Automotive TIC Market

Automotive TIC Market Size & Share - Future Growth Expectations

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 Market is poised for substantial growth in the coming years, driven by several key factors:

  • Increasing Complexity of Automotive Technologies
  • Stringent Regulatory Requirements
  • Growing Focus on Vehicle Safety
  • Globalization of Automotive Supply Chains
  • Rise of Electric and Autonomous Vehicles
  • Shift towards Digitalization and Industry 4.0
  • Demand for Sustainable Mobility Solutions
  • Heightened Focus on Cybersecurity

These key factors collectively indicate a promising outlook for the Automotive TIC market, with substantial growth opportunities anticipated in the coming years as the automotive industry continues to innovate and evolve.

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

  • Increasing Complexity of Automotive Technologies: Developments in autonomous driving systems, connectivity, digitization, and electric vehicles (EVs) are propelling the automobile industry's rapid growth. Strong testing, inspection, and certification procedures are required due to the complexity of these technologies in order to guarantee performance, safety, and regulatory compliance.
     
  • Stringent Regulatory Requirements: Stricter laws are being implemented by governments all around the world in the areas of cybersecurity, safety, emissions from vehicles, and environmental sustainability. Automotive TIC services are in high demand since compliance with these rules necessitates extensive testing and certification processes.
     
  • Growing Focus on Vehicle Safety: For car makers, authorities, and consumers alike, safety is paramount. In order to minimize accidents and guarantee passenger protection, there is a greater emphasis on testing and certifying the safety and dependability of advanced driver assistance systems (ADAS) and autonomous driving technologies.
     
  • Globalization of Automotive Supply Chains: Automotive suppliers and manufacturers source materials and components from various areas as part of increasingly globalized supply chains. In order to facilitate trade and market access, automotive TIC services are essential for guaranteeing the quality, dependability, and compliance of automotive products in various markets.
     
  • Rise of Electric and Autonomous Vehicles: The demand for customized testing and certification services for electric cars (EVs) is being driven by the shift to EVs and the advancement of autonomous driving technology. To meet the special needs of EV batteries, electric drivetrains, autonomous vehicle systems, and related components, automotive TIC firms are growing their capabilities.
     
  • Shift towards Digitalization and Industry 4.0: Automation, data analytics, and linked systems are becoming more and more important in the automotive production process, which is being revolutionized by digitalization and Industry 4.0 technology. To suit the changing needs of the industry, automotive test and inspection (TIC) businesses are utilizing digital technology to improve testing efficiency, accuracy, and traceability.
     
  • Demand for Sustainable Mobility Solutions: In the automotive sector, environmental sustainability is increasingly acting as a catalyst for innovation, resulting in the creation of lightweight materials, alternative propulsion systems, and fuel-efficient automobiles. When it comes to evaluating how cars affect the environment and making sure that eco-friendly laws and standards are followed, automotive TIC services are invaluable.
     
  • Heightened Focus on Cybersecurity: The growing connectivity and dependence of automobiles on software-driven systems has made cybersecurity a crucial issue. To assist automakers in protecting their vehicles from cyberattacks and guaranteeing customer privacy, automotive TIC firms are broadening the scope of their services to include cybersecurity testing and certification.

Automotive TIC Market Share - Global Industry Landscape

  • DEKRA SE (Germany)
  • TÜV SÜD (Germany)
  • Applus+ (Spain)
  • SGS Group (Switzerland)
  • TÜV Rheinland AG Group (Germany)

These companies, along with others in the industry, play a vital role in ensuring the safety, quality, and compliance of automotive products and services worldwide. While specific market share figures may fluctuate over time and vary by region, these companies are widely recognized for their expertise and leadership in the automotive TIC market.

  • DEKRA SE (Germany): In terms of automotive testing, inspection, and certification services, DEKRA is a world leader. The business provides a comprehensive range of TIC services, such as quality control, homologation, emissions testing, and vehicle testing. DEKRA has been growing its operations worldwide and has a significant presence in Europe.
     
  • TÜV SÜD (Germany): TÜV SÜD is a prominent supplier of automotive TIC services, emphasizing sustainability, quality, and safety. The business provides full testing and certification services for automobiles, parts, and production procedures. With a significant presence in North America, Europe, and Asia, TÜV SÜD is a worldwide organization.
     
  • Applus+ (Spain): An international business called Applus+ offers testing, certification, and inspection services to a number of industries, including the automotive one. The business provides a broad range of automotive TIC services, such as emissions testing, vehicle testing, and automotive component certification. Applus+ has operations in over 70 nations globally.
     
  • SGS Group (Switzerland): SGS is a major player in the automobile industry and a global leader in inspection, verification, testing, and certification services. The business provides a wide range of TIC services, including supply chain audits, quality control, emissions testing, and vehicle safety, to automakers and suppliers.
     
  • TÜV Rheinland AG Group (Germany): TÜV Rheinland is a top supplier of certification, testing, and inspection services, emphasizing sustainability, quality, and safety. Type approval, automotive component certification, and vehicle testing are just a few of the many automotive TIC services that the organization provides. TÜV Rheinland is a multinational company with a significant presence in North America, Europe, and Asia.Top of Form

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
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

SEND ME A FREE SAMPLE
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status