Digital Engineering spend set to increase by 1.7X, crossing USD 1 Tn by 2025, says Zinnov

NEW YORK, Dec. 1, 2022 /PRNewswire/ -- The appetite for digital will continue to rise unabated over the next 3 years, fueled by macroeconomic factors including rise in defense spending, increased semiconductor usage, and a heightened focus on sustainability. Zinnov's analysis reveals that Digital Engineering spends will constitute nearly 53% of the overall Global Engineering R&D (ER&D) spending by 2025, owing to the unrelenting pace of innovation across industries. The study titled, "The Unabated Rise of Digital Engineering," is a benchmark for business leaders across verticals to identify strong partners for faster and more efficient deployment of ER&D-led services initiatives across geographies. Apart from evaluating the Global ER&D landscape, the study also estimates the Global ER&D spend by organizations across verticals. This spend will grow at a 6% CAGR to touch USD 2.03 Tn by 2025, as enterprises double down on their digital investments to fortify their market positions.