Global Research and Development (R&D) Outsourcing Services Market 2019-2026

The global R&D outsourcing services market will grow by USD 6.77 billion during 2019-2026. This report provides a detailed analysis of the market by end-users (automotive, consumer electronics, telecommunications, semiconductor, aerospace, healthcare, construction, and other end-users) and geography (APAC, Europe, MEA, North America, and South America). The report analyzes the market’s competitive landscape and offers information on several R&D outsourcing service providers, including HCL Technologies Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Tech Mahindra Ltd., and Wipro Ltd.

Global R&D outsourcing services industry overview

Several SMEs have limited operational reach as their operations are confined to a region. This is inducing them to outsource their R&D services to vendors operating across the globe to gain access to the global talent pool. Several vendors are from the US have expanded their operations to countries such as India for real-time support and low-cost labor. This helps enterprises reduce their R&D costs and increase their profit margins. The increased access to global talent pool by enterprises is one of the critical factors that will contribute to the growth of this market during the forecast period.

The constant digital transformation of industries has increased the adoption of innovative technologies to gain a strategic and operational advantage. This is driving industries to implement industry 4.0 by using emerging digital technologies for automation and smart production processes. Vendors in the market check the feasibility of implementing and enhancing innovative solutions. Enterprises outsource R&D services to these vendors, which will help them focus on their core competencies. The emergence of industry 4.0 is one of the key trends that will drive global R&D services market growth during the forecast period. As a result of these factors, the market will grow at a CAGR of more than 8% during 2019-2023.

Top R&D outsourcing service companies covered in this market research report

The global R&D outsourcing service market is moderately fragmented. This research report provides a detailed analysis of the market’s competitive landscape and provides information on the products offered by various companies. Key insights provided by this global R&D outsourcing service market report will help companies create effective strategies to improve their revenue share.

The report offers a detailed analysis of several leading companies, including:

HCL Technologies Ltd.

Infosys Ltd.

Tata Consultancy Services Ltd.

Tech Mahindra Ltd.

Wipro Ltd.

R&D outsourcing services market segmentation based on end-users

Automotive

Consumer electronics

Telecommunications

Semiconductor

Aerospace

Healthcare

Construction

Other end-users

The automotive industry will be the largest end-user to global R&D outsourcing services market. Market growth in this segment is mainly driven by the growing demand for vehicles across the world. Moreover, the presence of stringent environmental regulations that are inducing automotive manufacturers to outsource R&D services to improve their product offerings will also contribute to the growth of the R&D outsourcing services market size.

R&D outsourcing services market segmentation based on geography

APAC

Europe

MEA

North America

South America

North America will be the largest revenue contributor to the global R&D outsourcing services market. The growth of aerospace, semiconductor, and consumer electronics industries is driving the outsourcing of R&D services in this region. Additionally, the construction of new data centers and the upgradation of the existing data centers that will increase the need for semiconductors will also lead to the outsourcing of R&D services in North America.

Key highlights of the global R&D outsourcing services market report for the forecast years 2019-2023

CAGR of the market during the forecast period 2019-2023

Detailed information on factors that will accelerate the growth of the R&D outsourcing services market during the next five years

Precise estimation of the global R&D outsourcing services market size and its contribution to the parent market

Accurate predictions on upcoming trends and changes in consumer behavior

The growth of the R&D outsourcing services industry across APAC, Europe, MEA, North America, and South America

A thorough analysis of the market’s competitive landscape and detailed information on several vendors

Comprehensive details of factors that will challenge the growth of R&D outsourcing service companies