Automotive TIC Market

Automotive TIC Industry - Forthcoming Trends to Fuel the Global Growth

The global automotive TIC market is projected to grow from USD 17.7 billion in 2023 to USD 20.9 billion by 2028, registering a CAGR of 3.4%. The automotive industry is undergoing rapid technological advancements, with the rise of electric vehicles, connected cars, and autonomous driving systems. This has created a need for comprehensive TIC services for new applications arising from these technological advancements, to ensure the safety, quality, and compliance of automotive products and components. The increasing complexity of automotive systems, stringent regulatory standards, and the need for efficient and reliable supply chains have further fueled the demand for TIC services in the automotive sector. TIC services help automotive manufacturers and suppliers meet the industry's requirements, adhere to safety standards, and gain consumer trust.

The automotive TIC industry is undergoing rapid evolution, driven by emerging trends and global forecasts.

Emerging trends in the global Automotive TIC Industry are:

  • Electric and Autonomous Vehicles Testing
  • Regulatory Compliance and Safety Standards
  • Emergence of New Technologies
  • Globalization of Supply Chains
  • Shift towards Digitalization and Data Analytics
  • Focus on Sustainability and Environmental Impact
  • Quality Assurance in Additive Manufacturing
  • Cybersecurity Testing for Connected Vehicles

These emerging trends collectively drive the evolution of the global Automotive TIC industry, shaping its role in ensuring the safety, reliability, and compliance of vehicles and automotive technologies in an ever-changing landscape.

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  • Electric and Autonomous Vehicles Testing: Specialized testing and certification services for electric cars (EVs) are becoming more and more in demand as a result of the growing popularity of EVs and the advancement of autonomous driving technology. In order to provide complete testing solutions for electric drivetrains, EV batteries, autonomous vehicle systems, and related components, automotive TIC firms are growing their capabilities.
     
  • Regulatory Compliance and Safety Standards: Automobile TIC services are becoming more and more necessary due to strict safety requirements and regulations controlling vehicle performance, cybersecurity, and emissions. TIC firms are essential in guaranteeing that automobiles fulfill legal mandates and industry benchmarks concerning security, dependability, and ecological footprint.
     
  • Emergence of New Technologies: With the advent of new technologies like advanced driver assistance systems (ADAS), vehicle-to-everything (V2X) communication, and linked cars, the automotive industry is rapidly changing. In response to these technological developments, automotive TIC firms are providing testing and certification services for these technologies' integration, functionality, and cybersecurity.
     
  • Globalization of Supply Chains: Global supply chains are becoming more and more integrated for automotive manufacturers and suppliers, who get materials and components from various parts of the globe. By doing product testing, supply chain audits, and quality inspections to guarantee compliance with norms and regulations across various markets, automotive TIC firms reassure stakeholders.
     
  • Shift towards Digitalization and Data Analytics: The delivery of automotive TIC services is being revolutionized by digitalization, with a growing focus on automation, data analytics, and remote testing capabilities. To improve the efficacy, precision, and speed of testing procedures, TIC businesses are utilizing digital technologies including artificial intelligence (AI), machine learning (ML), and big data analytics.
     
  • Focus on Sustainability and Environmental Impact: The automobile sector is increasingly prioritizing environmental sustainability, which is increasing demand for TIC services that address vehicle emissions, fuel efficiency, and recyclability. To assist manufacturers in lowering their environmental impact and achieving sustainability targets, automotive technology companies (TICs) are providing green testing solutions.
     
  • Quality Assurance in Additive Manufacturing: The automobile sector is seeing a rise in the use of additive manufacturing, commonly referred to as 3D printing, for complicated component manufacture, tooling, and prototyping. To guarantee the quality, dependability, and safety of 3D-printed car parts, automotive technology companies are intensifying their efforts to become experts in additive manufacturing testing and certification.
     
  • Cybersecurity Testing for Connected Vehicles: The automotive sector is becoming increasingly concerned about cybersecurity as vehicles become more and more linked and dependent on software-driven systems. In an effort to safeguard consumer data privacy and shield automobiles from cyberattacks, automotive TIC businesses are broadening the scope of their services to include cybersecurity certification and testing.

Related Report

Automotive TIC Market Vehicle Type (Passenger Cars, Commercial Vehicles), Service Type (Testing Services, Inspection Services, Certification Services), Sourcing Type (In-House, Outsourced), Application and Region - Global Forecast to 2028

 

Automotive TIC Market Size,  Share & Growth Report
Report Code
AT 8695
RI Published ON
5/8/2024
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