Automotive TIC Market Projected to Reach $18.63 Billion by 2031

Automotive Testing, Inspection, and Certification (TIC) Market is projected to reach $18.63 billion by 2031, at a CAGR of 3.6% from 2024 to 2031. 

Meticulous Research® has published a new report titled ‘Automotive TIC Market—Opportunity Analysis & Industry Forecast to 2031.’ The report projects that the global automotive Testing, Inspection, and Certification (TIC) market will reach $18.63 billion by 2031, growing at a CAGR of 3.6% from 2024 to 2031.

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This growth is driven by the rise in automobile production, particularly in emerging markets, stricter automotive industry regulations, and an increasing number of vehicle recalls due to component failures. Other contributing factors include the growing adoption of electric vehicles (EVs), rising consumer awareness about product quality and safety, and increased use of connected devices in the automotive industry. Despite these growth drivers, the market faces restraints such as fluctuating regulations across different regions and a shortage of skilled personnel. Concerns about the reliability of new TIC service providers also present a challenge.

Market Segmentation

The automotive TIC market is categorized by service type, sourcing type, supply chain service, and application:

• Service Type: The market is segmented into testing services, inspection services, and certification services. Testing services are expected to hold the largest share in 2024 due to the need for ensuring vehicle quality and safety. However, inspection services are expected to grow at the fastest rate, driven by government regulations and increasing consumer awareness.
• Sourcing Type: The in-house services segment is expected to dominate in 2024, as companies prioritize process visibility and control. However, outsourced services are forecasted to grow at a higher CAGR due to cost-saving benefits, improved efficiency, and growing adoption by companies.
• Supply Chain Service: The operation segment is projected to account for the largest share in 2024, as automotive operation TIC services are crucial for evaluating vehicle damage and after-sales performance. However, the design segment is expected to grow at the highest rate due to increased focus on product quality during design and development stages.
• Application: Vehicle inspection services are expected to dominate the market, driven by government initiatives aimed at reducing road accidents. However, telematics is projected to grow the fastest, thanks to rising demand for connected vehicle technologies and fleet management solutions.

Regional Insights

Asia-Pacific is expected to hold the largest market share in 2024 due to economic growth, rising vehicle production, and favorable government policies. The region’s demand for autonomous and electric vehicles also contributes to its leading position. North America, however, is expected to experience the highest growth rate, driven by a strong automotive industry presence, increasing R&D investments, and rising vehicle recalls.

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Key Players

Key players in the global automotive TIC market include: SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Intertek Group Plc. (U.K.), Dekra SE (Germany), TÜV SÜD (Germany), TÜV Rheinland Ag Group (U.S.), DNV GL (Norway), British Standards Institution (BSI) (U.K.), Norges Elektriske Materiellkontroll (NEMKO) (Norway), Eurofins Scientific SE (Luxembourg), Applus+ (Spain), TÜV Nord Group (Germany), Mistras Group (U.S.), Lloyd’s Register Group Limited (U.K.), and Element Materials Technology Ltd. (U.K.).

These companies are investing in new technologies and expanding their services to meet the growing demand for testing, inspection, and certification services in the automotive sector.

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