Automotive Industry Consulting Services Market Size - By Service (Operations & Strategy, Mergers & Acquisitions, Supply Chain Strategy, ESG, Technology, Customer Strategy), By Enterprise Size (Large Enterprise, SMEs), By End User & Forecast, 2024 - 2032
Automotive industry consulting services market size is anticipated to witness over 5% CAGR between 2024 and 2032 driven by the rapid transformation within the automotive sector due to technological advancements and evolving consumer expectations. The rise of electric vehicles (EVs), autonomous driving technologies, and connected car innovations is compelling automotive companies to adapt their strategies and operations. According to the IEA, the global electric car sales nearly hit 14 million in 2023, marking a 35% increase from 2022.
The ongoing shift towards sustainability and digitalization within the automotive industry is also fueling the market growth. The focus on reducing carbon footprints and improving energy efficiency is necessitating specialized expertise in implementing green technologies and sustainable practices. The emphasis on digital transformation, including the adoption of Industry 4.0 practices and data analytics will also drive the market growth.
The overall industry is classified into service, enterprise size, end user, and region.
Based on service, the automotive industry consulting services market size from the mergers & acquisitions segment is slated to witness significant growth during 2024-2032 due to the strategic need for expertise in navigating complex consolidation activities and market integration. As automotive companies pursue mergers & acquisitions (M&A) to expand their technological capabilities, enter new markets, and achieve operational efficiencies, they require specialized consulting services to conduct due diligence, assess valuation, and manage integration processes.
In terms of end user, the automotive industry consulting services market from the automotive manufacturers segment will foresee considerable growth up to 2032. This is owing to the need for specialized support in navigating the rapid technological advancements and shifting market dynamics. As manufacturers face challenges related to the integration of electric and autonomous vehicle technologies, adaptation to stringent regulatory requirements, and the optimization of global supply chains, they are increasingly relying on consulting services for expert guidance.
North America automotive industry consulting services industry is anticipated to witness substantial growth through 2032 attributed to leadership in automotive innovation and the dynamic regulatory environment. The advancements in EVs, autonomous driving, and connected car technologies, are creating a demand for consulting services to provide expertise in integrating cutting-edge technologies into existing manufacturing processes and business models.
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates & calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Software providers
3.2.2 Services provider
3.2.3 Technology providers
3.2.4 End user
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing cyber security incidents
3.8.1.2 Stringent regulatory compliance for strict data protection
3.8.1.3 Growing adoption of digital platforms
3.8.1.4 Increasing brand reputation concerns
3.8.1.5 Growing adoption of artificial intelligence and machine learning