Automotive Engineering Services Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Engineering Services Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global automotive engineering services outsourcing market size reached US$ 96.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 257.9 Billion by 2028, exhibiting a growth rate (CAGR) of 17.1% during 2023-2028.

Automotive engineering services outsourcing refers to the process of hiring various non-physical engineering functions, such as design, prototyping, system integration, and testing, from an external source. They support a variety of capabilities, such as production, designing the parts of the vehicle, and safety testing. These services utilize various technological tools and mathematical models and are usually required at the early stages of the product design and development processes. Automotive engineering services outsourcing assists in reducing overall labor costs, increasing efficiency and flexibility, and reducing time. As a result, these services are widely employed in commercial, passenger, electric and hybrid vehicles (EVs/HVs).

Automotive Engineering Services Outsourcing Market Trends:

Significant growth in the automotive industry across the globe is creating a positive outlook for the market. Automotive engineering services outsourcing helps in enhancing the overall efficiencies of the production processes and assists in producing automobile parts, dealing with a company's supply chain, and developing engineering aftermarket assistance. Moreover, the widespread utilization of engineering systems, such as computer-aided engineering (CAE) and computer-aided design (CAD) software that assists in advanced surfacing and handling aesthetic issues, are favoring the market growth. Apart from this, various advancements in technology, such as the integration of the Internet of Things (IoT), robotics and artificial intelligence (AI) solutions for improving modeling and detailing of products, are providing an impetus to the market growth. Additionally, the introduction of highly complex designs with the production of energy-efficient and environmentally sustainable vehicle is positively impacting the market growth. Other factors, including increasing automation and adoption of integrated solutions, extensive research and development (R&D) activities, and the implementation of various government initiatives supporting the development of EVs and HVs, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive engineering services outsourcing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service, vehicle type, location type and application.

Breakup by Service:

Designing
Prototyping
System Integration
Testing
Others

Breakup by Vehicle Type:

Passenger Vehicles
Commercial Vehicles

Breakup by Location Type:

On-shore
Off-shore

Breakup by Application:

Autonomous Driving/ADAS
Body and Chassis
Powertrain and After-treatment
Infotainment and Connectivity
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Altair Engineering Inc., ALTEN Group, ASAP Holding GmbH, AVL List GmbH, Bertrandt AG, Capgemini SE, EDAG Engineering Group AG, FEV Group GmbH, Horiba Ltd., IAV GmbH (Volkswagen AG), P3 group GmbH and RLE INTERNATIONAL Group.

Key Questions Answered in This Report:

What was the size of the global automotive engineering services outsourcing market in 2022?

What is the expected growth rate of the global automotive engineering services outsourcing market during 2023-2028?

What has been the impact of COVID-19 on the global automotive engineering services outsourcing market?

What are the key factors driving the global automotive engineering services outsourcing market?

What is the breakup of the global automotive engineering services outsourcing market based on the service?

What is the breakup of the global automotive engineering services outsourcing market based on the application?

What are the key regions in the global automotive engineering services outsourcing market?

Who are the key players/companies in the global automotive engineering services outsourcing market?