Summary
The global Engineering Research And Development Outsourcing Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
The term engineering research & development outsourcing refers to the process of bringing an expertly managed production process together with innovative ideas that help the firm that employs it to grow in the right direction. These specialized services are required for many businesses of all kinds. For instance, an organization that needs to develop new products or improve on existing ones would need to hire a set of experts that can come up with new ideas that will make their job easier. Likewise, they could come up with some innovative methods to ensure that the finished product meets the specifications of their client. On the other hand, they might find ways to reduce costs or improve the productivity of the company overall. Outsourcing these services has become a common practice in many fields.
Expansion of vertical domains such as automobiles, consumer electronics, semiconductor, machinery, telecom, industrial automation, and construction is propelling the growth of the engineering research and development outsourcing market. The growing trend of convergence of engineering services and new technologies is again contributing to the growth of the market. Rapid urbanization around the globe is another key factor augmenting the growth of the market. According to the United Nation, in 2018, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. Today, the most urbanized regions include Northern America (with 82% of its population living in urban areas in 2018), Latin America and the Caribbean (81%), Europe (74%), and Oceania (68%).
The Asia Pacific is expected to gain significant growth over the forecast period and this is attributed to the growing expanding IT sector in the region. In March 2021, Karnataka launched the Engineering Research and Development (R&D) Policy 2021 that has the potential to create 50,000 new jobs and attract investment into the state beyond Bengaluru in next five years. Thus increasing the state's contribution to ER&D to 45 percent in the five-year period and it was developed in collaboration with the IT industry body NASSCOM.
Key Developments:
In June 2019, Capgemini announced that it has been positioned in the Leadership zone, by Zinnov, for engineering, research, and development (ER&D) services. The Zinnov Zones 2019 ER&D report evaluated around 40 service providers where Capgemini was recognized for its domain specialization, research and development (R&D) practice maturity, innovation, customer spread, and scalability.
The Engineering Research And Development Outsourcing Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Engineering Research And Development Outsourcing Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- Altran Technologies
- Alten Group
- HCL Enterprise
- Bertrandt
- TCS
- Wipro
- Akka Technologies
- ...
By the Product Type, the market is primarily segmented into:
- Mechanic
- Embedded IT
- Software
By Applications, the market is segmented into:
- Automobile
- Aviation
- Telecom
- Railway
- Software and Internet
- Other
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Engineering Research And Development Outsourcing Market Report:
- To assess the size of the market by value and volume
- Analyze the Engineering Research And Development Outsourcing Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Engineering Research And Development Outsourcing Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Engineering Research And Development Outsourcing Market
The Engineering Research And Development Outsourcing Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Engineering Research And Development Outsourcing Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
Request Discount 
Inquire Before Buy
