The automotive engineering service providers (esp) market size is expected to grow by $ 7.41 bn during 2021-2025, decelerate at a CAGR of over 10%. The report provides thorouh insights on the COVID-19 impact on the market and new business opportunities, if any, during the pandemic period. According to Technavio research experts, we expect the impact to be significant during the first quarter, which should gradually alleviate in subsequent quarters – with a limited impact on the full-year economic growth.

View our exclusive report on the CMOS image sensors market covering market trends, vendor analysis, and growth opportunities to improve your business - Download Free Sample Report.

Automotive Engineering Service Providers (ESP) Market Trends & Drivers

The automotive engineering service providers (esp) market research report has a detailed analysis on the key drivers, trends, and challenges, which will help vendors in making important business decisions and modifications to cater to the changing consumer demand. While it is essential to capitalize on key drivers such as increasing vehicle digitization and electrification, it is also crucial to understand the challenges that will impede sales during the forecast period. Identifying and addressing market growth challenges will create additional opportunities for the existing and new market players.  

Want to understand the change in consumer behavior pattern post COVID pandemic impact? Request Free Sample

The automotive engineering service providers (esp) market has also explored key trends such as development of autonomous vehicles, which will have a significant positive impact on the market growth over the forecast period. A thorough study of the market trends will enable vendors to understand demographics effectively, which can be used to further product and service innovation.

Register for a free trial today and gain instant access to 17,000+ market research reports covering 800 technologies across 50 countries.

Automotive Engineering Service Providers (ESP) Market: Segmentation Analysis

This market research report segments the automotive engineering service providers (esp) market by Service (Powertrain, Complete vehicle, Electrical/electronics, and Others) and Geography (Europe, North America, APAC, South America, and MEA).

The Europe region led the automotive engineering service providers (esp) market in 2021, followed by North America, APAC, South America, and MEA respectively. During the forecast period, the Europe region is expected to register the highest incremental growth due to factors such as .

Get exclusive market insights that is a robust base for businesses to obtain growth opportunities. Download Free Sample Report

A few of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario