Press release
Engineering Research And Development (ER&D) Outsourcing Market: Exceptional Growth Projected at a CAGR of 25.0%, Rising to $1620.95 Billion by 2029
Engineering Research And Development (ER&D) Outsourcing Market
What Is The Projected Market Size Of The Global Engineering Research And Development (ER&D) Outsourcing Market And Its Growth Rate?
• $535.22 billion in 2024 to $663.34 billion in 2025, CAGR of 23.9%.
• Projected to rise exponentially to $1620.95 billion by 2029, at a CAGR of 25.0%.
• Exponential growth factors include global talent shortage, increased regulatory complexity, need for flexibility, emphasis on sustainability, and increased adoption of 5G.
What Is Driving The Growth In The Engineering Research And Development (ER&D) Outsourcing Market?
Rising outsourcing demand fuels the growth of the ER&D outsourcing market. Outsourcing ER&D projects to technology development companies employing expert engineers create profitable outsourcing partnerships. This allows businesses to cut costs associated with extra office space, labor, infrastructure, and operations. NASSCOM estimates that global spending on ER&D will exceed $1.5 trillion by 2025-2026, with $200 billion in outsourced services.
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Who Are the Key Players Driving Engineering Research And Development (ER&D) Outsourcing Market Growth?
• accenture* plc
• International Business Machines Corporation
• Tata Consultancy Services Limited
• Capgemini SE
• Cognizant Technology Solutions Corporation
• DXC Technology Company
• Harman International Industries
• Wipro LTD.
• Tech Mahindra Limited
• EPAM Systems lnc.
• Alten Group
• HCL Technologies Limited
• Altran Technologies SA
• Horiba Ltd.
• Akka Technologies Group
• Mindtree Limited
• Bertrandt AG
• L&T Technology Services Limited
• GlobalLogic Inc.
• IAV Gmbh
• Cyient Limited
• Tata Technologies Limited
• Assystem
• Kistler Group
• KPIT Technologies Limited
• FEV Europe GmbH
• Infosys Limited
• QuEST Global Services Pte. Ltd.
• Luxoft lnc.
• Wabtec Corporation
• Siemens AG
• Robert Bosch GmbH
• ABB Ltd.
• Honeywell International Inc.
• NEC Corporation
What Are The Key Trends In The Engineering Research And Development (ER&D) Outsourcing Market?
• Artificial Intelligence (AI) and Machine Learning (ML) integration.
• Proliferation of IoT technologies.
• Implementation of Augmented Reality (AR) and Virtual Reality (VR).
• Adoption of remote collaboration tools.
What Are The Segments Of The Global Engineering Research And Development (ER&D) Outsourcing Market?
• 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
Which Region Leads The Engineering Research And Development (ER&D) Outsourcing Market?
Asia-Pacific was the largest region in the engineering research and development outsourcing market in 2024. Other regions covered in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Engineering Research And Development (ER&D) Outsourcing Market Global Market Report?
- Market Size Analysis: Analyze the Engineering Research And Development (ER&D) Outsourcing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Engineering Research And Development (ER&D) Outsourcing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Engineering Research And Development (ER&D) Outsourcing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Engineering Research And Development (ER&D) Outsourcing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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