Automotive Industry Consulting Services Market size was valued at USD 33.6 billion in 2024 and is anticipated to surpass USD 61.8 billion by 2037, registering a CAGR of 5.2% during the forecast timeline i.e. 2025-2037. In 2025, the industry size of automotive industry consulting services is estimated at USD 35.4 billion. Rapid developments pertaining to EVs and autonomous driving is increasingly pushing manufacturers towards consulting firms to navigate diverse market dynamics. For instance, in September 2024, Hyundai Motor and GM announced a partnership centered on clean energy technologies and supply chain efficiency. A non-binding MoU was signed to investigate cooperative initiatives to lower costs and hasten the delivery of new technologies to consumers.
Moreover, the increasing interest in digital transformation and connected vehicles underlines the need for specialized consulting services, turning this market into a crucial part of evolution in the auto-industry. For automakers, software-defined vehicles provide substantial advantages over distributed vehicle architecture. Software-defined vehicles are opening up opportunities in foreseeable future, setting the stage for the future of mobility. For instance, in February 2024, according to McKinsey & Company, the automotive software business is expected to grow from USD 31 billion in 2018 to USD 80 billion in 2030, more than doubling in size.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
5.2% |
Base Year Market Size (2024) |
USD 33.6 billion |
Forecast Year Market Size (2037) |
USD 61.8 billion |
Regional Scope |
|
Enterprise size (Large enterprise, SME)
Based on enterprise size, large enterprise segment is anticipated to capture over 66.5% automotive industry consulting services market share by 2037. To handle their intricate requirements and wide-ranging operations, large automotive companies need specialized consulting services. In order to improve efficiency, stay competitive, and streamline operations, they are putting more emphasis on complete digital transformation.
Moreover, incorporating cutting-edge technologies such as artificial intelligence (AI), the Internet of Things (IoT), cloud computing, and data analytics assist in upscaling large enterprises. For instance, in June 2024, IBM AI assistants helped enterprises adopt AI, in order to modernize business operations. By enabling self-service actions, offloading repetitive tasks, changing the way IBM works, and offering guidance on completing end-to-end processes, this integration helped increase productivity.
Service (Operations & strategy, Mergers & acquisitions, Supply chain strategy, ESG Technology, Customer strategy)
The supply chain strategy segment is anticipated to capture a significant share in the automotive industry consulting services market by 2037. Through supply chain optimization, companies can increase resilience, cut costs, and improve efficiency with the assistance of consulting firms. For instance, in August 2024, Capgemini introduced a new approach named the Connected Enterprise approach to provide businesses with the flexibility and data insights to adjust to market changes. It served as the key to achieving resilient, long-lasting, and sustainable business outcomes.
Organizations are focusing on the development and implementation of smart, future-ready supply chain networks. This motivates them to establish connections with partners in order to improve ecosystems, expand growth opportunities, and promote greater cooperation and customer insights. Hence, these interconnected ecosystems give supply chains additional security layers, displacing single-source supplier models and creating more robust, end-to-end resilience throughout the supply chain network.
Our in-depth analysis of the global market includes the following segments:
Enterprise Size |
|
Service |
|
End user |
|
Asia Pacific Market Statistics
Asia Pacific in automotive industry consulting services market is expected to hold over 42% revenue share by the end of 2037. The trend toward greener automotive solutions is being driven by growing consumer demand for sustainability and regulatory pressures. This includes the advancement of hydrogen fuel cells, electric vehicles, and sustainable manufacturing techniques, which has led automakers to seek professional consultation on coping with these developments. Moreover, the increasing interest in digital transformation and connected vehicles underlines the need for specialized consulting services, turning this market into a crucial part of the evolution of the auto industry.
The automotive industry consulting services market in India has high prospects of growth owing to the increasing demand for electric vehicles, advanced technologies in manufacturing process, and sustainability. For instance, in February 2021, Tata Consultancy Services established a neural automotive and industrial experience center in Troy, Michigan. It aimed to assist clients to evaluate their companies and boosting innovation. An automotive garage equipped with the newest technology which allows clients and partners to test ideas, collaborate on projects, create prototypes, and promptly introduce solutions.
In China, the market is surging as well as transforming at a steady pace, with a strong national push on electric vehicles and smart mobility. Companies in the country are collaborating and leveraging their competence in assisting businesses to flourish. For instance, in June 2024, a BYD united with Karamba Security to utilize cyber security software from Karamba. It helped in detecting supply chain security vulnerabilities to safeguard its networked automobiles.
North America Market Analysis
The growing innovation in autonomous vehicle technology in the automotive industry consulting services market has brought about a number of consultancies on regulatory compliance and innovation strategy. In the foregone years, there has been a surge in interest in making companies more environmentally friendly and carbon-responsive. Consultants in the region assist businesses in their transition into greener ventures. Thus, North America is a fast-moving market in which consultancy services are essential for automobile firms to keep abreast with faster technological changes and changed consumer behavior.
The U.S. automotive industry consulting services market is focused on engaging with traditional manufacturers as well as new entrants to seek strategies related to shifting consumer preferences and regulatory pressures. For instance, General Motors' (GM) multibillion-dollar investment in developing an electric vehicle (EV) battery supply chain relies heavily on its ability to quickly adapt to new technologies that lower the cost, improve sustainability, and increase battery efficiency. It is further projected to expand the battery manufacturing facility in the U.S. to boost the growth of automotive in the country.
In Canada, with renewed commitment by the local government to reduce carbon emissions, there's an ever-expanding demand for consulting services. For example, it was announced that in March 2022, the federal government's strategy to achieve a substantial reduction in emissions outlines the 2030 Emissions Reduction Plan. It provides a roadmap to pave a path towards achieving net zero emissions by 2050 by reducing emissions by 40–45% by 2030. This helps automotive companies get their approach together with new standards of the environment and those of society at large.
Using the deep experience and skillsets, the companies in automotive industry consulting services are growing innovative in meeting the needs of market. The competitive landscape of automotive industry with consulting firms encourages synergized ecosystem. For instance, in March 2024, Accenture purchased Flo Group. Its IT specialists and consultants assist customers in putting Oracle-based supply chain systems, such as supply chain management, warehouse management, and transportation management, into place.
Here’s the list of prominent companies in the market:
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?