Engineering R&D Services Outsourcing Market Size Worth $15,038.44 Billion By 2032 | CAGR: 25.2%

The global engineering R&D services outsourcing market size is expected to reach USD 15,038.44 billion by 2032, according to a new study by Polaris Market Research. The report “Engineering R&D Services Outsourcing Market Share, Size, Trends, Industry Analysis Report, By Location (Off-shore and On-shore); By Service; By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is expected to grow over the forecast period due to the increasing need for companies to outsource services to save costs and optimize the utilization of resources. The market has evolved continuously with technological advancements such as IoT, connected computing, AI, and sensing elements. This has led to growing competition among service providers to offer cutting-edge solutions, driving aggressive investment in research and development.

ESO companies also focus on mergers and acquisitions and strengthen their client ties to tap new business opportunities. For instance, the Kansas Department of Labor chose Tata Consultancy Services Limited, an enterprise solutions provider, in April 2022 to build and run an advanced unemployment insurance system, providing maintenance of online systems and assistance during downtimes.

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The COVID-19 pandemic significantly impacted the Engineering R&D Services Outsourcing (ESO) market, resulting in project delays, cancellations, and reduced outsourcing budgets. Nevertheless, the crisis also accelerated the adoption of digital technologies for remote collaboration, enabling business continuity. As the world recovers from the pandemic, the ESO market is expected to rebound as companies resume their engineering projects and prioritize digital transformation.

Engineering R&D Services Outsourcing Market Report Highlights

• On-shore segment is expected to dominate the market from 2023 to 2032 due to political and geopolitical boundaries, time zone differences, and language and cultural barriers influencing the decision to outsource on-shore engineering services.
• The testing segment is anticipated to have the largest revenue share, propelled by the demand for error-free processes and prototypes.
• Asia Pacific is the leading region in the market, with a strong presence of industrial goods manufacturing and skilled engineering professionals. The region's focus on technological innovation and embedded software integration is expected to drive growth in the future.
• The global key market players include HCL Technologies Limited, Wipro Limited, Tata Consultancy Services Limited, Infosys Ltd, IAV Gmbh, P+Z Engineering GmbH, Kristler Instruments AG, Tata Technologies, Harman International, EASi, Capgemini, KPIT Technologies Ltd, Assystem, HTE Engineering, LLC, Vikram Solar Pvt.  Ltd, Nordex SE, HORIBA, Ltd, and FEV Group

Polaris Market Research has segmented the Engineering R&D Services Outsourcing market report based on location, service, application, and region:

Engineering R&D Services Outsourcing, Location Outlook (Revenue - USD Billion, 2019 - 2032)

• Off-shore
• On-shore

Engineering R&D Services Outsourcing, Service Outlook (Revenue - USD Billion, 2019 - 2032)

• Designing
• System Integration
• Prototyping
• Testing
• Others

Engineering R&D Services Outsourcing, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Automotive
• Aerospace
• Consumer Electronics
• Healthcare
• Industrial
• Semiconductors
• Telecom
• Others

   Engineering R&D Services Outsourcing, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa