India's digital engineering (DE) space is growing rapidly, and it is expected to contribute 50% to 60% of the country's overall ER&D (engineering, research and development) revenues in the coming years, according to a report jointly released by Nasscom and Deloitte here on Wednesday.
Digital platforms and tools have been increasingly reshaping connections between businesses, clients, employees, and employers in recent years, resulting in a consistent increase in investments in Digital Engineering (DE) endeavors, as per the report.
Debjani Ghosh, President, NASSCOM said, “India is advancing into the fourth industrial revolution with an optimistic Digital Transformation (DE) revenue amounting to 50-60% in overall ER&D revenues in the coming years.''
The transitory years that passed were responsible for the noticeable rise in the development of the digital infrastructure of the second-most populous nation and largest democracy, she added.
Keerthi Kumar, Partner, Deloitte India said, “India is well positioned to take the pole position in Digital Engineering (DE) domain. Being home to the biggest market for digital consumers with over 500 million internet users and with innate technology capabilities, the country's contribution in DE growth story will be significant.''
DE would play a crucial role in government and industry alike, whether it was for planning or decision making, discovering latest trends or new product creation, he added.
In the field of engineering, research, and development, digital engineering (DE) is gradually displacing traditional engineering as the main force (ER&D). The country has already established a strong presence in this market - thanks to its growing talent pool, developing environment for partnerships, and favorable encouragement towards this industry from government institutions, according to the study.
The study also observed that India was becoming more popular as a location for digital engineering due to various factors. The availability of key technologies like AI, cloud technology, blockchain, automation, and IoT, has transformed how businesses are conducted in the country. Industries such as banking, financial services & insurance, healthcare, consumer packaged goods (CPG), and retail have witnessed a gradual increase in Digital Engineering, it further said.