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3. Automotive Engineering Services Companies - Capgemini (France), Tech Mahindra (India) and AKKA Technologies (Belgium) are the leading players

The global automotive engineering services market is projected to grow from an estimated USD 153.2 billion in 2022 to USD 243.9 billion by 2028, registering a CAGR of 8.1%. Leading automotive engineering services (AES) providers have set up their R&D infrastructure across the world to provide AES such as concept/research, designing, prototyping, system integration, testing, among others to OEMs and component manufactures. Factors like rising demand for zero-emission vehicles and strong government support have led to an increased demand of AES among automakers. Europe is expected to be impacted by ongoing geo-political problems in the region along with the upcoming recession. This will lead to a change in R&D investment plans of OEMs and AES providers.

The automotive engineering services market is highly competitive.

Major Automotive Engineering Services Market Companies include

• Capgemini (France),
• IAV Automotive Engineering (Germany),
• Tech Mahindra (India),
• AKKA Technologies (Belgium), 
• HCL Technologies (India)

The rising demand for electric vehicles is expected to drive the automotive engineering services market in these regions. Electric vehicles require new drivelines, battery technology, chassis systems, and vehicle connectivity services. R&D for these services require high investments by OEMs and AES providers. Outsourcing has become popular over the years, with the need for constant technology upgrades by OEMs leading to the outsourcing of work to automotive engineering service (AES) providers. Government initiatives for emission reduction (in ICE vehicles) will also increase the demand for advanced automotive engineering services due to the changing emission norms every few years.

To know about the assumptions considered for the study download the pdf brochure

Capgemini (France):

Capgemini is a leading firm providing consulting, technology services, and digital transformation services. The company provides application services, technology and engineering services, consulting services, and other services. It provides services to industries such as automotive, consumer products, media & entertainment, telecom, and health care & life sciences. The company offers services such as embedded product engineering, mechanical design and simulation, systems engineering, digital technical content management, product lifecycle management, and product integrity and compliance solutions to automotive OEMs. In April 2021, Capgemini launched its new Capgemini Engineering brand that will bring the company’s engineering and R&D groups together with the integration of Altran. This will help provide engineering services for various industries including the automotive industry. The brand will offer technology-driven solutions that combine services, software, and industry expertise for handling engineering and business challenges which occur through product development lifecycles across industry verticals.

AKKA Technologies (Belgium):

AKKA Technologies is a subsidiary of AKKA Group, an engineering and technology consulting group founded in 1984. The company offers engineering solutions to industries like automotive, aeronautics, railway, energy, space, and oil & gas. Under its automotive segment, it provides powertrain design and validation, transmission development and powertrain integration, chassis and braking systems, infotainment systems, car interior design, and car exterior design. In May 2022, Adecco Group announced the acquisition of AKKA Technologies. With this acquisition, the company will gain access to AKKA’s technology as well as improve its offerings with increased symmetries. In March 2021, AKKA Technologies and On Device Solutions, a SAP services provider, formed a partnership to provide customers access to mobility solutions such as fleet management, digitalization, warehouse management, and automotive safety systems.

Tech Mahindra (India):

Tech Mahindra is one of the global leaders in providing IT solutions, digital transformation, and business process. The company provides connected engineering solutions to global OEMs and component manufacturers. Tech Mahindra serves automotive OEMs by providing design and styling, development, validation, testing, and system integration. It also provides engineering services that include virtual modeling, virtual aerodynamics studies, electrical routing and wiring diagrams, rigidity and stability analysis, product benchmarking, modeling and simulation, and safety design. The company has presence in countries like Australia, New Zealand, Brazil, Finland, France, Germany, the US, the UK, Japan, and India. In September 2022, Tech Mahindra launched YANTRA.AI, a cognitive AI solution, to strengthen the company’s automotive solution portfolio and provide insights to enterprise partners for better planning and execution of their field services. Later in October 2022, Tech Mahindra partnered with Foxconn led Mobility in Harmony (MIH) Consortium for offering sustainable automotive engineering solutions for EVs. The partnership will focus on leveraging the R&D strengths of various participants and developing reference designs with standards to bridge the gap for alliance members, accelerate innovation, and reduce development cycles.

Related Reports:

Automotive Engineering Services Market by Application, Service Type, Location (In-house, Outsource), Vehicle Type (Passenger Cars, Commercial Vehicles), Nature Type (Body Leasing, Turnkey), Propulsion (ICE, Electric) and Region - Global Forecast to 2028

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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