The global demand for Automotive TIC Market is presumed to reach the market size of nearly USD 26.49 MN by 2028 from USD 17.5 MN in 2021 with a CAGR of 6.1% under the study period 2022 - 2028.
Automotive testing, inspection, and certification (TIC) are critical elements in the success of automakers and suppliers. Automotive TIC refers to the process of testing, inspecting, and certifying cars. These services are provided by either the automaker or a private service provider. The main goal of these services is to measure the standards set by government agencies in separate countries for cars. Testing, Inspection, and Certification (TIC) services are provided in various industries and sectors, with a wide range of standards and legislation. Many industries use this service, including automotive, agricultural, oil and gas, tourism, and logistics.
Market Dynamics
The primary reason fueling the automotive TIC market growth is an increase in automotive sales, including an elevation in the sale of electric vehicles equipped with the most recent technology and an increase in population. The growing use and certification of electric vehicles have produced a tremendous need for the automotive TIC industry. Furthermore, technical improvements in automotive vehicles, like the development of hybrid vehicles, which necessitate testing kits and other inspection-related items, is projected to bolster the automotive TIC industry. In addition, government financing and measures to assist electric car vehicles, and a growing focus on research and development employing advanced technologies like blockchain, AI, and IoT, may present a substantial opportunity for the global automotive TIC market. On the other hand, the automotive TIC industry is impeded by the large initial investment required to set up an inspection and testing facility and the need for highly-skilled personnel to ensure the quality of automobile components and parts.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of automotive tic. The growth and trends of automotive tic industry provide a holistic approach to this study.
Market Segmentation
This section of the automotive tic market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Service Type
- Testing Services
- Inspection Services
- Certification Services
- Other Service
By Sourcing Type
By Application
- Electrical Systems And Components
- Electric Vehicles, Hybrid Electric Vehicles, And Battery Systems
- Telematics
- Fuels, Fluids, And Lubricants
- Interior And Exterior Materials And Components
- Vehicle Inspection Services
- Homologation Testing
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Automotive Tic market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Automotive TIC Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive tic market include DEKRA SE (DEKRA) (Germany), TÜV SÜD Group (TÜV SÜD) (Germany), Applus Services S.A. (Applus+) (Spain), SGS Group (SGS) (Switzerland), TÜV Nord Group (TÜV Nord) (Germany), TÜV Rheinland Group (TÜV Rheinland) (Germany), Bureau Veritas S.A. (Bureau Veritas) (France), Intertek Group PLC (Intertek) (UK), Eurofins Scientific (Eurofins) (Luxembourg), Element Materials Technology (Element) (UK), Lloyd’s Register Group Limited (Lloyd’s) (UK), MISTRAS Group, Inc. (MISTRAS) (US), UL LLC (UL) (US), DNV GL Group AS (DNV) (Norway), British Standards Institution (BSI) (UK), RINA S.p.A (RINA) (Italy), Norges Elektriske Materiellkontroll (Nemko) (Norway), NSF International (NSF) (US), and EQS - Engineering, Quality and Safety (EQS)(Portugal). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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