Automotive TIC Market Size, Share & Trends Analysis Report By Service Type (Testing, Inspection, Certification), By Sourcing Type (In-house, Outsourced), By Application (Vehicle Inspection, ADAS Testing), By Region, And Segment Forecasts, 2023 - 2030

Automotive TIC Market Size, Share & Trends Analysis Report By Service Type (Testing, Inspection, Certification), By Sourcing Type (In-house, Outsourced), By Application (Vehicle Inspection, ADAS Testing), By Region, And Segment Forecasts, 2023 - 2030

Automotive TIC Market Growth & Trends

The global automotive TIC market size is expected to reach USD 72.51 billion by 2030, according to a new report by Grand View Research, Inc. The industry is anticipated to grow at a lucrative CAGR of 10.7% from 2023 to 2030. This growth is driven by the expanding automotive industry, propelled by increased disposable incomes, urbanization, and the rising adoption of electric vehicles. The surge in automotive production heightens the demand for TIC services to ensure vehicles adhere to safety and quality standards. The increasing complexity of automotive technology, including features like advanced driver-assistance systems (ADAS) and autonomous driving, necessitates more advanced TIC services to guarantee vehicle safety and reliability.

The growth of the market is propelled by the increasing automotive production and technological advancements in the industry. With the global automotive sector on steady growth, the rising production volume necessitates a higher demand for TIC services to ensure thorough testing, inspections, and certifications (TIC), meeting safety standards and regulatory requirements. Additionally, the industry's shift towards advanced technologies, such as electric vehicles, autonomous driving systems, and connectivity features, requires comprehensive TIC services to validate the safety, performance, and compliance of these vehicles. As the automotive sector continues to adopt more advanced technologies, the demand for specialized TIC expertise is expected to grow.

Major players in the market are consistently striving to maintain leadership through innovative strategies. Substantial investments in research and development (R&D) enable companies to enhance testing, inspection, and certification capabilities, employing cutting-edge technologies like simulation, data analytics, and artificial intelligence (AI). Additionally, strategic mergers and acquisitions (M&A) are common approaches for expanding product offerings, geographical reach, and customer bases, reinforcing competitive positions. Continuous product launches cater to evolving industry needs, addressing technological advancements, regulatory requirements, and market trends, with a parallel focus on digital transformation initiatives for enhanced operational efficiency and customer experience.

Automotive TIC Market Report Highlights

• The testing segment led the market in 2022, accounting for over 74% share of the global revenue. The growing complexity of automotive systems and the adoption of advanced technologies have further fueled the demand for comprehensive testing services
• The in-house segment led the market in 2022, accounting for over 56% of global revenue. In-house TIC services help automotive manufacturers maintain quality control and assurance processes within their facilities, allowing them to monitor and manage production processes closely to ensure compliance with industry standards and regulations
• The vehicle inspection segment will likely account for a sizable share of the global market. Integration of advanced technologies in vehicle inspection procedures, such as computerized diagnostics and imaging systems, improves the accuracy and efficiency of inspections, driving the demand for these services

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