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DUBLIN-(BUSINESS WIRE)–Report “Global Automotive Engineering Services Market Report 2022” has been added ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the key information they need to assess the global automotive engineering services market.
The global automotive engineering services market is expected to grow from USD 199.0 billion in 2021 to USD 220.9 billion in 2022 at a compound annual growth rate (CAGR) of 10.96%.
The growth is largely due to companies continuing to operate and adjusting to a new normal as they recover from the impact of COVID-19, which previously led to restrictive containment measures including social distancing, remote working and the closure of commercial activities that resulted in operational challenges. . The market is expected to reach USD 336.0 billion in 2026 at a CAGR of 11.06%.
The mentioned companies
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Capgemini Se
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IAV GmbH
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Tech Mahindra Limited
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AKKA Technologies
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Bertrandt AG
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Harman International Industries Inc.
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Alten Cresttek
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L&T Technology Services
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Fev Europe Gmbh
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Akka Technologies
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AVL
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FEB
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Ricardo
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EDAG Engineering GmbH
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Valmet Automotive
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Onward Technologies Ltd.
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T-NET JAPAN Co. Ltd.
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Kistler Group
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Continental AG
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Semcon
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Robert Bosch GmbH
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Suitable for supporting your internal and external presentations with reliable data and high quality analysis
The automotive engineering services market consists of the sale of automotive engineering services by entities (organizations, sole traders and partnerships) that include mechanical, electrical, software, safety and electronic engineering for automotive design.
Automotive engineering services optimize the manufacturing process to improve overall vehicle operational efficiency. Automotive engineering services offer advanced and innovative features in comfort, infotainment and safety through the integration of advanced electronics into vehicles.
The main types of vehicles covered by automotive engineering services include passenger and commercial vehicles. Passenger cars are designed and manufactured to carry passengers and have fewer than eight seats, excluding the driver’s seat. Different types of automotive engineering services include concept/research, design, prototyping, system integration, and testing.
Automotive engineering services are located onshore and offshore for various applications such as electrical, electronics and body controls, ADAS and safety, chassis, connectivity services, powertrain and exhaust, interior, exterior and body engineering and simulation.
Asia-Pacific was the largest region in the automotive engineering services market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing demand for emission-free transportation is expected to drive the growth of the automotive engineering services market. The use of fossil fuels such as diesel and gasoline releases greenhouse gases such as carbon dioxide, methane, fluorocarbons and nitrous oxide into the atmosphere, leading to climate change and thereby increasing the demand for emission-free transport media such as electric vehicles.
For example, in 2021, sales of electric cars will double to 6.6 million from 3 million in 2020. Growing demand for zero-emission transportation reduces fossil fuel consumption and lowers greenhouse gas emissions. The demand for emission-free transportation along with increased awareness about emission-free transportation is expected to drive the automotive engineering services market.
The use of artificial intelligence (AI) in automotive engineering is a key trend that is gaining popularity. Helpful AI algorithms and controllers help provide realistic driving range estimation and optimize energy savings in electric vehicles, ultimately helping to add additional driving range. Artificial intelligence is also at the core of self-driving cars, which are becoming increasingly popular in the automotive industry.
For example, in 2021, US carmaker Ford collaborated with Google to leverage artificial intelligence to improve customer experience, accelerate the modernization of product development, improve manufacturing and supply chain management, and accelerate the implementation of data-driven business models.
The countries covered in the Automotive Engineering Services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
For more information on this report, visit https://vvv.researchandmarkets.com/r/9ivvk9
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