Automotive Engineering Services Market Growth Probability, Leading Vendors and Future Scenario By 2024-2031

Automotive engineering services market is anticipated to grow at a significant CAGR of 13.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing interest in electric vehicles, increased emphasis on R&D in the automotive industry, and strict government laws designed to reduce vehicle emissions. According to the Alliance for Automotive Innovation (AAI), in November 2022, the combined automotive ecosystem drives more than $1.0 trillion into the US economy each year – 4.9% of GDP. More than $220.0 billion in federal and state revenue is generated annually by the manufacturing, sale, and maintenance of automobiles in the US.

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Autonomous vehicles help execute software and provide transit service without requiring human input. The vehicle is combined with a variety of sensors, actuators, a machine learning system, and sophisticated and potent algorithms. An autonomous car integrates a variety of services, including body electronics, electrical, ADAS, and artificial intelligence-based networking services. Therefore, the market expansion for automotive engineering services is anticipated to be fueled by the development and deployment of autonomous vehicles.

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  • Market Coverage
  • Market number available for – 2024-2031
  • Base year- 2024
  • Forecast period- 2024-2031
  • Segment Covered- By Source, By Product Type, By Applications
  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
  • , and others

Market Segmentation

Global Automotive Engineering Services Market by Vehicle Type

  • Passenger Cars
  • Commercial Vehicle

Global Automotive Engineering Services Market by Service

  • Concept/Research
  • Designing
  • Prototyping
  • System Integration
  • Testing

Global Automotive Engineering Services Market by Application

  • ADAS and safety
  • Electrical, electronics, and body controls
  • Chassis
  • Connectivity Services
  • Interior, exterior, and body engineering
  • Powertrain and exhaust
  • Simulation
  • Battery development and management
  • Charger Testing
  • Motor controls
  • Others (Wheel Assembly and Autonomous System)

Regional Analysis

  • North America
  • United States
  • Canada
  • Europe
  • UK
  • Germany
  • Italy
  • Spain
  • France
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • Rest of the World
  • Latin America
  • Middle East and Africa

Company Profiles 

  • Akkodis Group AG
  • Altair Engineering Inc.
  • AROBS TRANSILVANIA SOFTWARE SA
  • ASAP Holding GmbH
  • AVL List GmbH
  • Bertrandt AG
  • Ing. h.c. F. Porsche AG
  • EDAG Group
  • Embitel
  • ESG Elektroniksystem- und Logistik-GmbH
  • FEV Group GmbH
  • GX Group Ltd.
  • HARMAN International Industries, Inc.
  • HORIBA Ltd.
  • IAV GmbH
  • Promwad
  • Ricardo plc
  • RLE INTERNATIONAL Group
  • Tech Mahindra Ltd.
  • The Kistler Group

The Report Covers

  • Market value data analysis of 2023 and forecast to 2031.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the automotive engineering services market. Based on the availability of data, information related to new service deployment, and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market-entry and market expansion strategies.
  • Competitive strategies by identifying ‘who-stands-where’ in the market.

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