Automotive Industry Consulting Services Market Size - By Service (Operations & Strategy, Mergers & Acquisitions, Supply Chain Strategy, ESG, Technology, Customer Strategy), By Enterprise Size (Large Enterprise, SMEs), By End User & Forecast, 2024 - 2032

Automotive Industry Consulting Services Market Size - By Service (Operations & Strategy, Mergers & Acquisitions, Supply Chain Strategy, ESG, Technology, Customer Strategy), By Enterprise Size (Large Enterprise, SMEs), By End User & Forecast, 2024 - 2032

Automotive Industry Consulting Services Market Size

Automotive Industry Consulting Services Market size was valued at USD 31.9 billion in 2023 and is estimated to register a CAGR of over 5% between 2024 and 2032. The automotive sector is experiencing rapid technological advancements, including adopting Electric Vehicles (EVs), autonomous driving technology, and connected car solutions. These innovations necessitate consulting services to help companies integrate new technologies, manage data, and comply with regulations.

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In June 2023, Accenture and Stellantis announced a collaboration to accelerate Stellantis’ software development and transformation into a sustainable mobility tech company. This includes leveraging cloud technologies and AI to enhance connected car services and other digital innovations.

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Increasing regulatory pressures and consumer demand for sustainability are driving the shift toward greener automotive solutions. This includes the development of EVs, hydrogen fuel cells, and sustainable manufacturing practices, prompting automotive companies to seek expert guidance on navigating these changes. In March 2024, McKinsey & Company published a report highlighting the growing need for consulting services in developing sustainable supply chains and green technologies for automotive manufacturers. This included sustainable practices and expert guidance on navigating regulatory changes.

The automotive supply chain is highly globalized and sensitive to disruptions such as those caused by geopolitical tensions, pandemics, natural disasters, changing global trade policies, and economic conditions. It becomes difficult to manage supply chain disruptions and maintain continuity. The clients in the automotive industry may resist adopting new practices or technologies due to cost concerns, disruption fears, or organizational inertia. It is also challenging to align client expectations with realistic outcomes and timelines.

Automotive Industry Consulting Services Market Trends

Automotive companies are expanding into new markets, including emerging economies. This globalization requires strategic consulting Services to navigate different regulatory environments, local market dynamics, and supply chain challenges. It demonstrates the growing need for specialized consulting services to address the complex challenges and opportunities in the automotive industry. In January 2024, PwC's strategy consulting arm reported on assisting Toyota in expanding its operations in the ASEAN market. It addresses local compliance and market strategy.

The automotive industry is witnessing increased merger & acquisition activities as companies seek to consolidate, acquire new technologies, or enter new markets. Consulting services are critical in facilitating these transactions, including due diligence, integration planning, and regulatory approval. In February 2024, Bain & Company provided consulting support for the merger between Magna International Inc. and Continental AG automotive suppliers. It focused on integration and operational efficiency.

Automotive Industry Consulting Services Market Analysis

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Based on service, the market is divided into operations & strategy, mergers & acquisitions, supply chain strategy, ESG, technology, and customer strategy. The supply chain strategy segment accounted for a market share of over 11% in 2023. Consulting firms help automotive companies optimize their supply chains to improve efficiency, reduce costs, and enhance resilience.

The automotive supply chain has faced disruptions due to geopolitical tensions, pandemics, and natural disasters. Consulting services are in high demand to develop resilient supply chain strategies to mitigate these risks and ensure continuity. In April 2024, Ernst & Young released a report outlining strategies to enhance supply chain resilience in the automotive sector. It included the need for multi-sourcing, regional diversification, and enhanced risk assessment frameworks.

Advanced supply chain analytics and predictive modeling are increasingly used to optimize supply chains. These technologies enable better demand forecasting, inventory management, and risk mitigation. Consulting firms help automotive companies implement these advanced tools. In May 2024, IBM published a white paper on its collaboration with Bosch to implement predictive analytics for inventory optimization. It resulted in reduced stockouts and improved supply chain efficiency.

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Based on enterprise size, the automotive industry consulting services market is categorized into large enterprises and SMEs. The large enterprise is expected to hold over USD 32 billion by 2032. Large enterprises in the automotive sector require specialized consulting services to address their complex needs and extensive operations. They are increasingly focused on comprehensive digital transformation to streamline operations, enhance efficiency, and remain competitive. This includes adopting advanced technologies across their value chains, such as AI, IoT, cloud computing, and data analytics.

In April 2024, IBM and General Motors collaborated on a major digital transformation project. IBM's consulting service helped the automaker integrate AI-driven analytics to improve production efficiency and customer experience.

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Asia Pacific had a significant share of the automotive industry consulting services market with around 42% in 2023. The North American market is experiencing increased regulatory scrutiny around emissions, safety, and environmental, social, and governance criteria. Consulting firms are helping automotive companies navigate these regulations, implement ESG practices, and prepare for future regulatory changes. In February 2024, PwC published a white paper on the challenges and opportunities of ESG compliance for North American automakers. It provided guidelines for aligning business practices with regulatory requirements and stakeholder expectations.

North America, particularly the U.S. and Canada, is rapidly advancing in the adoption of electric vehicles. Consulting services are in high demand to assist automotive companies with the transition to EV manufacturing, infrastructure development, and compliance with emerging regulations. In May 2024, McKinsey & Company published a report detailing the growing demand for consulting services related to the EV transition in North America. The report highlighted strategies for scaling EV production, developing charging infrastructure, and navigating regulatory frameworks.

In the European region, countries such as Germany, France, the UK, and Spain, the automotive industry consulting services market is influenced by regulatory changes, technological advancements, and market dynamics. Automakers are forging strategic partnerships and alliances to accelerate innovations and market expansion. Consulting firms provide expertise in partnership strategy, due diligence, and integration to maximize synergies.

APAC countries, such as China, India, Japan, South Korea, Indonesia, and Thailand, are witnessing rapid growth in electric vehicle adoption supported by government incentives and environmental regulations. Consulting firms are crucial in advising automotive companies on EV strategy, manufacturing, and infrastructure development. In March 2024, Frost & Sullivan published a report on the EV market in APAC. It highlighted the consulting demand for EV manufacturing setup and charging infrastructure expansion in countries such as China and Japan.

Automotive Industry Consulting Services Market Share

McKinsey & Co. and PwC dominate the market with around 4% market share. McKinsey & Company provides strategic advice and thought leadership to address the sector's evolving challenges and opportunities. It is involved in areas, such as electric vehicle adoption, digital transformation, and market strategy, highlighting its impact on shaping the future of the automotive industry. The company’s insights are highly valued in the industry due to its extensive research capabilities and global presence.

PwC offers strategic advice and practical solutions to address the sector's evolving challenges. It offers consulting services to help automakers navigate technological disruptions and develop future-proof strategies. The company also helps automakers understand changing consumer demands and develop new business models such as car-sharing and subscription services. It offers guidance on navigating environmental regulations and ensuring compliance across global markets.

Automotive Industry Consulting Services Market Companies

Major players operating in the automotive industry consulting services industry are

• Accenture
• BAIN & Company
• BCG
• Deloitte
• EY
• KPMG
• L.E.K. Consulting
• McKinsey & Co.
• PwC

Automotive Industry Consulting Services Industry News

• In April 2024, McKinsey highlighted the rapid growth in the battery cell component market in Europe and North America. This market expansion presents a significant opportunity for companies to capitalize on the increasing demand for EV components. The company offers consulting services across the EV ecosystem, from battery technology and charging infrastructure to consumer adoption strategies.
• In March 2024, Boston Consulting Group released a report detailing strategies for implementing green supply chains in the automotive industry. It aimed toward sourcing carbon footprint reduction sustainable materials and eco-friendly logistics.

The automotive industry consulting services market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2021 to 2032, for the following segments

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Market, By Service

• Operations & strategy
• Mergers & acquisitions
• Supply chain strategy
• ESG
• Technology
• Customer strategy

Market, By Enterprise Size

• Large enterprise
• SMEs

Market, By End User

• Automotive manufacturers
  • Operations & strategy
  • Mergers & acquisitions
  • Supply chain strategy
  • ESG
  • Technology
  • Customer strategy
• Suppliers
  • Operations & strategy
  • Mergers & acquisitions
  • Supply chain strategy
  • ESG
  • Technology
  • Customer strategy
• Automotive retailers
  • Operations & strategy
  • Mergers & acquisitions
  • Supply chain strategy
  • ESG
  • Technology
  • Customer strategy
• Technology providers
  • Operations & strategy
  • Mergers & acquisitions
  • Supply chain strategy
  • ESG
  • Technology
  • Customer strategy

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • UAE
  • South Africa
  • Saudi Arabia
  • Rest of MEA