Global Technology Scouting Service Market is anticipated to witness a major rise in its revenue from US$ 1,069.43 Mn in 2021 to US$ 1,813.36 Mn by 2030. The market is registering growth at a CAGR of 6.25% over the projection period 2022-2030. Technology scouting is an element of technology management in which emerging technologies are identified and technology-related information is channeled into an organization. Technology scouting combines expertise, research, and proven processes for road-mapping innovation that can impact businesses.

The market is majorly driven by the rising demand from various end-user industries. Technology scouting services are essential as even major organizations are at risk of being left behind by their competitors, startups, or scaleups, due to the rapid pace of technological advancement. Industries such as electronics & communication, packaging, architecture, computer science & IT, food & beverages, metallurgy & material science, agriculture, telecom, chemicals, and others are propelling the demand for technology scouting services. Moreover, many prominent firms such as IBM, BAE Systems, and so on are already utilizing technology scouting to address current difficulties such as market volatility, fast-changing client expectations, and increased rivalry as a result of the rapid speed of technological advancement. Furthermore, the development of AI-based technology in the technology scouting market is expected to present a lucrative opportunity for market growth during the forecast period. However, the number of players in the technology scouting market is significantly high creating an intense rivalry among the players. 

Key Insights of the Report: 

• The latest study published by Astute Analytica analyzes the global technology scouting service market for the study period of 2017-2030; where the historical years are 2017-2020, the base year is 2021, and the forecast period is 2022-2030.
• The research report offers a detailed study of market determinants including market drivers, restraints, opportunities, and trends; along with an attractive presentation in the form of impact analysis to gain a simpler and easy comparison view of all market determinants.
• The research study is a compilation of 11 chapters distributed across 138 pages with 30 lists of tables and 74 lists of figures.
• The market is segmented based on deployment, services, enterprise size, end-users, industry, and region.
• The market estimates are presented in terms of value (US$ Mn).
• Along with market estimations, the market study was conducted based on various economic models such as PESTLE and Porter’s five force models.
• A detailed value chain analysis of the industry was conducted. It includes technology providers, integrators, service providers, and end-users.
• The competitive dashboard section includes analysis based on the Concentration Ratio (CR), based on market size, and the market presence of key companies.

Key Takeaways from the Global Technology Scouting Service Market Report:

• Based on deployment the cloud-based deployment segment holds the highest market share in 2021 and registers the highest CAGR over the projection period. This is due to the increased speed and simplified scalability offered by cloud-based systems. Furthermore, businesses are increasingly adopting cloud-based technologies due to various benefits offered by them such as cost-efficient platforms, ease of management, and access.
• In terms of services, innovation and technology services have the highest market share in 2021 and are projected to continue their dominance over the projection period. This is due to the prominent role played by these services in various end-user industries. For instance, in the consumer electronics sector, innovations play a crucial role and contribute to the shift in sales dramatically over a short period.
• Based on enterprise size, the large enterprises contribute to the major market share in 2021 owing to the need to deploy more cost-effective and efficient marketing strategies. However, the small & medium-sized enterprises register the highest CAGR over the forecast period.
• In terms of end-users, corporates are the highest shareholders in the Global Technology Scouting Service Market in 2021. This is because corporates benefit by having timely access to innovative and potentially disruptive technologies, staying ahead of competitors, diversifying product lines and revenue streams, and acquiring or collaborating with more expertise.
• Further, in terms of industries, computer science & IT occupies the highest share in the technology scouting market in 2021. However, the packaging segment holds the highest annual compound growth rate for the forecast period 2022-2030.
• North America is the highest shareholder region in the Global Technology Scouting Service Market in 2021 and is projected to continue its dominance over the projection period. The regional dominance of North America is attributed to the presence of key market players.

Competitive Landscape

The key players in the global technology scouting service market are Advanced Technology innovations, DAF Technologies, Darcy Partners, Erdyn, Fuelup, and Iceberg IP Group, among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions to have a grip on the emerging markets. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

Segmentation Overview

The Global Technology Scouting Service Market is segmented based on deployment, services, enterprise size, end-users, industry, and region. These segments are further subdivided to get a holistic picture of the market.  

The following are the different segments of the Global Technology Scouting Service Market:

By Deployment segment of the Global Technology Scouting Service Market is sub-segmented into:

• Cloud
• On-Premises

By Services segment of the Global Technology Scouting Service Market is sub-segmented into:

• Professional Services
• Platform Services
• Innovation & Technology Services
• Research Services
• Search Services

By Enterprise Size segment of the Global Technology Scouting Service Market is sub-segmented into:

• Large Enterprises
• Small and Medium Enterprises

By End Users segment of the Global Technology Scouting Service Market is sub-segmented into:

• Corporates
• Innovative Start-ups
• Technology Companies
• Others

By Industry segment of the Global Technology Scouting Service Market is sub-segmented into:

• Electronics & Communication
• Packaging
• Architecture
• Computer Science & IT
• Food & Beverages
• Metallurgy & Material Science
• Agriculture
• Telecom
• Chemicals
• Others

By Region segment of the Global Technology Scouting Service Market is sub-segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA