Press release
Automotive TIC Market Size in 2023 To 2029 | DEKRA SE (Germany), TÜV SÜD (Germany), Applus+ (Spain), SGS Group (Switzerland), and TÜV Rheinland AG Group (Germany)
The global automotive Testing, Inspection, and Certification (TIC) market is expected to grow from USD 17.7 billion in 2023 to USD 20.9 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 3.4%. The increasing focus on sustainability and environmental regulations in the automotive industry has resulted in a shift in demand for TIC services.Download FREE Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=1561871
The automotive TIC market is dominated by established players such as DEKRA SE (Germany), TÜV SÜD (Germany), Applus+ (Spain), SGS Group (Switzerland), and TÜV Rheinland AG Group (Germany), among others. They have worked on providing automotive TIC services for the automotive TIC market ecosystem. They have initiated partnerships to provide best-in-class services to their customers.
As the automotive sector embraces electric vehicles and stringent emissions standards, TIC providers play a crucial role in ensuring accurate emissions testing and certification, supporting compliance with environmental regulations. Moreover, the introduction of new technologies like advanced driver assistance systems and autonomous vehicles presents opportunities for TIC companies to offer testing and certification services for these innovative solutions.
The automotive TIC market also benefits from the growing complexity of vehicle components and systems. Comprehensive testing and inspection are necessary to ensure the safety and performance of these intricate systems. As the automotive industry continues to evolve and meet changing market demands, the demand for quality assurance, safety compliance, and environmental sustainability will drive the growth of the automotive TIC market.
Overall, the automotive TIC market is driven by the industry's need to adhere to environmental regulations, ensure safety and performance, and meet the demands of emerging technologies. TIC providers play a critical role in supporting the automotive industry's transition towards sustainable and technologically advanced vehicles.
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During the forecast period, TIC for vehicle inspection is expected to be the largest segment within the automotive TIC market. North America, in particular, has stringent regulations pertaining to vehicle safety, emissions, and overall compliance with standards. Vehicle inspection services play a crucial role in verifying and ensuring that vehicles meet these regulatory requirements, as well as ensuring their safety and roadworthiness.
The demand for vehicle inspection services is driven by consumer awareness and the increasing emphasis on quality and reliability in the automotive industry. Buyers in North America are becoming more conscious of safety and quality aspects and often opt for independent inspections to assess the condition and reliability of used vehicles before purchase.
The vehicle inspection segment within the automotive TIC market benefits from the need to meet regulatory standards and the growing consumer demand for reliable and high-quality vehicles. As vehicle safety and compliance remain top priorities, the demand for vehicle inspection services is expected to continue growing in North America and other regions with similar stringent regulations.
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