Global Engineering R&D Services Outsourcing/Electronic Services Manufacturing Market

The global engineering R&D services outsourcing market is anticipated to grow with a CAGR of 17.43% over the forecast period, i.e., 2023 - 2033. Factors such as growing demand for product solutions that incorporate the most advanced technologies, coupled with dynamically increasing spending on R&D developments throughout the world are projected to drive the growth of the market in the coming years. Furthermore, the increased demand for engineering R&D services to lower expenses for manufacturing is expected to fuel market expansion in the decades to come. The market is estimated to garner a revenue of around USD 1,297.61 billion by the end of 2033, up from a revenue of about USD 228.35 billion in the year 2022.

The global engineering R&D services outsourcing market is segmented into by type, industrial vertical, and region. By type, the market is segmented into Onshore, and Offshore. By the end of 2033, the off-shore segment is anticipated to garner the largest revenue of around USD 660.32 billion, up from a revenue of close to USD 111.37 billion in the year 2022.

The global engineering R&D services outsourcing market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The market in Asia Pacific, amongst the market in all the other regions, is anticipated to garner the largest revenue of USD 572.11 billion by the end of 2033. Furthermore, the market in the region is expected to earn more than USD 95.91 billion in sales by 2022.

Some of the prominent industry leaders in the global engineering R&D services outsourcing market that are included in our report are Capgemini Engineering, ALTEN Group, HCL Technologies Limited, Siemens, SOLIZE Corporation, Bertrandt AG, Tech Mahindra Limited, EDAG Engineering Group AG, Wipro Ltd., Infosys Limited, Tata Consultancy Services Ltd., L&T Technology Services Limited.