R&D offshoring market in India to touch $13.1 billion in 2011
Monday, 23rd May 2011
With emerging verticals like industrial automation, healthcare, aerospace and defense projected to drive the next league of growth, R&D offshoring or outsourced product development (OPD) market in India is expected to touch $13.1 billion this year, registering a growth of 11.4% over last year, a recent study by Zinnov Management Consulting says.
Of the overall R&D offshoring market in India, telecom and software currently contribute more than 50% of the total spend, however the emerging verticals are expected to grow at about 20% in the coming years.
Publication : Financial Express