The automotive testing, inspection, and certification (TIC) are vital steps in the success of the automotive manufacturers and suppliers. The increasing preference for safety and quality is a crucial factor in driving market growth. Also, the automotive industry is required to fulfill specific criteria and abide by national and international standards and safety mandates. The increasing production of electric and hybrid electric vehicles creates lucrative opportunities for the players active in the automotive TIC market during the forecast period.
MARKET DYNAMICS
The automotive TIC market is projected to grow at a decent rate during the forecast period due to increasing instances of vehicle recall arising from component failure coupled with strict regulatory standards. Furthermore, increasing inclination towards the outsourcing of these services is expected to fuel the growth of the automotive TIC market. However, varying standards across regions is a restraining factor for the market growth. Nonetheless, the adoption of electric and hybrid vehicles is further expected to increase the growth of the automotive TIC market in the coming years.
MARKET SCOPE
The "Global Automotive TIC Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of automotive TIC market with detailed market segmentation by service, sourcing, application, and geography. The global automotive TIC market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive TIC market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global automotive TIC market is segmented on the basis of service, sourcing, and application. Based on service, the market is segmented as testing, inspection, certification, and others. On the basis of the sourcing, the market is segmented as outsourced and in-house. The market on the basis of the application is classified as telematics, electrical systems and components, interior and exterior materials and components, homologation testing, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global automotive TIC market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The automotive TIC market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting automotive TIC market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the automotive TIC market in these regions.
MARKET PLAYERS
The reports cover key developments in the automotive TIC market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from automotive TIC market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive TIC in the global market. Below mentioned is the list of few companies engaged in the automotive TIC market.
The report also includes the profiles of key automotive TIC companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years
- Applus Services SA
- Bureau Veritas Group
- DEKRA SE
- Element Materials Technology
- Eurofins Scientific
- Intertek Group plc
- SGS SA
- TÜV NORD GROUP
- TÜV Rheinland AG
- TÜV SÜD AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.