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Electric Vehicle Testing, Inspection, and Certification (TIC) Market Trends

Report ID: GMI8153
Published Date: Feb 2024
Report Format: PDF

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Electric Vehicle Testing, Inspection, and Certification Market Trends

The electric vehicle testing, inspection, and certification (TIC) industry growth is driven by rapid technological advancements in the automotive industry. This creates opportunities for service provider companies to invest in R&D and offering specialized testing solutions. The integration of automation, artificial intelligence in the automotive sector, and advancements in data analytics enables the creation of more efficient and cost-effective testing solutions. This results in reduced testing time and costs for manufacturers, enhancing accessibility to EV TIC services and propelling industry growth.

For instance, in January 2024, Applus+ collaborated with Idiada, a renowned automotive testing facility, to provide comprehensive testing solutions for connected car features. This collaboration involves leveraging 5G technology and simulating real events to conduct thorough tests on communication, cybersecurity, and performance, thereby ensuring the reliability of these advanced automotive functionalities.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of electric vehicle testing, inspection, and certification (TIC) reached USD 3.2 billion in 2023 and is set to witness over 9% CAGR from 2024 to 2032, due to the rising EV sales worldwide.

The in-house sourcing segment holds 54% share of the electric vehicle testing, inspection, and certification industry in 2023, owing to rising need to efficiently manage costs of testing and certification processes.

Asia Pacific market recorded around 30% revenue share in 2023, attributed to presence of advanced infrastructure, supportive government policies, and a well-established automotive industry in the region.

Some of the key electric vehicle testing, inspection, and certification market players are Applus+, Bureau Veritas, DEKRA SE, Eurofins Scientific, Intertek Group plc, Materials Technology, SGS SA, TUV Rheinland, TUV SUD, and UL LLC.