Worldwide and U.S. Research and Development/Product Engineering Services 2010–2014 Forecast: Will the Economic Downturn and Changing Customer Needs Enable Increased Outsourcing of These Services?

IDC
December 8, 2010
32 Pages - SKU: IDC6052205
Countries covered: Global

This IDC study forecasts fairly robust growth for the R&D/product engineering services market in the long term as technology product customers look to outsource their product development and innovation work to outsourcing vendors. IDC forecasts a slowdown in 2010 and has revised the forecast for 2010 downward. IDC is of the opinion that customers will increase their outsourcing spend from 2011 as the economy revives and expects spending for these services to reach an estimated $57 billion by 2014.

"Technology product customers have not scaled back their R&D/product engineering budgets significantly in light of shrinking sales. These customers across different industries face newer challenges in the current recession and are looking to provide new and innovative products at lower costs to their customers. In this situation, the value proposition provided by R&D/product engineering services vendors will continue to find favor with these customers," says Mukesh Dialani, research manager, IDC. "Vendors should start partnering during the product ideation phase with their customers, continue to innovate, invest in infrastructure, build and/or buy IP, hire and retain industry-specific talent, and set up proof-of-concept centers and centers of excellence in order to increase the adoption of these services."




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