Global Engineering Research and Development Services Market 2022-2026

Global Engineering Research And Development Services Market 2022-2026

Technavio has been monitoring the engineering research and development services market and it is poised to grow by $ 513.86 bn during 2022-2026, accelerating at a CAGR of 12.75% during the forecast period. Our 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 of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the need for technological innovation, optimized time-to-market strategy, and a lack of in-house expertise.

The engineering research and development services market analysis includes the end-user segment and geographic landscape.

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

By End-user

• IT and telecom
• automotive
• semiconductor
• aerospace
• others

By Geography

• 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, rising wages in ER and D destinations and growing captive operations in emerging economies will lead to sizable demand in the market.

Technavio 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. Our report on 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

Technavio's 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 Group, Cognizant Technology Solutions Corp., Happiest Minds Technologies Ltd., HCL Technologies Ltd., iNCAETEK Solutions Pvt. Ltd., Infosys Ltd., Magnasoft Consulting India Pvt. Ltd., QuEST Global Services Pte. Ltd., Tata Consultancy Services Ltd., Tech Mahindra Ltd., Virtusa Corp., Wipro Ltd., Capgemini Service SAS, and Tata Sons Pvt. 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.

Technavio 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. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.