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Automotive Engineering Service Provider Market Overview:
The engineering service is playing an important role an automotive industry due to growing development in vehicles. To enhance vehicle efficiencies, safety, and performance engineering service providers such as Continental, Bosch, and others and automotive OEMs such as BMW, Audi and others are working together. The engineering services are useful for mechanical product development for the vehicle body, power train, chassis systems, as well as for various other subsystems such as roof, fuel, and gear shift. In addition, engineering solutions also cover manufacturing execution systems (MES), control systems integration, enterprise asset management, digital manufacturing, global sourcing lifecycle management, strategic sourcing, and supplier quality assurance services.
Automotive Engineering Service Provider Market Size to Expand at a Notable CAGR of 12% During 2019 – 2023.
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Key Players:
The prominent players in the global automotive Engineering Service Provider market include Continental AG (Germany), AVL LIST GmbH (Germany), Robert Bosch GmbH (Germany), Bertrandt (Germany), HARMAN International (USA), EDAG Engineering GmbH (Germany), IAV Automotive Engineering, Inc. (Germany), Magna International Inc (Canada), Imaginative Automotive Engineering Services (India), and Contechs (UK).
Automotive Engineering Service Provider Market Segmentation:
The global Automotive Engineering Service Provider Market is segmented on the basis of services, application, vehicle type, and region.
On the basis of services, the market has been segmented into engine, chassis, transmission, car and BIW, seating systems, cooling and HVAC, interior and exterior trims, and others.
On the basis of application, the market has been segmented into Mechanical, Electrical & Electronics, Software, and Safety.
On the basis of vehicle type, the market has been segmented into passenger car, commercial vehicle, and two-wheeler.
Growth Factors:
The major key driving factor for the growth of this market is growing demand for advanced safety, convenience, comfort systems and product management system in a vehicle. Furthermore, rise in demand for autonomous vehicle and in build comfort facilities are set to drive the global automotive engineering service provider market. The growing adoption of the intelligent engineering service provider in passenger vehicles will further boost the growth of this market.
The technological advancements in automotive engineering service provider device and improving economies from developing countries such as India, Brazil, and others are providing an opportunity for the expansion of this market in these regions.
Increased investments in new product development will enable strategic mergers and acquisitions of small startup companies in this market, which will further enhance the global market during the forecast period. However, the major restraints for the global automotive engineering service provider market is increasing cost due to growing complexity in the component design and integration process for advanced vehicles.
Regional Analysis:
Geographically, the global automotive engineering service provider market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is estimated to hold the largest market share during the forecast period owing to growing automotive infrastructure and increases in sales of electric vehicles across the region. Moreover, increased uses of advanced technologies such as IoT, AI, and others in vehicles is expected to boost the demand for automotive engineering service provider market in this region.
Scope of the Report:
This study provides an overview of the global Automotive Engineering Service Provider market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Automotive Engineering Service Provider market by service, application, vehicle type, and region.
Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria
2.7 Macro Factor Indicator Analysis
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
Continued…
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Contact Info:
Name: Vaibhav Hulsure
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Organization: Market Research Future
Website: https://www.marketresearchfuture.com/reports/automotive-engineering-service-provider-market-7496
Release ID: 505281
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