Product Code: SE 6416
"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 Profiles 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), TUV SUD Group (TUV SUD) (Germany), Applus Services S.A. (Applus+) (Spain), SGS Group (SGS) (Switzerland), TUV Nord Group (TUV Nord) (Germany), TUV Rheinland Group (TUV 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 the 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.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION AND SCOPE
- 1.3 INCLUSIONS AND EXCLUSIONS
- 1.4 STUDY SCOPE
- 1.4.1 MARKETS COVERED
- 1.4.2 GEOGRAPHIC SCOPE
- 1.4.3 YEARS CONSIDERED
- 1.5 CURRENCY
- 1.6 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 STUDY LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES IN 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 (GLOBAL MARKET) AND REGION
(MARKET IN APAC) 36
- 4.6 AUTOMOTIVE TIC 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 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 AUTOMOTIVE TIC 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
- 10.1 INTRODUCTION
- 10.2 NORTH AMERICA
- 10.2.1 US
- 10.2.1.1 US held most significant share of North American automotive TIC market in 2018
- 10.2.1.2 Strong presence of major automobile manufacturers in the country
- 10.2.2 CANADA
- 10.2.2.1 Crucial role of Ontario in growth of Canadian automotive industry
- 10.2.3 MEXICO
- 10.2.3.1 Ranked 6th in world for automotive production in 2018 by OICA
- 10.2.3.2 Stringent regulatory standards followed during vehicle production in Mexico
- 10.3 EUROPE
- 10.3.1 GERMANY
- 10.3.1.1 Germany's automotive industry driving overall TIC market growth
- 10.3.2 UK
- 10.3.2.1 Significant presence of manufacturers of luxury and sports cars
- 10.3.3 FRANCE
- 10.3.3.1 Country with strong transportation sector in TIC market
- 10.3.4 ITALY
- 10.3.4.1 Presence of numerous automobile companies
- 10.3.5 SPAIN
- 10.3.5.1 Second-largest automotive manufacturer in Europe in 2018
- 10.3.6 REST OF EUROPE (ROE)
- 10.3.6.1 Major role of Russia in European automotive industry growth
- 10.4 ASIA PACIFIC (APAC)
- 10.4.1 CHINA
- 10.4.1.1 Production of one-third of world's total automobilespropels TIC services growth in China
- 10.4.2 JAPAN
- 10.4.2.1 World's third-largest country producing automobiles in 2018
- 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 assembly processes
- 10.4.6 REST OF APAC
- 10.4.6.1 Improved living standards and rising per capita income likely to augment automotive TIC market growth in RoAPAC
- 10.5 REST OF THE WORLD (ROW)
- 10.5.1 SOUTH AMERICA
- 10.5.1.1 Brazil is world's one of the fastest-growing economies
- 10.5.2 MIDDLE EAST & AFRICA
- 10.5.2.1 Iran and South Africa are two major contributors to automotive TIC market growth
11 AUTOMOTIVE TIC MARKET FOR PERIODIC TECHNICAL INSPECTION SERVICES, BY REGION
- 11.1 INTRODUCTION
- 11.2 NORTH AMERICA
- 11.2.1 US IS MAJOR MARKET FOR PTI IN NORTH AMERICA
- 11.3 EUROPE
- 11.3.1 STRONG AUTOMOTIVE INDUSTRY IN GERMANY DEMAND PTI SERVICES IN EUROPE
- 11.4 APAC
- 11.4.1 CHINA TO EXHIBIT HIGHEST GROWTH RATE IN PTI MARKET IN APAC DURING 2019-2024
- 11.5 REST OF WORLD (ROW)
- 11.5.1 MARKET FOR PTI SERVICES IN ROW IS STILL IN NASCENT STAGE
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
(Business Overview, Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
- 13.1 KEY PLAYERS
- 13.1.1 DEKRA SE
- 13.1.2 TUV SUD
- 13.1.3 APPLUS+
- 13.1.4 SGS GROUP
- 13.1.5 TUV RHEINLAND AG GROUP
- 13.1.6 TUV NORD GROUP
- 13.1.7 BUREAU VERITAS S.A.
- 13.1.8 INTERTEK
- 13.1.9 EUROFINS
- 13.1.10 ELEMENT MATERIALS
- 13.2 OTHER KEY COMPANIES
- 13.2.1 BRITISH STANDARDS INSTITUTION (BSI)
- 13.2.2 RINA S.P.A.
- 13.2.3 NORGES ELEKTRISKE MATERIELLKONTROLL (NEMKO)
- 13.2.4 NSF INTERNATIONAL
- 13.2.5 ENGINEERING, QUALITY, AND SAFETY (EQS)
- 13.2.6 LLOYD'S
- 13.2.7 MISTRAS
- 13.2.8 DNV GL
- 13.2.9 UL LLC
Details on Business Overview, Services Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
14 APPENDIX
- 14.1 INSIGHTS OF INDUSTRY EXPERTS
- 14.2 DISCUSSION GUIDE
- 14.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 14.4 AVAILABLE CUSTOMIZATIONS
- 14.5 RELATED REPORTS
- 14.6 AUTHOR DETAILS
