Global Engineering Research & Development (ER&D) Outsourcing Market was valued at USD 121.46 Billion in 2018 and is projected to reach USD 6.807 Billion by 2026, growing at a CAGR of 25.20 % from 2020 to 2026.
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What is Engineering Research & Development (ER&D) Outsourcing?
Engineering Research & Development (ER&D) Outsourcing meant to be a business practice where company hires another company to perform tasks, handle operations which was usually been done by the company’s own employees. This practice is undertaken to reduce costs or improve efficiency and may involve a large third-party provider.
Global Engineering Research & Development (ER&D) Outsourcing Market Outlook
Engineering research & development (ER&D) outsourcing is experiencing rapid growth in developing economies. Robust growth in developing countries of vertical domains like automobiles, aerospace, consumer electronics, machinery, semiconductor, telecom, construction, industrial automation, medical devices, energy and computing favoured by momentum of ER&D activities is driving the engineering research & development (ER&D) outsourcing growth. Emerging trend of convergence of engineering services and new technologies is influencing the market growth.
Global Engineering Research & Development (ER&D) Outsourcing Market Competitive Landscape
The “Global Engineering Research & Development (ER&D) Outsourcing Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Altran Technologies, Alten Group, Akka Technologies, Wipro, TCS, HCL and Bertrandt AG. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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