Indian R&D outsourcing services biz maintains its lead

Innovation continue to drive the global economy. The investment in research and development is only increasing. When there is a big opportunity emerges in the market, however big is the company, doing every piece of research and development on its own is no good idea, so they outsource to research and development service providers. This trend continue to grow with more players emerging in emerging markets, mainly India. Zinnov Management Consulting, engineering research and development (R&D) outsourcing advisor, has released its latest study on global R&D service and the service providers rating for the year 2013. Zinnov quotes "Indian supplier landscape a diverse and mature market place for companies that are looking to source product engineering services." The key findings of the study on research and development outsourcing landscape shared by Zinnov includes: R&D globalization continues to be on the rise and India and China are garnering a major share of the engineering services revenues; Over 225 new R&D centers were set up in India in the last 5 years. Indian service providers continue to retain the lion’s share of the overall Engineering and R&D outsourcing pie – accounting for about 23% of the overall market. Currently the total exports in the Engineering R&D outsourcing segment from India stood at USD 16.3 Billion. However, the growth in the Engineering ...