Testing and Inspecting is a process performed primarily to certify that the manufactured products and component systems are suitable for the intended purpose. Testing an Inspection are done before, during and after manufacturing to ensure the quality of the product. Also the contribution to global warming is measured and inspected to control or minimize damage caused due to automotive industries. The steadily increasing volume of traffic and safety of users indicate towards the need for testing and inspection. One of the major trends in the automotive sector is automated driving assistance system. In the future, the connectivity of intelligent technologies will ensure that on an increasing number of routes, the task of driving will be taken over by the vehicle’s electronics which must be well tested and inspected by experts.
In automotive market testing is a key service, need to test the quality of each component before presenting it to the customers since a minor fault or error in the components can become a cause of a major risk. The quality of these components can be determined by using high-quality testing tools. There are different methods to test a component or device such as chemical testing, thermal shock testing, humidity resistance testing, tensile strength testing, salt spray testing, heat/ thermal resistance testing. Another service in the automotive market inspection which operates as follows pre-production, during production and final inspection. In pre-production inspection raw materials and are checked before production begins. During production inspection is typically carried out when an order is 20 to 60 percent complete, final inspection is generally carried out when an order is 80 to 100 percent finished.
The automotive market is extremely competitive. The increased awareness of consumer about safety standards, sustainable quality and operational excellence are positively impacting the growth of the automotive testing and inspection market. The key drivers for this market are synchronization of standards, rising consumption of goods in developing countries, increasing incidents of global product recalls, increase in global imitating & piracy activities, imposition of rigorous government regulations and standards for safety across different sectors. The testing and inspection companies in the automotive market are more conscious about their credibility than earlier. The main restrain for this market is lack of universal standards and regulations followed globally.
The automotive testing and inspection market can be segmented on the basis of service type, sourcing type, application, and geography. The service type is subdivided into Testing Services and Inspection Services. The sourcing type in automotive testing and inspection market can further be segmented as In-house sourcing and Outsourcing. By application the automotive testing and inspection market is subdivided into e-mobility and automotive research and development. Where E-mobility includes e-mobility services, vehicle services, battery services and infrastructure services. Whereas by Geography the automotive testing and inspection market is segmented as Europe, Asia Pacific (APAC), North America, South America and Middle East & Africa. Asia Pacific region is expected to show significant growth in testing and inspection automotive market due to increased growth in export of developed and developing countries in APAC region.
Many players are involved are TÜV SÜD GROUP, ,Intertek Group PLC, Bureau Veritas SA, SGS Group, ALS Ltd., AsureQuality Ltd., ASTM International, Dekra SE, Underwriters Laboratories Inc, Lloyd's Register Group Limited, and DNV GL. SGS Group is one of the leading companies in the automotive market for testing and inspection, followed by Bureau Veritas SA with a large contribution to the parent market share and high financial power, and provides a broad service portfolio in the testing and inspection market with strong technical expertise. SGS Group is focused on its continued growth through strategic partnerships, acquisitions and expansions to gain a competitive advantage. Bureau Veritas SA is focusing on an aggressive inorganic growth strategy by acquiring small companies. It has acquired more than 100 companies in the past 10 years.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.