Research and Development (R&D) Outsourcing Service Market

Research and Development (R&D) Outsourcing Service Market is anticipated to grow at a higher CAGR during forecast period owing to increase in adoption of outsourcing research & development task such as recruiting, marketing, among other.

The research and development outsourcing market focusses on outsourcing work such as recruiting, marketing, and other functions of the company, which is not their key competency. Companies are focusing on the unique aspects of their businesses, which differentiate them from their rivals and attract customers. The growing competition among companies is increasing due to rapid globalization, which is encouraging them to outsource the research & development task to other enterprises so that the company can focus on their core competencies.

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The major factor that responsible for the growth of the research & development outsourcing service market is increasing adoption of outsourcing research & development task such as recruiting, marketing, among other due to the growing focus of organizations on their core competency and gain access to the global talent pool. Various small and medium enterprises operations are confined to a specific region which is limited to their operational reach. This factor encourages them to outsource their R&D services to vendors operating worldwide to gain access to the global talent pool and reduce operational costs at the same time. Several US vendors have expanded their operations to countries such as India for real-time support functions such as customer service. The research & development outsourcing service also helps organizations to reduce their R&D costs and increase their profit margins.

The other factors, such as the rising demand of R&D outsourcing across various industries such as automotive, consumer electronics, healthcare, and others, is further propelling the growth of the market. The increasing adoption of the Industry 4.0 across industry will further boost the market’s demand. The continuous digital transformation of industries is accelerating the adoption of advanced technologies to increase operational benefits, which is another factor that will surge the demand of the market. Companies outsource R&D services to the vendors, which will help the companies to focus on their core competencies. The increasing competition between enterprises due to rapid globalization is encouraging enterprises to outsource the research & development tasks that are not their core competency and avoid extra capital investment in research and development. However, data security and privacy concerns may hinder market growth.

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Based on the end-user, the automotive segment is expected to grow at a higher CAGR during the forecast period. Digital technology increases the development cost of the vehicle. In addition to this, due to the fast-changing consumer demand with advanced solutions, OEMs are focussing on shorten product life cycles. This factor is causing pressure for the flexibility and innovation of new products. These factors will contribute to the growth of R&D outsourcing service. The presence of strict environmental regulations is encouraging automotive manufacturers to outsource R&D services to enhance their product offerings. This factor will also contribute to the growth of the R&D outsourcing services market during the forecast period.

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Based on the region, North America is expected to dominate the global research and development outsourcing market during the forecast period owing to the growth of aerospace, semiconductor, and consumer electronics industries and the construction of new data centers in the region. These industries require experienced talent, thus outsource their operations such as recruiting and marketing which are not their core competency. On the other hand, the Asia-pacific region is expected to grow at a higher CAGR in the global research and development outsourcing market during the forecast period. The presence of highly skilled workforces and low labor cost as compared to the other regions is fueling the growth of the research and development outsourcing service market in the Asia-pacific region.

Various notable players in the Research and Development (R&D) Outsourcing Service market include HCL Technologies Ltd, Infosys Ltd., Tata Consultancy Services Ltd., Tech Mahindra Ltd., Wipro Ltd., Aricent, Inc., Aspire Systems, Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., Intel Corporation, Accenture plc, and Beyondsoft Corporation among others.

The Global Research and Development (R&D) Outsourcing Service market has been segmented based on the end-user, and region. Based on the end-user market is categorized into automotive, consumer electronics, telecommunications, semiconductor, aerospace, healthcare, construction, and other.

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Key questions answered in this research report:

• • At what pace is the global Research and Development (R&D) Outsourcing Service market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Research and Development (R&D) Outsourcing Service market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Research and Development (R&D) Outsourcing Service market?
  • Which end users generated maximum revenues in 2019 and identify the most promising end users during the forecast period?
  • Who are the various end-users of the global Research and Development (R&D) Outsourcing Service market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Research and Development (R&D) Outsourcing Service Market by End-User      

• • Automotive
  • Consumer Electronics
  • Telecommunications
  • Semiconductor
  • Aerospace
  • Healthcare
  • Construction
  • Others

Global Research and Development (R&D) Outsourcing Service Market by Region

• • North America Research and Development (R&D) Outsourcing Service Market Option 1: As a part of the free 25% customization
    • North America Research and Development (R&D) Outsourcing Service Market by End-User
    • US Research and Development (R&D) Outsourcing Service Market All-Up
    • Canada Research and Development (R&D) Outsourcing Service Market All-Up
  • Europe Research and Development (R&D) Outsourcing Service Market Option 2: As a part of the free 25% customization
    • Europe America Research and Development (R&D) Outsourcing Service Market by End-User
    • Spain Research and Development (R&D) Outsourcing Service Market All-Up
    • Netherlands Research and Development (R&D) Outsourcing Service Market All-Up
    • Germany Research and Development (R&D) Outsourcing Service Market All-Up
    • UK Research and Development (R&D) Outsourcing Service Market All-Up
    • France Research and Development (R&D) Outsourcing Service Market All-Up
    • Rest of Europe Research and Development (R&D) Outsourcing Service Market All-Up

• • Asia-Pacific Research and Development (R&D) Outsourcing Service Market Option 3: As a part of the free 25% customization
    • Asia-Pacific Research and Development (R&D) Outsourcing Service Market by End-User
    • China Research and Development (R&D) Outsourcing Service Market All-Up
    • India Research and Development (R&D) Outsourcing Service Market All-Up
    • Japan Research and Development (R&D) Outsourcing Service Market All-Up
    • Malaysia Research and Development (R&D) Outsourcing Service Market All-Up
    • Australia Research and Development (R&D) Outsourcing Service Market All-Up
    • Rest of APAC Research and Development (R&D) Outsourcing Service Market All-Up
  • ROW Research and Development (R&D) Outsourcing Service Market Option 4: As a part of the free 25% customization
    • ROW Research and Development (R&D) Outsourcing Service Market by End-User
    • Brazil Research and Development (R&D) Outsourcing Service Market All-Up
    • Argentina Research and Development (R&D) Outsourcing Service Market All-Up
    • South Africa Research and Development (R&D) Outsourcing Service Market All-Up
    • Saudi Arabia Research and Development (R&D) Outsourcing Service Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Research and Development (R&D) Outsourcing Service Market All-Up

Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • HCL Technologies Ltd
  • Infosys Ltd.
  • Tata Consultancy Services Ltd.
  • Tech Mahindra Ltd.
  • Wipro Ltd.
  • Aricent, Inc.
  • Aspire Systems, Inc.
  • Microsoft Corporation
  • Samsung Electronics Co. Ltd.
  • Intel Corporation
  • Accenture Plc
  • Beyondsoft Corporation