DUBLIN--(BUSINESS WIRE)--The "Global Automotive Engineering Service Providers (ESP) Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.
The analysts forecast the Global Automotive Engineering Service Providers (ESP) Market to grow at a CAGR of 6.31% during the period 2018-2022.
Automotive engineering service providers offer engineering solutions to different elements along the entire automotive industry value chain. They incorporate the designing, fabricating, development, and testing of various elements, such as mechanical, electrical, electronics, software, and safety. They include all the services that are required at each stage of the product lifecycle, from conceptualization to production.
One trend affecting this market is the development of autonomous vehicles Autonomous cars are unmanned and navigate without human intervention by sensing their environment using devices like, global positioning system (GPS), and ADAS. These cars are also known as self-driving cars, automated cars, or driverless cars. Highly complex working nature of autonomous cars has driven companies and OEMs to pool their R&D resources to design and develop successful prototypes that evolve over time to enhance the performance.
According to the report, one driver influencing this market is the increasing vehicle digitization and electrification. In the last decade, electronic systems have replaced mechanical components in modern automobiles to a considerable extent. This is attributable to the ever-growing need for increased information to the driver, reduced fuel consumption, lower emissions, increased safety, driver assistance, and easy and pleasant driving experience.
Further, the report states that one challenge affecting this market is increasing cost pressure on OEMs. In the automotive industry value chain, OEMs are liable for most of the warranty costs and price pressure from the demand side. With the increasing adoption of new advanced technologies in vehicles, the bargaining power of OEMs has reduced for certain equipment, technologies, and services.
- EDAG Engineering
- Robert Bosch
Key Topics Covered:
1: Executive Summary
2: Scope Of The Report
3: Research Methodology
4: Market Landscape
5: Market Sizing
6: Five Forces Analysis
7: Market Segmentation By Service Type
8: Customer Landscape
9: Regional Landscape
10: Decision Framework
11: Drivers And Challenges
12: Market Trends
13: Vendor Landscape
14: Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/g5c324/global_automotive?w=4