Investment incentives for the growth of the engineering services market

Modern transformational changes in the economy, innovation, and digitalization trends necessitate studying the challenges of creating effective investment incentives for the development of the engineering services market. The article examines investment incentives for the growth of the engineering services market. The peculiarities of engineering as a specific type of production and economic activity are characterized. The principles on which modern activity in the field of engineering is based are substantiated. A segmental analysis of the engineering services market was conducted, revealing that, in a global context, engineering services span a wide range of industries. It was determined that most engineering projects are implemented mainly in economically developed regions of North America, Europe, and Asia. In a global context, engineering services cover a wide range of industries, from construction to aerospace, automotive, and high-tech industries. Investment incentives for the growth of the engineering services market are substantiated. It was determined that the market of engineering services in modern conditions is a strategically important segment that forms the basis for the technological renewal of production, the development of innovations and integration into global chains of creation of added value, and its growth largely depends on the presence of effective investment incentives that can ensure the expansion of capital, modernization of infrastructure and introduction of new technologies. It was determined that investment activity is a key factor in expanding the range of engineering solutions, improving their quality and accessibility for business and the public sector. The problems and priority directions of the development of the engineering services market in Ukraine are analyzed. It is substantiated that the intellectualization of engineering enterprises’ activities in the digital transformation should aim not only to integrate innovative solutions into business processes and introduce the latest digital technologies, but also to comprehensively develop intellectual capital. Keywords: investment incentives, engineering, engineering services, market of engineering services, innovative trends.