Global Automotive Engineering Services Outsourcing Market Overview:
Engineering services are tasks that include the nonphysical acts of engineering, like the preparation, design, as well as consulting work supportive to engineering. One example is the design of a jet engine, though, the actual building of the engine is measured as an engineering function. Engineering service providers exclusively focus on the services for engineering & rarely work on the engineering processes they establish, consult, & manage. Many Original Equipment Manufacturers (OEMs) outsource core engineering, & allied, tasks to get highly-skilled and specialized services at low cost. One of the key drivers for the growth of the global automotive engineering services outsourcing market is cost savings from lower labor wages that are likely to impel the growth of the market over the coming years. Some of the key players profiled in the study are Ricardo Plc (United Kingdom), AVL (Austria), IAV GmbH (Germany), FEV GmbH (Germany), Intertek Group plc (United Kingdom), Magna International Inc. (Canada), Magneti Marelli S.p.A. (Italy), Altran Technologies, SA (France), ARRK Product Development Group USA, Inc.(United States) and Bertrandt AG (Germany).
On the basis of geography, the market of Automotive Engineering Services Outsourcing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia-Pacific region held largest market share in the year 2018. If we see Market by Automotive ESO Location, the sub-segment i.e. On-shore will boost the Automotive Engineering Services Outsourcing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Demand For Fuel-Efficient Vehicles
- Availability Of Low-Cost Skilled Labor
- Gradually Strict Government Regulations
- Evolution Of Industrial IoT
- High Cost Related To Engineering Services
- Technological Advancements In Automotive Engineering Services Outsourcing
On 11 Sept 2017, Ricardo has announced the acquisition of Control Point Corporation. This acquisition will enhance deep engineering and software development capabilities, the new organization will be able to offer its customers in the United States defense sector an expanding portfolio of services and solutions.
Many key companies are working toward offering a more comprehensive solution catering to diverse requirements of their clients. For instance, FEV Group established a suite of services, making it a “one-stop shop” for the development, design, testing, as well as deployment of cybersecurity solutions & other many connected vehicle technologies.
Target Audience:Automotive OEMs, Automotive engineering service providers, Automotive manufacturers, Automotive engineering equipment manufacturers and Government and Industry Associations
Major Objectives Focused through this Study To define, describe, and forecast the Global Automotive Engineering Services Outsourcing market on the basis of product  , application [Designing, Prototyping, System Integration and Testing], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Automotive Engineering Services Outsourcing market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Automotive Engineering Services Outsourcing industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Aktis Engineering (India), Shiva Engineering Services (India), EDAG Engineering GmbH (Germany) and Neilsoft Limited (India).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Automotive Engineering Services Outsourcing market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.