Press release
Global Automotive Engineering Services Market to Reach USD 260.32 billion by 2028
Automotive Engineering Services
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Vehicle engineering is a subset of automotive engineering services that also includes advanced safety engineering, automotive electronics, electrical, software, and mechanical engineering. Automotive engineering services are crucial to the development, design, operation, and production of both passenger automobiles and commercial vehicles. These services are also intended to improve the manufacturing process and reduce additional expenses. The desire for in-vehicle technological advancements that would enable wider penetration of services like smart infotainment and remote diagnostics as well as improved connection solutions will drive the market's growth. One of the main challenges is that new inventions take a lot of time and money to develop and are restricted from being used continuously by service providers by intellectual property rules.
Read Market Research Report, "Global Automotive Engineering Services Market by service type (Designing, Prototyping, System Integration, Testing), Application (ADAS & Safety, Electrical, Electronics & Body Controls, Chassis, Connectivity Services, Interior, Exterior & Body Engineering, Powertrain & Exhaust, Simulation, Others), and Region -Forecast and Analysis 2022-2028" by SkyQuest.
Asia Pacific had the highest market share in 2021, due to an increase in the adoption of electric vehicles. The market is anticipated to expand as a result of the numerous government initiatives and strict restrictions to minimize carbon emissions in nations like Japan and South Korea. Throughout the projected period, the market in North America is anticipated to rise steadily. Some of the key reasons propelling the market's expansion include the rising sales of hybrid and plug-in hybrid electric vehicles and the rising demand for in-vehicle connectivity in passenger automobiles. Throughout the projection period, Europe is anticipated to have rapid market growth. Factors like the existence of large market competitors and growing concerns about carbon emissions in nations like Germany and France are anticipated to fuel market growth.
The prominent market players that are constantly adopting various innovation and growth strategies to capture more market share are Capgemini (France), IAV Automotive Engineering (Germany), Tech Mahindra (India), and AKKA Technologies (Belgium), and Bertrandt AG (Germany). The key strategies adopted by these companies to sustain their market position are new product developments, mergers & acquisitions, supply contracts, partnerships, expansions, collaborations, acquisitions, and contracts & agreements.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Automotive Engineering Services Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
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Report Findings
● Drivers:-Automotive OEMs and Tier 1 partners have made large investments in the creation of the next generation of connected vehicles. Ultrasonic sensors, high-definition cameras, and IoT devices are common in luxury sedans and SUVs. Together, these many elements create an ecosystem that can exchange data and communicate with the outside world to enhance the driving experience. Data is processed by an onboard computer to provide a variety of services, such as precise navigation and customizable infotainment systems. The data can also be used to forecast engine problems, schedule maintenance, and assess the condition and health of the vehicle.
● Restraints:- In other cases, the OEM is the proprietor of newly developed intellectual property for technologies or processes that emerged throughout the entire process. Service providers may still work with numerous OEMs for the same requirements or specifications, despite the restriction of using the present technology that many OEMs have already copyrighted. Service providers should consequently take extra care to adhere to IP violation legislation. Innovation in the automotive sector costs a lot of time and money. The usage of engineering service technology may be constrained by IP restrictions that prohibit service providers from utilizing the same technology more than once.
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SkyQuest has segmented the Global Automotive Engineering Services Market based on Product Type, Distribution Channel, and Region:
● Global Automotive Engineering Services Market by Service Type (Revenue, USD billion, 2021 - 2028)
○ Designing
○ Prototyping
○ System Integration
○ Testing.
● Global Automotive Engineering Services Market by Application (Revenue, USD billion, 2021 - 2028)
○ DAS & safety, electrical
○ electronics & body controls
○ connectivity services
○ interior, exterior & body engineering
○ powertrain & exhaust
○ Simulation
○ others
● Global Automotive Engineering Services Market By Region (Revenue, USD billion, 2021 - 2028)
○ North America
■ US
■ Canada
○ Europe
■ Germany
■ France
■ UK
■ Italy
■ Spain
■ Rest of Europe
○ Asia Pacific
■ China
■ India
■ Japan
■ Rest of Asia Pacific
○ Central & South America
■ Brazil
■ Rest of CSA
○ Middle East & Africa
■ GCC Countries
■ South Africa
■ Rest of MEA
Read Full Study : https://skyquestt.com/report/automotive-engineering-services-market
Key Players in the global Automotive Engineering Services Market are
● Capgemini (France)
● IAV Automotive Engineering (Germany)
● Tech Mahindra (India)
● AKKA Technologies (Belgium)
● Bertrandt AG (Germany)
● HARMAN International (US)
● ALTEN (France)
● Valmet Automotive (Finland)
● L&T Technology Services Limited (India)
● FEV Europe GmbH (Germany)
● HCL Technologies Limited (India)
About Us-
SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals.
Contact Us-
SkyQuest Technology Consulting Pvt. Ltd.
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 617-230-0741
Email- info@skyquestt.com
Website: https://www.skyquestt.com/
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