Global $27.6Bn Automotive TIC Market 2018-2023 - Leader Service Providers are DEKRA SE and TV SD Group
DUBLIN, July 11, 2018 /PRNewswire/ --
The "Automotive TIC Market by Service Type, Sourcing Type, Application and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The automotive TIC market is expected to grow from USD 19.51 billion in 2018 to USD 27.66 billion by 2023, at a CAGR of 7.23% from 2018 to 2023.
The growth of this market is mainly driven by increasing automotive production worldwide, inclination toward outsourcing TIC services, vehicle recalls due to failure of components, and enforcement of stringent government regulations and standards in the automotive sector worldwide.
Testing services accounted for a share larger than the other TIC services in the automotive TIC market, by service type in 2018. Quality control is very important for automotive manufacturing operations and for additional safety, testing, and reporting measures, which require advanced test equipment and instruments in automotive manufacturing facilities and laboratories. Testing services assist manufacturers in improving the marketability of their products and lowering costs in pre-production phases (R&D, selection of suppliers, etc.). Most of these tests are performed as per standard analytical methodology.
The vehicle inspection service (VIS) application accounted for the largest share of the automotive TIC market, based on application, in 2018. VIS is a pack of bundled services wherein new or used automobile go through a wide range of services such as inspection of electrical systems and components, interior & exterior materials and components, and other applications. VIS is a combination of multiple services, and these services are primarily offered by most TIC service providers, thus holding maximum share in the market during the forecast period.
Asia Pacific (APAC) accounted for the largest share of the automotive TIC, by geography in 2018. The automotive industry is subject to strict safety regulations in a few APAC countries such as Japan and South Korea; demands for passenger cars is also on the rise in these countries. Countries such as China are estimated to come up with vehicle and road safety regulations owing to growing population as well as vehicle demand. Reasons such as limited infrastructure and increasing number of accidents could boost the implementation of safety regulations. Increased production of motor vehicles in countries such as India, China, Japan, and South Korea is significantly contributing towards the growth of the automotive TIC market in the APAC region.
Varying automotive regulatory standards across countries is the major restraining factor for the growth of the automotive TIC market. DEKRA SE and TV SD Group are the top-ranked service providers in the automotive TIC market. These players rely on their diversified service portfolio, global reach, and growth strategies such as expansions, and mergers and acquisitions to hold a large share of the overall automotive TIC market.
Key Topics Covered
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered for Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
2.5 Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Automotive TIC Market
4.2 Automotive TIC Market, By Service Type
4.3 Automotive TIC Market, By Sourcing Type
4.4 Automotive TIC Market, By Application
4.5 Automotive TIC Market, By Application & By Region
4.6 Automotive TIC Market, By Country
5 Market Overview
5.1 Introduction
5.2 Value Chain Analysis
5.3 Core Industry Segments for Automotive TIC Market
5.3.1 TIC Standards and Regulatory Bodies
5.3.2 Companies Offering Automotive TIC Services
5.3.3 Major Applications of Automotive TIC
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Increasing Automotive Production Worldwide
5.4.1.2 Outsourcing Tendencies in TIC Services Market
5.4.1.3 Stringent Regulations and Standards in Automotive Industry
5.4.1.4 Growing Trend of Electronic Systems Adoption in the Automotive Industry
5.4.1.5 Growing Awareness About Safety Among Consumers
5.4.1.6 Increasing Instances of Vehicle Recall Due to Components Failures
5.4.2 Restraints
5.4.2.1 Varying Regulations/Standards Across Regions
5.4.3 Opportunities
5.4.3.1 Growth Opportunities for Small and Mid-Sized Businesses in the TIC Ecosystem
5.4.3.2 Growth of Electric Vehicles (EVS) and Hybrid Vehicles Market
5.4.4 Challenges
5.4.4.1 Long Lead Time Required for Overseas Qualification Tests
6 Major Focus Areas for TIC Services in the Automotive Application
6.1 Introduction
6.2 Functional Safety
6.3 Adas and Safety Controller
6.3.1 Adaptive Cruise Control (ACC)
6.3.2 Auto Emergency Braking (AEB)
6.3.3 Lane Departure Warning System (LDWS)
6.3.4 Tire Pressure Monitoring System (TPMS)
6.3.5 Pedestrian Warning/Protection System
6.3.6 Traffic Sign Recognition
6.3.7 Automotive Night Vision
6.3.8 Blind Spot Detection
6.3.9 Driver Drowsiness Detection
6.3.10 Automatic Parking
6.3.11 Other Adas and Safety Controllers
6.4 Cockpit Controller
6.4.1 Heads-Up Display (HUD)
6.4.2 Human Machine Interface (HMI)
6.4.3 Other Cockpit Controllers
6.5 Chassis and Body Controller
7 Automotive TIC Market, By Service Type
7.1 Introduction
7.2 Testing Services
7.3 Inspection Services
7.4 Certification Services
7.5 Other Services
8 Automotive TIC Market, By Sourcing Type
8.1 Introduction
8.2 In-House
8.3 Outsourced
9 Automotive TIC Market, By Application
9.1 Introduction
9.2 Electrical Systems and Components
9.3 Electric Vehicles, Hybrid Electric Vehicles, and Battery Systems
9.4 Telematics
9.5 Fuels, Fluids, and Lubricants
9.6 Interior & Exterior Materials and Components
9.7 Vehicle Inspection Services
9.8 Homologation Testing
9.9 Others
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 Us
10.2.1.1 US Held Largest Share of North American Automotive TIC Market in 2017
10.2.1.2 Presence of Major Automobile Manufacturers in the Country
10.2.2 Canada
10.2.2.1 Role of Ontario in Canadian Automotive Industry
10.2.3 Mexico
10.2.3.1 Ranked 8th in World Automotive Production in 2017 By Oica
10.2.3.2 Automotive Regulatory Standards in Mexico
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany's Automotive Industry Driving Overall TIC Market
10.3.2 Uk
10.3.2.1 Presence of Luxury and Sports Cars Manufacturers
10.3.3 France
10.3.3.1 Country With One of the Strongest Transportation Sectors in Overall TIC Market
10.3.4 Italy
10.3.4.1 Double-Digit Growth in Automotive Production in 2017
10.3.5 Spain
10.3.5.1 Second-Largest Automotive Manufacturer in Europe in 2017
10.3.6 Rest of Europe (RoE)
10.3.6.1 Russia Plays A Major Role in European Automotive Industry
10.4 Asia Pacific (APAC)
10.4.1 China
10.4.1.1 Producing One-Third of World's Total Automobiles, China is A Growing Market for TIC Services
10.4.2 Japan
10.4.2.1 Second Largest Country in Global Automobile Production in 2017
10.4.3 India
10.4.3.1 Government Incentives Likely to Drive Demand for TIC Services
10.4.4 South Korea
10.4.4.1 Home to Major Automotive Companies
10.4.5 Australia
10.4.5.1 Expert in In-House Car Manufacturing and Assembling, in Large Volumes
10.4.6 Rest of APAC
10.4.6.1 Improved Living Standards and Rising Per Capita Income Likely to Drive Automotive TIC Market in RoAPAC
10.5 Rest of the World (RoW)
10.5.1 South America
10.5.1.1 Brazil is One of the Fastest-Growing Economies in the World
10.5.2 Middle East & Africa
10.5.2.1 Iran and South Africa are Two Major Contributors in the Automotive TIC Market
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis
11.3 Competitive Scenario
11.3.1 Mergers & Acquisitions
11.3.2 Expansions
11.3.3 Product and Service Launch
11.3.4 Partnership, Agreement, and Contract
11.3.5 Other Developments
12 Company Profiles
12.1 Key Players
12.1.1 Dekra Se
12.1.2 TUV SUD Group
12.1.3 Applus Services S.A.
12.1.4 SGS Group
12.1.5 TUV Nord Group
12.1.6 TUV Rheinland AG Group
12.1.7 Bureau Veritas S.A.
12.1.8 Intertek Group PLC
12.1.9 Eurofins Scientific
12.1.10 Element Materials Technology
12.1.11 Lloyd's Register Group Limited
12.1.12 Mistras Group, Inc.
12.1.13 UL LLC
12.1.14 DNV GL Group As
12.1.15 Sai Global Pty Limited
12.2 Other Key Companies
12.2.1 British Standards Institution (BSI)
12.2.2 Rina S.P.A.
12.2.3 Norges Elektriske Materiellkontroll (NEMKO)
12.2.4 NSF International
12.2.5 Engineering, Quality, and Safety (EQS)
For more information about this report visit https://www.researchandmarkets.com/research/6zdqk9/global_27_6bn?w=5
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