The Automotive Engineering Services Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Automotive Engineering Services Market?
The market size of the automotive engineering services escalated quickly in the last few years. It is projected to expand from $266.62 billion in 2024 to $294.7 billion in 2025, with a compound annual growth rate (CAGR) of 10.5%. The historical growth trend in the Automotive Engineering Services Global Market Report 2024 is rapid expansion.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Automotive Engineering Services Industry?
The Automotive Engineering Services Global Market Report 2024 predicts that by 2029, the market size will reach $439.65 billion, growing at a compound annual growth rate (CAGR) of 10.5%.
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What are the Key Growth Drivers Fueling the Automotive Engineering Services Market?
The key drivers in the automotive engineering services market are:
• Rise of electric and autonomous vehicles
• Accelerated adoption of connected car technologies
• Increased focus on sustainability and green engineering
• Integration of advanced driver-assistance systems (ADAS) and demand for personalized automotive experiences.
Global Market Segmentation: Identifying Major Automotive Engineering Services Industry Segments
The automotive engineering services market covered in this report is segmented –
1) By Vehicle Type: Passenger Cars, Commercial Vehicles
2) By Service Type: Concept Or Research, Designing, Prototyping, System Integration, Testing
3) By Location Type: On-Shore, Off-Shore
4) By Application: Electrical, Electronics and Body Controls, ADAS and Safety, Chassis, Connectivity Services, Powertrain and Exhaust, Interior, Exterior, and Body Engineering, Simulation
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What are the Emerging Trends Shaping the Future of the Automotive Engineering Services Market?
The key trends in the cloud mobile backend as a service (baas) market are:
• The rise of electric and autonomous vehicles is shaping the future of the market.
• Rapid adoption of connected car technologies is a significant trend.
• The industry is being influenced by the increasing focus on sustainability and green engineering.
• The use of artificial intelligence in design optimization and manufacturing is becoming a growing trend.
Who Are the Top Competitors & Leading Players in the Automotive Engineering Services Market?
Major companies in the automotive engineering services market are:
• Capgemini SE
• IAV GmbH
• Tech Mahindra Limited
• AKKA Technologies Group
• Bertrandt AG
• Harman International Industries Inc.
• ALTEN Cresttek Engineering Solutions Pvt Ltd.
• L&T Technology Services Ltd.
• Fev Europe GmbH
• AVL List GmbH
• Ricardo plc
• EDAG Engineering GmbH
• Valmet Automotive Oyj
• Onward Technologies Ltd.
• T-Net Japan Co. Ltd.
• Kistler Holding AG
• Continental AG
• Semcon Engineering UK Limited
• Robert Bosch GmbH
• Altran India Pvt. Ltd.
• Tata Technologies Ltd.
• Altair Engineering Inc.
• HORIBA Ltd
• MBtech Group GmbH
• P3 Automotive GmbH
• ASAP Holding GmbH
• Link Engineering Company
• Ansys Inc.
• EPAM Systems Inc.
• GlobalLogic
• Hunter Engineering Company
Regional Dominance: Which Area Leads the Global Automotive Engineering Services Market?
Asia-Pacific was the largest region in the automotive engineering services market in 2024
