Research And Development Outsourcing Services Market Growth Analysis | Trends, Drivers and Vendor Forecasts till 2024

Technavio has been monitoring the research and development outsourcing services market and it is expected to grow by $ 6.09 bn, accelerating at a CAGR of almost 7% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Research And Development Outsourcing Services Market: Key Trends to impact market growth

The Emergence of Industry 4.0 is one of the key research and development outsourcing services market market trends. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.

Research And Development Outsourcing Services Market: Top Drivers to Boost Demand

The Outsourcing R&D services is a cost-effective solution is one of the primary factors driving the growth of the research and development outsourcing services market. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business

Vendor Analysis: Altair Engineering Inc., Capgemini Services SAS and IAV GmbH are key growth contributors

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Altair Engineering Inc., Capgemini Services SAS, IAV GmbH, Infosys Ltd., Kistler Instrumente AG, KPIT Technologies Ltd., Mindtree Ltd., Tata Elxsi Ltd., Tata Consultancy Services Ltd., and Wipro Ltd. are some of the major market participants.

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Research And Development Outsourcing Services Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive research and development outsourcing services market growth during the next five years
• Precise estimation of the research and development 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 research and development outsourcing services market industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of research and development outsourcing services market vendors

Technavio has been monitoring the global research and development outsourcing services market  and it is expected to grow by USD 6.09 billion accelerating at a CAGR of over 7% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

This report provides a detailed analysis of the research and development outsourcing services market by End-user (Automotive, Consumer electronics, Telecommunications, Semiconductor, and Others) and Geography (North America, Europe, APAC, South America, and MEA), and the Segment Forecasts, 2020-2024. The report also provides a detailed analysis of around 25 vendors operating in the research and development outsourcing services market. 

Research and Development Outsourcing Services Market: Segmentation by Geography

During 2019, North America accounted for the major share of the Research and Development Outsourcing Services Market. Factors such as the increasing demand from industries such as aerospace, semiconductor, and consumer electronics will significantly drive research and development outsourcing services market growth in this region over the forecast period. 46% of the market’s growth will originate from North America during the forecast period. The US is a key market for research and development outsourcing services in North America. Market growth in this region will be faster than the growth of the market in other regions.

Research and Development Outsourcing Services Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Altair Engineering Inc., Capgemini Services SAS and IAV GmbH are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report