Automotive TIC Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Automotive TIC Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Automotive TIC Market size will exhibit over 4.8% CAGR between 2024 and 2032. The growing popularity of electric vehicles (EVs) has spurred a heightened demand for TIC services, particularly in areas like battery performance, electric powertrains, and the certification of charging infrastructure. As per the IEA (International Energy Agency), the total sales of electric cars increased from 4% in 2020 to 18% in 2023. Meanwhile, autonomous vehicles are undergoing rigorous testing of their sensors, software, and systems to guarantee safety and optimal functionality. In response, TIC providers are crafting tailored services aimed at validating advanced driver-assistance systems (ADAS) and cutting-edge autonomous driving technologies. The automotive TIC industry is segmented on the basis of service, sourcing, vehicle, application, and region. By vehicle, the market size from the commercial vehicles segment will expand at a robust pace between 2024 and 2032. Commercial vehicles must adhere to strict safety regulations, encompassing crashworthiness, braking systems, and electronic stability controls. TIC services play a crucial role in ensuring these vehicles meet safety standards, aiding manufacturers and operators in complying with both regional and international regulations. With respect to application, the automotive TIC industry value from the telematics segment will record a notable CAGR through 2032. This can be ascribed to the robust role of ensuring the reliability, safety, and compliance of telematics systems in the automotive sector. TIC services evaluate the reliability and interoperability of V2V and V2I communication systems, essential for connected and autonomous vehicles. Seamless operation of these systems is vital for ensuring vehicle safety and efficiency on the road. Regionally, the Europe automotive TIC industry market size will grow from 2024 to 2032. With strong consumer demand for higher safety standards, there is a rising emphasis on safety-related inspections like crash testing, and durability testing. To that end, TIC services have grown critical in the region for validating the safety features of new vehicles. Countries, such as Germany, France, and the U.K. are also leading the adoption of advanced TIC services due to their strong automotive industries and rigorous regulatory environments.