Testing Inspection And Certification Market
PUBLISHED: 2023 ID: SMRC23430
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Testing Inspection And Certification Market

Testing, Inspection & Certification Market Forecasts to 2030 - Global Analysis By Service Type (Inspection, Testing and Certification), Sourcing Type (Outsource and In-House), Application, End User and By Geography

4.2 (24 reviews)
4.2 (24 reviews)
Published: 2023 ID: SMRC23430

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $263.91 BN

Projected Year Value (2030)

US $432.15 BN

CAGR (2023 - 2030)

7.3%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Testing, Inspection & Certification Market is accounted for $263.91 billion in 2023 and is expected to reach $432.15 billion by 2030 growing at a CAGR of 7.3% during the forecast period. The testing, inspection, and certification (TIC) industry is made up of conformity assessment organisations that offer services including auditing, inspection, testing, verification, quality assurance, and certification. Since they assist in quality control, manufacturing cost reduction, rejection loss reduction, and assigning causes for the manufacture of faulty products, they are essential manufacturing process tools. TIC services guarantee excellent practises and goods that adhere to laws, safeguard people, and minimise negative effects on the environment.

According to the CSA Group Testing & Certification Organization Survey, around 69% of North American customers bought goods with the CSA and other certification marks in 2020.



Market Dynamics:

Driver:

Raising counterfeiters in pharmaceutical sector

Illegitimate marketplaces for fraudulent medications are alluring to counterfeiters due to the huge profit margins; low likelihood of being discovered and investigated, lenient punishments, and simplicity with which buyers may be duped into thinking the counterfeit goods are authentic. Globally, the sale of counterfeit and pirated items has sharply increased. All of these actions give testing, inspection, and certification professionals the chance to satisfy national standards for pharmaceutical manufacturing businesses quality requirements. Before produced goods are sold, these service providers also examine, evaluate, and approve them. This growing aspect of counterfeits is fuelling the market growth.

Restraint:

Lack of standards

Different nations, like the UK, Germany, and Norway, each have their own set of standards. This element affects the manufacturer's choice of whether to export to a specific nation or not. For various services and goods, there are distinct standards and laws. Meeting international standards frequently leads to higher expenses since doing so will probably require changing the design of a certain item or service. In this regard, stricter environmental laws addressing the kind and quantity of product packaging are anticipated in some nations than others. Thus, the market for testing, inspection, and certification is being constrained by a lack of globally recognised standards.

Opportunity:

Rising urbanization

Infrastructure development operations have increased in numerous developed and emerging economies as a result of expanding urbanisation. This is encouraging the use of TIC-related solutions by planners and other decision-makers, which helps to increase the security and ensure the calibre of infrastructure projects. Additionally, highly specialised equipment is needed for renewable energy projects like solar and wind energy, which means that effective TIC systems must be implemented to guarantee the operation of critical machine components. The expanding infrastructure and renewable energy generating projects present the global TIC industry with sizable potential prospects.

Threat:

High cost of services

TIC services avails high cost due to the numerous standards and regulations across different locations. When a company's operations are geographically diversified, rigorous regulatory standards become more difficult, expensive, and technically demanding. The expansion of the industry is also being hampered by disagreements between regional and global conventions, different tax rates, and overall higher business costs.

Covid-19 Impact

The usage of contemporary technology in the industrial, healthcare, and consumer electronics sectors skyrocketed during the COVID-19 epidemic, which was seen by the testing, inspection, and certification business. In addition, the worldwide market saw the emergence of fresh products and services including remote auditing, visual inspection, and virtual inspection. Pharmaceutical, diagnostic, medical device, clinical research, and digital health applications—all of which have been in the forefront of the COVID-19 pandemic response use TIC services. Even new test services were developed by businesses to identify COVID-19 infections and treat patients. Numerous countries have spent enormous sums on both the care of their citizens and the development of vaccines.

The in-house segment is expected to be the largest during the forecast period

The in-house segment is estimated to have a lucrative growth. Companies have total control over the whole process and production facility due to in-house testing services. Companies with in-house core business knowledge provide in-house testing services. The testing, inspection, and certification services are performed internally by highly qualified personnel for around 60% of the time. It encourages a true testing environment. The segment's growth is being aided by its inter-team effective communication, proactive measures, and real-time feedback mechanisms.

The medical & life sciences segment is expected to have the highest CAGR during the forecast period

The medical & life sciences segment is anticipated to witness the fastest CAGR growth during the forecast period. Medical devices like active implants, active/non-active implants, in-vitro diagnostic devices (IVD), ophthalmic devices, orthopaedic and dental devices, and vascular devices all require testing, inspection, and certification services in order to guarantee patient safety and wellbeing. Manufacturers can promote and sell medical gadgets abroad as a result of these services. Biocompatibility testing, electromagnetic compatibility (EMC) testing, clinical research, and wireless/telemedicine testing services are among the important testing, inspection, and certification practices used in the medical devices sector. These services guarantee the dependability and security of medical equipment. TIC services are anticipated to see a spike in demand as medical technology continues to progress.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. The US is North America's largest consumer of retail products and consumer goods. It serves as the foundation for many of the top businesses in the world. Start-up businesses are also well-represented in this region. Together, the US, Canada, and Mexico signed the North American Free Trade Agreement (NAFTA), which removed obstacles to cross-border trade in products and services. This agreement hugely brought awareness of testing, inspection, and certification services in the region. The market demand in this region is also quickening because of the rising environmental, health, and safety hazards, as well as the expanding storage of hazardous materials.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. Due to significant end-user investment in the manufacturing, electronics, and automotive sectors in growing nations like China, Japan, India, and others, this region has benefited tremendously. There are also other crucial essential firms there, including HTC Corporation, Toshiba Corporation, Siemens AG, and the General Electric Company. Numerous opportunities are opening up for TIC service providers as a result of the expansion of these electronics manufacturing companies' production facilities throughout Asia.



Key players in the market

Some of the key players profiled in the Testing, Inspection & Certification Market include Intertek Group PLC, Kiwa NV, SGS SA, TUV SUD Ltd, Bureau Veritas SA, Applus Services SA, UL Group, MISTRAS Group Inc., DNV GL, SAI Global Limited, Eurofins Scientific SE, BSI Group, Dekra Certification GmbH, ALS Limited and Element Metech (Exova Group PLC).

Key Developments:

In July 2022, UL Group, a global provider of safety certification services, announced the acquisition of Method Park, a German company specializing in software solutions, process engineering, training, and advisory services for the automotive, aerospace, and medical industries. The acquisition strengthens UL LLC ability to assist customers in advancing innovative safety, business transformation, and regulatory and standards compliance.

In February 2022, Applus+, one of the prominent players in testing, inspection, and certification, expanded its presence in Indonesia with ASME Certification (American Society of Mechanical Engineers). Their staff would assist customers with certification inspections and actively participate in the inspection process.

In January 2022, SGS and Microsoft announced a collaboration to create new digital TIC services. Microsoft's cross-industry knowledge, advanced data solutions, productivity platforms, and our global network and industry competency will be used to produce novel solutions for customers in this market.

In November 2021, DNV GL developed a hydrogen testing and research lab to assess the performance of components used in hydrogen transit and storage. The new facility is an enlargement of DNV's Columbus, Ohio-based materials performance and testing laboratory.

Service Types Covered:
• Inspection
• Testing
• Certification

Sourcing Types Covered:
• Outsource
• In-House

Applications Covered:
• Production Evaluation
• Quality & Safety
• System Certification
• Industrial Inspection
• Product Performance Evaluation
• Other Applications

End Users Covered:
• Agriculture
• Medical & Life Science
• Consumer & Retail Goods
• Construction & Infrastructure
• Chemical
• Energy & Power
• Industrial & Manufacturing
• Mining
• Aerospace
• Public Sector
• Supply Chain & Logistics
• Marine
• Oil & Gas
• Automotive
• IT & Telecommunication
• Sports & Entertainment
• Transportation
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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 2021, 2022, 2023, 2026, and 2030
- 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

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Testing, Inspection & Certification Market, By Service Type
5.1 Introduction
5.2 Inspection
5.3 Testing
5.4 Certification

6 Global Testing, Inspection & Certification Market, By Sourcing Type
6.1 Introduction
6.2 Outsource
6.3 In-House

7 Global Testing, Inspection & Certification Market, By Application
7.1 Introduction
7.2 Production Evaluation
7.3 Quality & Safety
7.4 System Certification
7.5 Industrial Inspection
7.6 Product Performance Evaluation
7.7 Other Applications

8 Global Testing, Inspection & Certification Market, By End User
8.1 Introduction
8.2 Agriculture
8.3 Medical & Life Science
8.4 Consumer & Retail Goods
8.5 Construction & Infrastructure
8.6 Chemical
8.7 Energy & Power
8.8 Industrial & Manufacturing
8.9 Mining
8.10 Aerospace
8.11 Public Sector
8.12 Supply Chain & Logistics
8.13 Marine
8.14 Oil & Gas
8.15 Automotive
8.16 IT & Telecommunication
8.17 Sports & Entertainment
8.18 Transportation
8.19 Other End Users

9 Global Testing, Inspection & Certification Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 Intertek Group PLC
11.2 Kiwa NV
11.3 SGS SA
11.4 TUV SUD Ltd
11.5 Bureau Veritas SA
11.6 Applus Services SA
11.7 UL Group
11.8 MISTRAS Group Inc.
11.9 DNV GL
11.10 SAI Global Limited
11.11 Eurofins Scientific SE
11.12 BSI Group
11.13 Dekra Certification GmbH
11.14 ALS Limited
11.15 Element Metech (Exova Group PLC)

List of Tables
1 Global Testing, Inspection & Certification Market Outlook, By Region (2021-2030) ($MN)
2 Global Testing, Inspection & Certification Market Outlook, By Service Type (2021-2030) ($MN)
3 Global Testing, Inspection & Certification Market Outlook, By Inspection (2021-2030) ($MN)
4 Global Testing, Inspection & Certification Market Outlook, By Testing (2021-2030) ($MN)
5 Global Testing, Inspection & Certification Market Outlook, By Certification (2021-2030) ($MN)
6 Global Testing, Inspection & Certification Market Outlook, By Sourcing Type (2021-2030) ($MN)
7 Global Testing, Inspection & Certification Market Outlook, By Outsource (2021-2030) ($MN)
8 Global Testing, Inspection & Certification Market Outlook, By In-House (2021-2030) ($MN)
9 Global Testing, Inspection & Certification Market Outlook, By Application (2021-2030) ($MN)
10 Global Testing, Inspection & Certification Market Outlook, By Production Evaluation (2021-2030) ($MN)
11 Global Testing, Inspection & Certification Market Outlook, By Quality & Safety (2021-2030) ($MN)
12 Global Testing, Inspection & Certification Market Outlook, By System Certification (2021-2030) ($MN)
13 Global Testing, Inspection & Certification Market Outlook, By Industrial Inspection (2021-2030) ($MN)
14 Global Testing, Inspection & Certification Market Outlook, By Product Performance Evaluation (2021-2030) ($MN)
15 Global Testing, Inspection & Certification Market Outlook, By Other Applications (2021-2030) ($MN)
16 Global Testing, Inspection & Certification Market Outlook, By End User (2021-2030) ($MN)
17 Global Testing, Inspection & Certification Market Outlook, By Agriculture (2021-2030) ($MN)
18 Global Testing, Inspection & Certification Market Outlook, By Medical & Life Science (2021-2030) ($MN)
19 Global Testing, Inspection & Certification Market Outlook, By Consumer & Retail Goods (2021-2030) ($MN)
20 Global Testing, Inspection & Certification Market Outlook, By Construction & Infrastructure (2021-2030) ($MN)
21 Global Testing, Inspection & Certification Market Outlook, By Chemical (2021-2030) ($MN)
22 Global Testing, Inspection & Certification Market Outlook, By Energy & Power (2021-2030) ($MN)
23 Global Testing, Inspection & Certification Market Outlook, By Industrial & Manufacturing (2021-2030) ($MN)
24 Global Testing, Inspection & Certification Market Outlook, By Mining (2021-2030) ($MN)
25 Global Testing, Inspection & Certification Market Outlook, By Aerospace (2021-2030) ($MN)
26 Global Testing, Inspection & Certification Market Outlook, By Public Sector (2021-2030) ($MN)
27 Global Testing, Inspection & Certification Market Outlook, By Supply Chain & Logistics (2021-2030) ($MN)
28 Global Testing, Inspection & Certification Market Outlook, By Marine (2021-2030) ($MN)
29 Global Testing, Inspection & Certification Market Outlook, By Oil & Gas (2021-2030) ($MN)
30 Global Testing, Inspection & Certification Market Outlook, By Automotive (2021-2030) ($MN)
31 Global Testing, Inspection & Certification Market Outlook, By IT & Telecommunication (2021-2030) ($MN)
32 Global Testing, Inspection & Certification Market Outlook, By Sports & Entertainment (2021-2030) ($MN)
33 Global Testing, Inspection & Certification Market Outlook, By Transportation (2021-2030) ($MN)
34 Global Testing, Inspection & Certification Market Outlook, By Other End Users (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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