GSPR is an annual study to assist business leaders spearheading global engineering initiatives make right decisions.
The study estimates the overall addressable R&D globalization and services opportunity at $170 Billion as of 2014. Currently only $55 Billion of this opportunity is addressed globally. India’s share of the addressed market is 33% with in-house R&D centers contributing $11.3 Billion worth of services to their parent companies. The study finds that the Engineering services landscape is undergoing rapid shifts from the perspective of range and nature of services. The global outsourced Engineering services market currently stands at $26 Billion with players from US, Europe and India having an almost equal share. Indian service providers lead the pack amongst the global service providers. As of 2014 the Indian service providers deliver $6.9 Billion worth of services which is 27% of the addressed outsourced services market. The study estimates that by 2020 the Indian outsourced ER&D services market will reach $15 Billion growing at a CAGR of 13%. This growth will be primarily driven by addressing the increasing demand for embedded systems and software needs across all verticals. Zinnov’s annual Global Service Provider Rating is an exhaustive exercise that covers over 50 companies in the ER&D space. The participants were analyzed across key parameters like Human capital, product development capabilities, financials, ecosystem linkages, infrastructure & innovation / IP creation, their non-linear strategy, lab infrastructure and customer relationships. The analysis process involved data collection from participating companies, interviews with end customers, and inputs from domain experts.
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