Overview:

The global engineering R&D outsourcing services market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. The transfer of R&D in engineering sector is referred as engineering outsourcing. This includes various technologies and services outsourcing that help to improve the production capacity, for product innovation, reduce the time to market, etc.

In engineering R&D services outsourcing the R&D has been already conducted at one location which is proven and it transferred to another location or shared with another manufacturer/ supplier/ entity for various applications. This involves transfer of services such as CAD, design software’s, various prototypes, drafting, design validation protocols, and many more.

Market Dynamics:

Increasing globalization and many key players are striving for market expansion activity for growth. This is resulting in growth of outsourcing of various R&D services. Business expansion activity requires technology sharing to maintain smooth business operations, product quality, supply, and maintain production cycle. Hence, increased business expansion activity is supporting the growth of outsourcing of R&D services.

In addition, many key players are increasing their strategic alliances and partnerships with various suppliers and third party manufacturers. This activity also requires technology sharing and services sharing. In addition, many companies work together through these alliances for specific product development and supply at various regions across the globe. This is resulting in growth of the global engineering R&D outsourcing services market.

Key Trends:

Growing focus on offshore outsourcing among leading players is a major trend observed in the current market. The key players are opting for cheap labor and raw material sourcing hence preferring for market expansion in emerging countries such as India and China. This is propelling growth of R&D services outsourcing in the engineering sector.

Regional Analysis:

For detailed understanding of market dynamics, the global engineering R&D outsourcing services market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region is accounted for the major revenue share in the global market, owing to large availability of skilled labor at comparatively low cost in countries in the region. Moreover, rising industrial development and increasing government support for industrialization are some other factors supporting the market growth in the Asia Pacific region.

However, North America and Europe region are expected to witness considerable growth over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Engineering R&D Outsourcing Services Market, By Location:

• Onshore
• Offshore

Global Engineering R&D Outsourcing Services Market, By Services:

• Designing
• Prototyping
• System Integration
• Testing
• Others

Global Engineering R&D Outsourcing Services Market, By Application:

• Aerospace & Defense
• Automotive
• Consumer Electronics
• Pharmaceuticals
• Construction
• Other Application

Key Players Covered:

Key players operating in the global engineering R&D outsourcing services market includes, Wipro Limited, Infosys Ltd., Tata Consultancy Services Limited, Alten GmbH, Tech Mahindra Ltd., HCL Technologies Ltd., Altran Technologies S.A., Kristler Instruments AG, Capgemini, and Harman International Industries, Inc.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Engineering R&D Outsourcing Services Market by location, services, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global engineering R&D outsourcing services market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.