Global Engineering Research and Development Services Market 2024-2028

Global Engineering Research and Development Services Market 2024-2028

Global Engineering Research And Development Services Market 2024-2028

The engineering research and development services market is forecasted to grow by USD 483 bn during 2023-2028, accelerating at a CAGR of 12.13% during the forecast period. The report on the engineering research and development services market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by need for technological innovation, optimized time-to-market strategy, and lack of in-house expertise.

Technavio's engineering research and development services market is segmented as below:

• By End-user
• IT and telecom
• Automotive
• Semiconductor
• Aerospace
• Others
• By Geographical Landscape
• North America
• APAC
• Europe
• South America
• Middle East and Africa

This study identifies the advent of Industry 4.0 as one of the prime reasons driving the engineering research and development services market growth during the next few years. Also, increasing wages in ER and D destinations and growing captive operations in emerging economies will lead to sizable demand in the market.

The report on the engineering research and development services market covers the following areas:

• Engineering research and development services market sizing
• Engineering research and development services market forecast
• Engineering research and development services market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading engineering research and development services market vendors that include ABB Ltd., Accenture PLC, AECOM, Alten SA, Capgemini Service SAS, Cognizant Technology Solutions Corp., Happiest Minds Technologies Ltd., HCL Technologies Ltd., iNCAETEK Solutions Pvt. Ltd., Infosys Ltd., Magnasoft Spatial Services Inc., Quest Global Services Pte. Ltd., Tata Consultancy Services Ltd., Tata Sons Pvt. Ltd., Tech Mahindra Ltd., Virtusa Corp., and Wipro Ltd.. Also, the engineering research and development services market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.