According to a industry estimates, globally offshorable revenues of both traditional verticals (Aerospace, Automotive, Telecom, Semiconductors, Consumer Electronics and Construction/Heavy Machinery) and emerging verticals (Computing Systems, Energy, Infrastructure, Industrial Automation and Medical Devices) are expected to cross USD 100 billion. Of this, India will garner a share of around 40 percent, equivalent to USD 40-45 billion. India’s existing share stands at 20% with revenues of around US$ 20 billions.
As the landscape evolves in terms of New Markets, New Industries and Value Chain, and as the Indian Engineering Design and R&D (ER&D) services offshoring industry enhances its value proposition, it is getting increasingly critical for the sector to augment its existing capabilities. It also needs to enter into engagements that lead to end-to-end product development, in order to reach its set targets.
The future is indeed bright for the engineering design services sector, Recent trends show that Engineering Design & R&D activities are moving closer to emerging markets, and the growing confidence among global customers in India’s supply base capabilities. Growth in local markets and the emergence of new verticals are further spurring the evolution of the industry. Higher government spending on infrastructure and energy, increased use of electronic components and communications technologies, convergence of technologies and the search for alternative sources of energy are expected to further drive the demand for offshoring of Engineering design services to India.
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