Press Release / Business / Automotive Engineering Services Outsourcing Market Size By Location, By Service, By Application, By Geographic Scope And Forecast

Automotive Engineering Services Outsourcing Market Size By Location, By Service, By Application, By Geographic Scope And Forecast

Automotive Engineering Services Outsourcing Market Size And Forecast
The Global Automotive Engineering Services Outsourcing Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Automotive Engineering Services Outsourcing Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.

Automotive Engineering Services Outsourcing Market was valued at USD 62.22 Billion in 2019 and is projected to reach USD413.83 Billion by 2027, growing at a CAGR of26.8 % from 2020 to 2027.

What is Automotive Engineering Services Outsourcing?
Automotive engineering, alongside aerospace engineering and naval architecture, may be a branch of auto engineering, consolidating elements of mechanical, electrical, electronic, software, and safety engineering as implemented to the planning , manufacture, and operation of motorcycles, automobiles, and trucks and their respective engineering subsystems. It also comprises the modification of vehicles. The manufacturing domain deals with the creation and assembling the entire parts of automobiles is additionally included in it. The automotive engineering field is research-intensive and involves the direct employment of mathematical models and formulas.

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Outsourcing supports a variety of capabilities, such as designing the parts of a vehicle, working with a company’s supply chain, and developing aftermarket support for engineering. Information technology can also serve in making product development processes faster and cost-efficient.Automotive engineering services outsourcing basically deals with tasks such as designing, prototyping, system integration, testing, and much more.

Global Automotive Engineering Services Outsourcing Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

Rising technical capabilities of Engineering Service Providers (ESPs) to offer R&D and product innovation in their offerings for vehicle positioning, connected cars, and guidance systems are predicted to drive the market. Furthermore, the sudden shift in preferences of OEMs for digitized solutions over mechanical and core assistance is supposed to contribute to the market’s overall revenue. The increasing importance of the automotive industry on manufacturing automobiles with five significant trends, namely, Electrified, Autonomous, Shared, Connected, and Yearly updated (‘EASCY’) is expected to provide opportunities to the ESO market players. Furthermore, modular outsourcing has also achieved prominence as the manufacturers are demanding standardized interfaces incorporated with self-contained operative units in their automobiles.

However, rather than procuring services from ESPs, certain OEMs stress on fabricating their end-products in-house at their main centers or captive destinations owing to the complexity of engine design, powertrain design, and transmission systems. The upcoming concerns around the disclosure of intricate designs of automobiles and intellectual property rights have enforced the OEMs to establish their manufacturing units at off-shore locations. Transformation of business models wherein the manufacturers are now designing the product in-house is forecasted to be a roadblock to the otherwise growing market.

Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Automotive Engineering Services Outsourcing Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.

Global Automotive Engineering Services Outsourcing Market Competitive Landscape
The “Global Automotive Engineering Services Outsourcing Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as AVL, Bertrandt, Edag Engineering Gmbh, Iav Gmbh, Horiba, Ltd., Altran, Fev Group, Mbtech Group Gmbh, Alten Gmbh, Kistler Instrumente AG, and Others. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

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Automotive Engineering Services Outsourcing Market, By Location
• On-shore
• Off-shore

Automotive Engineering Services Outsourcing Market, By Service
• Designing
• Prototyping
• System Integration
• Testing
• Others

Automotive Engineering Services Outsourcing Market, By Application
• Autonomous Driving/ADAS
• Body & chassis
• Powertrain and after-treatment
• Infotainment & Connectivity
• Others

Automotive Engineering Services Outsourcing Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
o Middle East & Africa
o Latin America

 

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