Automotive TIC Market Growth Forecast to 2031
Meticulous Research ® —a leading global market research company, published a research report titled, ‘ Automotive TIC Market by Service (Testing, Inspection, Certification), Sourcing (In-house, Outsourced), Supply Chain Service, Application (Vehicle Inspection, ADAS, OEM Testing, Durability Testing, Telematics, Others), Geography - Global Forecast to 2031.’ According to this latest publication from Meticulous Research ® , the 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. The growth of this market is mainly driven by increasing automobile production in emerging economies, stringent regulations and standards in the automotive industry, and the consistently rising instances of vehicle recall due to component failure. However, dynamic regulations/standards across different regions and the lack of skilled personnel restrain the growth of the automotive TIC market. Furthermore, t...