New York, July 24, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Automotive Engineering Services Market: Segmented: By Service Type, By Vehicle Type, By Application, And Region – Global Analysis of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031” – https://www.reportlinker.com/p06288787/?utm_source=GNW
Automotive engineering is an engineering discipline of vehicle engineering which works on the usage, design, and production of various automobiles. This branch of engineering entails the use of arithmetic in the development and manufacturing of automobiles. Safety engineering, automotive electronics, quality assurance, and fuel economy & emissions are some of the engineering disciplines that might be used in this industry. Brake systems, engines, safety mechanisms, fuel technologies, as well as transmission are among the automotive engineering services that are designed and tested. Growing competition in the car sector among original equipment manufacturers (OEMs) and an increased focus on upgrading critical competencies among auto OEMs are two important drivers driving the worldwide automotive engineering services market.
Global Automotive Engineering Services market is expected to project a notable CAGR of 10.6% in 2031.
The automotive engineering service industry is being driven by factors such as an automated vehicle, the introduction of 5G network technology in the automotive sector, original equipment manufacturers & government putting more emphasis on an electric vehicle, the use of technological advancements, concerns about the vehicle as well as passenger safety, & vehicle light-weighting.
GLOBAL AUTOMOTIVE ENGINEERING SERVICES: SEGMENTS
Connectivity services segment to grow with the highest CAGR during 2021-31
The market is divided into ADAS and safety, electrical, electronics, and body control, chassis, connectivity service, interiors, exterior, and body engineering, powertrain and exhaust, simulation, and others, based on application. The fastest-growing market is expected to be connection services during the forecast period. The advancement of autonomous car testing, advances in AI technology, and the arrival of 5G connections have all spurred the growth in demand for connected systems in automotive engineering services. Connectivity services help with automotive functions including smart entertainment, remote diagnostics, parking assistant features, diagnostic testing, and so on.
Prototyping segment to grow with the highest CAGR during 2021-31
The prototyping service segment is expected to hold the highest share of the entire automotive engineering services market, based on service type. The highly competitive nature of the automobile sector, which demands better performance requirements in areas such as fuel efficiency, aerodynamics, connection, and security, is credited for the segment’s growth. Shorter manufacturing timeframes and reduced production costs are achieved by prototype approaches, as are easier product innovation and supply chain transformation, as well as safer, cleaner, or lighter part designs.
Increasing demand for Electric vehicle sales
Rising autonomous vehicle development
Restriction on Intellectual Property (IP)
GLOBAL AUTOMOTIVE ENGINEERING SERVICES: KEY PLAYERS
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
• Valmet Automotive,
• HCL Technologies Limited,
• Tech Mahindra Limited,
• Onward Technologies Ltd.,
• T-NET JAPAN Co., Ltd.,
• EPAM Systems, Inc., NC.
• Other Prominent Players
GLOBAL AUTOMOTIVE ENGINEERING SERVICES REPORT ALSO CONTAINS ANALYSIS ON:
Automotive Engineering Services Segments:
• By Service Type
o System Integration
• By Vehicle Type
o Passenger cars
o Commercial vehicles
• By Application
o ADAS and Safety
o Electrical, Electronics, and Body Controls
o Connectivity Services
o Interior, Exterior, and Body Engineering
o Powertrain and Exhaust
• Automotive Engineering Services Dynamics
• Automotive Engineering Services Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.
Read the full report: https://www.reportlinker.com/p06288787/?utm_source=GNW
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