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The global automotive engineering services outsourcing market was valued at US$ 80.75 Billion in 2021.
We expect the global automotive engineering services outsourcing market to exhibit a CAGR of 17.60% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units for vehicles, thereby negatively impacting the global market for automotive engineering services outsourcing.
The rising deployment of automotive engineering services outsourcing for reducing overall labor costs, enhancing operational efficiency, and improving the production of the commercial, passenger, electric, and hybrid vehicles, is primarily driving the global automotive engineering services outsourcing market.
Based on the service, the global automotive engineering services outsourcing market has been segregated into designing, prototyping, system integration, testing, and others. Among these, prototyping currently holds the largest market share.
Based on the application, the global automotive engineering services outsourcing market can be bifurcated into autonomous driving/ADAS, body and chassis, powertrain and after-treatment, infotainment and connectivity, and others. Currently, powertrain and after-treatment exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global automotive engineering services outsourcing market include Altair Engineering Inc., ALTEN Group, ASAP Holding GmbH, AVL List GmbH, Bertrandt AG, Capgemini SE, EDAG Engineering Group AG, FEV Group GmbH, Horiba Ltd., IAV GmbH (Volkswagen AG), P3 group GmbH, and RLE INTERNATIONAL Group.
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