The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The automotive engineering services market has undergone rapid growth in recent years, driven by various factors such as the globalization of the automotive industry, technological advancements, and the rising demand for sustainable transportation solutions.

Rising Demand For Emission-Less Transportation Propels Growth Of Automotive Engineering Services Market

• Increased demand for emission-less transportation fuels market growth.
• Electric vehicle sales doubled to 6.6 million in 2021 from 3 million in 2020.
• Companies such as Capgemini SE, Tech Mahindra Limited, and Bertrandt AG are key players in this sector, offering innovative engineering solutions.

AI In Automotive Engineering Services

• Artificial intelligence (AI) plays a pivotal role in automotive engineering services.
• AI algorithms optimize energy conservation in electric vehicles, extending driving range.
• Ford’s collaboration with Google highlights AI’s significance in enhancing customer experiences and modernizing product development.

HCL Technologies Acquires Asap Group To Expand Presence In Automotive Space

• In September 2023, HCL Technologies acquired ASAP Group for $266.49 million.
• The acquisition enables HCL Technologies to strengthen its presence in the automotive sector and expand into key markets like Germany, the Americas, and Japan.
• ASAP Group, a US-based automotive engineering services provider, adds value to HCL Technologies’ portfolio.

Segmentation of the Automotive Engineering Services Market

The automotive engineering services market is segmented based on several parameters:

1. Vehicle Type: Includes Passenger Cars and Commercial Vehicles.
2. Service Type: Encompasses Concept/Research, Designing, Prototyping, System Integration, and Testing.
3. Location Type: Involves On-Shore and Off-Shore services.
4. Application: Includes Electrical, Electronics and Body Controls, ADAS and Safety, Chassis, Connectivity Services, Powertrain and Exhaust, Interior, Exterior, and Body Engineering, and Simulation.

Regional Insights

• Asia-Pacific emerged as the largest region in the automotive engineering services market in 2023.
• The region’s dominance underscores its significance as a hub for automotive innovation and manufacturing.

Future Outlook and Trends

• The automotive engineering services market is poised for significant growth, with projections reaching $396.45 billion by 2028.
• Factors driving growth include the rise of electric and autonomous vehicles, the integration of connected car technologies, and the emphasis on sustainability.
• Major trends include the use of advanced technology, the embrace of digital twin technology for simulation and testing, and the growing importance of cybersecurity in automotive engineering.

View More On The Automotive Engineering Services Market Report 2024 – https://www.thebusinessresearchcompany.com/report/automotive-engineering-services-global-market-report

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The Automotive Engineering Services Global Market Report 2024  provides comprehensive insights on the automotive engineering services market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the automotive engineering services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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