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Automotive Engineering Service Providers (ESP) Market by Service, Location, and Geography - Forecast and Analysis 2023-2027

  • Published: Jan 2023
  • Pages: 177
  • SKU: IRTNTR40095
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The automotive engineering service providers market is estimated to grow at a CAGR of 8.2% between 2022 and 2027. The size of the market is forecast to increase by USD 8,381.88 million. The growth of the market depends on several factors, including the increasing vehicle digitization and electrification, the rising demand for vehicle connectivity solutions, and the development of alternative power trains. 

This report extensively covers market segmentation by service (powertrain, complete vehicle, electrical/electronics, and others) and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021. 

What will be the size of the Automotive Engineering Service Providers (ESP) Market During the Forecast Period?

Automotive Engineering Service Providers (ESP) Market Size

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Parent Market Analysis

Technavio categorizes the global automotive engineering service providers market as a part of the global research and consulting services market within the global professional services market. The parent market, the global research and consulting services market covers services and companies engaged in research and consulting services, including business management, accounting, engineering, legal, and sales and marketing services for a wide range of industries. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Automotive Engineering Service Providers (ESP) Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increasing vehicle digitization and electrification are notably driving the automotive ESP market growth, although factors such as the increasing cost pressure on OEMs may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The increasing vehicle digitization and electrification are key factors driving the global automotive engineering service providers (ESP) market growth. The global automotive industry is evolving along with the emergence of new technologies and the development of new vehicles. In the last decade, electronic systems have replaced mechanical components in modern automobiles to a considerable extent. This is attributed to the ever-growing need for more information to the driver, reduced fuel consumption, lower emissions, increased safety, driver assistance, and an easy and pleasant driving experience.

Automotive OEMs are planning their future product developments to meet these ongoing trends. The growing focus of automotive OEMs on ADAS, such as lane assist systems, blind spot detection, adaptive cruise control, electronic stability control, speed assist system, and park assist system, will also increase the volume of electronic components in vehicles and lead to the architectural redesigning of vehicles.

Key Market Trend

The development of autonomous vehicles will fuel the global automotive engineering service providers (ESP) market growth. The automotive industry is witnessing a structural shift in terms of the demand behavior of consumers. The perception of car users toward car ownership is changing. People are shifting to cab services, carpooling, and car rentals due to the rising traffic congestion in urban areas. To adapt to the behavioral changes of consumers, OEMs are focusing on advanced technologies that can be used in driverless and autonomous vehicles.

The autonomous vehicle concept is still at a nascent stage, and its commercialization will take many years. Industry experts expect this concept to revolutionize the automotive industry. Major vehicle manufacturers, Tier-1 suppliers, and ESPs are launching projects to commercialize autonomous vehicles. Audi, Daimler, Ford, Continental, Bosch, and Aptiv dominate this space. Such factors will increase the market growth during the forecast period.

Key Market Challenge

The Increasing cost pressure on OEMs is a major challenge to the global automotive engineering service providers (ESP) market growth. In the automotive industry value chain, automotive OEMs are liable for most of the warranty costs and pricing pressure from the demand side. With the increasing incorporation of new and advanced technologies in vehicles, the bargaining power of OEMs has declined with respect to certain types of equipment, technologies, and services.

Automotive OEMs are subject to heavy cost pressures due to the dynamic nature of both the regulatory environment and the demands of consumers. A detailed view of this situation shows that OEMs' profitability has been taking a hit while catering to the demands of price-sensitive consumers without pushing too much of the liability and risk to other stakeholders in the value chain, including Tier-1 suppliers, component manufacturers, and engineering service providers. Hence, such factors threaten the growth of the market during the forecast period.

Key Automotive Engineering Service Providers (ESP) Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Automotive Engineering Service Providers (ESP) Market Share by Geography

Global Automotive Engineering Service Providers (ESP) Market Customer Landscape

Who are the Major Automotive Engineering Service Providers (ESP) Market Vendors?                   

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market 

bertrandt.com - The company offers automotive engineering services such as powertrain engineering, advanced simulation technologies, and instrumentation and test systems. Also, under this segment, the company acts as a solution partner for technological trends. In the automotive sector, the company focuses on four divisions, namely Electronics, Product Engineering, Physical Production, and After Sales.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • AKKA Technologies SE
  • Altair Engineering Inc.
  • AVL List GmbH
  • Capgemini Service SAS
  • EDAG Group
  • EPAM Systems Inc.
  • FEV Group GmbH
  • HCL Technologies Ltd.
  • Hitachi Ltd.
  • IAV GmbH
  • KPIT Technologies Ltd.
  • L&T Technology Services Ltd.
  • Mahindra & Mahindra Ltd.
  • Onward Technologies Ltd.
  • Ricardo Plc

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. 

What is the Fastest-Growing Segment in the Automotive Engineering Service Providers (ESP) Market?

The market share growth by the powertrain segment will be significant during the forecast period. OEMs are working toward the development of lightweight engines, which can reduce the overall weight of the vehicle. This will have a positive impact on engine efficiency, resulting in better performance and reduced fuel consumption. Fuel consumption is an important parameter for both OEMs and consumers. The strengthening of fuel economy standards across the globe is, therefore, driving the market segment.

Automotive Engineering Service Providers (ESP) Market Size

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The powertrain segment was valued at USD 4,701.48 million in 2017 and continued to grow until 2021. The increasing need for rigorous testing and validation methodologies for automobile engines and their components due to increasingly stringent emission standards will drive the global automotive ESP market in the powertrain segment. 

Which are the Key Regions for Automotive Engineering Service Providers (ESP) Market?

Automotive Engineering Service Providers (ESP) Market Share by Geography

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Europe is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The automotive ESP market in Europe is well-developed due to the presence of leading global automakers, such as Mercedes-Benz AG (Mercedes-Benz), Volkswagen AG (Volkswagen), BMW AG (BMW), and AB Volvo (Volvo), which are pioneers in the automotive industry for the introduction of advanced technologies. Most key market players, such as AVL List GmbH (AVL List), EDAG Group (EDAG), IAV GmbH, and Bertrandt AG (Bertandt), have their automotive R&D centers in Europe. Countries such as France, Germany, Spain, and the UK will be the major contributors to the market in Europe, owing to the many high-end luxury and premium vehicles that are manufactured and marketed in these countries. The development of autonomous vehicles and the increasing focus on connected cars in this region are spurring ESP vendors to design and develop engineering solutions.

OEMs are investing extensively in R&D for electromobility (e-mobility). Most of the ESP vendors in Europe provide end-to-end engineering solutions in the field of vehicle engineering and product solutions. The automotive industry in Europe is witnessing changes in technology in the electrical and electronics field. Hence, the business prospects for ESP vendors will improve in Europe during the forecast period.

The COVID-19 pandemic led to a decline in demand for the market in Europe. However, the focus of governments on reviving industrial growth is expected to give impetus to the sales and production of vehicles in Europe from 2022 onwards. These factors will fuel the demand for automotive ESPs, which, in turn, will drive the growth of the regional market during the forecast period.

Segment Overview

Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Service Outlook (USD Million, 2017 - 2027)
    • Powertrain
    • Complete vehicle
    • Electrical/electronics
    • Others 
  • Location Outlook (USD Million, 2017 - 2027)
    • In-house
    • Outsource
  • Region Outlook (USD Million, 2017 - 2027)
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • North America
      • The U.S.
      • Canada
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Automotive Engineering Service Providers (ESP) Market Scope

Report Coverage

Details

Page number

177

Base year

2022

Historical year

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.2%

Market growth 2023-2027

USD 8,381.88 million

Market structure

Fragmented

YoY growth (%)

7.38

Regional analysis

Europe, APAC, North America, South America, and the Middle East and Africa

Performing market contribution

Europe at 30%

Key consumer countries

US, China, Germany, France, and UK

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

AKKA Technologies SE, Altair Engineering Inc., AVL List GmbH, Bertrandt AG, Capgemini Service SAS, EDAG Group, EPAM Systems Inc., FEV Group GmbH, HCL Technologies Ltd., Hitachi Ltd., IAV GmbH, KPIT Technologies Ltd., L&T Technology Services Ltd., Mahindra & Mahindra Ltd., Onward Technologies Ltd., Ricardo Plc, ASM Technologies Ltd., Belcan LLC, Contechs Holdings Ltd., and Magna International Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Automotive Engineering Service Providers (ESP) Market Report?

  • CAGR of the market during the forecast period 
  • Detailed information on factors that will drive the growth of the automotive engineering service providers (ESP) market between 2023 and 2027
  • Precise estimation of the automotive engineering service providers (ESP) market size and its contribution to the parent market.
  • Accurate predictions about  upcoming trends and changes in consumer behavior
  • Growth of the industry across Europe, APAC, North America, South America, and the Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive details of factors that will challenge the growth of automotive engineering service providers (ESP) market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Location
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global automotive engineering service providers (ESP) market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global automotive engineering service providers (ESP) market 2017 - 2021 ($ million)
    • 4.2 Service Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Service Segment 2017 - 2021 ($ million)
    • 4.3 Location Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Location Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Service

    • 6.1 Market segments
      • Exhibit 30: Chart on Service - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Service - Market share 2022-2027 (%)
    • 6.2 Comparison by Service
      • Exhibit 32: Chart on Comparison by Service
      • Exhibit 33: Data Table on Comparison by Service
    • 6.3 Powertrain - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Powertrain - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Powertrain - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Powertrain - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Powertrain - Year-over-year growth 2022-2027 (%)
    • 6.4 Complete vehicle - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Complete vehicle - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Complete vehicle - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Complete vehicle - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Complete vehicle - Year-over-year growth 2022-2027 (%)
    • 6.5 Electrical/electronics - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Electrical/electronics - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Electrical/electronics - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Electrical/electronics - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Electrical/electronics - Year-over-year growth 2022-2027 (%)
    • 6.6 Others - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.7 Market opportunity by Service
      • Exhibit 50: Market opportunity by Service ($ million)

    7 Market Segmentation by Location

    • 7.1 Market segments
      • Exhibit 51: Chart on Location - Market share 2022-2027 (%)
      • Exhibit 52: Data Table on Location - Market share 2022-2027 (%)
    • 7.2 Comparison by Location
      • Exhibit 53: Chart on Comparison by Location
      • Exhibit 54: Data Table on Comparison by Location
    • 7.3 In-house - Market size and forecast 2022-2027
      • Exhibit 55: Chart on In-house - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on In-house - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on In-house - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on In-house - Year-over-year growth 2022-2027 (%)
    • 7.4 Out-source - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Out-source - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Out-source - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Out-source - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Out-source - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Location
      • Exhibit 63: Market opportunity by Location ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 65: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 66: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 67: Chart on Geographic comparison
      • Exhibit 68: Data Table on Geographic comparison
    • 9.3 Europe - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.4 APAC - Market size and forecast 2022-2027
      • Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 Germany - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.10 China - Market size and forecast 2022-2027
      • Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.11 France - Market size and forecast 2022-2027
      • Exhibit 101: Chart on France - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on France - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on France - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on France - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 105: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 109: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 110: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 111: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 112: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 113: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 114: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 115: Matrix on vendor position and classification
            • 12.3 AKKA Technologies SE
              • Exhibit 116: AKKA Technologies SE - Overview
              • Exhibit 117: AKKA Technologies SE - Business segments
              • Exhibit 118: AKKA Technologies SE - Key offerings
              • Exhibit 119: AKKA Technologies SE - Segment focus
            • 12.4 Altair Engineering Inc.
              • Exhibit 120: Altair Engineering Inc. - Overview
              • Exhibit 121: Altair Engineering Inc. - Business segments
              • Exhibit 122: Altair Engineering Inc. - Key offerings
              • Exhibit 123: Altair Engineering Inc. - Segment focus
            • 12.5 AVL List GmbH
              • Exhibit 124: AVL List GmbH - Overview
              • Exhibit 125: AVL List GmbH - Product / Service
              • Exhibit 126: AVL List GmbH - Key offerings
            • 12.6 Belcan LLC
              • Exhibit 127: Belcan LLC - Overview
              • Exhibit 128: Belcan LLC - Product / Service
              • Exhibit 129: Belcan LLC - Key offerings
            • 12.7 Bertrandt AG
              • Exhibit 130: Bertrandt AG - Overview
              • Exhibit 131: Bertrandt AG - Product / Service
              • Exhibit 132: Bertrandt AG - Key news
              • Exhibit 133: Bertrandt AG - Key offerings
            • 12.8 Capgemini Service SAS
              • Exhibit 134: Capgemini Service SAS - Overview
              • Exhibit 135: Capgemini Service SAS - Business segments
              • Exhibit 136: Capgemini Service SAS - Key news
              • Exhibit 137: Capgemini Service SAS - Key offerings
              • Exhibit 138: Capgemini Service SAS - Segment focus
            • 12.9 EDAG Group
              • Exhibit 139: EDAG Group - Overview
              • Exhibit 140: EDAG Group - Product / Service
              • Exhibit 141: EDAG Group - Key news
              • Exhibit 142: EDAG Group - Key offerings
            • 12.10 EPAM Systems Inc.
              • Exhibit 143: EPAM Systems Inc. - Overview
              • Exhibit 144: EPAM Systems Inc. - Business segments
              • Exhibit 145: EPAM Systems Inc. - Key offerings
              • Exhibit 146: EPAM Systems Inc. - Segment focus
            • 12.11 FEV Group GmbH
              • Exhibit 147: FEV Group GmbH - Overview
              • Exhibit 148: FEV Group GmbH - Product / Service
              • Exhibit 149: FEV Group GmbH - Key offerings
            • 12.12 HCL Technologies Ltd.
              • Exhibit 150: HCL Technologies Ltd. - Overview
              • Exhibit 151: HCL Technologies Ltd. - Business segments
              • Exhibit 152: HCL Technologies Ltd. - Key offerings
              • Exhibit 153: HCL Technologies Ltd. - Segment focus
            • 12.13 IAV GmbH
              • Exhibit 154: IAV GmbH - Overview
              • Exhibit 155: IAV GmbH - Product / Service
              • Exhibit 156: IAV GmbH - Key offerings
            • 12.14 L and T Technology Services Ltd.
              • Exhibit 157: L and T Technology Services Ltd. - Overview
              • Exhibit 158: L and T Technology Services Ltd. - Business segments
              • Exhibit 159: L and T Technology Services Ltd. - Key offerings
              • Exhibit 160: L and T Technology Services Ltd. - Segment focus
            • 12.15 Magna International Inc.
              • Exhibit 161: Magna International Inc. - Overview
              • Exhibit 162: Magna International Inc. - Business segments
              • Exhibit 163: Magna International Inc. - Key news
              • Exhibit 164: Magna International Inc. - Key offerings
              • Exhibit 165: Magna International Inc. - Segment focus
            • 12.16 Mahindra and Mahindra Ltd.
              • Exhibit 166: Mahindra and Mahindra Ltd. - Overview
              • Exhibit 167: Mahindra and Mahindra Ltd. - Business segments
              • Exhibit 168: Mahindra and Mahindra Ltd. - Key news
              • Exhibit 169: Mahindra and Mahindra Ltd. - Key offerings
              • Exhibit 170: Mahindra and Mahindra Ltd. - Segment focus
            • 12.17 Ricardo Plc
              • Exhibit 171: Ricardo Plc - Overview
              • Exhibit 172: Ricardo Plc - Business segments
              • Exhibit 173: Ricardo Plc - Key offerings
              • Exhibit 174: Ricardo Plc - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 175: Inclusions checklist
                • Exhibit 176: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 177: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 178: Research methodology
                • Exhibit 179: Validation techniques employed for market sizing
                • Exhibit 180: Information sources
              • 13.5 List of abbreviations
                • Exhibit 181: List of abbreviations
              • Engineering and Research and Development Services

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                Automotive Engineering Service Providers (ESP) market growth will increase by $8381.88 million during 2023-2027.
                The automotive engineering service providers (esp) market is expected to grow at a CAGR of 8.2% during 2023-2027.
                Technavio has segmented the automotive engineering service providers (esp) market by service (Powertrain, Complete vehicle, Electrical/electronics, and Others) ,location (In-house, Out-source, APAC, South America, and MEA) , and geography (Europe, APAC, North America, South America, and Middle East and Africa).
                AKKA Technologies SE, Altair Engineering Inc., ASM Technologies Ltd., AVL List GmbH, Belcan LLC, Bertrandt AG, Capgemini Service SAS, Contechs Holdings Ltd., EDAG Group, EPAM Systems Inc., FEV Group GmbH, HCL Technologies Ltd., Hitachi Ltd., IAV GmbH, KPIT Technologies Ltd., L and T Technology Services Ltd., Magna International Inc., Mahindra and Mahindra Ltd., Onward Technologies Ltd., Ricardo Plc are a few of the key vendors in the automotive engineering service providers (esp) market.
                APAC will register the highest growth rate of 29.62% among the other regions. Therefore, the automotive engineering service providers (esp) market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the automotive engineering service providers (esp) market growth are:
                • Increasing vehicle digitization and electrification
                • Development of autonomous vehicles
                The automotive engineering service providers (esp) market vendors should focus on grabbing business opportunities from the powertrain segment as it accounted for the largest market share in the base year.
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