Market Insights:
Automotive Engineering Services Outsourcing (ESO) Market size was valued at USD 62.22 Billion in 2021, registering a CAGR of 20.7% during the forecast period (2022-2030), and the market is projected to be worth USD 338.29 Billion by 2030.
The automotive ESO industry has progressed from providing mechanical services to incorporating advanced technology solutions such as Artificial Intelligence (AI), the Internet of Things (IoT), and others. These services are required from the beginning of the product design and development process, as well as the use of a variety of IT-based tools and databases.
Automotive Engineering Services Outsourcing (ESO) Market Research Report” was just released by Market Research Community. It is divided into several categories, including Service (Designing, Prototyping, System Integration, Testing, Others), application (Autonomous Driving/ADAS, Body & Chassis, Powertrain and After-treatment, Infotainment & Connectivity, Others), Location (On-shore, Off-shore) and companies (AVL List GmbH; Bertrandt AG; EDAG Group; ESG Elektroniksystem- und Logistik-GmbH; FEV Group GmbH; Horiba, LTD.; IAV; ITK Engineering GmbH Kistler Group; P3 group GmbH; RLE International Group, AKKA; Altair Engineering Inc.; Alten Group; Altran (Capgemini Engineering); ARRK Product Development Group Ltd.; ASAP Holding Gmbh) According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 20.7%, over the forecast period of 2022–2030
Driver:
The increased adoption of Automotive Engineering Services Outsourcing (ESO) in the Next Generation industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Automotive Engineering Services Outsourcing (ESO) also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Automotive Engineering Services Outsourcing (ESO) in many sectors also boosts the market growth during the forecast period.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 338.29 Billion |
| CAGR (2022-2030) | 20.7% |
| By Service | Designing, Prototyping, System Integration, Testing, Others |
| By Application | Autonomous Driving/ADAS, Body & Chassis, Powertrain and After-treatment, Infotainment & Connectivity, Others |
| By Location | On-shore, Off-shore |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | AVL List GmbH; Bertrandt AG; EDAG Group; ESG Elektroniksystem- und Logistik-GmbH; FEV Group GmbH; Horiba, LTD.; IAV; ITK Engineering GmbH Kistler Group; P3 group GmbH; RLE International Group, AKKA; Altair Engineering Inc.; Alten Group; Altran (Capgemini Engineering); ARRK Product Development Group Ltd.; ASAP Holding Gmbh |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Automotive Engineering Services Outsourcing (ESO) market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
AVL List GmbH; Bertrandt AG; EDAG Group; ESG Elektroniksystem- und Logistik-GmbH; FEV Group GmbH; Horiba, LTD.; IAV; ITK Engineering GmbH Kistler Group; P3 group GmbH; RLE International Group, AKKA; Altair Engineering Inc.; Alten Group; Altran (Capgemini Engineering); ARRK Product Development Group Ltd.; ASAP Holding Gmbh
Market Segment Analysis:
By Application
- Autonomous Driving/ADAS
- Body & Chassis
- Powertrain and After-treatment
- Infotainment & Connectivity
- Others
By Location
- On-shore
- Off-shore
By Service
- Designing
- Prototyping
- System Integration
- Testing
- Others
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Automotive Engineering Services Outsourcing (ESO) industries in the region.
Key Automotive Engineering Services Outsourcing (ESO) Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Automotive Engineering Services Outsourcing (ESO) Market segments.
– Largest Market Share Held by Industry to Industry for Automotive Engineering Services Outsourcing (ESO)
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Automotive Engineering Services Outsourcing (ESO) Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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