LONDON--(BUSINESS WIRE)--The research and development outsourcing services market is expected to grow by USD 6.09 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the research and development outsourcing services market in optimistic, probable, and pessimistic forecast scenarios.
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The research and development outsourcing services market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Research And Development Outsourcing Services Market Participants:
Altair Engineering Inc.
Altair Engineering Inc. operates its business through segments such as Software and Client Engineering Services. The company offers engineering R&D outsourcing services to clients.
Capgemini Services SAS
Capgemini Services SAS operates its business through segments such as Strategy & Transformation, Applications & Technology, and Operations & Engineering. The company offers R&D outsourcing services to customers worldwide.
IAV GmbH operates its business through segments such as Products and Services. The company offers engineering R&D outsourcing services to customers.
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Research And Development Outsourcing Services Market 2020-2024: Segmentation
Research and development outsourcing services market is segmented as below:
- Consumer Electronics
- North America
- South America
The research and development outsourcing services market is driven by the cost-effectiveness of outsourcing R&D services. In addition, other factors such as the emergence of Industry 4.0 are expected to trigger the research and development outsourcing services market toward witnessing a CAGR of over 7% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.