NASSCOM report highlights the digital engineering landscape with a significant portion of global ER&D spending going into creation of smart, connected and intelligent products.
The impact of digital engineering, which has been all-pervasive with no industry vertical remaining untouched. The top segments that have seen significant adoption in recent years include automotive, health tech, and industrial.
The global digital engineering sourcing market, which remains relatively untapped and is estimated to constitute ~20% of the overall ~US$90 billion global sourcing market by the end of 2019. It continues to evolve rapidly and is expected to grow at a CAGR of ~25% till 2025.
India would be one of the leading locations for delivering digital engineering services. With India eyeing an aggressive ~US$100 billion share in the ER&D global sourcing market spending by 2025, it is imperative to ensure a significant focus and accelerated capability building in the digital engineering space.
The scope of engagements for service providers and GCCs, which has traditionally been limited to device testing, regulatory compliance, and sustenance engineering, is now extending to product R&D for prototypes, embedded software, device connectivity, remote monitoring systems, and mobile applications.
India’s Energy ER&D exports stood at a little over USD 1 billion in FY2015, a 6 per cent share in India’s total ER&D exports. This sector is dominated by GICs (>55 per cent…
By 2020, offshored ER&D market for aerospace sector will be between USD 4.5-5 billion. India is set to garner anywhere between 40-50 per cent of this market (USD 2.0-2.5 billion).…
