Automotive Engineering Services Market Overview
Automotive Engineering Services: Market Introduction & Market Dynamics
Automotive engineering services incorporates servicing and diagnostic of electrical, mechanical, electronics, and software systems of a vehicle. Automotive engineering services provider develop, design, fabricate, & test component of a vehicle or the whole from the concept phase to use phase. It could either be outsourced by the manufacturers or done by themselves called in-house automotive engineering services.
The demand for advanced and autonomous connectivity features is influencing innovation intensely for the automotive engineering services, in turn, changing the face of automotive industry. To be in line with the increasing demand for connectivity, vehicle manufacturers are developing and acquiring new expertise in vehicle software and electronic services, thereby, venturing into automotive engineering services field.
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In the global automotive engineering services market, telematics is considered to be the prominent growing trend owing to the expansion of vehicle testing, connected cars, and integration of AI (Artificial Intelligence), which has increased the demand for automotive engineering services. Smart infotainment, parking assist services, and vehicle diagnostic services enable more than partial control of a vehicle. Therefore, over the forecast period, the connectivity services is expected to gain significant traction in the global automotive engineering services market.
Also, day by day the number of tier-1 OEMs offering automotive engineering services is expanding. For instance, in 2018, Huawei Technologies Co., Ltd. and AUDI AG entered into a partnership to develop connectivity features for vehicles. In the first quarter of 2019, the Renault-Nissan-Mitsubishi coalition announced the launch of Alliance Intelligent Cloud that will offer connectivity services to the vehicles manufactured by MITSUBISHI MOTORS CORPORATION, Nissan Motor Corporation, and Groupe Renault. This, in turn, is stipulated to accentuate the need of automotive engineering services during the projected period.
Automotive Engineering Services: Regional Market Outlook
The swelling consumer demand for enhanced and reduced emission vehicle is expected to compel the vehicle manufacturers to redesign the exhaust powertrain system. Also, the vision of European countries to reduce the level of emission to three-fourth of the current situation is anticipated to boost the overall demand for electric powertrain. Henceforth, expanding the production of electric vehicles in the region, thereby, fueling the revenue share of automotive engineering services in Europe.
On the country level, Germany is the foundation of automotive industry and hub of the tier-1 players of automotive engineering services market, and the ongoing collaboration between engineering service providers and vehicle manufacturers is predicted to place the country on top, in terms of growth, in the global automotive engineering services market. Similar inclination towards adoption of technically enhanced products in Americas is stipulated have significant impact on the automotive engineering services market.
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Automotive Engineering Services: Market Key Players
Some of the major participants operating in the global automotive engineering services market include the following players:
- FEV Group GmbH
- ALTEN Group
- L&T Technology Services Limited
The research report presents a comprehensive assessment of the Automotive Engineering Services market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments, such as geographies, application, and industry.
The Automotive Engineering Services report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges in the market
- Competition & Companies involved in the market
- Automotive Engineering Services Technology
- Value Chain of the Automotive Engineering Services market
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The Automotive Engineering Services regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The global report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Automotive Engineering Services report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.