1. Market Research
  2. > Automotive
  3. > Motor Vehicle Market Trends
Automotive TIC Market by Service Type, Sourcing Type, Application And Geography; Periodic Technical Inspection Market, by Region - Global Forecast to 2024

Automotive TIC Market by Service Type, Sourcing Type, Application And Geography; Periodic Technical Inspection Market, by Region - Global Forecast to 2024

  • October 2019
  • 181 pages
  • ID: 5473534
  • Format: PDF
  • By MarketsandMarkets

Summary

Table of Contents

Search Inside

Automotive TIC market to grow at CAGR of 5.5% from 2019 to 2024
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.

Certification services to register highest CAGR in automotive TIC market, by service type, during forecast period
In the TIC ecosystem, certification services validate the test and inspection results against a range of pre-specified standards set by governments, international standardization institutions, or clients.In the current scenario, certification services are widely used by manufacturers to demonstrate if their products adhere to the government/regulatory mandates, as well as to improve the marketability of their offerings.

Certification services re crucial for manufacturers to ensure the compliance of their products with regulatory standards, thereby improving the marketability of products/services.Certifications ensure that manufacturers have followed safety, quality, and environmental standards and norms during the production process.

A few of the major certifications in the automotive industry are ISO/TS 16949, ISO 9001, AS9100C, ISO 20000, ISO 27001, EU Data Protection Directive, TL 9000, ESD S20.20, OHSAS 18001, ANSI/AIHA Z10, ISO 50001, Superior Energy Performance (SEP), ISO 14001, and ISO 14064.

In-house services to hold larger size of automotive TIC market, by sourcing type, during forecast period
In automotive applications, in-house testing of electronic control units (ECUs) and other core components is done by automakers at their manufacturing facilities.They are collaborating with public bodies and organizations including customs, competition authorities, and industrial health and safety authorities for conducting activities related to quality control and assurance.

Conducting in-house TIC services allow manufacturers to exert higher levels of control by keeping services and personnel under direct control; therefore, in-house services are likely to capture a larger share of the automotive TIC market. In-house services not only lower the risks associated with poor vehicle maintenance, including equipment failure and crashes but also enable manufacturers to identify the problems instantaneously.

Vehicle inspection services to hold largest size of automotive TIC market, by application, during forecast period
Vehicle inspection is the process of inspecting vehicles to ensure that they conform to safety and emission regulations mandated by national or subnational governments.Vehicles have to undergo a safety inspection before registration.

Vehicle inspection services are performed for new, as well as used/resale vehicles. Vehicle inspection services for new vehicles include a comprehensive inspection of the overall vehicle, which includes inspection of electrical systems and components; electric vehicles, hybrid electric vehicles, and battery systems; telematics; and others.

Automotive TIC market in APAC is expected to grow at highest CAGR during forecast period
Asia Pacific is expected to be the fastest-growing region in terms of the automotive TIC market.In this study, APAC represents India, China, Japan, South Korea, Australia, and Rest of APAC (RoAPAC).

This region has become a global focal point for investors focusing on making huge investments or seeking business expansion opportunities.Many economically advanced countries have their manufacturing units in the developing economies of APAC, especially in China and India.

These units are required to manufacture products in compliance with internationally accepted standards. Domestic markets in APAC are rapidly growing owing to the rising per capita income of the middle-class population in these countries.

Breakdown of Profile of Primary Participants:
• By Company Type: Tier 1 – 27%, Tier 2 – 41%, and Tier 3 – 32%
• By Designation: C-level Executives – 26%, Directors – 40%, and Others – 34%
• By Region: North America – 47%, Europe – 28%, APAC – 19%, and RoW – 6%

DEKRA SE (DEKRA) (Germany), TÜV SÜD Group (TÜV SÜD) (Germany), Applus Services S.A. (Applus+) (Spain), SGS Group (SGS) (Switzerland), TÜV Nord Group (TÜV Nord) (Germany), TÜV Rheinland Group (TÜV Rheinland) (Germany), Bureau Veritas S.A. (Bureau Veritas) (France), Intertek Group PLC (Intertek) (UK), Eurofins Scientific (Eurofins) (Luxembourg), Element Materials Technology (Element) (UK), Lloyd’s Register Group Limited (Lloyd’s) (UK), MISTRAS Group, Inc. (MISTRAS) (US) are a few key players in the automotive TIC market.

Research Coverage:
• The study covers the automotive TIC market. It aims to estimate the size and growth potential of this market across different segments, such as by service type, sourcing type, application, and geography. The study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying This Report:
The report will help leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall automotive TIC market and the market based on segments covered in this report.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Automotive Advanced Driver Assistance System (ADAS) Market by Application, Technology, and Geography - Forecast and Analysis 2020-2024

Automotive Advanced Driver Assistance System (ADAS) Market by Application, Technology, and Geography - Forecast and Analysis 2020-2024

  • $ 2500
  • December 2019

Global Automotive Advanced Driver Assistance System (ADAS) Market: About this marketThis automotive ADAS market analysis considers sales from both passenger cars and commercial vehicle applications. Ou ...

ADAS Calibration Equipment Market - Global Industry Analysis and Opportunity Assessment, 2019-2029

ADAS Calibration Equipment Market - Global Industry Analysis and Opportunity Assessment, 2019-2029

  • $ 5000
  • November 2019

A recent market study published on the ADAS calibration equipment market includes global industry analysis for 2014 - 2018 & opportunity assessment for 2019-2029, and delivers a comprehensive assessment ...

Frost Radar in the Global LiDAR Market

Frost Radar in the Global LiDAR Market

  • $ 4950
  • December 2019

Zero road fatalities is a goal for legislators, automotive suppliers, and original equipment manufacturers.To achieve this, major automotive companies are exploring autonomous driving technologies to complement ...


ref:plp2019

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on