Automotive engineering

COVID-19 Impacts: Automotive Engineering Service Provider (ESP) Market to Accelerate at a CAGR of Over 6% Through 2020-2024 | Increase vehicle digitalization and electrification to drive growth | Technavio

LONDON–(BUSINESS WIRE)–Technavio monitors the Automotive Engineering Service Provider (ESP) market and it is poised to grow by $5.31 billion between 2020 and 2024, growing at a CAGR of over 6% during the forecast period. The report offers up-to-date analysis regarding the current market scenario, latest trends and drivers, and overall market environment.

Technavio offers three forecast scenarios (optimistic, probable and pessimistic) considering the impact of COVID-19. Please request the latest free COVID-19 impact report sample

Frequently Asked Questions-

  • What is the year-over-year growth of the automotive engineering service provider (ESP) market in 2020?

    Technavio says the market’s year-over-year growth is 5.61% in 2020.
  • How fast is the market expected to grow during the forecast period 2020-2024?

    With a CAGR of almost 6%, the market growth will accelerate during the forecast period.
  • What is the key factor driving the market?

    Increase the digitization and electrification of vehicles.
  • Who are the best market players?

    AKKA Technologies SE, AVL List GmbH, Bertrandt AG, Capgemini Service SAS, EDAG Engineering Group AG, HCL Technologies Ltd., IAV GmbH Ingenieurgesellschaft Auto und Verkehr, Larsen & Toubro Ltd., Ricardo Plc and Tech Mahindra Ltd. are the main actors. on the market.
  • Which region is expected to hold the highest market share?

    APAC.
  • What is the major trend in the Automotive Engineering Service Provider (ESP) market?

    Development of autonomous vehicles.
  • Based on segmentation by service, which segment is expected to experience the fastest growth in the global market?

    Powertrain.

The market is fragmented and the degree of fragmentation will accelerate over the forecast period. AKKA Technologies SE, AVL List GmbH, Bertrandt AG, Capgemini Service SAS, EDAG Engineering Group AG, HCL Technologies Ltd., IAV GmbH Ingenieurgesellschaft Auto und Verkehr, Larsen & Toubro Ltd., Ricardo Plc and Tech Mahindra Ltd. main market players. To make the most of the opportunities, sellers in the market should focus more on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Increasing digitization and electrification of vehicles has been instrumental in driving the growth of the market. However, frequent changes in market dynamics might hamper the growth of the market.

Automotive Engineering Service Provider (ESP) Market 2020-2024: Segmentation

The Automotive Engineering Service Provider (ESP) Market is segmented as follows:

  • Service

    • Powertrain

    • Complete vehicle

    • Electric/electronic

    • Others

  • Geographic landscape

    • APAC

    • Europe

    • AEM

    • North America

    • South America

To learn more about global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40095

Automotive Engineering Service Provider (ESP) Market 2020-2024: Scope

Technavio presents a detailed picture of the market through the study, synthesis and summation of data from several sources. Our Automotive Engineering Service Provider (ESP) Market report covers the following areas:

  • Automotive Engineering Service Provider (ESP) Market Size

  • Automotive Engineering Service Provider (ESP) Market Trends

  • Industry Analysis of the Automotive Engineering Service Providers (ESP) Market

This study identifies the development of autonomous vehicles as one of the major reasons driving the growth of the Automotive Engineering Service Provider (ESP) market over the next few years.

Automotive Engineering Service Provider (ESP) Market 2020-2024: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the Automotive Engineering Service Provider (esp) Market including some of the vendors such as AKKA Technologies SE, AVL List GmbH, Bertrandt AG, Capgemini Service SAS, EDAG Engineering Group AG, HCL Technologies Ltd., IAV GmbH Ingenieurgesellschaft Auto und Verkehr, Larsen & Toubro Ltd., Ricardo Plc and Tech Mahindra Ltd. Backed by competitive intelligence and benchmarking, our Automotive Engineering Service Provider (ESP) market research reports are designed to provide entry assistance, customer profile and mergers and acquisitions along with the support for go-to-market strategy.

Sign up today for a free trial and get instant access to over 17,000 market research reports. The Technavio SUBSCRIPTION platform

Automotive Engineering Service Provider (ESP) Market 2020-2024: Key Highlights

  • Market CAGR over the forecast period 2020-2024

  • In-depth information on factors that will assist Automotive Engineering Service Provider (ESP) market growth over the next five years

  • Estimation of the Automotive Engineering Service Provider (ESP) market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The Growth of the Automotive Engineering Service Provider (ESP) Market

  • Market Competitive Landscape Analysis and Detailed Vendor Information

  • Comprehensive details of factors that will challenge the growth of the Automotive Engineering Service Provider (ESP) Market vendors

Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF REPORT

  • 2.1 Preface

  • 2.2 Preface

  • 2.3 Currency conversion rates for the US dollar

PART 03: MARKET LANDSCAPE

  • Market ecosystem

  • Market characteristics

  • Market Segmentation Analysis

PART 04: MARKET SIZE

  • Market definition

  • Market size 2019

  • Market Size and Forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • The bargaining power of buyers

  • Bargaining power of suppliers

  • The threat of new entrants

  • The threat of substitutes

  • Threat of rivalry

  • Market state

PART 06: MARKET SEGMENTATION BY SERVICE

  • Market segmentation by service

  • Comparison by service

  • Powertrain – Market size and forecast 2019-2024

  • Complete Vehicle – Market size and forecast 2019-2024

  • Electrical/Electronics – Market size and forecast 2019-2024

  • Others – Market size and forecast 2019-2024

  • Market opportunity by service

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHICAL LANDSCAPE

  • Geographic segmentation

  • Geographic comparison

  • Europe – Market size and forecast 2019-2024

  • North America – Market size and forecast 2019-2024

  • APAC – Market size and forecast 2019-2024

  • South America – Market size and forecast 2019-2024

  • MEA – Market size and forecast 2019-2024

  • Main leading countries

  • Market opportunity

PART 09: DRIVERS AND CHALLENGES

  • Market factors

  • Market challenges

PART 10: MARKET TRENDS

PART 11: VENDOR LANDSCAPE

  • Overview

  • Landscape disturbance

  • Competitive scenario

PART 12: SUPPLIER ANALYSIS

  • Suppliers Covered

  • Ranking of suppliers

  • Positioning on the supplier market

  • AKKA Technologies SE

  • AVL List GmbH

  • Bertrandt AG

  • Capgemini Service SAS

  • EDAG Engineering Group AG

  • HCL Technologies Ltd.

  • IAV GmbH Ingenieurgesellschaft Auto und Verkehr

  • Larsen & Toubro Ltd.

  • Ricardo S.A.

  • Tech Mahindra Ltd.

PART 13: APPENDIX

  • Research methodology

  • Abreviations list

  • Definition of the market positioning of suppliers

PART 14: EXPLORE TECHNAVIO

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.