Report Titled: “Automotive Engineering Service Providers (ESP) Market by Service and Geography – Forecast and Analysis 2020-2024”
Global Automotive Engineering Service Providers (ESP) Market report 2020-2024 focuses on the global Automotive Engineering Service Providers (ESP) industry status, future forecast, growth opportunity, key market, and key players. The global Automotive Engineering Service Providers (ESP) market study report examines the market size, industry share, growth rate, key segments, CAGR and key drivers. Automotive Engineering Service Providers (ESP) market report offers an extensive analysis of important winning strategies, changing dynamics, competitive landscape, regional information that will help to know the current status of the market.
Global Automotive Engineering Service Providers (ESP) market is expected to grow at a CAGR ofover 6%and themarket growth rate increased by USD 5.31 billionduring the forecast period 2020-2024.
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Automotive Engineering Service Providers (ESP) Market latest investigation shows that year-over-year growth rate is estimated at5.61 % during the forecast period 2020-2024.
Automotive Engineering Service Providers (ESP) Market Overview:
Automotive Engineering Service Providers (ESP) Market analysis sales from the powertrain, complete vehicle, electrical/electronics, and other services. Our study also finds the sales of ESP in APAC, Europe, MEA, North America, and South America. In 2019, the powertrain segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing need for rigorous testing and validation methodologies of engines and their components for compliance with stringent emission standards will play a significant role in the powertrain segment to maintain its market position. Also, our global ESP market report looks at factors such as increasing vehicle digitization and electrification, rising demand for vehicle connectivity solutions, and development of alternative powertrains. However, increasing cost pressure on OEMs, frequent changes in market dynamics lead to increase in order backlog, and rising cybersecurity threats may hamper the growth of the ESP industry over the forecast period.
Major Key Players of Global Automotive Engineering Service Providers (ESP) Market Report Are:
Market Dynamics of Global Automotive Engineering Service Providers (ESP) Market:
Drivers:Development of Autonomous VehiclesRestraints:Increasing Vehicle Digitization And Electrification.Opportunities:Increasing Cost Pressure on Oems.Increasing vehicle digitization and electrificationManufacturers are incorporating advanced features in cars for product differentiation and sustaining the competitive market. In addition, the growing focus of OEMs on ADAS, such as lane assist system, blind-spot detection, electronic stability control, speed assist system, and adaptive cruise control has increased the number of electronic components in vehicles. Furthermore, OEMs are forming partnerships or entering into agreements with electronics, energy, and telecommunication companies to offer digitization and electrification of mechanical components. These developments. Increasing vehicle digitization and electrification will lead to the expansion of the global ESP market at a CAGR of over 6% during the forecast period.Development of autonomous vehiclesThere has been an increasing focus on the development of autonomous vehicles in recent years. Companies and OEMs are pooling their RandD resources for designing and developing successful prototypes of autonomous vehicles. In addition, automakers are partnering with technology companies for integrating vehicles with artificial intelligence to create technologically advanced vehicles. Furthermore, the growth in the development of autonomous vehicles can be attributed to the shifting perception of consumers toward car ownership. This has further encouraged the OEMs to develop more driverless and autonomous vehicles for adapting to the consumers’ behavioral changes. This development is expected to have a positive impact on the overall market growth.
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Automotive Engineering Service Providers (ESP) Market Segmentation Covers:
BYSERVICE:
Global Automotive Engineering Service Providers (ESP) Market Report Covers the Following Regions:
North America, APAC, Australiais the fastest growing regions according to latest study of Automotive Engineering Service Providers (ESP) market report. The Automotive Engineering Service Providers (ESP) market has been created based on an in-depth market analysis with inputs from industry experts. The report covers the growth prospects over the coming years and discussion of the key vendors.
The Research Document Will Answer Following Questions Such as:
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Reasons to buy Global Automotive Engineering Service Providers (ESP) Market Report:
Detailed TOC of Automotive Engineering Service Providers (ESP) Market Report 2020-2024:
PART 01: EXECUTIVE SUMMARY
PART 01: EXECUTIVE SUMMARY•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 and Toubro Ltd.•Ricardo Plc•Tech Mahindra Ltd.
PART 13: APPENDIX•Research methodology•List of abbreviations•Definition of market positioning of vendors
PART 14: EXPLORE
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