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The Automotive TIC Market is expected to grow from USD 16.5 Billion in 2020 to USD 20.5 Billion by 2025, at a CAGR of 4.3%.
Top Companies Profiled in the Automotive TIC Market:
- 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)
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.
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.
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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.
Breakdown of primary participants’ profile:
- 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%