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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