Automotive Engineering Services Market worth $253.9 billion by 2027
                     MarketsandMarkets 
Presents
Automotive Engineering Services 
Market worth $253.9 billion by 2027
https://www.marketsandmarkets.com/Market-Reports/automotive-en
gineering-service-market-151284922.html
 
The report "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", 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. 
The growth of the automotive engineering services market is driven by the rising sales of electric 
vehicles, increasing R&D investments in the automotive industry, the advent of autonomous 
vehicles, and the high implementation of connectivity services.
Browse 140 market data Tables and 70 Figures spread through 271 Pages 
and in-depth TOC on "Automotive Engineering Services Market”
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).
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84922
 
Europe is expected to be the largest automotive engineering 
services market in the forecast
Europe is estimated to account for a share of 43.0% of the global automotive 
engineering services market in 2021, and the market in this region is 
projected to register a CAGR of 8.9% during the forecast period.
For the market analysis, Europe includes Germany, France, Spain, the UK, 
Italy, Russia, and the Rest of Europe. The presence of OEMs such as VDL 
Groep (Netherlands) and AB Volvo (Sweden) offers growth opportunities for 
the automotive engineering services market in the region. European 
automotive enterprises dominate the global landscape, accounting for almost 
50% of the R&D spending led by firms such as BMW, Continental, and 
Daimler. The increasingly stringent regulations related to environmental 
issues are encouraging market players to test and develop advanced 
vehicles, further boosting the market for automotive engineering services. 
For example, in March 2017, L&T Technology Services unveiled a new 
delivery center for a German OEM in Munich. The center would cater to 
engineering and R&D services for the company’s suite of infotainment 
consoles and its family of hybrid electric vehicles. 
Electrical, electronics, and body controls is expected to lead the automotive engineering 
services market
Automotive electrical, electronics, and body controls have a high value-added proportion in 
vehicle development.  Electronics and electrical systems play a crucial role in handling all 
functions dedicated to passenger comfort and convenience. Services in automotive electrical 
and electronics include power management module, climate control, power window, body 
control module, and smart mirror and wipers. The trend is expected to grow due to the adoption 
of electric vehicles and complex electronic components for a safer and functional driving 
experience. Service providers such as L&T Technology Services and FEV have invested huge 
resources to develop electrical, electronics, and body control solutions in automotive 
engineering services.
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1284922
 
Designing segment is expected to be the fastest service type in the forecast
The design process is used in the final sketching of the product. The 2D rendering process is 
crucial to visualize whether the design is feasible or not. Once the design seems practical and 
feasible, computer-aided design (CAD) is used to make a 3D model. Clay modeling then helps 
achieve a physical model of the design. 
The designing of the car can either be done by the internal team of automotive manufacturers 
or the manufacturer can outsource it.
Connectivity services segment is expected to be the fastest-growing market during the 
forecast period
The connectivity services segment is expected to be the fastest-growing market during the 
forecast period. The expansion of autonomous vehicle testing, advancements in artificial 
intelligence, and the introduction of 5G connectivity have increased the demand for connected 
services in automotive engineering services. Connectivity services help in controlling vehicle 
activities such as smart infotainment, vehicle diagnostics, parking assistance features, 
diagnostics, and others. OEMs are offering connectivity services in their vehicles. For instance, in 
July 2018, Audi entered into a partnership with Huawei, the largest telecommunications 
equipment and smartphone maker in China, for introducing connectivity features in upcoming 
vehicles. The Renault-Nissan-Mitsubishi Alliance plans to launch new vehicles with Alliance 
Connected Cloud in China by 2022. All these enhancements would accentuate the need for new 
sensors and use cases of IoT devices in the coming years. Thus, the automotive industry would 
witness increasing demand for engineering service providers, specialized in connectivity 
services.
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