The automotive
TIC market is expected to grow
from USD 19.51 billion in 2018 to USD 27.66 billion by 2023, at a CAGR of 7.23%
from 2018 to 2023. Some key factors driving this market growth are increased automotive production worldwide, inclination toward
outsourcing TIC services, vehicle recalls due to failure of components,
enforcement of strict government regulations and standards in the automotive
sector worldwide, increasing deployment of electronic systems in the automotive
industry, and growing awareness among consumers about safety.
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The report considers DEKRA SE (Germany), TÜV SÜD Group (Germany),
Applus Services S.A. (Spain), SGS Group (Switzerland), and TÜV Rheinland Group
(Germany) as the major players, providing their market ranking analysis. The
report covers other key players in this market. TÜV Nord Group (Germany),
Bureau Veritas S.A. (France), Intertek Group PLC (UK), Eurofins Scientific
(Luxembourg), Element Materials Technology (UK), Lloyd’s Register Group Limited
(UK), MISTRAS Group, Inc. (US), UL LLC
(US), DNV GL Group AS (Norway), SAI Global Pty Limited (Australia), British Standards Institution (BSI) (UK), RINA S.p.A.
(Italy), Norges Elektriske Materiellkontroll (NEMKO)
(Norway), NSF International Inc. (US), EQS (Engineering,
Quality, and Safety) (Portugal), and Olympus (Japan) are the other
key players in this market. Mergers & acquisitions and expansions are the
major strategies adopted by these players to compete in the automotive TIC market.
Leading players in the Automotive
TIC market:
DEKRA SE is a world leader in vehicle inspection. The company has a strong
presence in the automotive and industrial segments, which contribute to more
than 80% of its overall business revenue. The company provides high-quality
services to customers with the commitment of “anytime and anywhere” service
availability. The company also focuses on providing services without impacting
the environment and human safety. DEKRA SE supports industry innovation by
providing support to small and midsized enterprises (SMEs), as well as large
corporations to execute projects in healthcare, environment, and safety. The
company is strategically adopting and implementing its solutions to gain
worldwide acceptance and to maintain its reputation. In October 2016, DEKRA SE
expanded its product testing portfolio by inaugurating a new laboratory in
Shanghai for testing automotive components and materials; this will help the
company to address the growing demand for Internet of Vehicles (IoV) and
electromobility.
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TÜV SÜD Group is one of the world’s leading technical services organizations. It
offers a comprehensive service portfolio including auditing and system
certification, inspection, knowledge services, testing and product
certification, and training solutions. The company operates in more than 50
countries with facilities in 800 locations spread across Europe, the Americas,
APAC, the Middle East, and Africa. The company adopted service expansion and
acquisition as the major strategy to expand its business footprint. For
instance, in February 2016, the company acquired ATISAE Group (Spain), a
leading provider of testing and inspection services. This acquisition not only
strengthened the company’s business operations in Spain but also consolidated
its position in Western Europe.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
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