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Automotive Engineering Service Providers (ESP) Market to Grow by $ 5.31 bn in 2020 | AKKA Technologies SE, AVL List GmbH, and Tech Mahindra Ltd. Emerge as Key Contributors to Growth | Technavio

LONDON--(BUSINESS WIRE)--Nov 4, 2020--

Technavio has been monitoring the automotive engineering service providers (ESP) market and it is poised to grow by USD 5.31 bn during 2020-2024, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201104005160/en/

Technavio has announced its latest market research report titled Global Automotive Engineering Service Providers (ESP) Market 2020-2024 (Graphic: Business Wire)

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive engineering service providers (ESP) market. The market growth in 2020 is likely to increase compared to market growth in 2019.

Frequently Asked Questions:

  • What are the major trends in the market?
    The development of autonomous vehicles is a major trend driving the growth of the market.
  • At what rate is the market projected to grow?
    The year-over-year growth for 2020 is estimated at 5.61% and the incremental growth of the market is anticipated to be $ 5.31 bn.
  • Who are the top players in the 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 Plc, and Tech Mahindra Ltd., are some of the major market participants.
  • What is the key market driver?
    The increasing vehicle digitization and electrification is one of the major factors driving the market.
  • How big is the APAC market?
    The APAC region will contribute 30% of the market share.

     

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The market is fragmented, and the degree of fragmentation will accelerate during 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. are some of the major market participants. The increasing vehicle digitization and electrification will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this automotive engineering service providers (ESP) market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

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

Automotive Engineering Service Providers (ESP) Market is segmented as below:

  • Service
    • Powertrain
    • Complete Vehicle
    • Electrical/electronics
    • Others
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

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

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

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive engineering service providers (ESP) market report covers the following areas:

  • Automotive Engineering Service Providers (ESP) Market Size
  • Automotive Engineering Service Providers (ESP) Market Trends
  • Automotive Engineering Service Providers (ESP) Market Industry Analysis

This study identifies the development of autonomous vehicles as one of the prime reasons driving the automotive engineering service providers (ESP) market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist automotive engineering service providers (ESP) market growth during the next five years
  • Estimation of the automotive engineering service providers (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 providers (ESP) market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive engineering service providers (ESP) market vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2019
  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

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: GEOGRAPHIC 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
  • Key leading countries
  • Market opportunity

PART 09: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 10: MARKET TRENDS

  • Development of autonomous vehicles
  • Fully integrated engineering data process chain for additive manufacturing
  • Industry 4.0: Trends impacting automotive ESP

PART 11: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 12: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • 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
  • Tech Mahindra Ltd.

PART 13: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 14: EXPLORE TECHNAVIO

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201104005160/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

Email:[email protected]

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: ENGINEERING AUTOMOTIVE MANUFACTURING MANUFACTURING

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 11/04/2020 03:30 AM/DISC: 11/04/2020 03:30 AM

http://www.businesswire.com/news/home/20201104005160/en

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