COVID-19 market impact analysis anticipates Neutral and at Par growth for the automotive testing, inspection, and certification (TIC) market, while 36% of the market’s growth will originate from Europe during the forecast period, according to Technavio report Global automotive testing, inspection, and certification (TIC) market with COVID-19 analysis.
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Technavio has announced its latest market research report titled Global TIC Market 2020-2024 (Graphic: Business Wire)
The automotive industry is undergoing significant transformation with the implementation of artificial intelligence and machine learning in vehicles. Automotive manufacturers are increasingly focusing on offering products with advanced and sophisticated features such as the Internet of Things (IoT), advanced driver-assistance systems (ADAS), automatic high-beam control, and chassis control. Also, vehicles use sensors, cameras, laser scanners, and brake actuators to move with little or no human intervention. The implementation of such advanced components and features will require stringent testing, inspection, and certification procedures to ensure the safety of passengers. The rise in technological advancements in automobiles will be a significant factor fueling the automotive testing, inspection, and certification market. Furthermore, this industry research report also presents a competitive analysis of the market by type ((in-house and outsourced) and geography (Europe, North America, APAC, MEA, and South America).
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Competitive vendor landscape
The global automotive testing, inspection, and certification (TIC) market is highly competitive with major vendors such as ALS Ltd., Applus+ Services Technologies SL, Bureau Veritas, DEKRAÂ SE, Eurofins Scientific SE, Intertek Group Plc, Mistras Group Inc., SGS SA, TUV NORD GROUP, and TUV SUD AG. competing based on price, quality, and market presence.
“Apart from the technological advancements in automobiles, the growing automotive industry and increase in vehicle recalls are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Top Five Automotive Testing, Inspection, and Certification (TIC) Market Vendors
ALS Ltd. operates its business under various segments such as life sciences, commodities, and industrial. The company provides diagnostic testing and engineering solutions for the transportation sectors.
Applus+ Services Technologies SL
Applus+ Services Technologies SL operates its business under four segments, which include IDIADA division, automotive division, laboratories division, and energy & industry division. The company offers services such as statutory vehicle inspections for government programmes, driver-testing inspections, public-service vehicle inspections, off-leasing vehicle inspections, vehicle condition, emission and registration inspection, and road-safety education.
Bureau Veritas has business operations under various segments, namely marine & offshore, agri-food & commodities, industry, buildings & infrastructure, certification, consumer products. The company offers services such as testing, inspection, and certification.
DEKRAÂ SE operates its business under nine segments, which include vehicle inspection, claims and expertise, product testing, industrial inspection, consulting, audits, training, temp work, and others. The company offers periodic mandatory inspections, emission tests, specific periodic inspections, non-periodic inspections, examination and registration, services management, road safety campaigns, and contact vehicle inspection.
Eurofins Scientific SE
Eurofins Scientific SE operates its businesses in Western Europe, North America, and Rest of the World. The company offers electrical product safety testing, battery testing, performance testing, radio and wireless testing, tire testing, acoustic testing, and others.
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Table of Contents:
Value chain analysis
Five Forces Analysis
Market Segmentation by Type
Comparison by Type
In-house – Market size and forecast 2019-2024
Outsourced – Market size and forecast 2019-2024
Market opportunity by Type
Europe – Market size and forecast 2019-2024
North America – Market size and forecast 2019-2024
APAC – Market size and forecast 2019-2024
MEA – Market size and forecast 2019-2024
South America – Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
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