Automotive Engineering Services Market

Market Leaders - Automotive Engineering Services Market

The global automotive engineering services market is projected to grow at a CAGR of 8.8% from USD  153.3 billion in 2021 to USD  253.9 billion by 2027. High demand for electric passenger and commercial vehicles as well as increasing R&D investments in autonomous vehicles will be driving the growth of the automotive engineering services market.

Automotive engineering services deal with the design and development of automotive components and related technologies to address complex technical challenges in the vehicle development value chain. The engineering service process starts with conceptualization, designing, prototyping, system integration, and testing. Automotive engineering services include vehicle connectivity services, ADAS (advanced driver-assistance systems) and safety systems, interior & exterior design and body engineering services, passenger comfort, and others. These services assess different areas in a vehicle and provide data to check on a vehicle’s development and validation.

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The advent of electric vehicles and connected vehicles has shifted the focus of automotive OEMs from mechanical components in a vehicle to electronic components and connectivity features. Advanced connectivity features have led to several innovations and trends. With continuous developments in connectivity, infotainment, and advanced driver assistance systems, automotive suppliers are now focusing on electronics and software in automobiles. The growing complexity and intricate automotive system involving various platforms, multiple suppliers, and numerous transfer protocols have accentuated the need to develop, test, and support multiple communication technologies. This, in turn, has raised the demand for automotive engineering services.

The automotive engineering services market is dominated by global players such as Capgemini (France), IAV Automotive Engineering (Germany), Tech Mahindra (India), AKKA Technologies (Belgium), and Bertrandt AG (Germany). The key strategies adopted by these companies to sustain their market position are new product developments, mergers & acquisitions, supply contracts, partnerships, expansions, collaborations, acquisitions, and contracts & agreements.

Capgemini: Capgemini has recognized its growth potential in engineering services, and thus, it acquired Altran Technologies for USD 4.1 billion in 2020. The acquisition is expected to strengthen Capgemini’s leading position with capabilities across research and development strategy, digital design, product engineering, manufacturing services, and software development and integration.

The company has also entered into a joint venture with Audi to provide consulting services for SAP S4/Hana ERP software. Capgemini became the supplier of Mercedes Benz Research and Development India (MBRDI) to provide application development and maintenance services. Capgemini collaborated with Groupe PSA to create the Citroën AMI, a light electric vehicle. The company has entered into various such product development/supplying/service providing agreements recently. The company also launched a separate business line known as Capgemini Invent. It combines the multi-disciplinary strengths of Capgemini Consulting and key expertise in technology and data science. Such deals will help the company gather more opportunities in the future.

IAV Automotive Engineering: The company offers state-of-the-art combustion engines to electric and hybrid powertrains, optimized transmissions, and other products for every facet of vehicle development and automotive electronics. At CES 2019, the company demonstrated a new side window technology that shows outside information and allows the passenger to interact with the shown objects.

Tech Mahindra: The company has emerged as a tough competitor in the automotive engineering services market. The company offers connected engineering solutions, high-end automotive design and styling, development, validation, testing, and system integration to global automotive players.

Related Reports:

Automotive Engineering Services Market by Application (ADAS & Safety, Body Electrical & Electronics, Chassis, Connectivity, Interior/Exterior, Powertrain & Exhaust, Battery, Motor, Charger Test, Simulation), Service, Location & Vehicle - Forecast to 2027

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Report Code
AT 7228
RI Published ON
4/13/2021
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