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Automotive Engineering Service Market worth $243.9 billion by 2028 – Exclusive Report by MarketsandMarkets™

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Chicago, July 28, 2023 (GLOBE NEWSWIRE) — Automotive Engineering Service Market is projected to grow from 153.2 billion in 2022 to 243.9 billion by 2028, registering a CAGR of 8.1%, according to a new report by MarketsandMarkets™. 

Browse and in-depth TOC on “Automotive Engineering Service Market”   
254 – Tables
62 – Figures      
267 – Pages

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Report Attributes Details
Market size value in 2022: USD 153.2 billion
Projected to reach 2028: USD 243.9 billion
CAGR: 8.1%
Base Year Considered: 2021
Forecast Period: 2022-2028
Largest Market: Asia Pacific
Region Covered: North America, Europe, Asia Pacific and Rest of the World
Segments Covered: By Application, Service Type, Location (In-house, Outsource), Vehicle Type (Passenger Cars, Commercial Vehicles), Nature Type (Body Leasing, Turnkey), Propulsion (ICE, Electric) and Region
Companies Covered: Capgemini (France), IAV Automotive Engineering (Germany), Tech Mahindra (India), AKKA Technologies (Belgium), and HCL Technologies (India) and others.

The growing demand of zero-emission vehicles, advancements in technologies such as ADAS, battery management, connectivity, among others, and rising commercial transport are expected to increase the demand for automotive engineering services around the world. For instance, the demand for automotive engineering services for electric vehicles such as battery development & management, charger testing, motor control, among others, is increasing due to the increased demand for electric passenger cars and commercial vehicles due to their lower operating noise and lower emissions as compared to their ICE counterparts. At present, major global automotive OEMs outsource processes such as designing, prototyping, system integration, and testing to an external source. The demand for outsourcing automotive engineering services has been increased from last few years. The outsourcing of automotive engineering services can help automotive OEMs by integrating product development with related operations such as engineering and warranty management.

Prototyping segment to be the largest market by value during forecast period

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Prototyping is estimated to be the largest service type segment of the automotive engineering services industry during the forecast period. Prototyping enables industry professionals to create functional models of a new part design in a short time. In addition, the adoption of 3D printing technology has significantly reduced the time it takes to manufacture the functional model. In the automotive industry, 3D printing has created opportunities for the creation of new designs (making products safer, cleaner, and lighter) and other 3D plastic prototype parts, with shorter delivery times and at lower costs. Rapid prototyping is done to keep the assembly line moving fast while staying flexible to adopt new designs. A visual prototype represents the appearance of a product but not the functionality. Prototyping allows OEMs to test new parts and technologies before sending them to the actual assembly line. Without prototyping, these parts and technologies can be dangerous or inefficient for the assembly line. It can also lead to stalled or canceled production runs. Incorporation of new features requires prototyping before final implementation. Thus, the demand for prototyping in automotive engineering services is expected to grow during the forecast period. Many OEMs and automotive engineering service providers have developed new prototyping techniques to scale up their design and development processes. For instance, Tech Mahindra, an Indian automotive service provider, partnered with ServiceNow to collaborate on creating value and scaling through rapid prototyping and development of the next generation codes, no code apps, IoT (Internet of things), and AI/ML (Artificial Intelligence/Machine Learning). According to the European Automobile Manufacturers’ Association (ACEA), Europe’s R&D investment for the automotive industry was the highest in 2019 compared to Japan and the US. Increasing R&D investment in this region is expected to drive the market for automotive engineering services during the forecast period. Volkswagen unveiled a fully electric SUV, the ID. ROOMZZ, at the Shanghai Auto Show in 2019. This vehicle is available in China after 2021 and compete against Tesla’s Model X. Upcoming electric SUVs would require new materials and components, which must be prototyped before sending to the production line.

In-house to be the fastest growing segment during the forecast period

The In-house segment is estimated to be larger than the outsource segment during the forecast period. To control the overall vehicle engineering process, OEMs prefer to keep the research and design in-house. Many OEMs have established their in-house teams for automotive software, such as BMW’s Car-IT and Volkswagen’s Car Software, and few other companies are developing long-term partnerships or joint ventures with application software specialists like Audi-Elektrobit. Performing engineering services in-house has many advantages over outsourcing those services such as streamlined communication, improved quality control, faster time to market, ability to address changes in technology, and improved customer satisfaction. This leads to OEMs preferring in-house R&D for major applications, which are developed by them, or with the participation of others. For instance, Alten Group, a French engineering service provider, supported the in-house development of the powertrain of a British car manufacturer. The car manufacturer availed Alten Group’s services to develop a compact, lightweight, and low-emission ICE powertrain. Alten Group assisted the automaker by sending 150 engineers to the UK for the in-house project. Major Asia Pacific companies focus on designing electric vehicles with their own customizations, which enhance the demand for in-house investments. Tata Motors has an in-house software company that designs and develops innovative software for future automobiles. Automotive designing in Europe and North America is also likely to grow during the forecast period. The European company Volkswagen provides in-house car software. The company stated that from January 1, 2020, the Car software service will operate as part of an independent business unit.

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Asia Pacific to be the fastest growing market for automotive engineering services during the forecast period”

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Asia Pacific is estimated to be the fastest-growing market. The growth of the Asia Pacific automotive engineering services market can be attributed to favorable government regulations and the high adoption of electric passenger cars and commercial vehicles. The region has the presence of top outsourcers, such as Great Wall Motor, Tata Motors, Daimler, Volvo, and Groupe PSA. Japan is estimated to be the largest market during the forecast period. Japan plays a vital role in the development of advanced electronic technology in Asia Pacific. With advancements in technologies such as smart components, ADAS and safety solutions, autonomous driving and connectivity solutions, EV powertrains and batteries, and fuel cell technology, the automotive engineering services market in Japan is expected to grow. India is expected to be the fastest-growing market during the forecast period due to the presence of automotive service providers such as Tech Mahindra, L&T Technology Services, and HCL Technologies. These companies offer services such as body engineering, hybrid & electric mobility, infotainment & connectivity, and powertrain engineering to OEMs globally. With the increase in electric passenger and commercial vehicle sales in Asia Pacific, the demand for automotive engineering services, such as simulation, battery development & management, charger testing, and motor controls, is expected to grow.

Key Market Players

The automotive engineering services companies are Capgemini (France), IAV Automotive Engineering (Germany), Tech Mahindra (India), AKKA Technologies (Belgium), and HCL Technologies (India), among others.

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Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting

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Artificial Intelligence

How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024

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HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.

Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.

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Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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Drone Sensor Market Size, Share, Industry Growth & Trends by Sensor Type, Platform (VTOL Type, Fixed Wing Type, Hybrid Type), Application (Navigation, Collision Detection & Avoidance, Data Acquisition, Motion Detection, Power Monitoring), End Users and Region – Global Forecast to 2029
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress Ave.Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/anti-drone-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/anti-drone.asp
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CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review

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CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).

The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
 

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