Testing, Inspection and Certification Market Forecasts to 2028 – Global Analysis By Testing Mythology (External Condition, Internal Condition), Application (Production Evaluation, LFE), End User (Railway, Textile) and By Geography
According to Stratistics MRC, the Global Testing, Inspection, & Certification Market is accounted for $204.20 billion in 2020 and is expected to reach $315.77 billion by 2028 growing at a CAGR of 5.6% during the forecast period. The high demand for testing services to ensure effective interoperability of connected devices and networks, surge in illicit trade of counterfeit and pirated goods and advancements in networking and communication technologies are the major factorsdriving the market growth. However, diverse standards and regulations among many different nations and lack of skilled personnelare restraining the market growth.
The testing, inspection, certification (TIC) deliver services to the companies operating across different industrial verticals for the cause of enhancing the efficiency, productivity, manufacturing process to meet with the globally recognized standards, regulations and policies set by government to improve the quality of the product. It can be applied to any product, service or company. As there is constant innovation and growth in research and development the rise of medical equipment is high. Companies like Philips and Nokia healthcare develop equipment that meets the quality and safety standards to ensure that the product is safe for usage by both doctor and the patient.
Based on service type, the certification service segment is estimated to have a lucrative growth, due to certification services ensure product safety and performance attributes. Certification services mainly include customized audit and certification services with reference to quality, health and safety, environment, and social responsibility. These services aimed at improving business performance.
By geography, Asia Pacific is going to have high growth during forecast period, due to the presence of giant manufacturing electronic companies in countries such as China, Japan, India, Vietnam, the Philippines, Bangladesh, etc. The domestic markets in APAC are growing rapidly owing to the rising per capita income among the middle-class population. Moreover, there is growing consumer awareness about the importance of certification. TIC players are increasing their horizons by setting up their testing labs in APAC countries due to high potential for various applications in this region.
Some of the key players profiled in the Testing, Inspection, & Certification Market ALS Ltd, Applus+ ServiciosTecnologicos, S.L, Avomeen Analytical Services, Bureau Veritas SA, DekraSEDNV GL Group, Element Materials Technology, Envigo, Inc, Eurofins Scientific SE, Intertek Group PLC, Lloyd’s Register Group Limited, Medistri SA, Mistras Group, Inc., SGS Group (SGS SA) and Tuv Nord Group.
Estimated Market Size in 2020:
USD 204.20 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 315.77 billion
Tables, Graphs& Figures
|Sourcing Type, Service Type, Testing Mythologies, Application, Type, End User, Sales Channel, and Region|
Core Drivers and Opportunities:
Restraining Factors&Market Threats:
Sourcing Types Covered:
Service Types Covered:
• Certification Service
• Inspection Service
Testing Mythologies Covered:
• External Condition
• Internal Condition
• Certification and Valuation of Shipments
• Product Performance Evaluation
• Production Evaluation
• Quality and Safety Services
• Valuation of Imports With Respect To Standards
• Industrial Inspection
• Low-frequency Effects (LFE)
• Management Systems Certification
• Third-Party Inspection
• The American Society of Mechanical Engineers (ASME)
End Users Covered:
• Consumer Goods and Retail
• Agriculture and Food
• Construction and Infrastructure
• Energy and Power
• Manufacturing of Industrial Goods
• Medical and Life Sciences
• Mining & Minerals
• Oil & Gas and Petroleum
• Public Sector
• Transportation (Railway)
• Supply Chain and Logistics
• Information Technology (IT) and Telecommunications
• Sports & Entertainment
• Financial Institutions
• Travel & Tourism
• Apparel Industry
• Footwear Industry
• Handbags Industry
• Other End Users
Sales Channel Covered:
• Direct Sales
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years (2019, 2020, 2021, 2025, and 2028)
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Testing, Inspection, & Certification Market is majorly driven by high demand for testing services to ensure effective interoperability of connected devices & networks and advancements in networking and communication technologies.
The certification service segment is growing at a highest CAGR as certification services include adapted audit and certification services with reference to quality, health and safety, that ensure product safety and performance attributes.
Europe dominated with a significant market share due to the factors such as rising adoption of IoT devices, increasing mandatory certification and compliances by the government, presence of several industrial control and smart equipment manufacturers in region.
Asia Pacific market is growing at a highest CAGR owing to the presence of giant manufacturing electronic companiesand therising awareness about the importance of certificate in the region is propelling the market growth.
Key players in Testing, Inspection, & CertificationMarket include ALS Ltd, Applus+ ServiciosTecnologicos, S.L, Avomeen Analytical Services, Bureau Veritas SA, DekraSEDNV GL Group, Element Materials Technology, Envigo, Inc, Eurofins Scientific SE, Intertek Group PLC, Lloyd’s Register Group Limited, Medistri SA, Mistras Group, Inc., SGS Group (SGS SA) and Tuv Nord Group.
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