According to a report by Mordor Intelligence, the global engineering services market was valued at $1.6 trillion in 2023. The market is projected to grow at a compound annual growth rate (CAGR) of 4.2% to reach $1.96 trillion by 2028. Digital transformation is enabling businesses to optimize processes, enhance customer experiences, and gain data-driven insights by using cutting-edge technologies including Artificial Intelligence (AI) and cloud computing. The enhanced business capabilities are helping enterprises optimize revenue which is causing a surge in demand for engineering services. The digital transformation and development of digital infrastructure is expected to fuel the growth of the market during the forecast period.
Engineering services market growth is not even across the region. Some countries have strong, concentrated engineering services markets compared to others. Japan is one of the top five engineering services markets. Japan was valued at $90.6 billion in 2023. It is expected to reach $114.57 billion by 2028, at a CAGR of 4.81% during the forecast period. The development of the digital infrastructure of the country is expected to fuel market growth.
According to the US Bureau of Statistics (BLS), almost 188,000 job openings are projected each year, on average from 2022 to 2032 in engineering-related occupations. The overall employment in engineering professions is expected to grow faster than the average for all occupations during the forecast period. Computer hardware engineers, petroleum engineers, and aerospace engineers are the top three highest-paying engineering domains based on the annual median salaries.
Career Spotlight and Top Employers
Computer hardware engineers design and develop computer hardware and components. The employment for computer hardware engineers is expected to grow at 5% from 2022 to 2032 compared to the average for all occupations. The 5% employment rate corresponds to almost 4,600 openings being created every year during the forecast period. A Bachelor's degree is required for entry-level jobs in the industry.
Apple Inc (NASDAQ:AAPL) is one of the biggest companies tech hardware companies in the world. Apple Inc (NASDAQ:AAPL) hires top engineering talent to facilitate the development of innovative products. On December 11, Apple Inc (NASDAQ:AAPL) announced the launch of spatial video recording in iOS 17.2 for iPhone 15 Pro and iPhone 15 Pro Max users. Once enabled in settings, users can easily capture spatial videos. These videos can be viewed on various devices and will sync across devices with iCloud.
Petroleum engineers design and develop methods to extract petrol and gas from underground. A bachelor's degree is required for entry-level jobs in the industry. Employment of petroleum engineers is projected to grow 2% from 2022 to 2032, compared to the average for all occupations which will add 12,000 jobs annually. Shell PLC (LON:SHEL) hires petroleum engineers across the globe. The expansion of operations in different countries offers bright prospects for students seeking to join the company.
On December 23, Reuters reported that Venezuela has granted a 30-year license to Shell PLC (LON:SHEL). The license was signed, in light of the Dragon project by the government, between Venezuela, Shell PLC (LON:SHEL), and Trinidad and Tobago's National Gas Company. The Dragon project, signed in Caracas, allows an initial output of 185 million cubic feet per day of gas, to be sent to Trinidad for liquefied natural gas (LNG) and petrochemical production. Venezuela has the largest gas reserves in Latin America.
The employment rate of aerospace engineers will also experience a strong growth of 6% during the forecast period which will add almost 3,800 jobs annually. One of the biggest companies that hires aerospace engineers is Boeing Co (NYSE:BA). It is also expanding its operations and adding new countries to its lists of clients.
On December 8, Reuters reported that China's aviation regulator welcomed Boeing Co (NYSE:BA) to expand its presence in the Chinese market. The Civil Aviation Administration of China noted the longstanding positive relationship between China's civil aviation and Boeing Co (NYSE:BA). Boeing Co (NYSE:BA) has expressed eagerness to deepen cooperation and contribute to the development of the aviation industry in China.
Getting an engineering degree offers bright career prospects in a diverse range of fields. A large number of universities offer online engineering degree programs especially to facilitate students managing education with other commitments. We have made a list of the best online engineering degree programs heading into 2024.
25 Best Online Engineering Degree Programs Heading Into 2024
25 Best Online Engineering Degree Programs Heading Into 2024
Our Methodology
We have used a consensus methodology to make our list of the best online engineering degree programs heading into 2024. We consulted four sources, including Intelligent.com, Degree Choices, OnlineU, and Value Colleges. We extracted the names that appeared in at least 2 of the 4 sources. The methodology involved aggregating individual program ranks from each source and computing the average by dividing the sum of ranks by the number of sources in which a program was featured. The list has been arranged in descending order of the calculated average ranks and in ascending order of the number of mentions across sources.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
25 Best Online Engineering Degree Programs Heading Into 2024
25. Eastern New Mexico University
Number of Mention: 2
Average Ranking Across Sources: 24
Eastern New Mexico University offers several online engineering degree programs, including the Bachelor of Science in Electronics Engineering Technology. The degree program enables students to pursue their dream education remotely. The Eastern New Mexico University is accredited by the Higher Learning Commission.
24. Southern Illinois University at Carbondale
Number of Mention: 2
Average Ranking Across Sources: 19
Southern Illinois University at Carbondale has one of the best online engineering degree programs heading into 2024. The university offers a variety of online degree programs including a Bachelor of Science in Electrical Engineering Technology. Southern Illinois University at Carbondale is accredited by the Higher Learning Commission.
23. Indiana State University
Number of Mention: 2
Average Ranking Across Sources: 18.5
Indiana State University offers several online engineering degree programs, including a Bachelor of Science in Mechanical Engineering Technology. The online degree program has a flexible schedule. Indiana State University is accredited by the Higher Learning Commission.
22. Clemson University
Number of Mention: 2
Average Ranking Across Sources: 18.5
Clemson University offers several online engineering programs, including the Bachelor of Science in Electrical Engineering. The degree program requires 128 credits for completion. The online electrical engineering program is accredited by the Engineering Accreditation Commission.
21. Bemidji State University
Number of Mention: 2
Average Ranking Across Sources: 17.5
Bemidji State University offers an online Bachelor of Science in Applied Engineering degree program. The online degree program at Bemidji University is the best online engineering degree program heading into 2024. Bemidji State University is accredited by the Higher Learning Commission.
20. The University of Maine
Number of Mention: 2
Average Ranking Across Sources: 16
The University of Maine offers several online engineering degree programs, including completely online graduate and undergraduate certificates in Electrical Engineering Technology and Data Science. The University of Maine is accredited by the New England Commission of Higher Education.
19. Liberty University
Number of Mention: 2
Average Ranking Across Sources: 16
Liberty University has one of the best online engineering degree programs heading into 2024. The university offers an online Bachelor of Science in Civil Engineering. The program also includes on-campus intensives, providing students with the opportunity to visit the university's campus.
18. Kennesaw State University
Number of Mention: 2
Average Ranking Across Sources: 15
Kennesaw State University offers a variety of online engineering degree programs including a Bachelor of Science in Industrial Engineering Technology. The online degree program is accredited by the Engineering Technology Accreditation Commission of ABET. The lectures are pre-recorded and accessible at any time.
17. Tarleton State University
Number of Mention: 2
Average Ranking Across Sources: 13.5
Tarleton State University offers an online Master of Science in Quality and Engineering Management degree program. As an online Tarleton graduate student, you can participate in all recruiting activities including job fairs on the Stephenville campus. Tarleton State University is accredited by the Southern Association of Colleges and Schools.
16. University of Arizona
Number of Mention: 2
Average Ranking Across Sources: 12.5
The University of Arizona's College of Engineering offers a range of online graduate engineering programs, including Cybersecurity, Electrical & Computer Engineering, Engineering Management, and Industrial Engineering. The degree programs provide students with an in-depth understanding of engineering while preparing them for their future careers. The University of Arizona is a public institution accredited by the Southern Association of Colleges and Schools.
15. Western Carolina University
Number of Mention: 2
Average Ranking Across Sources: 12
Western Carolina University offers online engineering degree programs, including a Bachelor of Science in Engineering Technology and a Bachelor of Science in Engineering. The degree programs have a project-based learning model. The online engineering degree programs are accredited by the Engineering Technology Accreditation Commission of ABET.
14. Full Sail University
Number of Mention: 2
Average Ranking Across Sources: 12
Full Sail University has one of the best online engineering degree programs heading into 2024. The university offers online software engineering and computer science degree programs. The university's approach is centered on real-world industry experience and creative problem-solving.
13. Old Dominion University
Number of Mention: 2
Average Ranking Across Sources: 9.5
Old Dominion University offers an online Bachelor of Science in Engineering Technology with a major in Mechanical Engineering. The program is accredited by the Engineering Technology Accreditation Commission of ABET.
12. University of Arkansas
Number of Mention: 2
Average Ranking Across Sources: 8.5
The University of Arkansas offers several online engineering degree programs, including a fully accredited Master of Science in Engineering and a Master of Science in Engineering Management. The university is accredited by the Higher Learning Commission.
11. University of Southern Mississippi
Number of Mention: 2
Average Ranking Across Sources: 7.5
The University of Southern Mississippi offers an online Bachelor of Science in Industrial Engineering Technology. The online degree program is comprehensive and meets all objectives of the on-campus degree. The university is accredited by the Southern Association of Colleges and Schools.
10. University of North Carolina at Charlotte
Number of Mention: 2
Average Ranking Across Sources: 6
The University of North Carolina at Charlotte offers a range of online engineering degree programs, including a Bachelor of Science in Engineering Technology. It has the best online engineering degree programs heading into 2024. The program is accredited by the Engineering Technology Accreditation Commission of ABET.
9. American Public University System
Number of Mention: 2
Average Ranking Across Sources: 4
The American Public University System offers online engineering degree programs, including a Bachelor of Engineering in Electrical Engineering. The degree program is designed to help students build applicable skills useful in practical fieldwork.
8. National University
Number of Mention: 3
Average Ranking Across Sources: 14
National University offers a variety of online engineering degree programs, including Electrical and Computer Engineering, Information Systems, Manufacturing Design Engineering, and Engineering Management degree programs. The university is accredited by the WASC Senior College and University Commission.
7. Lamar University
Number of Mention: 3
Average Ranking Across Sources: 9.7
Lamar University offers a range of online engineering degree programs, including Bachelor's and Master's programs in Electrical Engineering. Lamar University is accredited by the Southern Association of Colleges and Schools Commission on Colleges. The university also welcomes transfer students online.
6. The University of Alabama
Number of Mention: 3
Average Ranking Across Sources: 9
The University of Alabama offers a variety of online engineering degree programs, including Bachelor's and Master's degrees in fields such as Manufacturing Systems Engineering. The degree program is designed to help students build successful careers in the manufacturing industry. The University of Alabama is accredited by the Southern Association of Colleges and Schools Commission on Colleges.
