PUBLISHER: The Business Research Company | PRODUCT CODE: 1556206
PUBLISHER: The Business Research Company | PRODUCT CODE: 1556206
Automotive Testing, Inspection, and Certification (TIC) involves systematic processes that assess automotive components, systems, and vehicles to ensure they meet regulatory standards, safety requirements, and quality benchmarks. These processes are vital for maintaining vehicle reliability, performance, and adherence to international and local regulations.
The primary services within automotive TIC are testing services, inspection services, certification services, and others. Automotive testing services focus on evaluating and validating vehicles and their components for safety, performance, compliance, and reliability through various testing methodologies and standards. Sourcing can be either in-house or outsourced for different vehicles, including passenger cars and commercial vehicles. These services cover a range of applications such as electrical systems and components, telematics, vehicle inspection services, homologation testing, interior and exterior materials, and more.
The automotive testing, inspection and certification (TIC) market research report is one of a series of new reports from The Business Research Company that provides automotive testing, inspection and certification (TIC) market statistics, including the automotive testing, inspection and certification (TIC) industry's global market size, regional shares, competitors with an automotive testing, inspection and certification (TIC) market share, detailed automotive testing, inspection and certification (TIC) market segments, market trends and opportunities, and any further data you may need to thrive in the automotive testing, inspection and certification (TIC) industry. This automotive testing, inspection and certification (TIC) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The automotive testing, inspection and certification (TIC) market size has grown strongly in recent years. It will grow from $19.98 billion in 2023 to $21.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth during the historic period can be attributed to several factors, including an increase in vehicle recalls, expansion in the automotive manufacturing sector, advancements in connected vehicle technologies, implementation of brand protection policies, and heightened concerns for consumer safety.
The automotive testing, inspection and certification (TIC) market size is expected to see strong growth in the next few years. It will grow to $29.57 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth projected for the forecast period is expected to be driven by a greater reliance on software solutions, the increasing risk of accidents, industrialization and infrastructure development, the growing popularity of electric vehicles (EVs), and rising vehicular pollution. Key trends anticipated during this period include advanced driver-assistance systems (ADAS), advancements in connected vehicles, the increasing trend of digitalization, and the emergence of new automotive technologies.
The growing number of road accidents is anticipated to drive the expansion of the automotive testing, inspection, and certification (TIC) market in the future. The increase in road accidents is attributed to factors such as distracted driving, driving under the influence, reckless driving, and adverse weather conditions. Automotive TIC is vital in reducing road accidents by ensuring vehicles and their components adhere to stringent safety, reliability, and performance standards. For example, according to a report published by Eurostat, a Luxembourg-based government agency, in March 2024, approximately 20,653 people were killed in road accidents in the European Union in 2022, marking a 3.7% increase compared to 2021. Hence, the rising number of accidents is propelling the growth of the automotive TIC market.
Leading companies in the automotive testing, inspection, and certification (TIC) market are concentrating on developing advanced solutions, such as artificial intelligence-powered platforms, to enhance testing accuracy and efficiency. AI-powered platforms for vehicle inspection use AI technology to automatically analyze and assess vehicle conditions, thereby improving the accuracy and efficiency of the inspection process. For instance, in March 2023, Applus+, a Spain-based vehicle inspection services provider, introduced eReformas, a new digital solution in Spain. This AI-powered platform digitizes the process of vehicle modifications at periodic technical inspection (PTI) stations. Key features of eReformas include digitizing the documentation process, enabling customers to access the eReformas website, select the needed service, and upload the required documents. The system then automatically analyzes the documents to verify their correctness and informs the user of the result.
In February 2023, Opus Inspection Inc., a US-based manufacturer of emission testing equipment, acquired Applus Technologies Inc. for an undisclosed amount. This acquisition enables Opus to offer industry-leading inspection services and innovative technology solutions by combining the expertise and resources of both organizations. Applus Technologies Inc. is a Spain-based vehicle testing, inspection, and certification company.
Major companies operating in the automotive testing, inspection and certification (TIC) market are Eurofins Scientific SE, SGS SA, Bureau Veritas SA, Intertek Group PLC, DEKRA, UL Solutions, Element Materials Technology, Exova Group Limited, ALS Limited, Apave Group, BSI Group(British Standards Institution), RINA, MISTRAS Group, Kiwa NV, NSF International, SAI Global, The Smithers Group Inc., Method Park, TUV Rheinland, DNV GL(Det Norske Veritas Germanisher Lloyd)
Asia-Pacific was the largest region in the automotive testing, inspection and certification (TIC) market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive testing, inspection and certification (TIC) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive testing, inspection and certification (TIC) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive testing, inspection, and certification (TIC) market includes revenues earned by entities providing services such as safety testing, emissions testing, performance testing, durability testing, quality assurance, and electrical and electronics testing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Testing, Inspection And Certification (TIC) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive testing, inspection and certification (TIC) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive testing, inspection and certification (TIC) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive testing, inspection and certification (TIC) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.