LONDON--(BUSINESS WIRE)--The global automotive testing, inspection, and certification market is expected to post a CAGR of almost 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing focus on introducing sophisticated and advanced features has increased the use of AI, ML, IoT, and other smart technologies in vehicles. Some vehicle manufacturers are introducing advanced driver-assistance systems (ADAS), automatic high-beam control, and chassis control technologies to improve the safety of their vehicles. Moreover, the advent of self-driving technology has increased the use of cameras, sensors, laser scanners, brake actuators, and other sophisticated components in automobiles. The integration of such advanced technologies and components in vehicles has necessitated the need for stringent testing, inspection, and certification procedures in order to ensure the safety of vehicle occupants. Thus, the rise in technological advancements in automobiles, will lead to the growth of the automotive TIC market during the forecast period.
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As per Technavio, the emergence of digital TIC will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Testing, Inspection, and Certification (TIC) Market: Emergence of Digital TIC
Vendors in the market are adopting the latest technologies such as robotics and analytics to transform their service offerings. The advent of such technologies is replacing physical inspection of vehicles with digital inspection, predictive maintenance, and integrated sensors. For instance, digital TIC leverages the data generated by smart sensors in vehicles to carry out safety and security inspections and predictive maintenance. Some vendors are implementing AR and VR technologies in digital TIC to provide a more efficient and economical approach to testing automated vehicles. Hence, the emergence of digital TIC is expected to boost the growth of the market during the forecast period.
“The advent of over-the-air TIC for vehicles and the increasing need for TIC in connected vehicles are other factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Automotive Testing, Inspection, and Certification (TIC) Market: Segmentation Analysis
This market report segments the global automotive testing, inspection, and certification (TIC) market by sourcing type (in-house and outsourced) and geography (APAC, Europe, MEA, North America, and South America).
The European region led the market in 2018, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the European region is expected to maintain its dominance over the market. This is due to the growing demand for lightweight and electric commercial vehicles in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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