Automotive TIC Market Research Report By Product Type (Tire Pressure Monitoring Systems (TPMS), Traction Control Systems (TCS), Electronic Stability Control (ESC), Anti-Lock Braking Systems (ABS), Adaptive Cruise Control (ACC)), By Vehicle Type (Passenger Cars, Commercial Vehicles (CV), Two-Wheelers, Electric Vehicles (EV), Hybrid Vehicles), By Application (Safety, Comfort, Convenience, Automated Driving, Vehicle Dynamics Control) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Automotive Tic Market Overview:

As per MRFR analysis, the Automotive Tic Market Size was estimated at 31.36 (USD Billion) in 2022. The Automotive Tic Market Industry is expected to grow from 33.76(USD Billion) in 2023 to 65.6 (USD Billion) by 2032. The Automotive Tic Market CAGR (growth rate) is expected to be around 7.66% during the forecast period (2023 - 2032).

Key Automotive Tic Market Trends Highlighted

Key market drivers for automotive telematics include rising demand for connected vehicles, increasing adoption of advanced driver-assistance systems (ADAS), and government regulations mandating safety features. Growing awareness of the benefits of telematics, such as improved safety, convenience, and fuel efficiency, is also driving market growth. In addition, advances in communication technologies, including 5G and IoT, are enabling new and innovative telematics applications. Opportunities exist for players in the automotive telematics market to capitalize on the integration of artificial intelligence (AI) and machine learning (ML) algorithms to enhance the accuracy and efficiency of telematics systems. Furthermore, collaborations between automakers, telecommunications companies, and technology providers are expected to create new opportunities for the development and deployment of advanced telematics solutions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Automotive Tic Market Drivers

Growing Demand for Enhanced Vehicle Safety and Security

As the automotive industry continues to advance, there is a growing demand for enhanced vehicle safety and security features. This is being driven by a number of factors, including the increasing number of road accidents, the rising cost of vehicle theft, and the growing awareness of the importance of personal safety. Automotive telematics plays a vital role in meeting this demand by providing a range of features and services that can help to improve vehicle safety and security.

For example, telematics systems can be used to track vehicle location, monitor driving behavior, and provide emergency assistance. They can also be used to deter theft by immobilizing the vehicle or tracking its location if it is stolen. The growing demand for enhanced vehicle safety and security is expected to be a major driver of growth for the Automotive TIC Market Industry in the coming years.

Increasing Adoption of Connected and Autonomous Vehicles

The increasing adoption of connected and autonomous vehicles is another major driver of growth for the Automotive TIC Market Industry. Connected vehicles are equipped with a range of sensors and devices that allow them to communicate with other vehicles, infrastructure, and the cloud. This connectivity enables a number of advanced features and services, such as real-time traffic updates, remote diagnostics, and over-the-air software updates.

Autonomous vehicles are vehicles that can operate without human input. They are still in the early stages of development, but they have the potential to revolutionize the automotive industry. As connected and autonomous vehicles become more widely adopted, the demand for automotive telematics will increase.

Government Regulations and Standards

Government regulations and standards are also playing a role in driving the growth of the Automotive TIC Market Industry. In many countries, governments are implementing regulations that require new vehicles to be equipped with certain telematics features. For example, in the United States, the National Highway Traffic Safety Administration (NHTSA) has proposed a rule that would require all new vehicles to be equipped with a rearview camera by 2018.

These regulations are expected to boost the demand for automotive telematics in the coming years.

Automotive TIC Market Segment Insights:

Automotive TIC Market Product Type Insights

The Automotive TIC Market is currently valued at 33.76 USD Billion, reflecting a growing trend towards advanced vehicle technologies. Within this framework, product types like Tire Pressure Monitoring Systems (TPMS), Traction Control Systems (TCS), Electronic Stability Control (ESC), Anti-Lock Braking Systems (ABS), and Adaptive Cruise Control (ACC) play significant roles in ensuring vehicle safety and performance. TPMS presents a noteworthy valuation of 7.5 USD Billion in 2023, projected to reach 15.0 USD Billion by 2032, showcasing its importance in monitoring tire pressure and enhancing fuel efficiency, thus dominating a considerable share of the market.

The TCS, with a valuation of 6.0 USD Billion, is vital for vehicle stability during acceleration and is expected to double to 12.0 USD Billion by 2032. This market growth indicates a heightened focus on traction control as an integral component for maintaining driver safety, emphasizing its relevance in the automotive industry. In the case of ESC, valued at 8.0 USD Billion in 2023 and targeting 16.0 USD Billion by 2032, its significant function in preventing skids and loss of control further establishes its critical position, indicating a robust demand from both manufacturers and consumers.
ABS, valued at 5.5 USD Billion in 2023 and likely to rise to 11.0 USD Billion by 2032, enhances safety by preventing wheel lock-up during braking, which provides an additional layer of security for vehicle operators. Meanwhile, ACC, valued at 6.7 USD Billion currently and projected to reach 11.6 USD Billion, serves a pivotal role in the transition towards automated driving, appealing to tech-savvy consumers and contributing to the overall market growth. The diverse Automotive TIC Market segmentation reveals an industry focused on promoting advanced safety features, driven not only by regulatory pressure but also by the growing consumer demand for innovative technologies that enhance driving experience and safety.

Each product type within this sector demonstrates a significant trajectory, reflecting a collective push towards strategic advancements and parent market growth. The combination of these factors consistently aligns with the upward trends in consumer safety expectations and OEM innovations, solidifying the relevance of these automotive technologies in everyday vehicular use.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Automotive TIC Market Vehicle Type Insights

This market encompasses diverse categories, such as Passenger Cars, Commercial Vehicles (CV), Two-Wheelers, Electric Vehicles (EV) and Hybrid Vehicles. Passenger Cars remain a key area, showcasing robust demand driven by consumer preferences for personal mobility solutions. Commercial Vehicles (CV) are increasingly vital due to rising logistics and freight activities globally, highlighting their importance in economic growth.

The Two-Wheeler segment is also noteworthy, being influential in many developing regions for affordability and ease of use, offering a practical solution for urban transportation challenges. Electric Vehicles (EVs) are gaining traction, propelled by advancements in technology and heightened environmental awareness, making them a focal point for future investments. Hybrid Vehicles represent a significant middle ground, combining traditional and electric propulsion systems, catering to consumers seeking flexibility. As the Automotive TIC Market continues to evolve, each vehicle type contributes uniquely to the market growth, driven by changing consumer demands and regulatory trends favoring sustainability.

Automotive TIC Market Application Insights

Within the Application segment, areas such as Safety, Comfort, Convenience, Automated Driving, and Vehicle Dynamics Control play crucial roles in shaping market dynamics. Safety applications continue to dominate due to heightened regulations and consumer preference for safer driving experiences. Comfort and Convenience applications cater to evolving consumer expectations for modern vehicle features, significantly enhancing the overall driving experience.

Automated Driving has seen substantial investment and innovation, driven by advancements in artificial intelligence and sensor technologies, reflecting its increasing importance in the automotive industry. Vehicle Dynamics Control remains vital for enhancing performance and stability, further underscoring the necessity for precise testing and certification processes within the Automotive TIC landscape. The aforementioned areas are projected to drive significant market growth, presenting various opportunities for manufacturers and service providers in the sector as consumer preferences evolve.

Automotive TIC Market Regional Insights

North America dominates this regional landscape, benefiting from a robust automotive industry and stringent regulations that drive the demand for testing, inspection, and certification services. Europe follows closely, with a strong focus on advanced automotive technologies and sustainability initiatives, making it a significant market as well, estimated to reach 19.0 USD Billion by 2032.

The Asia Pacific region holds a valuation of 8.5 USD Billion in 2023 and is anticipated to be a major growth driver due to its rapidly evolving automotive sector and increasing vehicle production. In contrast, South America, valued at 2.5 USD Billion, and the Middle East and Africa, valued at 2.76 USD Billion, present smaller markets but offer untapped opportunities for expansion, especially in improving quality standards and regulatory practices. Overall, the Automotive TIC Market segmentation reveals diverse growth dynamics across regions, influenced by local automotive development, regulatory environments and market needs.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Automotive Tic Market Key Players And Competitive Insights:

Major players in the Automotive Tic Market industry are constantly striving to gain a competitive edge by introducing innovative technologies and expanding their product portfolios. Leading Automotive Tic Market players are focusing on developing advanced systems that enhance vehicle safety and efficiency. The Automotive Tic Market is characterized by intense competition, with established players and emerging startups vying for market share. Strategic partnerships, acquisitions, and mergers are common strategies employed by companies to strengthen their position in the market. The Automotive Tic Market is witnessing rapid development, driven by technological advancements and increasing demand for connected and autonomous vehicles.

A prominent competitor in the Automotive Tic Market, Robert Bosch GmbH, is a global leader in automotive technology. The company offers a wide range of Automotive Tic Market solutions, including advanced driver assistance systems (ADAS), infotainment systems, and powertrain components. Bosch is known for its commitment to innovation and its focus on developing cutting-edge technologies that enhance the driving experience. The company has a strong global presence and a diverse product portfolio, which gives it a competitive advantage in the market.

Another key competitor in the Automotive Tic Market, Continental AG, is a leading supplier of automotive components and systems. The company offers a comprehensive range of Automotive Tic Market products, including tires, brakes, powertrain components, and electronics. Continental is known for its expertise in vehicle dynamics and its focus on developing innovative solutions that improve safety and efficiency. The company has a strong global presence and a wide customer base, which gives it a competitive edge in the market.

Key Companies in the Automotive Tic Market Include:

• Delphi Technologies


• Harman International Industries, Incorporated


• Bosch


• Magneti Marelli


• Lear Corporation


• Aptiv


• Continental AG


• Denso Corporation


• Hyundai Mobis


• ZF Friedrichshafen AG


• BorgWarner Inc.


• Delphi Automotive LLP


• Valeo


• Samvardhana Motherson Group

Automotive Tic Market Industry Developments

The Automotive Telematics Market size was valued at USD 33.76 billion in 2023 and is projected to reach USD 65.60 billion by 2032, exhibiting a CAGR of 7.66% during the forecast period. The market growth is attributed to the increasing adoption of connected cars, growing demand for vehicle safety and security features, and government regulations mandating the installation of telematics devices in new vehicles. The market is expected to witness significant growth in the coming years due to the rising popularity of electric vehicles and autonomous driving technologies.

Recent news developments in the Automotive Telematics Market include the launch of new products and services by major players, such as the introduction of a new telematics platform by Verizon and the partnership between AT&T and Toyota to develop connected car solutions.

Automotive Tic Market Segmentation Insights

1. Automotive TIC Market Product Type Outlook
   
   
   
   1. Tire Pressure Monitoring Systems (TPMS)
   
   
   2. Traction Control Systems (TCS)
   
   
   3. Electronic Stability Control (ESC)
   
   
   4. Anti-Lock Braking Systems (ABS)
   
   
   5. Adaptive Cruise Control (ACC)
   
   
   
   

2. Automotive TIC Market Vehicle Type Outlook
   
   
   
   1. Passenger Cars
   
   
   2. Commercial Vehicles (CV)
   
   
   3. Two-Wheelers
   
   
   4. Electric Vehicles (EV)
   
   
   5. Hybrid Vehicles
   
   
   
   

3. Automotive TIC Market Application Outlook
   
   
   
   1. Safety
   
   
   2. Comfort
   
   
   3. Convenience
   
   
   4. Automated Driving
   
   
   5. Vehicle Dynamics Control
   
   
   
   

4. Automotive TIC Market Regional Outlook
   
   
   
   1. North America
   
   
   2. Europe
   
   
   3. South America
   
   
   4. Asia Pacific
   
   
   5. Middle East and Africa