The global R&D outsourcing services market to grow at a CAGR of 8.31% during the period 2017-2021.
Albany, NY -- (SBWIRE) -- 05/15/2018 -- R&D outsourcing refers to outsourcing non-physical engineering R&D tasks such as designing, simulation, and consultation to specialized vendors. It involves factors such as improvement in different processes, efficiency enhancement, cost advantage, and lowered time-to-market for products. Firms outsourcing their engineering R&D services consider these factors prior to adopting the service.
Covered in this report
The report covers the present scenario and the growth prospects of the global R&D outsourcing services market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
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Technavio's report, Global R&D Outsourcing Services Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
HCL Technologies
Infosys
TCS
Tech Mahindra
Wipro
Other prominent vendors
Aricent
GlobalLogic
Cyient
Luxoft
Mindtree
QuEST Global Services
Tata Elxsi
Market driver
Cost reduction and efficiency
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Market challenge
Lack of effective communication between client and vendor
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Market trend
Rise in engineering analytics
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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?