2020 Automotive TIC Market History, Overview and Future Developments by 2025 Analysis and Forecast

The report titled “Automotive TIC Market” sheds a concentrated focus on the Automotive TIC industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.

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The Automotive TIC Market is expected to grow from USD 16.5 Billion in 2020 to USD 20.5 Billion by 2025, at a CAGR of 4.3%.

Top Companies Profiled in the Automotive TIC Market:
• DEKRA SE (DEKRA) (Germany)
• TÜV SÜD Group (TÜV SÜD) (Germany)
• Applus Services S.A. (Applus+) (Spain)
• SGS Group (SGS) (Switzerland)
• TÜV Nord Group (TÜV Nord) (Germany)
• TÜV Rheinland Group (TÜV Rheinland) (Germany)
• Bureau Veritas S.A. (Bureau Veritas) (France)
• Intertek Group PLC (Intertek) (UK)
• Eurofins Scientific (Eurofins) (Luxembourg)
• Element Materials Technology (Element) (UK)
• Lloyd’s Register Group Limited (Lloyd’s) (UK)
• MISTRAS Group Inc. (MISTRAS) (US)

In the TIC ecosystem, certification services validate the test and inspection results against a range of pre-specified standards set by governments, international standardization institutions, or clients. In the current scenario, certification services are widely used by manufacturers to demonstrate if their products adhere to the government/regulatory mandates, as well as to improve the marketability of their offerings.

In automotive applications, in-house testing of electronic control units (ECUs) and other core components is done by automakers at their manufacturing facilities. They are collaborating with public bodies and organizations including customs, competition authorities, and industrial health and safety authorities for conducting activities related to quality control and assurance.

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Vehicle inspection is the process of inspecting vehicles to ensure that they conform to safety and emission regulations mandated by national or subnational governments. Vehicles have to undergo a safety inspection before registration. Vehicle inspection services are performed for new, as well as used/resale vehicles.

Breakdown of primary participants’ profile:
• By Company Type: Tier 1 – 27%, Tier 2 – 41%, and Tier 3 – 32%
• By Designation: C-level Executives – 26%, Directors – 40%, and Others – 34%
• By Region: North America – 47%, Europe – 28%, APAC – 19%, and RoW – 6%

Competitive Landscape of Automotive TIC Market:
1 Overview
2 Market Ranking Analysis
3 Competitive Scenario
3.1 Mergers And Acquisitions
3.2 Expansions
3.3 Product And Service Launches
3.4 Partnerships, Agreements, And Contracts
3.5 Other Developments
4 Competitive Leadership Mapping
4.1 Visionary Leaders
4.2 Dynamic Differentiators
4.3 Innovators
4.4 Emerging Companies

Reason to access this report:
The report will help leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall automotive TIC market and the market based on segments covered in this report. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

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