DUBLIN–(BUSINESS WIRE)–The “Automotive Engineering Services Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global automotive engineering services outsourcing market reached a value of US$ 80.75 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 221.79 Billion by 2027, exhibiting a CAGR of 18.34% during 2021-2027. Companies Mentioned Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor. Automotive engineering services outsourcing refers to the process of hiring various non-physical engineering functions, such as design, prototyping, system integration, and testing, from an external source. They support a variety of capabilities, such as production, designing the parts of the vehicle, and safety testing. These services utilize various technological tools and mathematical models and are usually required at the early stages of the product design and development processes. Automotive engineering services outsourcing assists in reducing overall labor costs, increasing efficiency and flexibility, and reducing time. As a result, these services are widely employed in commercial, passenger, electric and hybrid vehicles (EVs/HVs). Significant growth in the automotive industry across the globe is creating a positive outlook for the market. Automotive engineering services outsourcing helps in enhancing the overall efficiencies of the production processes and assists in producing automobile parts, dealing with a company’s supply chain, and developing engineering aftermarket assistance. Moreover, the widespread utilization of engineering systems, such as computer-aided engineering (CAE) and computer-aided design (CAD) software that assists in advanced surfacing and handling aesthetic issues, are favoring the market growth. Apart from this, various advancements in technology, such as the integration of the Internet of Things (IoT), robotics and artificial intelligence (AI) solutions for improving modeling and detailing of products, are providing an impetus to the market growth. Additionally, the introduction of highly complex designs with the production of energy-efficient and environmentally sustainable vehicle is positively impacting the market growth. Other factors, including increasing automation and adoption of integrated solutions, extensive research and development (R&D) activities, and the implementation of various government initiatives supporting the development of EVs and HVs, are anticipated to drive the market toward growth. Key Questions Answered in This Report: Key Topics Covered: 1 Preface 2 Scope and Methodology 3 Executive Summary 4 Introduction 4.1 Overview 4.2 Key Industry Trends 5 Global Automotive Engineering Services Outsourcing Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast 6 Market Breakup by Service 7 Market Breakup by Vehicle Type 8 Market Breakup by Location Type 9 Market Breakup by Application 10 Market Breakup by Region 11 SWOT Analysis 12 Value Chain Analysis 13 Porters Five Forces Analysis 14 Price Analysis 15 Competitive Landscape 15.1 Market Structure 15.2 Key Players 15.3 Profiles of Key Players For more information about this report visit https://www.researchandmarkets.com/r/2ntowu ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900