Testing, Inspection, & Certification - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Testing, Inspection, & Certification Market is accounted for $199.37 billion in 2018 and is expected to reach $357.39 billion by 2027 growing at a CAGR of 6.7% during the forecast period. Increase in disposable income and rapid urbanization in developing economies, high adoption of outsourcing of testing, inspection & certification services and diversified requirement of products and standard regulations are the major factors propelling the market growth. However, diverse standards and regulations across geographies are hampering the market growth.
Testing, Inspection, & Certification (TIC) stamps of different products and services are fundamental so as to confirm safety and quality and also to boost marketability. These kind of certifications supports in creating trusts in clients. Both state and privately organizations offer testing, inspection, & certification services. It has applications in all the industries that are mainly responsible for quality assessment.
Based on the end user, the agriculture and food segment is going to have a lucrative growth during the forecast period as these services for the agriculture industry are required to ensure quality and improve the productivity of food products. By geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to presence of giant manufacturing electronic companies in countries, rising per capita income among the middle-class population and growing consumer awareness about the importance of certification.
Some of the key players profiled in the Testing, Inspection, & Certification Market include Ul LLC, TUV SUD, TUV Rheinland, TUV Nord Group, SGS Group, Mistras, Intertek, Eurofins Scientific, Element Materials Technology, DNV Gl, Dekra Se, Bureau Veritas, Applus+ and ALS Limited.
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
Labeling Technique, Product, Application, End User, Treatment Type, Type, Method, Sales Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Sourcing Types Covered:
• Outsourced Services
• In-House Services
• Quality and Safety Services
• Production Evaluation
• Product Performance Evaluation
• Certification and Valuation of Shipments
• Industrial Inspections
End Users Covered:
• Consumer Goods and Retail
• Industrial and Manufacturing
• Construction and Infrastructure
• Agriculture and Food
• Energy & Power
• Medical and Life Sciences
• Oil & Gas and Petroleum
• Government & Public Sector
• Metal & Mining
• Aerospace & Defense
• Supply Chain and Logistics
• Sports & Entertainment
• IT and Telecom
• Water & Wastewater Management
• Travel & Tourism
• System Compliance
• 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 2017, 2018, 2019, 2023 and 2027
- 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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