Automotive Research & Development Services Industry 2019
R&D for advanced tech in automotive industry
Scope of the Report:
This report studies the Automotive Research & Development Services market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Automotive Research & Development Services market by product type and applications/end industries.
The growth of automotive R&D services is backed on growing urbanization and growing demand for advance technology systems in automobiles. Customers demand of vehicle safety, quality, reliability and utility are at an all-time high due to this the industry needs to maintain their products and have started investing in the research and development areas.
The global Automotive Research & Development Services market is valued at xx million USD in 2017 and is expected to reach xx million USD by the end of 2023, growing at a CAGR of xx% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
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North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Automotive Research & Development Services.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
Market Segment by Companies, this report covers
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Body & Main Parts
Electronics & Electrical
Powertrain & Chassis
Market Segment by Applications, can be divided into
The automotive industry includes a range of organizations and companies involved in development, design, marketing, manufacturing, and selling of motor vehicles. The automotive sector is one of the world’s largest economic sectors in terms of revenue. It is likely to evolve at a rapid pace in the foreseeable future, with a change in customer sentiment, digital technology, and economic health playing an integral role in the evolution.
The automotive industry is diverse and ranges from OEMs and component manufacturers to commercial vehicle manufacturers and dealerships. The industry has the growth potential from the booming domestic and manufacturing markets in Russia, Brazil, China, and India, and other developing economies, to R&D of greener vehicle and fuels. The revenue for the automotive industry is likely to accelerate due to the improved economic conditions. The industry demand has also been lifted by improvements made on the technological front, in terms of entertainment and autonomous driving capabilities, and fuel efficiency. Manufacturers are highly emphasizing on increasing fuel efficiency due to consumer demand and strict government norms. With improved internet connectivity, better navigation systems, and advancements in safety features, the industry is gaining impetus.
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