Global TIC Services for Automotive Market Report 2020 Forecast to 2025

According to the new market research report "Automotive TIC Market by Service Type (Testing, Inspection, Certification), Sourcing Type, Application (Vehicle Inspection, Electrical Systems, & Components), and Geography; Periodic Technical Inspection Market, by Region - Global Forecast to 2024", 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 the automotive TIC 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.Browse 99 market data Tables and 35 Figures spread through 180 Pages and in-depth TOC on Automotive TIC Market Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=175873215 Vehicle inspection services to account for largest size of automotive inspection market, by application, during forecast periodVehicle inspection services (VIS) are offered by automotive TIC companies.

Used vehicle inspection is another innovative approach that can be employed if a vehicle is returned with damage beyond expectations (excessive wear and tear), which drastically impacts its resale value.

It is verified by the Vehicle Inspection Management System (VIMS), which takes the entire inspection process into consideration and provides a detailed cost analysis of every fault in the car.In-house automotive TIC service market for electric vehicles, hybrid electric vehicles, and battery systems is expected to grow at highest CAGR during forecast periodIn automotive applications, in-house testing for 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.

The market for electric vehicles is rapidly growing owing to factors such as increasing urbanization, growing demand for global hybrid vehicles, rising car sales in emerging markets, surging demand for air-conditioning systems with improved efficiency, and declining battery prices.

Electric and hybrid electric vehicles largely depend on their batteries, which act as energy storage systems.

The statistical surveying report on the global Automotive TIC Market has been presented by using professional or expert knowledge through standard and modified research approaches and forecasts.

The yearly forecast and predication for the years 2020 to 2025 have been enclosed by the report along with comprehensive analysis for all market segments and regions.

The statistical data derived from authentic resources and assisted by industry experts.

It likewise assesses the market by evaluating market elements, including drivers, restraints, opportunities, threats, challenges, growth prospects, and other market elements.

The global automotive TIC market report presents a complete research-based study of the industry including details such as company shares, forecast data, in-depth analysis and an outlook of the market on a worldwide platform.

This automotive TIC market report also splits the market by regions: Americas (United States, Canada, Mexico, Brazil), APAC (China, Japan, Korea, Southeast Asia, India, Australia), Europe (Germany, France, UK, Italy, Russia, Spain), Middle East & Africa (Egypt, South Africa, Israel, Turkey, GCC Countries).

The Automotive Testing, Inspection and Certification (TIC) sector consists of conformity assessment bodies that provide services ranging from auditing and inspection, to testing, verification, quality assurance and certification.The rising number of accidents, increasing automation in vehicles, advanced and more sophisticated components and features of a vehicle, increasing pollution, these are factors due to which demand for vehicle tasting and inspection is increasing day by day.In 2017, Europe dominated the automotive testing, inspection, and certification market with 43.7% share, thanks to the presence of some of the world’s leading automotive manufacturers and a steadily expanding domestic automotive industry.North America also accounts for a significant share in the global market owing to the well-established automotive sector.

In regions like Europe and North America, stringent rules for periodic vehicle inspection and testing are laid down so as to ensure the safety of human life.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-automotive-tic-2019-2024-77These regulations are also key drivers for the automotive testing, inspection, and certification market in these regions.According to this study, over the next five years the Automotive TIC market will register a 5.4% CAGR in terms of revenue, the global market size will reach US$ 18200 million by 2024, from US$ 14000 million in 2019.In particular, this report presents the global revenue market share of key companies in the Automotive TIC business, shared in Chapter 3.This report presents a comprehensive overview, market shares and growth opportunities of Automotive TIC market by product type, application, key companies and key regions.This study considers the Automotive TIC value generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.TestingInspectionSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.Passenger CarsCommercial VehiclesThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC CountriesThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.

The key manufacturers covered in this report: Breakdown data in in Chapter 3.DEKRAT?V S?D GroupBureau VeritasApplus ServicesSGS GroupIntertek GroupTV Rheinland GroupTV Nord GroupIn addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole.

It also analyzes key emerging trends and their impact on present and future development.Research objectivesTo study and analyze the global Automotive TIC market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of Automotive TIC market by identifying its various subsegments.Focuses on the key global Automotive TIC players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Automotive TIC with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the size of Automotive TIC submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.Get the Complete Report & TOC @ https://www.grandresearchstore.com/automotive-and-transportation/global-automotive-tic-2019-2024-77Table of content1 Scope of the Report1.1 Market Introduction1.2 Research Objectives1.3 Years Considered1.4 Market Research Methodology2 Executive Summary2.1 World Market Overview2.1.1 Global Automotive TIC Market Size 2014–20242.1.2 Automotive TIC Market Size CAGR by Region2.2 Automotive TIC Segment by Type3 Global Automotive TIC by Players3.1 Global Automotive TIC Market Size Market Share by Players3.1.1 Global Automotive TIC Market Size by Players (2017–2019)3.1.2 Global Automotive TIC Market Size Market Share by Players (2017–2019)3.2 Global Automotive TIC Key Players Head office and Products OfferedKey Que Answered in this report:What will the Global Automotive TIC Market?What are the key factors driving the Global Automotive TIC Market?What are the key market trends in the Automotive TIC Market?improve pasting the growth of this Automotive TIC Market?What are the challenges to the Automotive TIC Market?What are the market opportunities and threats faced by the Automotive TIC Market?What are the key outcomes of the five forces analysis of the Automotive TIC Market?What is our report offers:Strategic suggestions and proposals for the beginners to understandAssessments of the market share from different countries and regions were conductedTop key market players, market share analysis included.The market observations such as constraints, drivers, threats, opportunities, investment opportunities, challenges, and recommendations are added.The competitive landscaping mappings of the ongoing trends are discussed.Based on the market estimations, the strategic recommendations are made in the business segmentsCONTACT US:276 5th Avenue, New York, NY 10001, United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: [email protected] Us On LinkedIn:- https://www.linkedin.com/company/grand-research-store/