Global Automotive Engineering Service Providers (ESP) Market 2024-2028
The automotive engineering service providers (ESP) market is forecasted to grow by USD 8.68 bn during 2023-2028, accelerating at a CAGR of 8.2% during the forecast period. The report on the automotive engineering service providers (ESP) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing digitization and electrification of automobiles, rising demand for advanced vehicle connectivity solutions, and development of alternative powertrain technology.
Technavio's automotive engineering service providers (ESP) market is segmented as below:
By Application
By Product Type
- Powertrain
- Complete vehicle
- Electrical/electronics
- Others
By Geographical Landscape
- Europe
- APAC
- North America
- South America
- Middle East and Africa
This study identifies the development of autonomous vehicles as one of the prime reasons driving the automotive engineering service providers (ESP) market growth during the next few years. Also, fully integrated engineering data process chain for additive manufacturing and Industry 4.0 gaining traction in automotive industry will lead to sizable demand in the market.
The report on the automotive engineering service providers (ESP) market covers the following areas:
- Automotive engineering service providers (ESP) market sizing
- Automotive engineering service providers (ESP) market forecast
- Automotive engineering service providers (ESP) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive engineering service providers (ESP) market vendors that include Adecco Group AG, Altair Engineering Inc., ASM Technologies Ltd., AVL List GmbH, Belcan LLC, Bertrandt AG, Capgemini Service SAS, EDAG Group, EPAM Systems Inc., FEV Group GmbH, HCL Technologies Ltd., Hitachi Ltd., IAV GmbH, KPIT Technologies Ltd., Magna International Inc., Mahindra and Mahindra Ltd., Onward Technologies Ltd., Ricardo Plc, Contechs Group Holdings Ltd., and L and T Technology Services Ltd.. Also, the automotive engineering service providers (ESP) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.