Automotive engineering services market is anticipated to grow at a significant CAGR of 13.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing interest in electric vehicles, increased emphasis on R&D in the automotive industry, and strict government laws designed to reduce vehicle emissions. According to the Alliance for Automotive Innovation (AAI), in November 2022, the combined automotive ecosystem drives more than $1.0 trillion into the US economy each year – 4.9% of GDP. More than $220.0 billion in federal and state revenue is generated annually by the manufacturing, sale, and maintenance of automobiles in the US.
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Autonomous vehicles help execute software and provide transit service without requiring human input. The vehicle is combined with a variety of sensors, actuators, a machine learning system, and sophisticated and potent algorithms. An autonomous car integrates a variety of services, including body electronics, electrical, ADAS, and artificial intelligence-based networking services. Therefore, the market expansion for automotive engineering services is anticipated to be fueled by the development and deployment of autonomous vehicles.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Automotive Engineering Services Market by Vehicle Type
- Passenger Cars
- Commercial Vehicle
Global Automotive Engineering Services Market by Service
- Concept/Research
- Designing
- Prototyping
- System Integration
- Testing
Global Automotive Engineering Services Market by Application
- ADAS and safety
- Electrical, electronics, and body controls
- Chassis
- Connectivity Services
- Interior, exterior, and body engineering
- Powertrain and exhaust
- Simulation
- Battery development and management
- Charger Testing
- Motor controls
- Others (Wheel Assembly and Autonomous System)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Akkodis Group AG
- Altair Engineering Inc.
- AROBS TRANSILVANIA SOFTWARE SA
- ASAP Holding GmbH
- AVL List GmbH
- Bertrandt AG
- Ing. h.c. F. Porsche AG
- EDAG Group
- Embitel
- ESG Elektroniksystem- und Logistik-GmbH
- FEV Group GmbH
- GX Group Ltd.
- HARMAN International Industries, Inc.
- HORIBA Ltd.
- IAV GmbH
- Promwad
- Ricardo plc
- RLE INTERNATIONAL Group
- Tech Mahindra Ltd.
- The Kistler Group
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the automotive engineering services market. Based on the availability of data, information related to new service deployment, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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