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 market. The automotive engineering services outsourcing outlook 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 refers to the practice of delegating specific tasks and projects related to automotive engineering to external service providers. It includes a wide range of services, such as computer-aided design (CAD) and computer-aided engineering (CAE) services, product development and validation, prototype testing, manufacturing support, technical documentation, and even software development for automotive applications. It allows automotive companies to leverage the expertise and capabilities of specialized engineering firms to streamline their operations and enhance efficiency. It also aids in reducing costs by eliminating the need for substantial infrastructure investments, training programs, and ongoing maintenance expenses. Additionally, it offers flexibility and scalability, enabling companies to quickly adapt to market demands and allocate resources accordingly.
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Global Automotive Engineering Services Outsourcing Market Trends:
Significant growth in the automotive industry is driving the global market. Furthermore, the rising demand for advanced and enhanced connectivity solutions by automotive manufacturers is positively influencing the market. Apart from this, continual advancements in technology, such as the integration of the Internet of Things (IoT), robotics, and artificial intelligence (AI) solutions for improving the modeling and detailing of products, are providing an impetus to the market. Moreover, outsourcing engineering services support companies in their efforts to develop eco-friendly vehicles and technologies. This is creating a positive market outlook. In line with this, the increasing initiatives by the governments to deploy green vehicles for reducing harmful gas discharges and the shifting inclination of original equipment manufacturers (OEMs) toward digitalized solutions is impacting the market favorably.
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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, Other)
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