Automotive Engineering Service Providers (ESP) Market 2023-2027 Along with 5-Year Historic (2017-2021) Industry Size & Comparison of 20 Vendors and 14 Countries

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Nov 03, 2022, 04:00 ET

NEW YORK, Nov. 3, 2022 /PRNewswire/ -- The Automotive Engineering Service Providers (ESP) Market share is expected to increase by USD 8381.88 million from 2022 to 2027, with an accelerated CAGR of 8.2% - according to the recent market study by Technavio. This report also offers a 5-year historic (2017-2021) data projection of market size, segment, and region. The Y-O-Y growth rate of the Automotive Engineering Service Providers (ESP) Market is estimated at 7.38% as of 2023. Moreover, the market is fragmented. Our analysts have conducted an internal and external analysis of vendors to help companies understand the wider business environment as well as the strength and weaknesses of key market players. Our report also forecasts the Bargaining Power of Buyers & Suppliers and the Threat of New Entrants & Rivalry ranging between LOW-MODERATE during the forecast period.

Technavio has announced its latest market research report titled Global Automotive Engineering Service Providers (ESP) Market 2023-2027

Find Analysis of Price Sensitivity, Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria Prepared Exclusively by Technavio Research Analysts

One of the core components of customer landscape is Price Sensitivity – an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
Moreover, this report also provides impact of price sensitivity drivers (purchases are undifferentiated, purchase is a key cost to the buyer, and quality is not important), which are expected to range between LOW-HIGH from 2023-2027.
Our report provides extensive information on the customer landscape of the Automotive Engineering Service Providers (ESP) Market, involving qualitative and quantitative intelligence.

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The Automotive Engineering Service Providers (ESP) Market Report Also Offers Information on the Criticality of Inputs, R&D, Capex, Technology, Labor, and Brand of 20 Vendors Listed Below –

AKKA Technologies SE
Altair Engineering Inc.
AVL List GmbH
Capgemini Service SAS
EDAG Group
EPAM Systems Inc.
FEV Group GmbH
HCL Technologies Ltd.
Hitachi Ltd.
IAV GmbH
KPIT Technologies Ltd.
L&T Technology Services Ltd.
Mahindra & Mahindra Ltd.
Onward Technologies Ltd.
Ricardo Plc
ASM Technologies Ltd.
Belcan LLC
Contechs Holdings Ltd.
Magna International Inc.

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Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparison and Y-O-Y Growth of Automotive Engineering Service Providers (ESP) Industry Segment

The market is segmented by Service (Powertrain, Complete Vehicle, Electrical/Electronics, and Others) and Location (In-house and Outsource).
By Service - The powertrain segment shows a gradual increase in demands during 2023-2027.
OEMs are working on developing lightweight engines that can reduce the overall weight of a vehicle. This will have a positive impact on engine efficiency and, in turn, result in improved performance and reduced fuel consumption.
Fuel consumption is a key parameter for OEMs and consumers. Therefore, the strengthening of fuel economy standards across the world is driving the segment.

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Increasing Vehicle Digitization and Electrification is Notably Driving the Automotive Engineering Service Providers (ESP) Market Growth

Electronic systems have replaced mechanical components in many automobiles owing to the need for information, reduction in fuel consumption, low emissions, increase in safety, driver assistance, and an enhanced driving experience. Manufacturers are incorporating advanced features to differentiate their products. In addition, the growing focus on ADAS, such as lane assist systems, adaptive cruise control, blind spot detection, speed assist system, electronic stability control, and park assist system, will increase the volume of electronic components in vehicles.

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Chart & Data Table on Historic Market Size (2017-2021), Comparison and Y-O-Y Growth of 14 Countries of Automotive Engineering Service Providers (ESP) Industry

The market is segmented by Geography into North America (The US and Canada), Europe (The UK, Germany, France, and Rest of Europe), APAC (China and India), South America (Brazil, Argentina, and Colombia), and Middle East & Africa (Saudi Arabia, South Africa, and Rest of the Middle East & Africa).
Europe is projected to contribute 30% of market growth by 2027. The growth of the market in Europe is attributed to factors such as the presence of leading global automakers, such as Volkswagen AG (Volkswagen), Mercedes-Benz AG (Mercedes-Benz), BMW AG (BMW), and AB Volvo (Volvo). Countries such as Germany, France, Spain, and the UK will be the major contributors to market growth in the region. The development of autonomous vehicles and the rising focus on connected cars in Europe are encouraging ESP vendors to design and develop engineering solutions. Hence, the business prospects for ESP vendors will increase in the region during the forecast period.
The growth of the automotive engineering service providers (ESP) market declined in 2020 and 2021 due to the outbreak of COVID-19, as governments of various countries imposed lockdowns. However, in 2021, government initiatives, such as large-scale vaccination drives, led to a relaxation of lockdown restrictions and the resumption of business operations. In addition, governments started focusing on reviving industrial growth to improve the sales and production of vehicles in Europe 2022 onward. These factors will increase the demand for automotive ESPs, which, in turn, will fuel the growth of the market in the region during the forecast period.

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Automotive Engineering Service Providers (ESP) Market Scope
Report Coverage	Details
Page number	120
Base year	2022
Historical year	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 8.2%
Market growth 2023-2027	$8381.88 million
Market structure	Fragmented
YoY growth (%)	7.38
Regional analysis	Europe, APAC, North America, South America, and the Middle East and Africa
Performing market contribution	Europe at 30%
Key consumer countries	US, China, Germany, France, and UK
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Key companies profiled	AKKA Technologies SE, Altair Engineering Inc., AVL List GmbH, Bertrandt AG, Capgemini Service SAS, EDAG Group, EPAM Systems Inc., FEV Group GmbH, HCL Technologies Ltd., Hitachi Ltd., IAV GmbH, KPIT Technologies Ltd., L&T Technology Services Ltd., Mahindra & Mahindra Ltd., Onward Technologies Ltd., Ricardo Plc, ASM Technologies Ltd., Belcan LLC, Contechs Holdings Ltd., and Magna International Inc.
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse Consumer Discretionary Market Reports

Table of Contents

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
Exhibit 06: Executive Summary – Chart on Market Segmentation by Location
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global automotive engineering service providers (ESP) market 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on Global automotive engineering service providers (ESP) market 2017 - 2021 ($ million)

4.2 Service Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Service Segment 2017 - 2021 ($ million)

4.3 Location Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – Location Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Service

6.1 Market segments

Exhibit 30: Chart on Service - Market share 2022-2027 (%)
Exhibit 31: Data Table on Service - Market share 2022-2027 (%)

6.2 Comparison by Service

Exhibit 32: Chart on Comparison by Service
Exhibit 33: Data Table on Comparison by Service

6.3 Powertrain - Market size and forecast 2022-2027

Exhibit 34: Chart on Powertrain - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Powertrain - Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Powertrain - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Powertrain - Year-over-year growth 2022-2027 (%)

6.4 Complete vehicle - Market size and forecast 2022-2027

Exhibit 38: Chart on Complete vehicle - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Complete vehicle - Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Complete vehicle - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Complete vehicle - Year-over-year growth 2022-2027 (%)

6.5 Electrical/electronics - Market size and forecast 2022-2027

Exhibit 42: Chart on Electrical/electronics - Market size and forecast 2022-2027 ($ million)
Exhibit 43: Data Table on Electrical/electronics - Market size and forecast 2022-2027 ($ million)
Exhibit 44: Chart on Electrical/electronics - Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Electrical/electronics - Year-over-year growth 2022-2027 (%)

6.6 Others - Market size and forecast 2022-2027

Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

6.7 Market opportunity by Service

Exhibit 50: Market opportunity by Service ($ million)

7 Market Segmentation by Location

7.1 Market segments

Exhibit 51: Chart on Location - Market share 2022-2027 (%)
Exhibit 52: Data Table on Location - Market share 2022-2027 (%)

7.2 Comparison by Location

Exhibit 53: Chart on Comparison by Location
Exhibit 54: Data Table on Comparison by Location

7.3 In-house - Market size and forecast 2022-2027

Exhibit 55: Chart on In-house - Market size and forecast 2022-2027 ($ million)
Exhibit 56: Data Table on In-house - Market size and forecast 2022-2027 ($ million)
Exhibit 57: Chart on In-house - Year-over-year growth 2022-2027 (%)
Exhibit 58: Data Table on In-house - Year-over-year growth 2022-2027 (%)

7.4 Out-source - Market size and forecast 2022-2027

Exhibit 59: Chart on Out-source - Market size and forecast 2022-2027 ($ million)
Exhibit 60: Data Table on Out-source - Market size and forecast 2022-2027 ($ million)
Exhibit 61: Chart on Out-source - Year-over-year growth 2022-2027 (%)
Exhibit 62: Data Table on Out-source - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Location

Exhibit 63: Market opportunity by Location ($ million)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 65: Chart on Market share by geography 2022-2027 (%)
Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 67: Chart on Geographic comparison
Exhibit 68: Data Table on Geographic comparison

9.3 Europe - Market size and forecast 2022-2027

Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.4 APAC - Market size and forecast 2022-2027

Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.5 North America - Market size and forecast 2022-2027

Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.6 South America - Market size and forecast 2022-2027

Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa - Market size and forecast 2022-2027

Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027

Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 Germany - Market size and forecast 2022-2027

Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.10 China - Market size and forecast 2022-2027

Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

9.11 France - Market size and forecast 2022-2027

Exhibit 101: Chart on France - Market size and forecast 2022-2027 ($ million)
Exhibit 102: Data Table on France - Market size and forecast 2022-2027 ($ million)
Exhibit 103: Chart on France - Year-over-year growth 2022-2027 (%)
Exhibit 104: Data Table on France - Year-over-year growth 2022-2027 (%)

9.12 UK - Market size and forecast 2022-2027

Exhibit 105: Chart on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 106: Data Table on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 107: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 108: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 110: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 112: Overview on factors of disruption

11.4 Industry risks

Exhibit 113: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 114: Vendors covered

12.2 Market positioning of vendors

Exhibit 115: Matrix on vendor position and classification

12.3 AKKA Technologies SE

Exhibit 116: AKKA Technologies SE - Overview
Exhibit 117: AKKA Technologies SE - Business segments
Exhibit 118: AKKA Technologies SE - Key offerings
Exhibit 119: AKKA Technologies SE - Segment focus

12.4 Altair Engineering Inc.

Exhibit 120: Altair Engineering Inc. - Overview
Exhibit 121: Altair Engineering Inc. - Business segments
Exhibit 122: Altair Engineering Inc. - Key offerings
Exhibit 123: Altair Engineering Inc. - Segment focus

12.5 ASM Technologies Ltd.

Exhibit 124: ASM Technologies Ltd. - Overview
Exhibit 125: ASM Technologies Ltd. - Key offerings

12.6 AVL List GmbH

Exhibit 126: AVL List GmbH - Overview
Exhibit 127: AVL List GmbH - Product / Service
Exhibit 128: AVL List GmbH - Key offerings

12.7 Belcan LLC

Exhibit 129: Belcan LLC - Overview
Exhibit 130: Belcan LLC - Product / Service
Exhibit 131: Belcan LLC - Key offerings

12.8 Bertrandt AG

Exhibit 132: Bertrandt AG - Overview
Exhibit 133: Bertrandt AG - Product / Service
Exhibit 134: Bertrandt AG - Key news
Exhibit 135: Bertrandt AG - Key offerings

12.9 Capgemini Service SAS

Exhibit 136: Capgemini Service SAS - Overview
Exhibit 137: Capgemini Service SAS - Business segments
Exhibit 138: Capgemini Service SAS - Key news
Exhibit 139: Capgemini Service SAS - Key offerings
Exhibit 140: Capgemini Service SAS - Segment focus

12.10 Contechs Holdings Ltd.

Exhibit 141: Contechs Holdings Ltd. - Overview
Exhibit 142: Contechs Holdings Ltd. - Product / Service
Exhibit 143: Contechs Holdings Ltd. - Key offerings

12.11 EDAG Group

Exhibit 144: EDAG Group - Overview
Exhibit 145: EDAG Group - Product / Service
Exhibit 146: EDAG Group - Key news
Exhibit 147: EDAG Group - Key offerings

12.12 EPAM Systems Inc.

Exhibit 148: EPAM Systems Inc. - Overview
Exhibit 149: EPAM Systems Inc. - Business segments
Exhibit 150: EPAM Systems Inc. - Key offerings
Exhibit 151: EPAM Systems Inc. - Segment focus

12.13 HCL Technologies Ltd.

Exhibit 152: HCL Technologies Ltd. - Overview
Exhibit 153: HCL Technologies Ltd. - Business segments
Exhibit 154: HCL Technologies Ltd. - Key offerings
Exhibit 155: HCL Technologies Ltd. - Segment focus

12.14 IAV GmbH

Exhibit 156: IAV GmbH - Overview
Exhibit 157: IAV GmbH - Product / Service
Exhibit 158: IAV GmbH - Key offerings

12.15 L and T Technology Services Ltd.

Exhibit 159: L and T Technology Services Ltd. - Overview
Exhibit 160: L and T Technology Services Ltd. - Business segments
Exhibit 161: L and T Technology Services Ltd. - Key offerings
Exhibit 162: L and T Technology Services Ltd. - Segment focus

12.16 Mahindra and Mahindra Ltd.

Exhibit 163: Mahindra and Mahindra Ltd. - Overview
Exhibit 164: Mahindra and Mahindra Ltd. - Business segments
Exhibit 165: Mahindra and Mahindra Ltd. - Key news
Exhibit 166: Mahindra and Mahindra Ltd. - Key offerings
Exhibit 167: Mahindra and Mahindra Ltd. - Segment focus

12.17 Ricardo Plc

Exhibit 168: Ricardo Plc - Overview
Exhibit 169: Ricardo Plc - Business segments
Exhibit 170: Ricardo Plc - Key offerings
Exhibit 171: Ricardo Plc - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 172: Inclusions checklist
Exhibit 173: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 174: Currency conversion rates for US$

13.4 Research methodology

Exhibit 175: Research methodology
Exhibit 176: Validation techniques employed for market sizing
Exhibit 177: Information sources

13.5 List of abbreviations

Exhibit 178: List of abbreviations

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