Technavio recognizes the following companies as the key players in Global R&D Outsourcing Market 2015-2019: HCL Technologies Ltd, Infosys Ltd, Tata Consultancy Services Ltd. (TCS) and Wipro Ltd.
Other Prominent Vendors in the market are: Aricent, Aspire Systems, Beyondsoft, Blue Star Infotech, Calsoft Labs, Cyient, EPAM Systems, GlobalLogic, iGATE, KPIT Technologies, Larsen & Toubro, MindTree, Pactera Technology International, QuEST Global Services Pte, Sonata Software, Symphony Teleca, Tata Elxsi, Tata Technologies and Tech Mahindra
Commenting on the report, an analyst from Technavio’s team said: “One of many trends in the market is the emerging concept of virtual R&D. Virtual R&D is the process through which firms need to maintain a lean workforce and outsource maximum activities in the process of drug development. The concept of virtual R&D allows companies to reduce the expenses, time, and risks involved in the discovery of the drug.”
According to the report, the need for cost reduction is expected to help drive the growth of the market. In order to sustain in a competitive business environment, enterprises strive to achieve a cost-effective product development cycle. In this regard, R&D outsourcing services enable enterprises to outsource engineering tasks to countries such as India and China, which provide skilled labor at competitive prices.
Further, the report states that a major challenge facing the market is issues pertaining to IP ownership.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-rd-outsourcing-market-2015-2019
Technavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit- https://www.technavio.com/it-hardware-software-services
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