD/CAM/CAE and PLM solutions provider in India. With offices
spread across the country, it has served to more than 2000 customers across various domains in India
and overseas. DesignTech also has a very strong Engineering Services practice and provide services to
many manufacturing companies in India and abroad. DesignTech has been adjudged as top 50 Emerge
companies by Nasscom. DesignTech was recipient of prestigious Maharashtra I.T.Award by Govt. of
Maharashtra.
Frost and Sullivan's latest study (2011) states that the automotive engineering services market in
India is expected to touch $102 million by 2015 as against $74.4 million registered in 2009 with
a CAGR of 7.9%.
Moreover, NASSCOM (2006), report suggests that global spending for engineering services and
PLM was approximately $750 billion in 2006, however by 2020 this spending is expected to
grow to more than $1 trillion. It is also estimated that by 2020 25% to 30 % of much larger $150
to $225 billion market for off-shored engineering services could belong to India (which is $50
billion in annual revenue).
Both these reports reinforce that Engineering services and PLM are not only a huge market in
India but are also expected to grow manifolds.
This implies great career opportunities for Engineering students. Besides the growing
indigenous MNCs such as TATA, and M&M, with the Global automotive companies such as
VW, Audi, BMW, Benz having already made an entry in India and built an extensive Tier1
and Tier 2 supplier networks, the demand for mechanical engineers trained on the CAD/
CAM/CAE and PLM software is experiencing a gigantic surge in not just OEMs but also with
their empowered suppliers who hold a significant place, responsibilities and tasks in product
development process.
This fast surging PLM Market would create endless lucrative opportunities for the aspiring
engineers to capitalize on and make the most of this booming market. However, the studies also
indicate that approximately, 2,50,000 mechanical engineering graduates pass out of Engineering
colleges in India every year, out of which merely less than 25% are employable because they
lack the necessary skill set to meet industry requirements. These studies highlight and reiterate
the disparity and wide gap between what students are taught in our education system vis-a-vis
the industry standards and expectations.
The pressure of competition and the need to match the ever rising industry expectations has
necessitated students to take extra efforts to attain valuable knowledge which would not only
give them a competitive edge but also provide a strong foundation to build a bright future upon.
So what are the critical success factors for the students?
• It is essential for students to continuously update their knowledge about the latest
industry trends, processes, and mechanisms. Obsolete knowledge outdates your career
prospects. So keep your eyes and ears open and absorb anything and everything that
is related to your field of career option through industrial or engineering magazines,
seminars, internet, news, etc.
•
It is also crucial for the students to not just be updated with the latest happenings in their
industry or area of interest, but it is equally necessary for them to upgrade, build and/or
develop new skill sets that are in demand in the industry. e.g - acquire training on latest
CAD/CAE software from a reputed and recognized institute.
• Theoretical knowledge is very important but unless you don't understand how and
where to apply that knowledge, it really is not that helpful. So students should take
efforts to develop an understanding about industry specific applied knowledge which
could a major distinguishing factor for them. They can do so through taking additional
engineering workshops, internships with the companies or learn the CAD/CAE software
at the institute that imparts training with the real components in hand and give you an
exposure to or enrich you through the training on real industrial projects on latest version
of licensed software. Empirical learning or a personal 'Hands-on' experience of working
on real project with real components is unmatched and gives you a thorough theoretical
and practical understanding of the topic at hand and thus gives you an edge over others.
• Always remember that companies have space for both - Jack of all trades, and masters
in specialized trades. But students who don't have some knowledge of everything, or
students who don't have in-depth knowledge of a specialized skill/domain/area of work,
find it very difficult to create and make a space for themselves in today's world. So just
going to engineering colleges and not taking extra efforts outside the college to update
knowledge or upgrade skill set is going to restrict your career growth - one track mind
reverses or restrains progress. Multifaceted skills and knowledge give your career a better
and bigger shine.
Saying this, it is also essential for parents and teachers to support children in their career and
guide them and show them the right path whenever they feel lost, confused or are unable to
make a decision. Life of students is much harder today than it used to be a decade ago. the
rising competition, pressure of building a career in the cut throat industry, higher industry
expectations, and fast paced and rapidly changing world of today has burdened their minds
with additional stress.
More often than not, it is not just the students and freshers who need to update their
knowledge and upgrade their skills sets, but this very much applies to the working
professionals as well. In this fast changing world, the skills sets of working professionals
soon become redundant. As the new technology or the new software is introduced in the
industry, there is a greater demand for the people trained on or having a knowledge about
that software/technology. Then the people working on the older versions of the technology
or software soon realize that their space has now been taken away and the only way to retain
their position in the company and to keep the career graph on the upward trend they now
have to develop new skills sets and be abreast with the latest knowledge. Your knowledge
and skills sets need to be in-sync with and grow at the same pace as the industry you work in,
or else you may be left behind while the world zooms past you.
About DesignTech Systems.
DesignTech Systems Ltd. is a leading CAD/CAM/CAE and PLM solutions provider in India. With offices
spread across the country, it has served to more than 2000 customers across various domains in India
and overseas. DesignTech also has a very strong Engineering Services practice and provide services to
many manufacturing companies in India and abroad. DesignTech has been adjudged as top 50 Emerge
companies by Nasscom. DesignTech was recipient of prestigious Maharashtra I.T.Award by Govt. of
Maharashtra.
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Mechanical engineering is a traditional branch of engineering if planned carefully could lead into very rewarding careers.
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