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Global $32.7Bn Automotive TIC Market Analysis Report, 2019-2025 - Acquisitions, Collaborations, Partnerships, and Agreements

/EIN News/ -- Dublin, Oct. 11, 2019 (GLOBE NEWSWIRE) -- The "Automotive TIC Market by Service Type (Testing, Inspection, Certification), Sourcing (In-house and Outsourcing), Application (Vehicle Inspection, Electric Components and Electronics, OEM Testing, Telematics) and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global Automotive TIC Services Market is Expected to Grow at a CAGR of 6.4% from 2019 to Reach $32.7 Billion by 2025.

TIC services improve the quality of the manufacturing process by testing/inspecting/and certifying in compliance with regulations/standards across the globe. This helps in the production of high quality, safe, and reliable automotive products/components. This is one of the major factors driving the growth of automotive TIC services market.

The overall automotive TIC market is mainly categorized by service (testing, inspection, and certification), sourcing (in-house and outsourcing), application (telematics, vehicle inspection services, electrical components & electronics, electromobility/electric vehicles, automotive fuels, fluids, and lubricants, interior & exterior materials and components, homologation testing, advanced driver assistance systems testing, durability testing, emission testing, acoustic testing, OEM testing, and others), and geography.

Factors such as increasing automotive production, consumer awareness about safety and environment awareness, and technological advancements are expected to drive the growth of the global automotive TIC services market. However, stringent trade policies and regulations, the high time required performing overseas qualification tests, lack of skilled resources, and government and environmental regulations are expected to restrain the growth of this market.

Based on the sourcing, the global automotive TIC services market is segmented into in-house and outsourcing. The in-house segment accounted for the largest share of the global automotive TIC services market by location in 2018. Factors such as high visibility and a high degree of control over processes and improved delivery performance are primarily driving the growth of this market segment.

On the basis of service type, the global automotive TIC services market is segmented into testing, inspection, and certification. The testing services segment accounted for the largest share of the global automotive TIC services market by service type in 2018, owing to high demand for quality and safety products and strong recommendations from the regulatory authorities to ensure the safety, quality, and efficiency of the products. However, the telematics segment is expected to grow at the highest growth rate owing to growing interest among automotive manufacturers to design vehicles using telecommunications.

Based on the application, Vehicle Inspection Services (VIS) segment accounted for the major share of the global automotive testing services market in 2018. The key benefits of TIC for vehicle inspection, such as monitoring vehicle damage throughout the supply chain; assessment of costs of repair for damaged vehicles; provide safe & reliable vehicles; improve quality, efficiency, & safety; and reduce environmental impact of road traffic, costs, delivery lead-times are supporting the growth of this application segment. Furthermore, the growing focus of government to implement legislation that help to reduce road accidents and the environmental impact of non-compliant vehicles are further supporting the growth of automotive TIC services market for vehicle inspection.

An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa). Asia Pacific commanded the largest share of the global automotive TIC services market in 2018, followed by Europe and North America.

Factors such as strong support from the government to promote the development of automotive industry, rising focus of manufacturers to support innovation and strengthen their position in this region, and increasing investments/funds from the manufacturers and government in the automotive industry are expected to drive the growth of Automotive TIC services market in this region.

Key Topics Covered

1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.4. Key Stakeholders

2. Research Methodology
2.1. Research Process

3. Executive Summary
3.1. Introduction

4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Increasing Automotive Production Worldwide
4.2.2. Consumer Awareness about Safety and Environment
4.2.3. Technological Advancements in Automotive Industry
4.3. Restraints
4.3.1. Stringent Trade Policies and Regulations
4.3.2. High Time Required to Perform Overseas Qualification Tests
4.3.3. Lack of Skilled Resources
4.3.4. Government and Environmental Regulation
4.4. Opportunities
4.4.1. New Opportunity for Small Scale and Mid-Sized Businesses
4.5. Trends
4.5.1. Increasing Outsourcing of TIC Services

5. Global Automotive Testing, Inspection, and Certification Market, by Service Type
5.1. Introduction
5.2. Testing
5.3. Inspection
5.4. Certification

6. Global Automotive Testing, Inspection, and Certification Market, by Sourcing Type
6.1. Introduction
6.2. In-House
6.3. Outsourcing

7. Global Automotive Testing, Inspection, and Certification Market, by Application
7.1. Introduction
7.2. Vehicle Inspection Services (VIS)
7.3. Electrical Components and Electronics (ECE)
7.4. Interior & Exterior Materials and Components
7.5. Electro Mobility/Electric Vehicles (EM/EV)
7.6. Automotive Fuels, Fluids, and Lubricants
7.7. Homologation Testing (HT)
7.8. Advanced Driver Assistance Systems (ADAS) Testing
7.9. Durability Testing
7.10. OEM Testing
7.11. Telematics
7.12. Emission Testing
7.13. Acoustic Testing
7.14. Others

8. Automotive Testing, Inspection, and Certification Market, by Geography
8.1. Introduction
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Europe
8.3.1. Germany
8.3.2. U.K
8.3.3. France
8.3.4. Italy
8.3.5. Spain
8.3.6. Rest of Europe
8.4. Asia-Pacific
8.4.1. China
8.4.2. Japan
8.4.3. South Korea
8.4.4. India
8.4.5. Rest of Asia-Pacific
8.5. Latin America
8.6. Middle East & Africa (MEA)

9. Competitive Landscape
9.1. Introduction
9.1.1. Acquisitions
9.1.2. Collaborations, Partnerships, and Agreements
9.1.3. New Service and New Product Launches
9.1.4. Expansions

10. Company Profiles
10.1. DEKRA SE
10.2. TUV SUD Group
10.3. Applus Services S.A.
10.4. SGS Group
10.5. TUV NORD Group
10.6. TUV Rheinland AG Group
10.7. Bureau Veritas S.A.
10.8. Intertek Group Plc
10.9. Eurofins Scientific
10.10. Element Materials Technology

For more information about this report visit https://www.researchandmarkets.com/r/97ue38

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