Global Automotive TIC (Testing, Inspection, Certification) Market - 2023-2030

Global Automotive TIC (Testing, Inspection, Certification) Market - 2023-2030

The global automotive TIC (testing, inspection, certification) market reached around US$ 18 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 25 billion by 2030. The market is growing at a CAGR of 4.2% during the forecast period (2023-2030).

For the purpose of enhancing productivity, efficiency and the manufacturing process to meet the required standards, automotive testing, inspection and certification (TIC) manufacturers use their services. Additionally, by integrating smart sensors like radar, light detection and ranging and others into the vehicles, remote monitoring and maintenance prediction capabilities have been made possible, which in turn reduces the need for on-site inspection.

Market Dynamics

The rising adoption of autonomous vehicles

Since autonomous vehicles are being adopted more widely around the world, automotive testing is growing in popularity. For instance, the top automaker Volkswagen stated in 2019 that it would partner with Ford to invest in the AI business Argo AI. The cooperation aimed to spread autonomous car technology throughout the U.S. and Europe. Through 2023, the company will invest more than US$4 billion to improve and develop its autonomous or self-driving services.

The usage of autonomous vehicles is increasing, which causes the need for testing to develop quickly. As a result, the market for automotive testing will expand in the near future due to rising demand for autonomous vehicles.

The changing regulations across various nations

The development of the automobile testing market is being hampered by the industry's shifting regulations. As trade and businesses become more globalized, it is projected that different local norms and standards would make it tougher for items to be recognized globally. The clashes between national and international norms prevent the market from growing.

Automotive testing organizations must adhere to the laws and standards of the countries in which they do business, which may reduce their efficacy. For example, noise is one of the most significant ecological problems in the area. Vehicles produce more noise when they are equipped with different equipment, such as engines and chassis. Internal combustion engine (ICE) based engines typically produce more noise as a result of the combustion process inside of them.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global automotive TIC (testing, inspection, certification) market is segmented based on type, product, vertical and region.

The rising environmental concerns drives the growth of environmental testing

Environmental testing is anticipated to hold a sizable portion of the testing segment during the forecast period. Environmental testing replicates the different climatic situations and mechanical pressures that items are exposed to over the course of their lifespan. Environmental testing will expose any shortcomings in a product's performance or design that may arise in use, particularly at very high or very low temperatures.

For evaluating small to big products, environmental test chambers are available in a variety of sizes to simulate temperatures from -70°C to 180°C and relative humidity from 10% to 98.5%. Environmental test chambers are frequently used in the automobile industry and other sectors to test the endurance of components and products under challenging environmental conditions.

Geographical Analysis

The rising industrial automation in Asia-Pacific

Asia-Pacific, which already dominates more than 40% of the worldwide market, is the industry's hub and is predicted to grow at the highest rate. The demand for cars in the area is being driven by a rise in consumer purchasing power. A significant contributor to the region's development is the vast population of nations like India, which accounts for a sizeable share of the global population. India is expected to represent between 3-4% of the worldwide automotive testing market and between 8% and 10% of the Asia-Pacific market. As safety systems and technology continue to progress, Asia-Pacific is anticipated to experience the fastest growth in terms of automobile testing.

Competitive Landscape

The major global players include SGS SA, Intertek Group Plc, Robert Bosch Gmbh, Anritsu, Siemens AG, D&V Electronics, TÜV RHEINLAND, Dekra, UL Solutions, Rohde & Schwarz GmbH & Co KG, Element and AVL List GmbH.

Why Purchase the Report?
• To visualize the global automotive TIC (testing, inspection, certification) - market segmentation based on type, product, vertical and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of automotive TIC (testing, inspection, certification) market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global automotive TIC (testing, inspection, certification) market report would provide approximately 61 tables, 75 figures and 215 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies Show more