Global Automotive Homologation Service Market Overview:
The growing need for assurance of safe and efficient vehicles among a large population, as well as stiffer laws in terms of automotive homologation around the world, might serve as major growth factors for the automotive homologation services market. Companies that provide automotive homologation services assist individuals in obtaining the necessary approvals to sell a vehicle in a specific market. The automotive homologation requirements are designed to improve vehicle safety, ensure environmental compliance, and ensure that vehicle parts are of good quality.
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Use of Innovative Software Tools for Homologation to Automate Administration
Market Growth Drivers:
Raising awareness among consumers about the safety and Growing transportation need for human as well as goods
Difficulties in Homologation Processes of Autonomous Vehicles with Artifcial Intelligence
Increasing lead time
Increasing foreign trade and Growing stringent automotive homologation regulations
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Intertek, DEKRA, SGS Group, Bureau Veritas, Eurofins Scientific, Lloyd's Register Foundation, MISTRAS Group and Formel D. Considering Market by Source , the sub-segment i.e. In House Services will boost the Automotive Homologation Service market. Considering Market by Vehicle, the sub-segment i.e. Motorcycle will boost the Automotive Homologation Service market.
In May 2022, Intertek, a leading total quality assurance provider announced the expansion of its service offerings to meet the increasing demand of safe and reliable testing for EVs and electric vehicle supply equipment technologies. The expansion doubles facility space to 200,000 square feet and makes Intertek’s one of the largest laboratories.
What Can be Explored with the Automotive Homologation Service Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Automotive Homologation Service Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Automotive Homologation Service
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Homologation Service market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Automotive Homologation Service market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants and Investors, Automotive Homologation Services Provider, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.