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In 2022, the market for automotive engineering services was estimated to be worth USD 19.19 billion. According to projections, the market will increase from USD 19.58 billion in 2023 to USD 28.89 billion in 2030, growing at a CAGR of 6.7% throughout that time. The COVID-19 pandemic has had an unusual and shocking impact on the world, and demand for automotive engineering services has been lower than expected in all regions compared to pre-pandemic levels. Our research shows that the global market will have a reduction of 4.59% in 2020 compared to 2019.
The majority of the time, automotive engineering services are utilised to create, design, and prototype new automobile components. These services also include system integration, virtual testing, and the construction of passenger and commercial vehicles. Additionally, these services are designed to enhance manufacturing while lowering additional costs. From the concept stage through the actual production stage, it entails services like analysing, developing, designing, prototyping, system integration, and testing a specific system or set of vehicle parts. It has three primary roles: manufacturing, development, and production. The service type may be related to engineering solutions for the interior, exterior, and body of automobiles, safety, software, electrical electronics, and body controls. Without sacrificing the quality of the vehicle, these technical solutions streamline the production process to increase the business' operational cycle.
DRIVING FACTORS
Customers can use the mobile app of the manufacturer to remotely monitor and manage their vehicles thanks to connected services integrated into the automobile industry. With the use of this phone, the user may quickly locate their cars. Using connected services technology, the user can also monitor the vehicle's mileage, unlock the doors and pre-heat the batteries. Different vehicle manufacturers' connected services have unique smartphone applications and functions. For instance, Audi has a smartphone app called my Audi and a connected service called Audi Connect.
As a result, the expansion of the market for automotive engineering services is anticipated to be driven by the development of linked services in accordance with OEM standards. The table below lists a few of the mobile-connected services. Businesses like WirelessCar are concentrating on accelerating the creation of connected vehicle features.
RESTRAINING FACTORS
A variety of features and services are made available by the growing integration of computer-related technologies offered with connected and automated services. Along with this, the risk of malicious attacks also grows, which can lead to serious failure and operational malfunctions in vehicle-controlled systems. The expansion of the market for automotive engineering services is hampered by the need to ensure the safety of such vehicles with electronic and electric architecture and components. The idea of a connected car introduces a new risk because the vehicle will be connected to and interacting with various gadgets all over the world. While OEMs are attempting to increase the security of the connection, new and sophisticated systems are raising the security risk.
In order to deliver better performance and a number of cutting-edge features, the car industry is becoming more and more dependent on computer technologies. Therefore, as vehicle connectivity increases, security restrictions also expand, which may affect how well a car works and limit market expansion. However, major businesses are concentrating on creating security features to better protect the car and its owner from thieves and hackers. The governments of numerous nations are attempting to reduce the dangers posed by vehicle cyber security, along with international standardisation organisations.
Report Coverage
Global Automotive Engineering Services research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Engineering Services report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Engineering Services competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Engineering Services market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Engineering Services market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Engineering Services market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Harman International (U.S.), FEV Group (Canada), L&T Technology Services Ltd. (India), Robert Bosch GmbH (Germany), Continental AG (Germany), Bertrandt AG (Germany), Capgemini Engineering (France), AVL (Austria), EDAG Engineering GmbH (Switzerland), IAV GmbH (Germany)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Automotive Engineering Services market based on the below-mentioned segments:
Global Automotive Engineering Services Market, By Type
Mechanical
Embedded
Software
Global Automotive Engineering Services market, By Application
Body Engineering
Chassis Engineering
Powertrain Engineering
Safety Systems
Infotainment Systems
Others (Wheel Assembly and Autonomous & Connected Cars)
Global Automotive Engineering Services market, Regional Analysis
The majority of the time, automotive engineering services are utilised to create, design, and prototype new automobile components. These services also include system integration, virtual testing, and the construction of passenger and commercial vehicles. Additionally, these services are designed to enhance manufacturing while lowering additional costs. From the concept stage through the actual production stage, it entails services like analysing, developing, designing, prototyping, system integration, and testing a specific system or set of vehicle parts. It has three primary roles: manufacturing, development, and production. The service type may be related to engineering solutions for the interior, exterior, and body of automobiles, safety, software, electrical electronics, and body controls. Without sacrificing the quality of the vehicle, these technical solutions streamline the production process to increase the business' operational cycle.
DRIVING FACTORS
Customers can use the mobile app of the manufacturer to remotely monitor and manage their vehicles thanks to connected services integrated into the automobile industry. With the use of this phone, the user may quickly locate their cars. Using connected services technology, the user can also monitor the vehicle's mileage, unlock the doors and pre-heat the batteries. Different vehicle manufacturers' connected services have unique smartphone applications and functions. For instance, Audi has a smartphone app called my Audi and a connected service called Audi Connect.
As a result, the expansion of the market for automotive engineering services is anticipated to be driven by the development of linked services in accordance with OEM standards. The table below lists a few of the mobile-connected services. Businesses like WirelessCar are concentrating on accelerating the creation of connected vehicle features.
RESTRAINING FACTORS
A variety of features and services are made available by the growing integration of computer-related technologies offered with connected and automated services. Along with this, the risk of malicious attacks also grows, which can lead to serious failure and operational malfunctions in vehicle-controlled systems. The expansion of the market for automotive engineering services is hampered by the need to ensure the safety of such vehicles with electronic and electric architecture and components. The idea of a connected car introduces a new risk because the vehicle will be connected to and interacting with various gadgets all over the world. While OEMs are attempting to increase the security of the connection, new and sophisticated systems are raising the security risk.
In order to deliver better performance and a number of cutting-edge features, the car industry is becoming more and more dependent on computer technologies. Therefore, as vehicle connectivity increases, security restrictions also expand, which may affect how well a car works and limit market expansion. However, major businesses are concentrating on creating security features to better protect the car and its owner from thieves and hackers. The governments of numerous nations are attempting to reduce the dangers posed by vehicle cyber security, along with international standardisation organisations.
Report Coverage
Global Automotive Engineering Services research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Engineering Services report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Engineering Services competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Engineering Services market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Harman International (U.S.), FEV Group (Canada), L&T Technology Services Ltd. (India), Robert Bosch GmbH (Germany), Continental AG (Germany), Bertrandt AG (Germany), Capgemini Engineering (France), AVL (Austria), EDAG Engineering GmbH (Switzerland), IAV GmbH (Germany) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Automotive Engineering Services Market from 2021 to 2030.
- Market Forecast for Automotive Engineering Services Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Automotive Engineering Services competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Automotive Engineering Services
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Engineering Services market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Engineering Services market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Harman International (U.S.), FEV Group (Canada), L&T Technology Services Ltd. (India), Robert Bosch GmbH (Germany), Continental AG (Germany), Bertrandt AG (Germany), Capgemini Engineering (France), AVL (Austria), EDAG Engineering GmbH (Switzerland), IAV GmbH (Germany)
Primary Target Market
- Market Players of Automotive Engineering Services
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Automotive Engineering Services market based on the below-mentioned segments:
Global Automotive Engineering Services Market, By Type
Mechanical
Embedded
Software
Global Automotive Engineering Services market, By Application
Body Engineering
Chassis Engineering
Powertrain Engineering
Safety Systems
Infotainment Systems
Others (Wheel Assembly and Autonomous & Connected Cars)
Global Automotive Engineering Services market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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