Global Automotive Testing Inspection And Certification TIC Market Share Report 2024, Forecast To 2033

The automotive testing, inspection, and certification (TIC) market size has grown strongly in recent years. It will grow from $19.98 billion in 2023 to $21.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing vehicle recalls, growth in the automotive manufacturing sector, the rise in connected vehicle technologies, stronger brand protection policies, and increasing concerns about consumer safety. The automotive TIC market size is expected to see strong growth in the next few years, growing to $29.57 billion in 2028 at a CAGR of 8.2%. The growth in the forecast period can be attributed to an increasing reliance on software solutions, the growing risks posed by accidents, growing industrialization and infrastructure development, increasing popularity of electric vehicles (EVs), and rising concerns about vehicular pollution. Major trends in the forecast period include the development of advanced driver-assistance systems (ADAS), advancements in connected vehicles, increasing digitalization, and the rise of new automotive technologies.