The automotive industry is undergoing rapid evolution, ushered in by innovative and disruptive technologies. Next-generation technological themes have redefined the entire automotive landscape and both the existing giants and new entrants are focusing on enhancing their capabilities and developing pertinent expertise.
The industry is witnessing new and varied end-users’ expectations, which has raised new challenges for the Original Equipment Manufacturers (OEMs) and Tier-1 suppliers, and automobiles now are not only expected to be connected with just about everything (V2X), but are also expected to be as smart as smartphones. These challenges are accompanied by stricter environmental and safety regulatory norms, and in the light of these advancements, all OEMs and Tier-1s have geared up to acquire the requisite resources and capabilities to hold onto their current share in the market.
Automobile manufacturers are seeking efficient ecosystems with strategic partners to cater to the evolving landscape. It has created a plethora of opportunities for service providers to be a part of this transformation journey by offering engineering solutions to global automotive players.
Service providers are capturing these opportunities by offering advanced and skilled engineering services, both off-the-shelf and customized, which are providing automotive players with significant cost savings and a faster time-to-market.
In this research, we present fact-based trends impacting the automotive engineering services market, along with the assessment and detailed profiles of 22 service providers featured in the automotive engineering services PEAK Matrix™.
The research comprises three broad chapters: