Press release
Automotive TIC Market Worth $32.7 Billion by 2025
According to this latest publication from Meticulous Research, the global automotive testing, inspection, certification market is forecasted to reach $32.7 billion in 2025 from USD 22.5 billion in 2019, growing at a CAGR of 6.4%.
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The growth of this market is driven by factors such as growing automotive production worldwide, consumer awareness about safety and environment, and technological advancements. Moreover, small scale and medium-sized businesses and potential for small cars in the emerging market are the factors providing opportunities in this market. On the other hand, stringent trade policies and regulations, high time required to perform overseas qualification tests, lack of skilled resources, and government and environmental regulations are expected to hinder the growth of this market.
The global automotive testing, inspection, certification market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025- by Service Type (Testing, Inspection, Certification), Sourcing (In-house and Outsourcing), and Application (Vehicle Inspection Services, Electric Components and Electronics, Interior & Exterior Materials and Components, Electro Mobility/ Electric Vehicles, Automotive Fuels, Fluids, and Lubricants, Homologation Testing, Advanced Driver Assistance Systems testing, Durability Testing, OEM Testing, Telematics, Emission testing, Acoustic Testing, Others). The study also evaluates industry competitors and analyzes the market at regional and country level.
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Scope of the Report:
Automotive TIC Market by Service Type
Testing
Inspection
Certification
Automotive TIC Market by Sourcing
In-house
Outsourcing
Automotive TIC Market by Application
Vehicle Inspection Services
Electrical Components and Electronics
Interior & Exterior Materials and Components
Electro Mobility/Electric Vehicles
Automotive Fuels, Fluids, and Lubricants
Homologation Testing
Advanced Driver Assistance Systems (ADAS) Testing
Durability Testing
OEM Testing
Telematics
Emission Testing
Acoustic Testing
Based on service type, the global automotive TIC market is segmented into testing, inspection, and certification. Testing services segment accounted for the largest share of global automotive TIC market in 2018, owing to growing demand for high quality and safety products and strong recommendations from the regulatory authorities to ensure the safety, quality, and efficiency of the products. However, telematics segment is expected to grow at fastest growth rate owing to growing interest among automotive manufacturers to design vehicles using telecommunications.
On the basis of sourcing, automotive TIC market is segmented into in-house and outsourcing. In-house segment accounted for the largest share of global automotive testing, inspection, certification market in 2018 as it maintains higher visibility and higher degree of control over processes, which further improves the delivery performance.
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This research report analyzes major geographies and provides a comprehensive analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for the largest share of the global automotive TIC services market in 2018. Factors such as strong support from the government to promote the development of automotive industry, rising focus of manufacturers to support innovative research and expand their position in this region, increasing investments/funds from the manufacturers and government in the automotive industry are expected to drive the growth of the automotive TIC services market in this region.
The key players profiled in the global automotive testing, inspection, certification market report are Dekra Se, SGS, Applus, Eurofins Scientific, TUV Rheinland AG Group, TUV SUD SGS, Bureau Veritas, TV NORD Group, and Element Materials Technology.
TOP 10 COMPANIES IN AUTOMOTIVE TIC MARKET
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Key questions answered in the report-
Which are the high growth market segments in terms of service type, sourcing, application, and region?
What was the historical market for automotive TIC services across the globe?
What are the market forecasts and estimates for the period 2019-2025?
What are the major drivers, restraints, and opportunities in the global automotive TIC market?
Who are the major players in the global automotive TIC market?
How is the competitive landscape and who are the market leaders in the global automotive TIC market?
What are the recent developments in the global automotive TIC market?
What are the different strategies adopted by the major players in the global automotive TIC market?
What are the geographical trends and high growth regions?
Who are the local emerging players in the global automotive TIC market and how do they compete with the global players?
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About Us
The name of our company defines our services, strengths, and values. Since the inception, we have endeavored to research, analyze and present the critical market data with great attention to details.
Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.
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