The automotive engineering service providers' market share is estimated to grow at a CAGR of 8.2% between 2022 and 2027. The size of the market is forecast to increase by USD 8,381.88 million. The automotive engineering service providers market will witness a YOY of 7.38% in 2023.
“Increasing vehicle digitization and electrification and development of autonomous vehicles will boost the market growth”, says a senior analyst at Technavio.
Browse Technavio's 177-page report and in-depth TOC on "Automotive Engineering Service Providers (ESP) Market by service (powertrain, complete vehicle, electrical/electronics, and others) and geography (APAC, North America, Europe, Middle East and Africa, and South America).
View detailed Table of Contents Here: https://www.technavio.com/report/automotive-engineering-service-providers-market-industry-analysis
The automotive engineering service provider's market growth by the powertrain segment will be significant during 2023-2027. The increasing need for rigorous testing and validation methodologies for automobile engines and their components due to increasingly stringent emission standards will contribute significantly to the growing market for automotive engineering service providers. Europe will contribute 30% of the growth rate during the forecast period.
Some of the key automotive engineering service providers' market vendors are AKKA Technologies SE, Altair Engineering Inc., AVL List GmbH, Bertrandt AG, Capgemini Service SAS, EDAG Group, EPAM Systems Inc., FEV Group GmbH, HCL Technologies Ltd., Hitachi Ltd., IAV GmbH, KPIT Technologies Ltd., L&T Technology Services Ltd., Mahindra & Mahindra Ltd., Onward Technologies Ltd., Ricardo Plc, ASM Technologies Ltd., Belcan LLC, Contechs Holdings Ltd., and Magna International Inc.
Some of the Vendor Offerings are:
akka-technologies.com- The company offers automotive engineering service providers for powertrains.
altair.com- The company offers automotive engineering service providers for electric vehicles.
Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact on the market in focus. Download the PDF Sample Report
The automotive engineering service providers market report covers in-depth information about key vendors and their product offerings.
The key driver, trends and challenges, market opportunities, and the detailed market impact analysis
Five force analysis to analyze the potential of buyers and suppliers and the competitive industry scenario.
Automotive engineering service providers industry across APAC, North America, Europe, Middle East and Africa, and South America.