Global Engineering Research & Development (ER&D) Outsourcing Market: Trends & Forecasts(2021-2025)
Altran Technologies, Alten Group, Akka Technologies, and Bertrandt AG are major players in the global market whose company profiling has been done in the report.
By: Daedal Research
The report also assesses the key opportunities available in the engineering research & development (ER&D) outsourcing market and outlines the factors that are and will be driving the growth of the industry. Growth of the market has forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Engineering services research and development industry is at the point of revolution which is boosted by rising consumer demand and disturbance in technology. Major industries are progressively concentrating on developing engineering research and development (ER&D) products that can assimilate with digital consumer network and this transformation led the demand for ER&D research and development outsourcing industry. Engineering research & development outsourcing market is categorized into three major segments namely mechanic, embedded IT, and software. Major end users of engineering research & development (ER&D) outsourcing market includes automobile, aeronautics, telecom, rail, software & internet industry etc.
The global research & development outsourcing market has shown rising trends over the past few years and is anticipated to grow at tremendous growth rate over the forecasted period as well. Lack of skilled personnel, and rising demand for cost reduction are some of the major factors driving the growth of the industry. Other growth drivers such as shorter project lifecycle, cost saving from lower labor wages, industry consolidation, and growing offshore outsourcing demand would propel the growth of the market over the next five years. However, the growth of the market is restrained by some factors which include risk associated with intellectual property outsourcing, and lack of domain expertise.
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