Advancement of vehicle technologies is reshaping the global automotive engineering services market, which reached an estimated USD 165 billion in 2024 and is projected to grow at a CAGR of 12% through 2034. Rising adoption of electric vehicle (EV) engineering services, autonomous vehicle development, connected car technologies, and sustainable mobility initiatives is fueling automotive engineering services industry expansion. Asia Pacific remains a pivotal hub, contributing 44% of the market share in 2024, with strong manufacturing ecosystems in China, Japan, and South Korea, while Europe and North America focus on AI-driven automotive design, powertrain optimization, lightweight materials, and advanced CAE/CAD simulation services. Current trends include battery-electric powertrain engineering, IoT-enabled connected car solutions, autonomous mobility design, and AI-assisted vehicle testing, which are transforming vehicle performance, safety, and efficiency.
Automotive overview
Published by MMR Statistics Research Team, Updated