Global Automotive TIC (Testing, Inspection, Certification) Market 2019-2024: Lucrative Opportunities Provided By Small and Medium-Sized Businesses to TIC Service Providers
DUBLIN, Nov. 11, 2019 /PRNewswire/ -- The "Automotive TIC Market by Service Type (Testing, Inspection, Certification), Sourcing Type, Application (Vehicle Inspection, Electrical Systems, & Components), and Geography; Periodic Technical Inspection Market, by Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The automotive TIC market is expected to grow from USD 16.9 billion in 2019 to USD 22.1 billion by 2024, at a CAGR of 5.5%
The growth of this market can be attributed to the increasing automobile production in emerging economies, growing inclination toward outsourcing TIC services, rising focus of governments to impose strict regulatory standards on the automotive industry, surging adoption of automotive electronics to maintain passenger and vehicle safety, augmenting awareness among consumers regarding product quality and safety, and increasing instances of vehicle recalls due to component failures. However, varying regulations/standards across various regions is the factor that restrains the market growth.
Automotive TIC services help ensure that a product meets required regulatory standards related to quality, technical safety, and performance. Generally, testing is carried out in laboratories and helps manufacturers improve the marketability of their products and reduce costs in the preproduction phase. Inspection services are used to examine traded goodsfrom the manufacturing to the end-user to ensure that they comply with buyers' specifications. Certification services verify test and inspection results against prespecified standards set by governments and international standardization bodies.
Increasing automobile production in emerging economies, growing inclination toward outsourcing TIC services, rising focus of governments to impose strict regulatory standards on the automotive industry, surging adoption of automotive electronics to maintain the passenger and vehicle safety, and increasing instances of vehicle recall due to component failures are the are the major factors driving the demand for automotive TIC services. However, varying regulations and standards across regions is a major restraint for this market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Automotive TIC Market
4.2 Market, By Service Type
4.3 Market, By Sourcing Type
4.4 Market, By Application
4.5 Market, By Application (Global Market) and Region (Market in APAC)
4.6 Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Automobile Production in Emerging Economies
5.2.1.2 Growing Inclination Toward Outsourcing TIC Services
5.2.1.3 Rising Focus of Governments to Impose Strict Regulatory Standards on Automotive Industry
5.2.1.4 Surging Adoption of Automotive Electronics to Maintain Passenger and Vehicle Safety
5.2.1.5 Augmenting Awareness Among Consumers Regarding Product Quality and Safety
5.2.1.6 Increasing Instances of Vehicle Recalls Due to Component Failures
5.2.2 Restraints
5.2.2.1 Varying Regulations/Standards Across Regions
5.2.3 Opportunities
5.2.3.1 Mandate of Periodic Technical Inspection (PTI) of Vehicles By Governments in Countries Such as the US and Germany
5.2.3.2 Lucrative Opportunities Provided By Small and Medium-Sized Businesses to TIC Service Providers
5.2.3.3 Adoption of Electric Vehicles and Hybrid Electric Vehicles
5.2.4 Challenges
5.2.4.1 Declining Global Vehicle Sales
5.2.4.2 Long Lead Time Required for Overseas Qualification Tests
6 Major Focus Areas for TIC Services in Automotive Applications
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
7.2.1 Testing Services Assist Manufacturers in Improving Marketability of Their Products and Lowering Costs in Pre-Production Phase
7.3 Inspection Services
7.3.1 Vehicle Inspection Services Ensure High-Quality Production
7.4 Certification Services
7.4.1 Certification Services to Witness Highest CAGR in Market During 2019-2024
7.5 Other Services
8 Automotive TIC Market, By Sourcing Type
8.1 Introduction
8.2 In-House
8.2.1 In-House Services Reduce Risks Associated With Poor Vehicle Maintenance and Enable Manufacturers to Identify Problems Instantaneously
8.3 Outsourced
8.3.1 Privatization of State-Owned Laboratories Will Boost Demand for TIC Services in Coming Years
9 Automotive TIC Market, By Application
9.1 Introduction
9.2 Electrical Systems and Components
9.2.1 Emc Testing Helps Improve Safety of Electric and Electronic Devices Used in Electric Vehicles
9.3 Electric Vehicles, Hybrid Electric Vehicles, and Battery Systems
9.3.1 Investments Made By Worldwide Governments Would Lead to Adoption of Electric Vehicles
9.4 Telematics
9.4.1 Testing Services Expected to Hold Largest Market Size for Telematics Applications During Forecast Period
9.5 Fuels, Fluids, and Lubricants
9.5.1 Fuel, Fluid, and Lubricant Testing Ensures That Vehicle Abide With Federal Emissions and Fuel Economy Standards
9.6 Interior and Exterior Materials and Components
9.6.1 Continuous Changes in Trends Create Need for Improved Safety and Quality Standards for Automotive Interior and Exterior Materials
9.7 Vehicle Inspection Services (VIS)
9.7.1 Periodical Technical Inspection Drives Market for Vehicle Inspection Services
9.8 Homologation Testing
9.8.1 Homologation Testing Ensures That Vehicles Fulfill Required Emission and Safety Standards for Car Safety and Environmental Protection
9.9 Others
10 Geographic Analysis
11 Automotive TIC Market for Periodic Technical Inspection Services, By Region
12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis
12.3 Competitive Scenario
12.3.1 Mergers and Acquisitions
12.3.2 Expansions
12.3.3 Product and Service Launches
12.3.4 Partnerships, Agreements, and Contracts
12.3.5 Other Developments
12.4 Competitive Leadership Mapping
12.4.1 Visionary Leaders
12.4.2 Dynamic Differentiators
12.4.3 Innovators
12.4.4 Emerging Companies
13 Company Profiles
Key Players
- Dekra SE
- TUV SUD
- Applus+
- SGS Group
- TUV Rheinland AG Group
- TUV Nord Group
- Bureau Veritas S.A.
- Intertek
- Eurofins
- Element Materials
Other Key Companies
- British Standards Institution (BSI)
- Rina S.P.A.
- Norges Elektriske Materiellkontroll (NEMKO)
- Nsf International
- Engineering, Quality, and Safety (EQS)
- Lloyd's
- Mistras
- DNV GL
- UL LLC
For more information about this report visit https://www.researchandmarkets.com/r/xdckr4
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