Recessionary concerns exerted a significant influence on enterprise decision-making in 2023, driven by factors such as depleting pandemic savings, high-interest rates, global demand slowdown, rising oil prices, and ongoing geopolitical uncertainties. Despite these challenges, enterprises displayed adaptability and strategic responsiveness to emerging trends while actively pursuing profitability and optimizing costs. As a result, global Engineering Research and Development (ER&D) spending continued its upward trajectory. At the same time, as enterprises prioritized profitability and streamlined discretionary spending, ER&D services outsourcing grew at a slower-than-expected pace.
In this research, we examine the key macroeconomic and technology trends that will shape ER&D spending and outsourcing in 2024.
Scope
Industry: ER&D
Geography: global
Contents
This research presents Everest Group’s view on the key macroeconomic and technology trends that will shape ER&D spending and outsourcing in 2024.
In an era of ceaseless change, ever-evolving market dynamics, and an unrelenting demand for progress, the traditional pace of value creation is no longer enough. Creating accelerated value has become paramount for business leaders.
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