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Automotive TIC Market Worth $17.2 billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Estimates and Forecasts by Meticulous Research®

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London, June 22, 2020 (GLOBE NEWSWIRE) — According to a new market research report titled, Automotive TIC Market by Service Type (Testing, Inspection, Certification), Sourcing, Supply Chain (Design, Production), Application (VIS, Materials, Components, EVs, Fuels, Lubricants, Homologation, ADAS, Telematics), and Geography– Global Forecast to 2027”, the automotive TIC market is expected to grow at a CAGR of 2.2% from 2020 to 2027 to reach $17.2 billion by 2027.Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4977Automotive testing, inspection, and certification services are performed to check the roadworthiness of a vehicle under different conditions and scenarios. This is a standard procedure performed by government-certified agencies to check whether a vehicle is capable to meet the current safety and performance standards regarding vehicles enacted by the governing bodies of a respective country. Currently, it is widely used by the manufacturers to show that their products are manufactured according to government standardization and regulations. It also helps the manufacturer to improve the marketability of their products. Ensuring safety and reliability in transportation services has become one of the key focus points for companies in the automotive testing, inspection, and certification market.The growth in the overall automotive TIC 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 for the market players. However, dynamic regulations/standards across different regions and lack of skilled resources can obstruct the growth of this market.Impact of COVID-19 on Automotive TIC MarketThe global economy has been severely impacted by the outbreak of COVID-19 pandemic. The auto industry has seen the impact of the coronavirus crisis evolve from a supply shock to a global demand shock. The uncertain time required for lockdown and supply chain disruptions has baffled industry players to project any possibility of resurgence in the automotive industry. Besides, a severe impact of the COVID-19 has also been observed on the consumer demand for new automobiles, which is expected to severely impact the global automotive industry as well as associated market such as automotive TIC market.According to data published by Autocar India Magazine, the global vehicle sales in March 2020 dipped to just above 5 million units and witnessed a significant drop of 39% compared to sales in March 2019. Top global automotive manufacturing countries including China, the U.S., Germany, the U.K. and India stood still in terms of manufacturing and sales during the first quarter of 2020. The U.S. and China registered double-digit decline in automobile sales; however, Europe witnessed the worst decline in more than 38 years. Combined sales of Europe-27 registered a drop of 52% compared to previous year. The losses made automotive companies fall back years and will certainly take a long time to regain their growth trajectory. However, sales in electric cars, especially in some European countries show positive signs of growth. Electric vehicles including hybrids, plug-ins, and full-electrics recorded a positive growth of 15% and total market share of 17.4% in the European countries. In order to counter the decline in sales, automotive companies are undertaking several measures to revive the market. Efforts such as complimentary services with the purchase of new vehicles, door step services, and insurance benefits are some of the few activities incorporated to attract new customers by several industrial players including Ford, Hyundai, General Motors, and Volkswagen AG, among others. Besides, local governments and organization are also offering incentive programs, tax benefits, and relief packages to mitigate the pandemic impact and rekindle the market to its original growth trajectory. Major automotive producing countries including Japan, South Korea, and India have already announced relief packages for manufacturing sectors including automotive sector. Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=4977The global automotive TIC market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented on the basis of services, location, supply chain services, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.Based on service type, the testing service segment is estimated to command the largest share of the overall automotive TIC market in 2020. The large share of this segment is attributed to the high demand for quality and safety products and strong recommendations from the regulatory authorities to ensure the safety, quality, and efficiency of the products. Besides, continuous investments in R&D activities by service providers to expand their presence and to provide test environment is expected to support the growth of this market segment. However, the inspection services segment is expected to grow at the fastest CAGR during the forecast period. Stringent rules for vehicle inspection to ensure governing safety, emissions, or both and growing consumer awareness about the safety & product quality are supporting the growth of the automotive inspection services market over the forecast period. Moreover, the increasing investment in the automotive inspection services industry by leading players is further expected to encourage the demand for these services.Based on sourcing type, the in-house segment is estimated to command the largest share of the overall automotive TIC market in 2020. Conducting in-house TIC services allow manufacturers to exert higher levels of control by keeping services and personnel under direct control; therefore, in-house services are likely to capture a larger share of the automotive TIC market. In-house services not only lower the risks associated with poor vehicle maintenance, including equipment failure and crashes, but also enable manufacturers to identify the problems instantaneously. However, the outsourcing segment is anticipated to grow with the fastest CAGR during the forecast period. Outsourcing help manufacturers to get access to skilled expertise, focus on core activities, manage the risks effectively, and increase in-house efficiency. Increasing demand for automotive testing, certification, and inspection services is placing a strain on the in-house TIC workforces and processes of companies that are anticipated to drive the fast growth of the outsourcing segment.Based on supply chain service, the operations segment is estimated to account for the largest share of the overall automotive TIC market in 2020. This can be attributed to the wide use of these services in vehicle damage evaluation and tracking after-sale issues to reduce the risks associated with the sale, delivery, and maintenance. However, the design services segment is expected to grow at the highest CAGR during the forecast period. Increasing concern regarding the safety & quality of vehicles is expected to encourage the demand for automotive design services. Besides, the growing adoption of electric vehicles and increasing deployment of connectivity technologies are also supporting the growth of the design services segment in the overall automotive TIC industry.Quick Buy – Automotive TIC Market Research Report: https://www.meticulousresearch.com/buy_now.php?pformat=276&vformat=820Based on application, the vehicle inspection services segment is estimated to account for the largest share of the overall automotive TIC market in 2020, which is primarily attributed to the growing government focus to implement legislation to reduce road accidents and environmental impact of non-compliant vehicles. However, the telematics segment is expected to grow with the fastest CAGR during the forecast period. The growth of this segment is mainly attributed to the increasing demand for fleet telematics, connected vehicle technologies, adoption of wireless communications, and integration of safety features into vehicles. Besides, the increasing government rules and regulations for the safety, security, and tracking of vehicles across the globe is supporting the growth of the automotive TIC services market for telematics.Geographically, the Asia-Pacific region is estimated to command the largest share of the global automotive TIC market in 2020. However, North America is expected to witness rapid growth during the forecast period. North America is one of the largest automotive manufacturing hubs in the world and vehicle production is a crucial constituent of the North American economy. The overall growth of the automotive TIC market in North America is primarily attributed to the easy availability of automotive TIC services, presence of major automotive manufacturers and easy availability of their forthcoming advanced services, consistently rising production of vehicles, and increasing R&D expenditure in automotive industry to improve the R&D labs and manufacturing facilities. Furthermore, the surge in the demand for electric vehicles coupled with favorable government policies as well as rising cases of vehicle recall also contributes to the fastest growth of this market in the North America region over the forecast period. For instance, in 2020, Honda Motor Co. Ltd. announced to recall 2.7 million, including 2.4 million U.S. and 0.3 million Canadian vehicles in North America for potentially defective airbag inflators. Similarly, Ford Motor Company announced to recall 0.3 million North American vehicles over safety concerns.The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4-5 years (2016–2020). The automotive TIC market has witnessed number of expansions in recent years. For instance, in February 2019, SGS S.A. has expanded its laboratory testing services at Manesar (Gurgaon), India, to provide airbag testing.The global automotive TIC market is consolidated and dominated by few major players, namely SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Intertek Group Plc. (U.K.), Dekra SE (Germany), TÜV SÜD (Germany), TÜV Rheinland Ag Group (U.S.), DNV GL (Norway), British Standards Institution (BSI) (U.K.), Norges Elektriske Materiellkontroll (NEMKO) (Norway), Eurofins Scientific SE (Luxembourg), Applus+ (Spain), TÜV Nord Group (Germany), Mistras Group (U.S.), Lloyd’s Register Group Limited (U.K.), and Element Materials Technology Ltd.(U.K.), among others.  To gain more insights into the market with a detailed table of content and figures, click here:  https://www.meticulousresearch.com/product/automotive-tic-market-4977/Scope of the Report
Automotive TIC Market by Service Type                            
TestingInspectionCertificationAutomotive TIC Market by Sourcing Type                          In-houseOutsourced          Automotive TIC Market by Supply Chain Services               DesignProductionDistributionSellingOperation                            Automotive TIC Market by Application                 Vehicle Inspection ServicesElectric Components and ElectronicsInterior and Exterior Materials and ComponentsElectric Vehicles, Hybrid Vehicles, and Battery SystemsAutomotive Fuels, Fluids, and LubricantsHomologation TestingAdvanced Driver Assistance Systems (ADAS) TestingDurability TestingOEM TestingTelematicsOthersAutomotive TIC Market by GeographyNorth AmericaU.S.CanadaEuropeUKGermanyFranceItalyRest of EuropeAsia-PacificChinaIndiaJapanRest of Asia-PacificLatin AmericaMiddle East and AfricaDownload Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4977Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research.phpRelated Reports:Automotive Engineering Services Market by Service Type (Concept, Prototyping, Testing), Application (Body Engineering, Powertrain, Infotainment, Chassis, Safety Systems, Electrical, Body Controls, Connected Cars), Vehicle Type – Global Forecast to 2027
https://www.meticulousresearch.com/product/automotive-engineering-services-market-5043/
Automotive Artificial Intelligence (AI) Market by Component (Hardware, Software), Technology (Machine Learning, Computer Vision), Process (Signal Recognition, Image Recognition) and Application (Semi-Autonomous Driving) – Global Forecast to 2027
https://www.meticulousresearch.com/product/automotive-artificial-intelligence-market-4996/
Automotive IoT Market by Platform (Data Management), Component (Sensor, GPS, Bluetooth, Wi-Fi), Data Converter (ADC), Connectivity (Embedded), End User (OEM), Application (ADAS, Fleet Management, Infotainment)– Global Forecast to 2025
https://www.meticulousresearch.com/product/automotive-iot-market-5071/
Automotive Lubricants Market by Product (Engine Oils, Transmission and Hydraulic fluids), Vehicle (Passenger Cars, Two/Three-Wheeler), Type (Mineral Oil, Synthetic, Semi-synthetic Lubricant), Sales Channel (OEM, Aftermarket) – Global Forecast to 2025
https://www.meticulousresearch.com/product/automotive-lubricants-market-5036/
Artificial Intelligence in Supply Chain Market by Component (Platforms, Solutions) Technology (Machine Learning, Computer Vision, Natural Language Processing), Application (Warehouse, Fleet, Inventory Management), and by End User – Global Forecast to 2027
https://www.meticulousresearch.com/product/artificial-intelligence-ai-in-supply-chain-market-5064/
About Meticulous Research®The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details.Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Mr. Khushal Bombe
Meticulous Research®
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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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