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HOME Top Market Reports Automotive TIC Market by Service Type (Testing, Inspection, and Certification), Sourcing Type (In-House and Outsourced), Application (Vehicle Inspection Services, Telematics, and Electrical Systems and Components), and Geography - Global Forecast to 2023

Automotive TIC Market by Service Type (Testing, Inspection, and Certification), Sourcing Type (In-House and Outsourced), Application (Vehicle Inspection Services, Telematics, and Electrical Systems and Components), and Geography - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: July 2018
Report Code: SE 6416

 

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[175 Pages Report] The automotive TIC market is expected to increase from USD 18.13 billion in 2017 to USD 27.66 billion by 2023, at a CAGR of 7.23% from 2018 to 2023.

Major objectives of the study are as follows:

  • To define, describe, and forecast the automotive TIC market by service type, sourcing type, application, and geography
  • To describe focus areas of TIC services in automotive applications
  • To forecast the automotive TIC market (for concerned segments in terms of value) in North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information about the major influencing factors affecting the growth of the automotive TIC market (drivers, restraints, opportunities, and challenges)
  • To analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
  • To study the complete value chain and allied industry segments of the automotive TIC landscape
  • To analyze market opportunities for various stakeholders by identifying the high-growth segments of the automotive TIC market
  • To profile key players and comprehensively analyze their market positions in terms of ranking and core competencies along with detailing the competitive landscape for the market leaders
  • To analyze competitive developments, such as mergers and acquisitions, expansions, product and service launches, partnerships, contracts, and agreements in the automotive TIC market

Major players of the automotive TIC ecosystem in various regions have been identified and their offerings, regional presence, and distribution channels have been understood through the in-depth discussions for this study. To find the overall market size, top-down and bottom-up approaches have been used to estimate the market size of other individual markets by using percentage splits obtained from the secondary sources, such as Hoovers, Bloomberg Business, Factiva, and OneSource, as well as primary research. The entire procedure included the study of annual and financial reports of the top market players and extensive interview with industry leaders, such as CEOs, VPs, directors, and marketing executives, for key insights (both qualitative and quantitative) pertaining to the market. The following figure shows the breakdown of the primaries conducted during the research on the basis of company size, designation, and region.

Automotive TIC Market

To know about the assumptions considered for the study, download the pdf brochure

The automotive TIC ecosystem comprises companies offering testing, inspection, and certification services, network of regulatory bodies, accreditation and standards organizations, third-party service providers, and research and development (R&D) institutions. DEKRA SE and TάV SάD Group are the top-ranked service providers in the automotive TIC market. Prominent companies in the automotive TIC market include the well-established, financially stable, and technically strong players that have been operating in the industry for several years and have diversified service portfolios, proprietary technologies, and strong distribution networks through mergers and acquisitions.

Target Audience:

  • Raw material and testing equipment suppliers
  • Research organizations
  • Original equipment manufacturers (OEMs)
  • Technology standards organizations, forums, alliances, and associations
  • Technology investors
  • Analysts and strategic business planners
  • Government bodies, venture capitalists, and private equity firms
  • End users curious to know more about automotive TIC and the latest standards in the automotive TIC market

Report Scope:

Automotive TIC Market, by Service Type:  

  • Testing Services
  • Inspection Services
  • Certification Services
  • Other Services

Automotive TIC Market, by Sourcing Type:

  • In-House
  • Outsourced

Automotive TIC Market, by Application:

  • Electrical Systems and Components
  • Electric Vehicles, Hybrid Electric Vehicles, and Battery Systems
  • Telematics
  • Fuels, Fluids, and Lubricants
  • Interior & Exterior Materials and Components
  • Vehicle Inspection Services
  • Homologation Testing
  • Other Applications

Automotive TIC Market, by Geography:

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the client’s specific needs. The following customization options are available for this report:

  • Geographic analysis: further analysis of the automotive TIC market by country
  • Company information: detailed analysis and profiling of additional market players (up to 5)

Please click here to get the relevant report of Testing, Inspection, and Certification (TIC) Market by Service Type (Testing, Inspection, Certification), Sourcing Type (In-house and Outsourced), Application (Consumer Goods & Retail, Agriculture & Food, Chemicals), and Geography - Global Forecast to 2023



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Table of Contents

1 Introduction (Page No. - 17)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered for Study
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Automotive TIC Market
    4.2 Automotive TIC Market, By Service Type
    4.3 Automotive TIC Market, By Sourcing Type
    4.4 Automotive TIC Market, By Application
    4.5 Automotive TIC Market, By Application & By Region
    4.6 Automotive TIC Market, By Country

5 Market Overview (Page No. - 39)
    5.1 Introduction
    5.2 Value Chain Analysis
    5.3 Core Industry Segments for Automotive TIC Market
           5.3.1 TIC Standards and Regulatory Bodies
           5.3.2 Companies Offering Automotive TIC Services
           5.3.3 Major Applications of Automotive TIC
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Increasing Automotive Production Worldwide
                    5.4.1.2 Outsourcing Tendencies in TIC Services Market
                    5.4.1.3 Stringent Regulations and Standards in Automotive Industry
                    5.4.1.4 Growing Trend of Electronic Systems Adoption in the Automotive Industry
                    5.4.1.5 Growing Awareness About Safety Among Consumers
                    5.4.1.6 Increasing Instances of Vehicle Recall Due to Components Failures
           5.4.2 Restraints
                    5.4.2.1 Varying Regulations/Standards Across Regions
           5.4.3 Opportunities
                    5.4.3.1 Growth Opportunities for Small and Mid-Sized Businesses in the TIC Ecosystem
                    5.4.3.2 Growth of Electric Vehicles (EVS) and Hybrid Vehicles Market
           5.4.4 Challenges
                    5.4.4.1 Long Lead Time Required for Overseas Qualification Tests

6 Major Focus Areas for TIC Services in the Automotive Application (Page No. - 49)
    6.1 Introduction
    6.2 Functional Safety
    6.3 Adas and Safety Controller
           6.3.1 Adaptive Cruise Control (ACC)
           6.3.2 Auto Emergency Braking (AEB)
           6.3.3 Lane Departure Warning System (LDWS)
           6.3.4 Tire Pressure Monitoring System (TPMS)
           6.3.5 Pedestrian Warning/Protection System
           6.3.6 Traffic Sign Recognition
           6.3.7 Automotive Night Vision
           6.3.8 Blind Spot Detection
           6.3.9 Driver Drowsiness Detection
           6.3.10 Automatic Parking
           6.3.11 Other Adas and Safety Controllers
    6.4 Cockpit Controller
           6.4.1 Heads-Up Display (HUD)
           6.4.2 Human Machine Interface (HMI)
           6.4.3 Other Cockpit Controllers
    6.5 Chassis and Body Controller

7 Automotive TIC Market, By Service Type (Page No. - 54)
    7.1 Introduction
    7.2 Testing Services
    7.3 Inspection Services
    7.4 Certification Services
    7.5 Other Services

8 Automotive TIC Market, By Sourcing Type (Page No. - 62)
    8.1 Introduction
    8.2 In-House
    8.3 Outsourced

9 Automotive TIC Market, By Application (Page No. - 66)
    9.1 Introduction
    9.2 Electrical Systems and Components
    9.3 Electric Vehicles, Hybrid Electric Vehicles, and Battery Systems
    9.4 Telematics
    9.5 Fuels, Fluids, and Lubricants
    9.6 Interior & Exterior Materials and Components
    9.7 Vehicle Inspection Services
    9.8 Homologation Testing
    9.9 Others

10 Geographic Analysis (Page No. - 102)
     10.1 Introduction
     10.2 North America
             10.2.1 Us
                        10.2.1.1 US Held Largest Share of North American Automotive TIC Market in 2017
                        10.2.1.2 Presence of Major Automobile Manufacturers in the Country
             10.2.2 Canada
                        10.2.2.1 Role of Ontario in Canadian Automotive Industry
             10.2.3 Mexico
                        10.2.3.1 Ranked 8th in World Automotive Production in 2017 By Oica
                        10.2.3.2 Automotive Regulatory Standards in Mexico
     10.3 Europe
             10.3.1 Germany
                        10.3.1.1 Germany’s Automotive Industry Driving Overall TIC Market
             10.3.2 Uk
                        10.3.2.1 Presence of Luxury and Sports Cars Manufacturers
             10.3.3 France
                        10.3.3.1 Country With One of the Strongest Transportation Sectors in Overall TIC Market
             10.3.4 Italy
                        10.3.4.1 Double-Digit Growth in Automotive Production in 2017
             10.3.5 Spain
                        10.3.5.1 Second-Largest Automotive Manufacturer in Europe in 2017
             10.3.6 Rest of Europe (RoE)
                        10.3.6.1 Russia Plays A Major Role in European Automotive Industry
     10.4 Asia Pacific (APAC)
             10.4.1 China
                        10.4.1.1 Producing One-Third of World’s Total Automobiles, China is A Growing Market for TIC Services
             10.4.2 Japan
                        10.4.2.1 Second Largest Country in Global Automobile Production in 2017
             10.4.3 India
                        10.4.3.1 Government Incentives Likely to Drive Demand for TIC Services
             10.4.4 South Korea
                        10.4.4.1 Home to Major Automotive Companies
             10.4.5 Australia
                        10.4.5.1 Expert in In-House Car Manufacturing and Assembling, in Large Volumes
             10.4.6 Rest of APAC
                        10.4.6.1 Improved Living Standards and Rising Per Capita Income Likely to Drive Automotive TIC Market in RoAPAC
     10.5 Rest of the World (RoW)
             10.5.1 South America
                        10.5.1.1 Brazil is One of the Fastest-Growing Economies in the World
             10.5.2 Middle East & Africa
                        10.5.2.1 Iran and South Africa are Two Major Contributors in the Automotive TIC Market

11 Competitive Landscape (Page No. - 118)
     11.1 Overview
     11.2 Market Ranking Analysis
     11.3 Competitive Scenario
             11.3.1 Mergers & Acquisitions
             11.3.2 Expansions
             11.3.3 Product and Service Launch
             11.3.4 Partnership, Agreement, and Contract
             11.3.5 Other Developments

12 Company Profiles (Page No. - 125)
(Business Overview, Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 Key Players
             12.1.1 Dekra Se
             12.1.2 TUV SUD Group
             12.1.3 Applus Services S.A.
             12.1.4 SGS Group
             12.1.5 TUV Nord Group
             12.1.6 TUV Rheinland AG Group
             12.1.7 Bureau Veritas S.A.
             12.1.8 Intertek Group PLC
             12.1.9 Eurofins Scientific
             12.1.10 Element Materials Technology
             12.1.11 Lloyd’s Register Group Limited
             12.1.12 Mistras Group, Inc.
             12.1.13 UL LLC
             12.1.14 DNV GL Group As
             12.1.15 Sai Global Pty Limited
     12.2 Other Key Companies
             12.2.1 British Standards Institution (BSI)
             12.2.2 Rina S.P.A.
             12.2.3 Norges Elektriske Materiellkontroll (NEMKO)
             12.2.4 NSF International
             12.2.5 Engineering, Quality, and Safety (EQS)

*Details on Business Overview, Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 167)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports
     13.7 Author Details


List of Tables (80 Tables)

Table 1 Study Assumptions
Table 2 Limitations of the Study
Table 3 Comparison of Major Motor Vehicle Regulations in the US and the Eu
Table 4 Timeline for Regulatory Safety Technologies in the US and Europe (1980–2018)
Table 5 Automotive TIC Market, By Service Type, 2015–2023 (USD Billion)
Table 6 Automotive Testing Market, By Application, 2015–2023 (USD Million)
Table 7 Automotive Inspection Market, By Application, 2015–2023 (USD Million)
Table 8 Automotive Certification Market, By Application, 2015–2023 (USD Million)
Table 9 Other Automotive Services Market, By Application, 2015–2023 (USD Million)
Table 10 Automotive TIC Market, By Sourcing Type, 2015–2023 (USD Billion)
Table 11 In-House Automotive TIC Market, By Application, 2015–2023 (USD Million)
Table 12 Outsourced Automotive TIC Market, By Application, 2015–2023 (USD Million)
Table 13 Automotive TIC Market, By Application, 2014–2022 (USD Billion)
Table 14 Market for Electrical Systems and Components, By Service Type, 2015–2023 (USD Million)
Table 15 Market for Electrical Systems and Components, By Sourcing Type, 2015–2023 (USD Million)
Table 16 Market for Electrical Systems and Components, By Region, 2015–2023 (USD Million)
Table 17 Market for Electrical Systems and Components in North America, By Country, 2015–2023 (USD Million)
Table 18 Market for Electrical Systems and Components in Europe, By Country, 2015–2023 (USD Million)
Table 19 Market for Electrical Systems and Components in APAC, By Country, 2015–2023 (USD Million)
Table 20 Market for Electrical Systems and Components in RoW, By Region, 2015–2023 (USD Million)
Table 21 Market for Electric Vehicle, Hybrid Electric Vehicle, and Battery Systems, By Service Type, 2015–2023 (USD Million)
Table 22 Market for Electric Vehicle, Hybrid Electric Vehicle, and Battery Systems, By Sourcing Type, 2015–2023 (USD Million)
Table 23 Market for Electric Vehicle, Hybrid Electric Vehicle, and Battery Systems, By Region, 2015–2023 (USD Million)
Table 24 Market for Electric Vehicle, Hybrid Electric Vehicle, and Battery Systems in North America, By Country, 2015–2023 (USD Million)
Table 25 Market for Electric Vehicle, Hybrid Electric Vehicle, and Battery Systems in Europe, By Country, 2015–2023 (USD Million)
Table 26 Market for Electric Vehicle, Hybrid Electric Vehicle, and Battery Systems in APAC, By Country, 2015–2023 (USD Million)
Table 27 Market for Electric Vehicle, Hybrid Electric Vehicle, and Battery Systems in RoW, By Region, 2015–2023 (USD Million)
Table 28 Market for Telematics, By Service Type, 2015–2023 (USD Million)
Table 29 Market for Telematics, By Sourcing Type, 2015–2023 (USD Million)
Table 30 Market for Telematics, By Region, 2015–2023 (USD Million)
Table 31 Market for Telematics in North America, By Country, 2015–2023 (USD Million)
Table 32 Market for Telematics in Europe, By Country, 2015–2023 (USD Million)
Table 33 Market for Telematics in APAC, By Country, 2015–2023 (USD Million)
Table 34 Market for Telematics in RoW, By Region, 2015–2023 (USD Million)
Table 35 Market for Fuels, Fluids, and Lubricants, By Service Type, 2015–2023 (USD Million)
Table 36 Market for Fuels, Fluids, and Lubricants, By Sourcing Type, 2015–2023 (USD Million)
Table 37 Market for Fuels, Fluids, and Lubricants, By Region, 2015–2023 (USD Million)
Table 38 Market for Fuels, Fluids, and Lubricants in North America, By Country, 2015–2023 (USD Million)
Table 39 Market for Fuels, Fluids, and Lubricants in Europe, By Country, 2015–2023 (USD Million)
Table 40 Market for Fuels, Fluids, and Lubricants in APAC, By Country, 2015–2023 (USD Million)
Table 41 Market for Fuels, Fluids, and Lubricants in RoW, By Region, 2015–2023 (USD Million)
Table 42 Market for Interior & Exterior Materials and Components, By Service Type, 2015–2023 (USD Million)
Table 43 Market for Interior & Exterior Materials and Components, By Sourcing Type, 2015–2023 (USD Million)
Table 44 Market for Interior & Exterior Materials and Components, By Region, 2015–2023 (USD Million)
Table 45 Market for Interior & Exterior Materials and Components in North America, By Country, 2015–2023 (USD Million)
Table 46 Market for Interior & Exterior Materials and Components in Europe, By Country, 2015–2023 (USD Million)
Table 47 Market for Interior & Exterior Materials and Components in APAC, By Country, 2015–2023 (USD Million)
Table 48 Market for Interior & Exterior Materials and Components in RoW, By Region, 2015–2023 (USD Million)
Table 49 Market for Vehicle Inspection Services, By Service Type, 2015–2023 (USD Million)
Table 50 Market for Vehicle Inspection Services, By Sourcing Type, 2015–2023 (USD Million)
Table 51 Market for Vehicle Inspection Services, By Region, 2015–2023 (USD Million)
Table 52 Market for Vehicle Inspection Services in North America, By Country, 2015–2023 (USD Million)
Table 53 Market for Vehicle Inspection Services in Europe, By Country, 2015–2023 (USD Million)
Table 54 Market for Vehicle Inspection Services in APAC, By Country, 2015–2023 (USD Million)
Table 55 Market for Vehicle Inspection Services in RoW, By Region, 2015–2023 (USD Million)
Table 56 Market for Homologation Testing, By Service Type, 2015–2023 (USD Million)
Table 57 Market for Homologation Testing, By Sourcing Type, 2015–2023 (USD Million)
Table 58 Market for Homologation Testing, By Region, 2015–2023 (USD Million)
Table 59 Market for Homologation Testing in North America, By Country, 2015–2023 (USD Million)
Table 60 Market for Homologation Testing in Europe, By Country, 2015–2023 (USD Million)
Table 61 Market for Homologation Testing in APAC, By Country, 2015–2023 (USD Million)
Table 62 Market for Homologation Testing in RoW, By Region, 2015–2023 (USD Million)
Table 63 Market for Other Applications, By Service Type, 2015–2023 (USD Million)
Table 64 Market for Other Applications, By Sourcing Type, 2015–2023 (USD Million)
Table 65 Market for Other Applications, By Region, 2015–2023 (USD Million)
Table 66 Market for Other Applications in North America, By Country, 2015–2023 (USD Million)
Table 67 Market for Other Applications in Europe, By Country, 2015–2023 (USD Million)
Table 68 Market for Other Applications in APAC, By Country, 2015–2023 (USD Million)
Table 69 Market for Other Applications in RoW, By Region, 2015–2023 (USD Million)
Table 70 Market, By Region, 2015-2023 (USD Billion)
Table 71 Market in North America, By Country, 2015–2023 (USD Million)
Table 72 Market in Europe, By Geography, 2015–2023 (USD Million)
Table 73 Market in APAC, By Geography, 2015–2023 (USD Million)
Table 74 Market in RoW, By Region, 2015–2023 (USD Million)
Table 75 Market Ranking Analysis - Automotive TIC Market (2017)
Table 76 Mergers & Acquisitions (2014–2018)
Table 77 Expansions (2014–2017)
Table 78 Product and Service Launch (2015–2017)
Table 79 Partnership, Agreement, and Contract (2014–2018)
Table 80 Other Developments (2014–2017)


List of Figures (53 Figures)

Figure 1 Automotive TIC Market Segmentation
Figure 2 Automotive TIC Market: Process Flow of Market Size Estimation
Figure 3 Automotive TIC Market: Research Design
Figure 4 Data Triangulation Methodology
Figure 5 Automotive TIC Market Scenario (2015–2023)
Figure 6 Automotive TIC Market, By Service Type, 2018–2023
Figure 7 Automotive TIC Market, By Sourcing Type, 2018–2023
Figure 8 Automotive TIC Market, By Application, 2018–2023
Figure 9 Automotive TIC Market, By Region, 2018
Figure 10 Growing Automotive Production to Boost Growth of the Automotive TIC Services Between 2018 and 2023
Figure 11 Testing Services to Hold Largest Share of Automotive TIC Market During Forecast Period
Figure 12 Outsourced Automotive TIC Market to Grow at A Higher CAGR Between 2018 and 2023
Figure 13 Vehicle Inspection Services Application to Hold Largest Share of Automotive TIC Market During Forecast Period
Figure 14 Vehicle Inspection Services Held Largest Share of the Automotive TIC Market in 2017
Figure 15 Attractive Opportunities for APAC Automotive TIC Players in Applications During Forecast Period
Figure 16 Automotive TIC Market in India to Grow at Highest CAGR During Forecast Period
Figure 17 Value Chain: Automotive TIC Market
Figure 18 Market Dynamics: Overview
Figure 19 Global Vehicle Production, 2013–2017 (Million Units)
Figure 20 Global Sales of Vehicles, By Region, 2010–2016 (Million Units)
Figure 21 ECU Consolidation in Automotive Electronics: Today (2018) V/S Tomorrow
Figure 22 Certification Services to Grow at Highest CAGR During Forecast Period
Figure 23 Vehicle Inspection Services Application to Hold Largest Share of Automotive Certification Market During Forecast Period
Figure 24 In-House Sourcing Type to Hold Larger Share of Automotive TIC Market Between 2018 and 2023
Figure 25 Vehicle Inspection Services Expected to Have Largest Market Size During Forecast Period
Figure 26 Italy to Grow at Highest CAGR in the European Market for Electrical Systems and Components During the Forecast Period
Figure 27 APAC Held Largest Share of the Electric Vehicle, Hybrid Electric Vehicle, and Battery Systems Application Market Between2018 and 2023
Figure 28 Testing Services Held Largest Share of the Market for Telematics Application During the Forecast Period
Figure 29 India to Grow at Highest CAGR in APAC Market for Telematics Between 2018 and 2023
Figure 30 China to Hold Lion’s Share in APAC Market for Fuels, Fluids, and Lubricants Application Between 2018 and 2023
Figure 31 Italy to Witness Maximum Growth in the European Market for Interior & Exterior Materials and Components During the Forecast Period
Figure 32 US Likely to Lead North American Market for Vehicle Inspection Services During Forecast Period
Figure 33 Testing Services Held Largest Share of the Market for Homologation Testing Application During the Forecast Period
Figure 34 Automotive TIC Market in APAC Likely to Grow at Highest CAGR for Other Applications Between 2018 and 2023
Figure 35 Geographic Snapshot: India to Witness Maximum Growth Between 2018 and 2023
Figure 36 Automotive TIC Market Geographic Snapshot of North America, 2017
Figure 37 Geographic Snapshot of European Automotive TIC Market, 2017
Figure 38 Geographic Snapshot of Automotive TIC Market in APAC, 2017
Figure 39 South America to Hold Larger Size of Automotive TIC Market in RoW Throughout Forecast Period
Figure 40 Companies Adopted Mergers & Acquisitions as Key Growth Strategy Between 2014 and 2018
Figure 41 Dekra Se: Company Snapshot
Figure 42 TUV SUD Group: Company Snapshot
Figure 43 Applus Services S.A.: Company Snapshot
Figure 44 SGS Group: Company Snapshot
Figure 45 TUV Nord Group: Company Snapshot
Figure 46 TUV Rheinland AG Group: Company Snapshot
Figure 47 Bureau Veritas Sa: Company Snapshot
Figure 48 Intertek Group PLC: Company Snapshot
Figure 49 Eurofins Scientific: Company Snapshot
Figure 50 Lloyd’s Register Group Limited: Company Snapshot
Figure 51 Mistras Group, Inc.: Company Snapshot
Figure 52 DNV GL Group As: Company Snapshot
Figure 53 Sai Global Pty Limited: Company Snapshot

The automotive TIC market is expected to grow from USD 19.51 billion in 2018 to USD 27.66 billion by 2023, at a CAGR of 7.23% from 2018 to 2023. The growth of this market is mainly driven by increasing automotive production worldwide, inclination toward outsourcing TIC services, vehicle recalls due to failure of components, and enforcement of stringent government regulations and standards in the automotive sector worldwide.

Testing services accounted for a share larger than the other TIC services in the automotive TIC market, by service type in 2018. Quality control is very important for automotive manufacturing operations and for additional safety, testing, and reporting measures, which require advanced test equipment and instruments in automotive manufacturing facilities and laboratories. Testing services assist manufacturers in improving the marketability of their products and lowering costs in pre-production phases (R&D, selection of suppliers, etc.). Most of these tests are performed as per standard analytical methodology.

The vehicle inspection service (VIS) application accounted for the largest share of the automotive TIC market, based on application, in 2018. VIS is a pack of bundled services wherein new or used automobile go through a wide range of services such as inspection of electrical systems and components, interior & exterior materials and components, and other applications. VIS is a combination of multiple services, and these services are primarily offered by most TIC service providers, thus holding maximum share in the market during the forecast period.

Asia Pacific (APAC) accounted for the largest share of the automotive TIC, by geography in 2018. The automotive industry is subject to strict safety regulations in a few APAC countries such as Japan and South Korea; demands for passenger cars is also on the rise in these countries. Countries such as China are estimated to come up with vehicle and road safety regulations owing to growing population as well as vehicle demand. Reasons such as limited infrastructure and increasing number of accidents could boost the implementation of safety regulations. Increased production of motor vehicles in countries such as India, China, Japan, and South Korea is significantly contributing towards the growth of the automotive TIC market in the APAC region.

Automotive TIC Market

Varying automotive regulatory standards across countries is the major restraining factor for the growth of the automotive TIC market. DEKRA SE and TάV SάD Group are the top-ranked service providers in the automotive TIC market. These players rely on their diversified service portfolio, global reach, and growth strategies such as expansions, and mergers and acquisitions to hold a large share of the overall automotive TIC market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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