(2023-2028) Automotive Engineering Services Outsourcing Market Demand, Growth Rate, Companies Share and Forecast

IMARC Group's latest research report, titled "Automotive Engineering Services Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," The global automotive engineering services outsourcing market size reached US$ 96.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 257.9 Billion by 2028, exhibiting a growth rate (CAGR) of 17.1% during 2023-2028.

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Automotive Engineering Services Outsourcing Market Overview:

Automotive engineering services outsourcing (AESO) refers to the practice of contracting out services for the automotive industry, such as design, prototyping, system integration, and testing, to third-party providers. AESO aids to provide cost-effective solutions for automobile companies looking to streamline their operations and reduce overhead costs. Consequently, it finds extensive applications in electric and hybrid vehicles (EVs/HEVs) and passenger and commercial vehicles.

Global Automotive Engineering Services Outsourcing Market Trends:

The increasing demand for electric vehicles (EVs) represents one of the key factors driving the market growth. This, coupled with the rising demand for connected and autonomous driving technologies is contributing to the market growth. Moreover, automotive engineering services outsourcing helps in enhancing the overall efficiencies of the production processes and developing engineering aftermarket assistance, which, in turn, is driving the market growth.

The market is also being driven by the widespread integration of the Internet of Things (IoT), robotics, and artificial intelligence (AI) solutions and the introduction of highly complex designs with the production of energy-efficient and environmentally sustainable vehicle. Other factors, such as the significant technological advancements, steadily expanding automotive industry, growing environmental consciousness, and extensive research and development (R&D) activities, are creating a positive outlook for the market further across the globe.

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Key Market Segmentation:

Top Automotive Engineering Services Outsourcing Companies Worldwide:

• Altair Engineering Inc.
• ALTEN Group
• ASAP Holding GmbH
• AVL List GmbH
• Bertrandt AG
• Capgemini SE
• EDAG Engineering Group AG
• FEV Group GmbH
• Horiba Ltd.
• IAV GmbH (Volkswagen AG)
• P3 group GmbH
• RLE INTERNATIONAL Group.

Breakup by Application:

• Autonomous Driving/ADAS
• Body and Chassis
• Powertrain and After-treatment
• Infotainment and Connectivity
• Others

Breakup by Service:

• Designing
• Prototyping
• System Integration
• Testing
• Others

Breakup by Vehicle Type:

• Passenger Vehicles
• Commercial Vehicles

Breakup by Location Type:

• On-shore
• Off-shore

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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