Automotive Engineering Service Provider Market – Industry Analysis, Size, Share, Growth, Trends and Forecast – 2023

18/set/2020 07:38:46 Automotive Market Research Reports Contatta l'autore

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Engineering service providers in the automotive industry find different types of applications such as mechanical, electronics, electrical, software, and others. Increasing applications is likely to fuel demand for services across the industry over the next couple of years. In a report presented by Market Research Future (MRFR), the global automotive engineering service provider market is expected to strike a steady CAGR across the evaluation period 2018 to 2023.

These services facilitate the reduction of product development cost and time for the OEMs and their suppliers by digitizing product value chain. This, in turn, is prognosticated to boost the growth pattern of the automotive engineering service provider market in the years to come. Some of the solutions provided by engineering service providers are vehicle engineering, product lifecycle management (PLM), vehicle electronics, etc. This study ensures that the future trajectory of the market is set to remain lucrative over the next few years.

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https://www.marketwatch.com/press-release/automotive-engineering-service-provider-market-2020-size-merger-acquisition-leading-company-regional-analysis-growth-factors-and-industry-forecast-to-2023-2020-07-08

The flourishing automotive infrastructure on the global front, especially in developing economies, is anticipated to unleash a plethora of developmental opportunities for the market players. In addition, the growing popularity of autonomous and semi-autonomous vehicles is projected to provide impetus to market growth in the years to come. On the other hand, the complexity in design, in conjunction with lack of standard protocols for the development of the service provider, is anticipated to check the expansion of the automotive engineering service provider market in the forthcoming years.

Market Segmentation:

On the basis of services, the global automotive engineering service provider market has been segmented into engine, transmission, chassis, car, and BIW, cooling and HVAC, interior and exterior trims, seating systems, and others.

Based on application, the automotive engineering service provider market has been segmented into mechanical, software, electrical & electronics, and safety.

On the basis of vehicle type, the global automotive engineering service provider market has been segmented into commercial vehicle, passenger car, and two-wheeler.

Regional Analysis:

The geographical analysis of the global automotive engineering service provider market is covered on regional and country-level basis in this study. Key regional segments assessed in this report are North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). Asia Pacific is expected to lead the market and retain its pole position through the assessment period. The growing automotive infrastructure of the region is likely to favor market growth in the region over the next couple of years. In addition, the rising demand for electric cars in the region is prognosticated to boost the growth rate of the automotive engineering service provider market in the years to come. The governments in the region are subsidizing the use of electric vehicles to reduce carbon footprints. This, in turn, is expected to catalyze growth of the regional market over the review period.

Competitive Dashboard:

Continental AG (Germany), Robert Bosch GmbH (Germany), AVL LIST GmbH (Germany), Bertrandt (Germany), EDAG Engineering GmbH (Germany), HARMAN International (USA), IAV Automotive Engineering, Inc. (Germany), Imaginative Automotive Engineering Services (India), Magna International Inc (Canada), and Contechs (UK) are the few players of the global automotive engineering service provider market assessed in this MRFR report. These players are anticipated to play a significant role in the development of the market over the next couple of years. Increasing focus on product innovation and diversification is poised to intensify competition in the market in the years to come. New product launches can be expected by key participants for gaining edge over competitors. To illustrate, a large multinational engineering and electronics company, Bosch Engineering, has announced the introduction of its latest acoustics test center. Other growth strategies to be opted by market participants are mergers & acquisition, technological developments, collaborations, partnerships, etc.

FOR MORE DETAILS –

https://www.marketresearchfuture.com/reports/automotive-engineering-service-provider-market-7496

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