Press release
Automotive Engineering Services Market 2019 Share and Forecast to 2026 | Keyplayers Harman, Capgemini, AVL, Bertrandt, Alten Cresttek, L&T Technology Services, etc.
Automotive Engineering Services Market Growth- CAGR of 13.4% by 2026
The major drivers responsible for the growth of the automotive engineering services market include a rise in the spending of the automotive R&D, the increased outsourcing activities by automotive OEMs, and growing ER&D investment by software and telecom companies in connected and autonomous verticals.
Get a Sample Copy of this Report before you purchase free of cost! @:https://www.reportsanddata.com/sample-enquiry-form/2353
Vehicle electrification, smart mobility, and Internet of Things (IoT) are the key technology-driven trends in the global automotive industry and is positively impacting the automotive engineering services market. Further, automotive engineering service providers are increasingly being analysed as critical partners, who can help accelerate the product development cycles and reduce costs and time in this fast-changing automotive landscape.
Automotive companies around the globe are witnessing the need to grow their engineering capabilities, to keep pace with rising customer demand for new products and technology. While such demands are usually beneficial for business, but it poses bigger challenges.
In market segmentation by manufacturers, the report covers the following companies:-
Harman, Capgemini, AVL, Bertrandt, Alten Cresttek, L&T Technology Services, FEV, Akka Technologies, HCL Technologies, IAV Automotive Engineering, Altran, Ricardo and others. Automotive Engineering Services marketplace
The continuous pressure to quickly design, prototype, manufacture, and launch new products in the market, in response to always declining product lifecycles and higher demand, is placing a strain on the in-house engineering workforces and operating processes of auto OEMs.
For the purpose of this study, Reports and Data have segmented the industry by Service Type, by Nature, by Application, by Location and by Region:
Automotive Engineering Services by Service Type (Revenue, USD Million; 2019-2026)
Concept/ Research
Designing
Manufacturing Support
Validation and Predictive Engineering Analytics
Prototyping
System Integrator
Testing
Automotive Engineering Services by Nature (Revenue, USD Million; 2019-2026)
Body-Leasing
Turn-Key
Automotive Engineering Services by Application (Revenue, USD Million; 2019-2026)
Electrical, Electronics and Body Controls
Chassis
Embedded Systems and Infotainment (HMI Platform, Media Subsystem, Telematics Solution, Instrument Clusters)
Interior and Exterior Body
Powertrain and Exhaust
Simulation
Get this report at a special discounted price, visit @https://www.reportsanddata.com/discount-enquiry-form/2353
Automotive Engineering Services by Location (Revenue, USD Million; 2019-2026)
Offshore
Onshore
Automotive Engineering Services by Region (Revenue, USD Million; 2019-2026)
North America (US, Canada, Mexico)
Europe (Germany, France, UK, Spain, Italy, Benelux, Rest of the Europe)
Asia Pacific (China, India, Japan, South Korea, Singapore, Rest of Asia-Pacific)
Middle East and Africa
Latin America (Brazil, Argentina, Rest of Latin America)
Automotive OEMs significantly contribute to the key share of the total engineering services outsourcing to the automotive engineering service providers. The key global engineering outsourcers, like BMW, Volkswagen, Renault, Daimler, and Ford, among the others, have an aggregated automotive engineering services spending of ~$8 billion, per year. Hence, auto OEMs' existing engineering capabilities coupled with outsourced services, to meet current product development needs, OEMs are decreasing operating costs and bet on their higher sustained growth.
Further, growing intense competition in the automobile industry and auto OEMs increasing focus on concentrating on their key capabilities boosting the global automotive engineering services market.
Further key findings from the report suggest-
The embedded system segment is projected to witness the highest growth over the forecast period.
The increasing concerns regarding passenger's and driver's safety in cars, increasing AI integration in the entire automotive ecosystem for driving assistance & automation, and stringent government regulations are the major factors fueling the demand of embedded systems
European region is anticipated to occupy the highest share in the automotive engineering services market, followed by Asia Pacific and North America region. Most of the automotive engineering service companies are concentrated in Europe.
India accounts for ~30% of all the entire business process outsourcing (BPO) and engineering service outsourcing (ESO) and talent, among the lesser cost countries.
Electronics and electrical systems play a critical role in handling all functions dedicated to passenger and driver comfort and convenience. Services in automotive electronics consist of climate control, power management module, and similar offerings. This trend is anticipated to grow owing to the adoption of complex electronics and electric vehicles
Automotive engineering service providers like Harman, L&T Technology Services and FEV have invested huge resources to develop electronics electrical, and body control solutions in automotive engineering services market
Within European region, Germany is expected to be the major market for engineering services. In Asia-Pacific region, India is expected to be the market with the highest share of the engineering services market.
The engineering service outsourcing segment, in the country, is shifting from the conventional back-office services of the past to the high-end technology work, and is now serving multiple growing sectors, including automotive
In 2019, Geely Auto (China-based company automobile manufacture) partnered with Ricardo (UK based, global engineering and strategic, technical and environmental consultancy)
The partnership is aimed to build advance hybrid transmission precisely for range-extended PHEV (plug-in hybrid electric vehicles)
To get a detailed Table of Content, Visit Here @https://www.reportsanddata.com/report-detail/automotive-engineering-services-market
Reasons for Purchasing the Automotive Engineering Services Market Report:
The report gives a detailed description of different market elements and the changing competitive landscape, helping the reader gain a competitive edge.
It also takes a holistic approach to give a 360° view of the industry, listing the drivers and restraints existing in the market.
The Global Keyword Market intelligence report offers accurate market insights for a period of eight years, which have been derived after an in-depth evaluation of industry-wide data.
The data provided in the report is intended to help readers make business decisions to capitalize on the existing opportunities in the key market segments and sub-segments.
Overall, this report provides a clear view of every vital factor of the market without the need to refer to any other research reports or data sources. Our report will equip you with all the strategically vital facts about the past, present, and future of the market.
Contact Us:
John Watson
Head of Business Development
Direct Line: 212-710-1370
E-mail: sales@reportsanddata.com
40 Wall St. 28th floor New York City, NY 10005 United States
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Engineering Services Market 2019 Share and Forecast to 2026 | Keyplayers Harman, Capgemini, AVL, Bertrandt, Alten Cresttek, L&T Technology Services, etc. here
News-ID: 1940812 • Views: …
More Releases from Reports and Data
U.S. Electric Vehicle Charging Infrastructure Market Surges Toward $56.73 Billio …
The U.S. Electric Vehicle (EV) Charging Infrastructure Market reached a value of USD 5.48 billion in 2024 and is projected to surge to USD 56.73 billion by 2034, fueled by a robust CAGR of 26.1% over the period. This unprecedented growth underscores the sector's central role in decarbonizing transportation and meeting the soaring demands of electric mobility.
Market Drivers
Federal & State Policies: Major initiatives, including the Bipartisan Infrastructure Law and significant…
Automotive Refurbished Turbochargers Market to Reach USD 1.7 Billion by 2034, Dr …
The global Automotive Refurbished Turbochargers Market is set to grow from USD 0.9 billion in 2024 to USD 1.7 billion by 2034, recording a steady compound annual growth rate (CAGR) of 6.00%. This growth is being propelled by rising demand for affordable, fuel-efficient automotive solutions and stricter environmental regulations pushing the need for emission-reducing technologies.
Get Free Sample Report and Related Graphs & Charts @https://www.reportsanddata.com/sample-enquiry-form/19490
Passenger vehicles remain the largest segment of…
Automotive Powertrain Cooling System Market to Reach USD 8.2 Billion by 2034, Dr …
The global Automotive Powertrain Cooling System Market is projected to grow from USD 4.3 billion in 2024 to USD 8.2 billion by 2034, at a CAGR of 6.60%, according to the latest market study. This growth is fueled by the rising demand for fuel-efficient vehicles, increasing electric vehicle (EV) sales, and stricter global emission regulations.
Request a Sample Report with Table of Contents and Figures to click Here: @ https://www.reportsanddata.com/sample-enquiry-form/19489
Electric and…
Automotive Inverter Market to Reach USD 16.9 Billion by 2034 Driven by EV Growth
The global Automotive Inverter Market is on track for strong expansion, with forecasts projecting it will rise from USD 4.8 billion in 2024 to USD 16.9 billion by 2034, marking a compound annual growth rate (CAGR) of 13.2%. This rapid growth is being propelled by the increasing adoption of electric and hybrid vehicles, along with continued innovation in inverter technologies.
Electric vehicles (EVs) are the main driver behind this surge, as…
More Releases for Auto
Auto Leads: Revolutionizing Lead Generation for Auto Detailers
Auto Leads, a digital marketing company specializing in helping auto detailers grow their businesses, has quickly become a leader in lead generation for the industry. Founded by Austin Kennedy, a former auto detailer with three years of hands-on experience, Auto Leads offers a solution to help detailers attract high-quality customers, particularly for premium services like Ceramic Coating.
What Auto Leads Is
Auto Leads focuses on digital marketing solutions for auto detailing businesses,…
Winter Park Auto Repair: Cech Auto Unveils Auto Repair Financing, Expert Service …
Image: https://www.getnews.info/wp-content/uploads/2024/10/1730165920.png
Cech Auto announces the launch of flexible auto repair financing, offering Winter Park customers accessible payment solutions for essential vehicle maintenance and repairs.
A leading Winter Park auto repair [https://www.cechauto.com/] shop, Cech Auto unveils its new auto repair financing option, providing customers with flexible payment solutions for all repair services. With competitive financing plans available, Cech Auto makes essential vehicle maintenance and repairs more accessible, ensuring that customers can address…
Auto Locksmith America Revolutionizes Auto Locksmith Services Nationwide
Newsdesk, March 22, 2024 - Auto Locksmith America Revolutionizes Auto Locksmith Services Nationwide Employing state-of-the-art tools and technology, the company ensures a seamless, hassle-free experience for clients.
Auto Locksmith America, a prominent auto locksmith company headquartered in Mississippi, unveils its latest suite of services and enticing offers tailored to cater to a spectrum of auto locksmith needs. With nearly 14 years of steadfast service, the company stands as a beacon of…
Auto Chess Game Market | Auto Chess, Dota Auto Chess, Hearthstone, Honor Of King …
The global auto chess game market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the auto chess game market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth…
E-Commerce Automotive Aftermarket | (Flipkart, eBay, Auto Zone, Advance Auto Par …
The growing emergence of creative business models is one of the pivotal factors propelling e-commerce automotive aftermarket industry share. At present, the store, brokerage, and social commerce models have been intensely contributing toward the growth of online commerce. Taking into account the growing popularity of electronic commerce across the automotive sector, many giants in e-commerce automotive aftermarket have been making heavy investments to enhance their storage capacity by developing new…
Auto Driveaway Provides Reliable and Safe Auto Shipping Services
FOR IMMEDIATE RELEASE
Philadelphia, PA: Recently, Auto Driveaway has been awarded for being one of the most reliable and secure auto shipping companies in the country by renowned entities. The company has more than 40 offices across the country that helps to track and update every detail about the consignment. Every delivery is managed professionally resulting in scheduled delivery without providing any damage, dent or issues to the vehicle.
The company provides…
