The Business Research Company’s Automotive Engineering Services Global Market Report 2022: Market Size, Trends, And Forecast To 2026
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As per The Business Research Company’s “Automotive Engineering Services Global Market Report 2022”, the automotive engineering services market is predicted to reach a value of $220.9 billion in 2022 at a compound annual growth rate (CAGR) of 10.96%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The automotive engineering services market is expected to reach $336.0 billion in 2026 at a CAGR of 11.06%. The rising demand for emission-less transportation is expected to propel the growth of the automotive engineering services global market.
Key Trends In The Automotive Engineering Services Market
The use of artificial intelligence (AI) in automotive engineering is a key trend gaining popularity. Helpful AI algorithms and controllers aid in providing a realistic driving-range estimation and optimising energy conservation in electric vehicles, allowing for the addition of additional driving range. Artificial intelligence is also at the core of self-driving cars, which are becoming