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Engineering R&D Services Outsourcing Market to witness high growth in near future

Author : Market Study Report | Published Date : 2020-12-08 

The ‘Engineering R&D Services Outsourcing market’ report formulated recently by Market Study Report, LLC, evaluates the industry in terms of market size, market share, revenue estimation, and geographical outlook. The study also delivers a precise summary that illustrates the competitive milieu, growth opportunities and application landscape of the Engineering R&D Services Outsourcing market depending on the industry’s financial and non-financial impact.

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Global engineering R&D services outsourcing market is anticipated to reach more than USD 650 billion by 2025 according to a new report. The major factors which are driving this market is the access to low cost highly skilled resources which can work towards complex tasks of not only designing and testing but also on validation, simulation and execution. Companies are moving from business process outsourcing to knowledge process outsourcing and major industry verticals such as automotive, consumer electronics, semiconductors, aerospace and telecom are providing huge opportunities to the consulting companies. The traction of offshore outsourcing can be seen owing to the low cost and added capabilities from the service providers. There are dedicated ER&D service providers which are not only providing basic services but also, they are jointly investing with the companies to expand their businesses in growing markets and geographies. Companies are also focusing on expanding their market reach along with faster turnaround times from these providers. These are some of the major advantages for the companies to outsource their services.

Companies in North America and Europe are considered to spend more on these services however, Asia Pacific is the largest market for the ER&D service providers. Countries such as India and China have pushed the market for ER&D and are estimated to continue the trend over the forecast period. Applications in the automotive, telecom, consumer electronics and aerospace segments is considered to have large market share in 2017. There has been an increase in adoption in the offshore services as compared to onsite service due to low costs and highly skilled professionals on the offshore locations. The offshore outsourcing type would grow at a higher rate during the forecast period as compared to its counterpart. The major restrains this market is facing is the intellectual property theft specifically during the offshore outsourcing. This is the major problem faced by many companies, which eventually generates a loss for these companies. However due to strict laws and changing regulations, this challenge is expected to overcome during the forecast period.

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The market for ER&D services has evolved from outsourcing of simple low-cost engineering services to capacity augmentation. At present companies are focusing more on reduced timelines, increased productivity and quality of outsourcing services. Countries such as India, China are among the biggest markets for ER&D service providers. Growing number of engineering professionals every year coupled with low cost of service have pushed the market for ER&D Outsourcing in this region.

Major players which are profiled in the study include HCL Technologies Limited, IAV GmbH, P+Z Engineering GmbH, Tata Consulting Services Limited, Wipro Limited, EDAG Engineering GmbH, ASAP Holdings GmbH, FEV Group, Cybage software, Kistler Instruments AG, Infosys Ltd, among others.

Engineering R&D Services Outsourcing Market share by Major regions included:

United States
North America
Asia Pacific
Europe
Middle East & Africa

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Table of Contents

1.Overview and Scope
1.1.Research goal & scope
1.2.Research assumptions
1.3.Research Methodology
1.3.1.Primary data sources
1.3.2.Secondary data sources
1.4.Key take-aways
1.5.Stakeholders

2.Executive Summary
2.1.Market Definition
2.2.Market Segmentation
3.Engineering R&D services outsourcing Market Insights
3.1.Engineering R&D services outsourcing – Industry snapshot
3.2.Engineering R&D services outsourcing - Ecosystem analysis
3.3.Engineering R&D services outsourcing market dynamics
3.3.1.Engineering R&D services outsourcing – Market Forces
3.3.1.1.Engineering R&D services outsourcing Market driver analysis
3.3.1.2.Engineering R&D services outsourcing Market restraint/challenges analysis
3.3.1.3.Engineering R&D services outsourcing Market opportunity analysis
3.4.Industry analysis - Porter's five force
3.4.1.Bargaining power of supplier
3.4.2.Bargaining power of buyer
3.4.3.Threat of substitute
3.4.4.Threat of new entrant
3.4.5.Degree of competition
3.5.Engineering R&D services outsourcing market PEST analysis, 2017
3.6.Value Chain Analysis
3.7.Engineering R&D services outsourcing Industry trends
3.8.Competitive Ranking Analysis
4.Engineering R&D services outsourcing Market Size and Forecast by Location, 2017-2025
4.1.Key findings
4.2.Onsite
4.3.Offshore
5.Engineering R&D services outsourcing Market Size and Forecast by Application, 2017-2025
5.1.Key findings
5.2.Consumer Electronics
5.3.Automotive
5.4.Telecom
5.5.Medical Devices

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