Global Engineering and R&D (ER&D) spending rebounded strongly in 2021 after the COVID-19-induced decline in 2020, with enterprises investing heavily in softwarization and the embedding of digital technologies into their products to meet customer demand for smart and connected products. This shift in consumer demand toward digital has compelled enterprises to quickly repivot their ER&D investments and product offerings toward software, trying to retain a competitive edge through time-to-market.
In this research, we present a fact-based view of the global ER&D market, with a focus on the top 200 enterprises with the highest ER&D spend across 10 industry verticals. Our study found that the global business spend on ER&D activities increased by 13.8% in 2020 to reach US$1.33 trillion, and the enterprises featured in this report accounted for 47% of this spend.
Our research looks at the enterprises’ key investment areas, ER&D spend growth, and spend intensity (ER&D spend as a percentage of revenue). We also capture prominent themes driving growth in the ER&D space, including metaverse, cybersecurity, AI-ML-based applications, shared mobility, low-code-no-code, multi-cloud capabilities, 5G, and connected devices. Further, this report outlines the evolving enterprise ER&D priorities and projects the future growth outlook.
Scope
- Research area: engineering services
- Geography: global
- Industries covered: software products, automotive, aerospace & defense, compute & storage, consumer electronics, industrial products, medical devices semiconductors, telecom equipment providers, and telecom service providers
Contents
This report features:
- ER&D trends and priorities for the top 200 enterprises across 10 industries
- Details of ER&D spend growth, ER&D spend intensity for all enterprises, key investments, and initiatives by industry
Membership(s)
Engineering Services
Software Product Engineering Services
Digital Engineering Services
Sourcing and Vendor Management
