(EMAILWIRE.COM, October 26, 2021 ) The global Automotive Engineering Services Market is projected to grow at a CAGR of 8.8% from $153.3 billion in 2021 to $253.9 billion by 2027. High demand for electric passenger and commercial vehicles, as well as increasing R&D investments in autonomous vehicles, will be driving the growth of the automotive engineering services market.

The automotive engineering services market is dominated by global players such as Capgemini (France), IAV Automotive Engineering (Germany), Tech Mahindra (India), AKKA Technologies (Belgium), and Bertrandt AG (Germany).

Automotive engineering services deal with the design and development of automotive components and related technologies to address complex technical challenges in the vehicle development value chain. The engineering service process starts with conceptualization, designing, prototyping, system integration, and testing. Automotive engineering services include vehicle connectivity services, ADAS (advanced driver-assistance systems) and safety systems, interior & exterior design and body engineering services, passenger comfort, and others. These services assess different areas in a vehicle and provide data to check on a vehicle’s development and validation.

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The advent of electric vehicles and connected vehicles has shifted the focus of automotive OEMs from mechanical components in a vehicle to electronic components and connectivity features. Advanced connectivity features have led to several innovations and trends. With continuous developments in connectivity, infotainment, and advanced driver assistance systems, automotive suppliers are now focusing on electronics and software in automobiles. The growing complexity and intricate automotive system involving various platforms, multiple suppliers, and numerous transfer protocols have accentuated the need to develop, test, and support multiple communication technologies. This, in turn, has raised the demand for automotive engineering services.

Electrical, electronics, and body controls are expected to lead the automotive engineering services market

Automotive electrical, electronics, and body controls have a high value-added proportion in vehicle development. Electronics and electrical systems play a crucial role in handling all functions dedicated to passenger comfort and convenience. Services in automotive electrical and electronics include power management module, climate control, power window, body control module, and smart mirror and wipers. The trend is expected to grow due to the adoption of electric vehicles and complex electronic components for a safer and functional driving experience. Service providers such as L&T Technology Services and FEV have invested huge resources to develop electrical, electronics, and body control solutions in automotive engineering services.

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In-house engineering services are expected to lead the automotive engineering services market during the forecast period

The in-house engineering services are expected to be the largest market. Major OEMs keep complicated automotive engineerings services such as engine design, powertrain design, and transmission systems for in-house development. These designs and optimizations vary from one OEM to another and, thus, require different techniques and specialization that can be done in-house for better results. Also, the growing focus on zero-emission vehicles has compelled OEMs to redesign their existing engines to comply with the latest emission standards. The designing of electric vehicles would enhance the demand for in-house investments by OEMs.