Oliver Sacks, neurologist & writer famously wrote about “Witty-Ticcy Ray” a surgeon with Tourette syndrome. Not an uncommon neurological syndrome in children tics are characterized by sharp involuntary movements and vocalizations.
Tics are irregular, uncontrollable, unwanted, and repetitive movements of muscles that can occur in any part of the body. Movements of the limbs and other body parts are known as motor tics. Involuntary repetitive sounds, such as grunting, sniffing, or throat clearing, are called vocal tics.
The global automotive TIC market was valued at USD 16.9 billion in 2019 and is expected to reach USD 22.1 billion by 2024, at a CAGR of 5.5%.
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 are the major factors propelling the automotive TIC market growth.The automotive industry is transforming at a faster rate owing to the development of cutting-edge technologies and stringent environmental regulatory policies.
This report on the automotive TIC market is a platform that explains applications, market trends, and varieties of TIC services, ranging from testing, inspection, and certification to auditing and quality control and assurance.
These services help automakers to improve their performance and products; ensure the reliability and integrity of their products, processes, assets, and systems; as well as mitigate risks while bolstering their brands.Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=175873215Among all service types, certification services are expected to witness the highest CAGR in the automotive TIC market during the forecast period.
In the current scenario, certification services are widely used by manufacturers to demonstrate if their products adhere to the government/regulatory mandates, as well as to improve the marketability of their offerings.Vehicle inspection services accounted for a majority share of the overall automotive TIC market in 2018.
DEKRA SE (Germany), a leader in vehicle inspection, expanded its inspection business in Denmark by acquiring AL-SYN ApS.
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.
