The North America Automotive Engineering Services Outsourcing Market would witness market growth of 9.7% CAGR during the forecast period (2022-2028).
The automobile industry concentrated on mass manufacturing when it first started using Engineering Service Providers (ESPs) to provide services, integrating standardization, synchronization, accuracy, continuity, and interchangeability. Companies increasingly prioritize providing mass customization of vehicle production engineering services due to a paradigm change in client demands.
Opportunities for the expansion of the automotive ESO market are projected to arise from OEMs' rising preference for digitalized solutions. This is attributable to the end-user's paradigm shift in favor of more technologically advanced solutions. The Autonomous, Electric, Connected, and Shared Vehicles (ACES) disruptors are a digitalized business strategy being followed by the major industry participants to enable enhanced mobility standards and improve customer contact and experience with automobiles.
The need for commercial automobiles in the North American region is rising. This is due to fleet management's escalating demands for long-distance operations. Additionally, the local governments are passing a number of legislations related to carbon emissions. As a result, local manufacturers are utilizing the same technology in buses and commercial vehicles to cut carbon emissions, but they will encounter some unique challenges. Vehicles used for long-distance haulage have previously undergone substantial duty cycle and fuel efficiency optimization. This has offered significant growth prospects to the automotive engineering service outsourcing market in the North American region.
The US market dominated the North America Automotive Engineering Services Outsourcing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $30,183.5 million by 2028.The Canada market is poised to grow at a CAGR of 12.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 11.2% during (2022 - 2028).
Based on Application, the market is segmented into Powertrain & After-treatment, Body & Chassis, Infotainment & Connectivity, Autonomous Driving/ADAS and Others. Based on Location, the market is segmented into On-shore and Off-shore. Based on Service, the market is segmented into Prototyping, System Integration, Testing, Designing and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Automotive Engineering Services Outsourcing Market is Estimated to reach $161.3 Billion by 2028, at a CAGR of 10.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AKKA Technologies SE (Adecco Group AG) update parent company, Altair Engineering, Inc., ALTEN, AVL List GmbH, Horiba Ltd., Capgemini SE, HCL Technologies Ltd. (HCL Enterprises), Tech Mahindra Limited, FEV Group GmbH, and RLE International Group.
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