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Engineering Research And Development (ER&D) Outsourcing Market Revenue Analysis, Growth rate, Recent Development, Top Players Analysis 2023-2032| Altran Technologies, Alten Group, Akka Technologies, Wipro Ltd., Tata Consultancy Services
Engineering Research And Development (ER&D) Outsourcing Market Share
The Business Research Company's Engineering Research And Development (ER&D) Outsourcing Global Market Report 2023 identifies Rising outsourcing demand as the major driver for the engineering research and development (er&d) outsourcing market's growth in the forecast period. Outsourcing refers to the process of contracting out the research project to a development company that specializes in cutting-edge technology and employs knowledgeable engineers, skilled at creating profitable outsourcing partnerships. Outsourcing engineering services allow businesses to reduce work cost and also reduce the costs associated with extra office space, labour, infrastructure, and operations.
The global engineering research and development (ER&D) outsourcing market size is expected to grow from $347.68 billion in 2022 to $434.72 billion in 2023 at a compound annual growth rate (CAGR) of 25.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The engineering research and development (ER&D) outsourcing market size is expected to grow to $1,037.5 billion in 2027 at a CAGR of 24.3%.
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Major competitors in the engineering research and development (er&d) outsourcing market are Altran Technologies, Alten Group, Akka Technologies, Wipro Ltd., Tata Consultancy Services, HCL Technologies, Capgemini SE, Kistler Group, Harman International Industries, Tata Technologies Limited, Horiba Ltd., KPIT Technologies Limited, FEV Europe GmbH, IAV Gmbh, Infosys Limited, and Assystem.
A key trend in the engineering research and development (er&d) outsourcing market includes Partnership and collaboration. Major players in the engineering research and development (ER&D) outsourcing market are focused on partnerships and collaborations to sustain their marketplace. For instance, in February 2020, Infosys Limited, an India-based information technology company, partnered with GE Appliances, a US-based Haier company, to efficiently streamline IT operations. With this partnership, Infosys would help GE Appliances enhance the pace of their digital and workplace transformation by providing automation-driven managed IT services support for their worldwide command centers, support desks, end-user computing, IT facilities, and solutions. Furthermore, in March 2022, HCL, an India-based software technology company, partnered with Novo Nordisk for an undisclosed amount. With this partnership HCL helps, Novo Nordisk transform its IT operations, creates world-class end-user experiences, and increases the efficiency across its workforce. Through this partnership, HCL will implement a diversified omni-channel digital workplace solution for Novo Nordisk. Using the knowledge-centered service (KCS) methodology it helps the company to develop its next-generation automation and self-service capabilities. With this HCL will support more than 48,000 end-users. Novo Nordisk is a Denmark-based pharmaceutical company.
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The engineering research and development (er&d) outsourcing market is segmented -
• By Type: Mechanic, Embedded IT, Software
• By Location: Onsite, Offshore
• By End User: Automotive, Consumer Electronics, Telecom, Heavy Machinery, Semiconductor, Computing System, Aerospace, Energy, Medical Devices, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the engineering research and development (er&d) outsourcing market.
The Business Research Company's "Global Engineering Research And Development (ER&D) Outsourcing Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Engineering Research And Development (ER&D) Outsourcing Market Include:
1. Executive Summary
2. Engineering Research And Development (ER&D) Outsourcing Market Characteristics
3. Engineering Research And Development (ER&D) Outsourcing Market Trends And Strategies
4. Engineering Research And Development (ER&D) Outsourcing Market - Macro Economic Scenario
5. Engineering Research And Development (ER&D) Outsourcing Market Size And Growth
……
26. Africa Engineering Research And Development (ER&D) Outsourcing Market
27. Engineering Research And Development (ER&D) Outsourcing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Engineering Research And Development (ER&D) Outsourcing Market
29. Engineering Research And Development (ER&D) Outsourcing Market Future Outlook and Potential Analysis
30. Appendix
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