NEW YORK, Dec. 13, 2023 /PRNewswire/ — The Research And Development Outsourcing Services Market report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the research and development outsourcing services market between 2023 and 2028 is USD 3.89 billion.
Technavio has announced its latest market research report titled Global Research and Development Outsourcing Services Market 2024-2028
Increased access to a global talent pool drives market growth. Most SMEs have limited operational reach, thus, making them have access to only the regional talent pool. Furthermore, enterprises can leverage diverse skill sets distributed across geographies by outsourcing R&D services to these market players. The US focuses on expanding its operations to countries such as India for real-time support and low-cost labor. A reduction in R&D costs will help enterprises increase their profit margins. This will lead to the growth of the global research and development outsourcing services market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
Market Challenge – The risk of poor quality research and development challenges market growth. Quality is one of the most important aspects of R&D engineering tasks. The tasks include designing and simulation for enterprises. Furthermore, the market players offering R&D services may not have the same standards of quality or technical adequacy, thus, the quality could decrease. Learn about additional key drivers, trends, and challenges available with Technavio. Read a Sample PDF Report Now
The research and development outsourcing services market is categorized by End-user (Automotive, Consumer electronics, Telecommunications, Semiconductor, and Others), Type (Large enterprises and Small and medium enterprises), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
The research and development outsourcing services market share growth in the automotive segment will be significant for revenue generation. Vendors of R&D services can help OEMs identify key areas of improvement and support them in implementing innovative solutions. This, in turn, will help OEMs gain a competitive advantage over their rivals. Thus, the growth of the automotive industry will lead to the growth of the global R&D outsourcing services market during the forecast period. These issues can discourage enterprises from outsourcing R&D services.
North America will contribute 45% to the growth of the global market during the forecast period. View a FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the research and development outsourcing services market:
Accenture Plc, Altair Engineering Inc., Capgemini Service SAS, Carl Zeiss AG, Cisco Systems Inc., Cyient Ltd., DXC Technology Co., HCL Technologies Ltd., Hitachi Ltd., IAV GmbH, Infosys Ltd., Kistler Holding AG, KPIT Technologies Ltd., Mindfire Solutions, Quest Global Services Pte. Ltd., Sonata Software Ltd., Tata Sons Pvt. Ltd., Tech Mahindra Ltd., Wipro Ltd., Mindtree Ltd.
Related Reports:
The knowledge process outsourcing market size is estimated to grow at a CAGR of 15.5% between 2022 and 2027. The market size is forecasted to increase by USD 90,553.89 million.
The medical billing outsourcing market is estimated to grow at a CAGR of 15.73% between 2022 and 2027. The size of the market is forecast to increase by USD 11,704.49 million.
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Research And Development Outsourcing Services Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2023 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.11% |
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Market growth 2024-2028 |
USD 3.89 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
7.59 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio