The automotive engineering services market was valued at USD 168.4 billion in 2018 and is expected to reach USD 460.5 billion by year 2026, at a CAGR of 13.4% CAGR during the forecast period (from 2018 – 2026). The major drivers responsible for the growth of the automotive engineering services market include a rise in the spending of the automotive R&D, the increased outsourcing activities by automotive OEMs, and growing ER&D investment by software and telecom companies in connected and autonomous verticals. Vehicle electrification, smart mobility, and Internet of Things (IoT) are the key technology-driven trends in the global automotive industry and is positively impacting the automotive engineering services market. Further, automotive engineering service providers are increasingly being analysed as critical partners, who can help accelerate the product development cycles and reduce costs and time in this fast-changing automotive landscape.

The Automotive Engineering Services market research report is broadly bifurcated in terms of product type, application spectrum, end-user landscape, and competitive backdrop, which would help readers gain more impactful insights into the different aspects of the market. Under the competitive outlook, the report’s authors have analyzed the financial standing of the leading companies operating across this industry. The gross profits, revenue shares, sales volume, manufacturing costs, and the individual growth rates of these companies have also been ascertained in this section. Our team has accurately predicted the future market scope of the new entrants and established competitors using several analytical tools, such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.

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Geographical Scenario:

The global Automotive Engineering Services market report comprehensively studies the present growth prospects and challenges for the key regions of the Automotive Engineering Services market. The report continues to evaluate the revenue shares of these regions over the forecast timeline. It further scrutinizes the year-on-year growth rate of these regions over the projected years. The leading regions encompassed in this report:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Leading Players Profiled in the Report Include: Harman, Capgemini, AVL, Bertrandt, Alten Cresttek, L&T Technology Services, FEV, Akka Technologies, HCL Technologies, IAV Automotive Engineering, Altran, Ricardo and others. Automotive Engineering Services marketplace

Market Segmentation by product type:

• Concept/ Research
• Designing
• Manufacturing Support
• Validation and Predictive Engineering Analytics
• Prototyping
• System Integrator
• Testing

Market Segmentation by application range:

• Electrical, Electronics and Body Controls
• Chassis
• Embedded Systems and Infotainment
• HMI Platform
• Media Subsystem
• Telematics Solution
• Instrument Clusters
• Interior and Exterior Body
• Powertrain and Exhaust
• Simulation

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Further key findings from the report suggest-

• The embedded system segment is projected to witness the highest growth over the forecast period.
• The increasing concerns regarding passenger’s and driver’s safety in cars, increasing AI integration in the entire automotive ecosystem for driving assistance & automation, and stringent government regulations are the major factors fueling the demand of embedded systems
• Electronics and electrical systems play a critical role in handling all functions dedicated to passenger and driver comfort and convenience. Services in automotive electronics consist of climate control, power management module, and similar offerings. This trend is anticipated to grow owing to the adoption of complex electronics and electric vehicles
• Automotive engineering service providers like Harman, L&T Technology Services and FEV have invested huge resources to develop electronics electrical, and body control solutions in automotive engineering services market

The report considers the following timeline for market estimation:

• Historical Years: 2017-2018
• Base Year: 2019
• Estimated Year: 2027
• Forecast Years: 2016-2026

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