Dublin, July 12, 2021 (GLOBE NEWSWIRE) -- The "Global Automotive Technical Inspection & Certification Services Market (2021-2026) by Services Type, Sourcing Type, Application and Geography - Competitive Analysis, Impact of COVID-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Technical Inspection & Certification (TIC) Services Market is estimated to be worth USD 17.90 Billion in 2021 and is expected to reach USD 25 Billion by 2026, growing at a CAGR of 6.9%.
Market Dynamics
The rising automotive Sector, increasing demand for quality and safety products, increasing Government testing and inspection regulations, and surging adoption of outsourcing TIC services are driving the TIC services market. In addition, rising incidences of product recall and continuous technological advancement have surged the market growth.
The increasing import-export of automotive and environmental focus initiatives are increasing the adoption of new inspection methods. However, stringent Government regulation across the globe is expected to hinder market growth.
Obligatory periodic testing of products and continuous automotive innovations are anticipated to provide lucrative opportunities to the market in the future.
Market Segmentation
- By Services Type, the market is classified as inspection, certification, and others. Amongst all, the inspection segment is estimated to hold the highest market share.
- By Sourcing Type, the market is classified as outsourcing and in-house sourcing. Amongst the two, the outsourcing segment is estimated to hold the highest market share during the forecast period.
- By Application, the market is classified as vehicle inspection service, electrical components and electronics, homologation testing, and others. Amongst all, the vehicle inspection service segment is estimated to hold the highest market share.
- By Geography, North America is projected to lead the market.
Recent Developments
- Bertrandt launches its own ball impact testing device which, will enable customers to perform independent testing of interior components impact resistance. - 28Th January 2021.
- Tech major Cognizant acquired Germany-based ESG Mobility, a digital automotive engineering R&D provider for connected, autonomous and electric vehicles. - 25th March 2021.
Company Profiles
Some of the companies covered in this report are Bureau Veritas S.A., Intertek Group plc, Eurofins Scientific, RINA S.p.A, Norges Elektriske Materiellkontroll, NSF International, Lloyd's Register Group Limited, etc.
Key Topics Covered:
1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size and Segmentation
3.3 Market Outlook
4 Market Influencers
4.1 Drivers
4.1.1 Growing Automotive Sector and Outsourcing Of TIC Services
4.1.2 Rising Incidences Of A Vehicle Recall
4.1.3 Increasing Awareness Of Safety and Product Quality
4.1.4 Strict Government Regulatory Standards On The Automotive Sector
4.2 Restraints
4.2.1 Varying Government Rules and Regulations Across The World
4.3 Opportunities
4.3.1 Increasing E-Commerce and Import & Export Of The Automotive
4.3.2 Continuous Innovations Through R & D
4.4 Challenges
4.4.1 Time Consumption For Testing and Inspecting
4.4.2 Cybercrimes Exploit Security Threats
4.5 Trends
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global Automotive Technical Inspection & Certification Services Market, By Service Type
6.1 Introduction
6.2 Inspection
6.3 Certification
6.4 Others
7 Global Automotive Technical Inspection & Certification Services Market, By Sourcing Type
7.1 Introduction
7.2 Outsourcing
7.3 In-house sourcing
8 Global Automotive Technical Inspection & Certification Services Market, By Application
8.1 Introduction
8.2 Vehicle Inspection Service
8.3 Electrical Components and Electronics
8.4 Homologation Testing
8.5 Others
9 Global Automotive Technical Inspection & Certification Services Market, By Geography
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Strategic Initiatives
10.3.1 M&A and Investments
10.3.2 Partnerships and Collaborations
10.3.3 Product Developments and Improvements
11 Company Profiles
- DEKRA SE
- AECOM
- APPLUS+
- ASTM International
- British Standards Institution
- Bureau Veritas S.A.
- DNV GL Group AS
- Element Materials Technology
- EQS - Engineerin. Quality and Safety
- Eurofins Scientific
- Intertek Group plc
- Lloyd's Register Group Limited
- MISTRAS Grou. Inc
- Norges Elektriske Materiellkontroll
- NSF International
- RINA S.p.A
- SGS GROUP
- TUV Nord Group
- TUV Rheinland Group
- TUV SUD Group
- UL LLC
For more information about this report visit https://www.researchandmarkets.com/r/ap54e6