Automotive Testing, Inspection, and Certification (TIC) Market Worth $17.2 Billion By 2027

The Automotive TIC Market is expected to reach $17.2 billion by 2027, at a CAGR of 2.2% during the forecast period of 2020 to 2027. The growth in this market is mainly driven by the factors such as growing automobile production in emerging economies, strict regulatory standards imposed by governments on the automotive industry, and consistently growing instances of vehicle recall due to component failure. Furthermore, the growing adoption of electric vehicles, growing awareness among consumers regarding product quality and safety, and incorporation of technological advancements with rising adoption of connected devices in automotive industry are offering growth opportunities to the market players.