Automotive TIC Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	200 Pages	Fortune Business Insights Pvt. Ltd.	September, 2024	FOB19185586

Best Price Guarantee
Price	from $4,850
Length	200 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	September, 2024
SKU	FOB19185586

Automotive TIC Market

Growth Factors of Automotive TIC Market

The automotive TIC market size was reached at a value of USD 23.05 billion in 2023, and the market is now projected to grow from USD 24.66 billion in 2024 to USD 39.86 billion by 2032, exhibiting a CAGR of 6.2% during the forecast period of 2023-2032.

Due to the imposed lockdown enacted to prevent the virus from spreading, the COVID pandemic had a significant impact on automotive industry. Lockdown enacted in numerous nations have hindered the manufacturing and caused transportation delays. In addition, worldwide restrictions have caused a halt in economic activities. The waste creation has reduced due to lockdowns and economic slowdown led to reduction in automotive TIC market growth.

The widespread adoption use of cutting-edge technology, such as connected automobiles, electric vehicles, and autonomous driving systems, is one of the key factors propelling market expansions and has remarkably highlighted the requirement of safety and regulatory compliance in the automotive industry. The unique problems these technologies pose with interoperability, cybersecurity risks, and safety-critical functions are driving the need for specialized TIC services. Such factors will augment automotive TIC market growth and create remarkable opportunities will augment market growth.

Increasing digitization to create a growth-oriented positive trend in the market. Some of the biggest companies in the globe are investing in TIC software solutions as a result of the COVID-19 pandemic's acceleration of the market's digitization trend. Moreover, remote testing is approved by government authorities, which promotes automotive TIC market growth. Because of COVID-19, the majority of PTI was carried out with the use of cutting-edge digital technologies like data analytics, cloud computing, and smart sensors. Consequently, as more nations require PTI, the market in the area will grow.

Comprehensive Analysis of Automotive TIC Market

The automotive TIC market and automotives industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the automotives benefit management industry. These segmentations are methodically segregated by service types and by vehicle type. The types of devices segmentation include, Testing, Inspection, Certification, while by Vehicle Type segmentation include Passenger Cars, Commercial Vehicles.

The Asia Pacific region lead the automotive TIC market by benefitting a market size of USD 10.69 billion in 2023 due to increasing digitization and increasing urbanization and rising disposable income and expanding adoption of Internet of Things (IoT)-oriented technology.

The top players in the market play a crucial role in the automotives industry assuring industrial prospectus growth and setting market standards. These players include, TÜV SÜD (Munich, Germany), Applus Services, S.A (Madrid, Spain), Dekra SE (Stuttgart, Germany), SGS Group (Geneva, Switzerland), Bureau Veritas Group (Neuilly-sur-Seine, France), Intertek Group Plc (London, U.K.), Mistras Group (New Jersey, U.S.), Element Material Technology Ltd (London, U.K.), British Standards Institution (London, U.K.), DNV GL (Baerum, Norway) these market players provide a level-playing competitive landscape.

In February 2024, The CCAP mark certification for electric car charging equipment was started by China Automotive Certification Center Co., Ltd. (CCAP).

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 6.2% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Service Type

- Testing

- Inspection

- Certification

By Vehicle Type

- Passenger Cars

- Commercial Vehicles

By Geography

- North America (By Service Type, By Vehicle Type)

U.S. (By Vehicle Type)
Canada (By Vehicle Type)
Mexico (By Vehicle Type)

- Europe (By Service Type, By Vehicle Type)

U.K. (By Vehicle Type)
Germany (By Vehicle Type)
France (By Vehicle Type)
Rest of Europe (By Vehicle Type)

- Asia Pacific (By Service Type, By Vehicle Type)

China (By Vehicle Type)
Japan (By Vehicle Type)
India (By Vehicle Type)
Rest of APAC (By Vehicle Type)

- Rest of the World (By Service Type, By Vehicle Type)

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1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships; 4.2. Porter’s Five Forces Analysis; 4.3. PEST Analysis; 4.4. Impact of COVID-19
5. Global Automotive TIC Market Analysis, Insights and Forecast, 2019-2032: 5.1. Key Findings / Summary; 5.2. Market Analysis, Insights and Forecast – By Service Type; 5.2.1. Testing; 5.2.2. Inspection; 5.2.3. Certification; 5.3. Market Analysis, Insights and Forecast – By Vehicle Type; 5.3.1. Passenger Car; 5.3.2. Commercial Vehicle; 5.4. Market Analysis, Insights and Forecast – By Region; 5.4.1. North America; 5.4.2. Europe; 5.4.3. Asia Pacific; 5.4.4. Rest of the World
6. North America Automotive TIC Market Analysis, Insights and Forecast, 2019-2032: 6.1. Key Findings / Summary; 6.2. Market Analysis – By Service Type; 6.2.1. Testing; 6.2.2. Inspection; 6.2.3. Certification; 6.3. Market Analysis – By Vehicle Type; 6.3.1. Passenger Car; 6.3.2. Commercial Vehicle; 6.4. Market Analysis – By Country (Value); 6.4.1. U.S.; 6.4.1.1. By Vehicle Type; 6.4.2. Canada; 6.4.2.1. By Vehicle Type; 6.4.3. Mexico; 6.4.3.1. By Vehicle Type
7. Europe Automotive TIC Market Analysis, Insights and Forecast, 2019-2032: 7.1. Key Findings / Summary; 7.2. Market Analysis – By Service Type; 7.2.1. Testing; 7.2.2. Inspection; 7.2.3. Certification; 7.3. Market Analysis – By Vehicle Type; 7.3.1. Passenger Car; 7.3.2. Commercial Vehicle; 7.4. Market Analysis – By Country (Value); 7.4.1. U.K.; 7.4.1.1. By Vehicle Type; 7.4.2. Germany; 7.4.2.1. By Vehicle Type; 7.4.3. France; 7.4.3.1. By Vehicle Type; 7.4.4. Rest of Europe; 7.4.4.1. By Vehicle Type
8. Asia Pacific Automotive TIC Market Analysis, Insights and Forecast, 2019-2032: 8.1. Key Findings / Summary; 8.2. Market Analysis – By Service Type; 8.2.1. Testing; 8.2.2. Inspection; 8.2.3. Certification; 8.3. Market Analysis – By Vehicle Type; 8.3.1. Passenger Car; 8.3.2. Commercial Vehicle; 8.4. Market Analysis – By Country (Value); 8.4.1. China; 8.4.1.1. By Vehicle Type; 8.4.2. Japan; 8.4.2.1. By Vehicle Type; 8.4.3. India; 8.4.3.1. By Vehicle Type; 8.4.4. Rest of Asia Pacific; 8.4.4.1. By Vehicle Type
9. Rest of the World Automotive TIC Market Analysis, Insights and Forecast, 2019-2032: 9.1. Key Findings / Summary; 9.2. Market Analysis – By Service Type; 9.2.1. Testing; 9.2.2. Inspection; 9.2.3. Certification; 9.3. Market Analysis – By Vehicle Type; 9.3.1. Passenger Car; 9.3.2. Commercial Vehicle
10. Competitive Analysis: 10.1. Key Industry Developments; 10.2. Global Market Ranking Analysis (2023); 10.3. Competition Dashboard; 10.4. Comparative Analysis – Major Players; 10.5. Company Profiles; 10.5.1. Bureau Veritas SA; 10.5.1.1. Overview; 10.5.1.2. Products & services; 10.5.1.3. SWOT Analysis; 10.5.1.4. Recent Developments; 10.5.1.5. Strategies; 10.5.1.6. Financials (Based on Availability); 10.5.2. TUV SUD; 10.5.2.1. Overview; 10.5.2.2. Products & services; 10.5.2.3. SWOT Analysis; 10.5.2.4. Recent Developments; 10.5.2.5. Strategies; 10.5.2.6. Financials (Based on Availability); 10.5.3. Intertek Group Plc; 10.5.3.1. Overview; 10.5.3.2. Products & services; 10.5.3.3. SWOT Analysis; 10.5.3.4. Recent Developments; 10.5.3.5. Strategies; 10.5.3.6. Financials (Based on Availability); 10.5.4. Dekra SE; 10.5.4.1. Overview; 10.5.4.2. Products & services; 10.5.4.3. SWOT Analysis; 10.5.4.4. Recent Developments; 10.5.4.5. Strategies; 10.5.4.6. Financials (Based on Availability); 10.5.5. Mistras Group; 10.5.5.1. Overview; 10.5.5.2. Products & services; 10.5.5.3. SWOT Analysis; 10.5.5.4. Recent Developments; 10.5.5.5. Strategies; 10.5.5.6. Financials (Based on Availability); 10.5.5.7. Element Material Technology Ltd; 10.5.6. Overview; 10.5.6.1. Products & services; 10.5.6.2. SWOT Analysis; 10.5.6.3. Recent Developments; 10.5.6.4. Strategies; 10.5.6.5. Financials (Based on Availability); 10.5.7. British Standards Institution; 10.5.7.1. Overview; 10.5.7.2. Products & services; 10.5.7.3. SWOT Analysis; 10.5.7.4. Recent Developments; 10.5.7.5. Strategies; 10.5.7.6. Financials (Based on Availability); 10.5.8. SGS Group; 10.5.8.1. Overview; 10.5.8.2. Products & services; 10.5.8.3. SWOT Analysis; 10.5.8.4. Recent Developments; 10.5.8.5. Strategies; 10.5.8.6. Financials (Based on Availability); 10.5.9. Applus Services, S.A.; 10.5.9.1. Overview; 10.5.9.2. Products & services; 10.5.9.3. SWOT Analysis; 10.5.9.4. Recent Developments; 10.5.9.5. Strategies; 10.5.9.6. Financials (Based on Availability); 10.5.10. DNV GL; 10.5.10.1. Overview; 10.5.10.2. Products & services; 10.5.10.3. SWOT Analysis; 10.5.10.4. Recent Developments; 10.5.10.5. Strategies; 10.5.10.6. Financials (Based on Availability)