Dublin, Jan. 28, 2024 (GLOBE NEWSWIRE) -- The "Automotive Transmission Engineering Services Outsourcing Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global automotive transmission engineering services outsourcing market is projected to experience significant growth, reaching a market size of $15.41 billion by 2028 at a compound annual growth rate (CAGR) of 4.9%, as outlined in a recently published market research report. This comprehensive analysis anticipates a substantial uptick in demand, propelled by the increasing adoption of hybrid and electric vehicles (EVs) and technological advancements in automotive transmission systems.
Technological Enhancements in Hybrid and EVs Fuel Market Expansion
The report underscores a notable shift within the automotive transmission engineering services outsourcing sector, highlighting the acute focus on hybrid and electric powertrain systems. Key drivers for this market surge are the rise in consumer demand for environmentally friendly vehicles, the expansion of global electric vehicle sales, and the strategic collaborations aimed at accelerating technology adoption.
Asia-Pacific Leads Market Share
According to the findings, the Asia-Pacific region dominated the market share in 2023, with significant expansions forecasted. This trend is attributed to the area's robust automotive manufacturing sector and increased investment in advanced vehicular technologies.
Strategic Partnerships and Technological Innovations Shaping the Industry
The report identifies strategic partnerships, acquisitions, and technological developments as vital contributors to the industry's evolution. For instance, recent collaborations between automotive companies and engineering service providers have resulted in the creation and distribution of advanced products that resonate with the current demand for sustainable and efficient mobility solutions.
Major Players Lead the Charge in Market Growth
Esteemed entities operating within the outsourcing market are mentioned for their critical role in forging industry advancements. These market players have been actively participating in strategic ventures that accentuate their capabilities in engineering services and product development.
- Regional Analysis: The report offers a granular analysis of the regions and countries steering the growth, with a spotlight on the most significant contributions from specific locations.
- Service Categories: Designing, prototyping, testing, system engineering and integration, and simulation represent the core service offerings that are experiencing increased demand.
- Market Trends: Emphasizing market trends, the report sheds light on digital twin technology adoption, virtual testing, simulation in transmission design, and the outsourcing of transmission software development.
- Future Outlook: The extensive report provides a futuristic view of the industry, anticipating its trajectory based on current technological advances and market inclinations.
A selection of companies mentioned in this report includes
- AVL List GmbH
- FEV Group GmbH
- IAV GmbH
- Ricardo plc
- Intertek Group plc
- Bertrandt AG
- EDAG Engineering GmbH
- Tata Consultancy Services Limited
- Marelli Europe SpA
- Horiba Ltd.
- Porsche Engineering Group GmbH
- Alten SA
- P3 Automotive GmbH
- Altair Engineering Inc.
- RLE International Group
- ASAP Holding GmbH
- Kistler Holding AG
- M Plan GmbH
- P+Z Engineering GmbH
- Magna International Inc.
- Robert Bosch GmbH
- Akka Technologies India Private Limited
- ESG Group Pty Ltd.
- ITK Engineering GmbH
- ZF Friedrichshafen AG
- Jatco Ltd.
- Aisin Seiki Co. Ltd.
- Infosys Limited
- Wipro Limited
- HCL Technologies Limited
- Tech Mahindra Limited
- Capgemini SE
For more information about this report visit https://www.researchandmarkets.com/r/4zqgoj
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