A new report by Astute Analytica studies the Global Automotive TIC Services Market during the forecast period from 2021-2027 and provides a detailed overview of the sector. The Global Automotive TIC Services Market is worth around $17.2 billion in 2020. During the analysis period of 2021-2027, the market is anticipated to grow at a compound annual growth rate (CAGR) of 4.8%.
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This study on the Global Automotive TIC Services Market thoroughly examines the market's upcoming trends and industrial dynamics. The Automotive TIC Services market research also includes analytical information such as market size, major trends, and key market players, and other growth prospects. This analysis report on the global Automotive TIC Services Market throws light on the data obtained from diverse sources, accompanied by the tools and techniques of SWOT analysis.
The purpose of a study report is to provide relevant information to the readers and helping them make business decisions. The broad documentation offers a variety of business insight and consulting services to assist clients in making future decisions and achieving long-term market success.
Key market trends such as technological advancement and competitor outlook are all mentioned in this analysis. Apart from that, the introduction of new technology and data on emerging trends is also added in the report. Five key forces that can influence the competitive environment include the introduction of new entrants in the industry, regional analysis, COVID-19 impact, availability of better substitute products/services, growing competitors, and their strategies.
The study would make it easier for new market players to assess the sector's potential and funding plans in the upcoming years. The report also looks at the goods, trends, and opportunities that may influence this market over the next several years.
Impact Analysis of COVID-19 on the Automotive TIC Services market
The COVID-19 virus was found in December and has already spread to practically every country. It has been labeled a public health emergency by the World Health Organization. The COVID-19 infection already has a significant impact on the market, and this will continue beyond 2021. More than 40 nations have declared states of emergency as a result of the COVID-19 epidemic.
The COVID-19 breakout since December 2019 has affected various nations. The business sector suffered heavy losses due to the decline in workers, lockdown, travel restrictions, and lack of raw materials. The impact of COVID-19 on the Global Automotive TIC Services Market is discussed in the report. It contains a summarized discussion of initial impact, current situation, future impact, and expected recovery options.
Regional Outlook: The Automotive TIC Services Market
The Automotive TIC Services market evaluates the growth of the market on the basis of regions. It explores factors like economic growth, social issues, technological developments, regional revenue, etc., of the top impacting regions.
The market is segmented into the following regions: North America, Europe, Asia Pacific, South America, the Middle East and Africa.
Scope of the Automotive TIC Services Market Report
By Service Type:
- Testing Service
- Inspection Service
- Certification Service
By Source:
- In-house
- Outsource
By Application:
- Advanced Driver Assistance Systems (ADAS) Testing
- Electrical and Electronics Market
- Electric Vehicles and Battery Systems
- Fuels, Fluids, and Lubricants
- Homologation Testing
- Interior and Exterior Material Components
- Telematics
- OEM Testing
- Vehicle Inspection Services
- Others
By Supply Chain Services:
- Design
- Production
- Distribution
- Selling
- Operation
Key Players: The Automotive TIC Services Market
The report also describes the working strategies and development of the prominent companies. This study also discusses the strategies of the players to outgrow the market competitors.
The Global Automotive TIC Services Market report covers major market players:
Applus Services S.A., Bureau Veritas, Dekra Se, Element Materials Technology, Eurofins Scientific, Lloyd’s Register Group Limited, Intertek Group PLC, TÜV NORD Group, TUV Rheinland AG Group and TUV SUD SGS among others.
About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
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SOURCE Astute Analytica
