IMARC Group’s latest research report, titled “Automotive Engineering Services Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global automotive engineering services outsourcing market size. The report also includes competitor and regional analysis, and contemporary advancements in the market.
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.
Automotive Engineering Services Outsourcing Market Overview:
Automotive Engineering Services Outsourcing (AESO) pertains to the delegation of engineering tasks related to vehicle manufacturing to third-party service providers. This kind of strategic collaboration allows automotive companies to enhance operational efficiency, reduce costs, and accelerate product innovation cycles. These services encompass a wide range of tasks such as product design, system engineering, process engineering, product testing, and prototyping. AESO operates by offering an amalgamation of technological expertise, workforce proficiency, and advanced toolsets to execute complex automotive design and manufacturing processes.
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Automotive Engineering Services Outsourcing Market Trends:
The global market is primarily stimulated by the increasing need for sophisticated vehicles equipped with advanced safety and convenience features. In line with this, the widespread availability of skilled engineering service providers capable of rendering quality, cost-effective solutions is providing an impetus to the market. Furthermore, the surge in educational initiatives around STEM disciplines is equipping a larger workforce with essential skills, thereby acting as a significant growth-inducing factor for the market. This market is further driven by the continual expansion of the global automotive industry, necessitating higher investments in innovative design and engineering processes.
Additionally, the growing need for eco-friendly automotive solutions is creating abundant opportunities in the market. Some of the other factors propelling the market include rapid technological advancements, a shift towards more open dialogues about collaborative innovation, and extensive research and development (R&D) activities.
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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 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 Application:
- Autonomous Driving/ADAS
- Body and Chassis
- Powertrain and After-treatment
- Infotainment and Connectivity
- Others
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, and others)
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