The global testing, inspection, and certification market size are expected to reach $ 312.22 Billion by 2028 growing at the CAGR of 5.37% from 2021 to 2028. The TIC comprises adherence evaluation agencies providing services ranging from auditing, inspection, testing, quality assurance, and certification. In this industry, there are both in-house and outsourced services. Testing refers to the process of ensuring that produced goods, individual components, and multicomponent systems are accurate and comprehensive. Furthermore, Inspection and testing are operational aspects of quality control and is the important determinant in a manufacturing company’s existence. Cost, productivity, on-time delivery, and market share are all directly influenced by quality control.
|Market Size (2020)||$204.15 Billion|
|CAGR (2021 to 2028)||5.37%|
|Market Classification||Service Type, Sourcing Type, and Application|
|Key Companies Profiled||SGS Group, Bureau Veritas, Intertek, Dekra, Eurofins Scientific, TÜV SÜD, DNV, APPLUS+, ALS Limited, TÜV Nord Group, LLOYD’S Register Group Limited, Mistras, UL LLC, Apave International, OPUS Group, CSA Group, Cugnier, LENOR Group, KIWA|
|Key Countries/Regions Analyzed||US, Canada, Mexico, UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Norway, Rest of Europe, China, Japan, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Hong-Kong, Rest of Asia Pacific, South America, Middle-East & Africa, Brazil, Argentina, Saudi Arabia, United Arab Emirates, Iran, Iraq, South Africa, Oman|
|Forecast Years||2022 to 2028|
The global Testing, Inspection, and Certification market are being driven by several factors, including strict testing, inspection, and certification regulations are implemented, the rise of global trade and globalization, increasing testing, inspection, and certification service outsourcing, digital technology emerging.
A rise in infrastructure and renewable energy generation projects
The significant rise in infrastructure and renewable energy generation projects is expected to increase the demand for testing, inspection, and certification (TIC) market globally. For instance, In several established and developing economies, increased urbanization had resulted in increased infrastructure construction operations. This encourages planners and decision-makers to use TIC-based solutions to help improve infrastructure project safety and quality. Furthermore, renewable energy projects such as solar and wind energy necessitate highly specialized equipment that must operate at peak efficiency, necessitating the deployment of effective TIC systems to assure the proper operation of critical machine components.
The market for testing, inspection, and certification is hampered by the high cost of TIC services given the different norms and laws across different regions, and the adoption of innovative technology by smaller TIC providers.
Key Insight in the report:
The Global Testing, Inspection, and Certification market report covers Executive Summary, Market Dynamics, Trend Analysis, Market Size and Forecast, Competitive Intelligence, Market Positioning, Product Benchmarking, and Opportunity Analysis.
The report covers extensive competitive intelligence which includes the following data points:
- Business Overview
- Business Model
- Financial Data
- Financial – Existing
- Financial – Funding
- Product Segment Analysis and specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
Testing, Inspection and Certification Market Segmentation
The report covers market sizing and forecasting at the country level as well as at the segment level. Testing, Inspection and Certification Market is analyzed across below-mentioned different segments:
By Service Type
By Sourcing Type
- In-House Services
- Outsourced Services
- Consumer Goods & Retail
- Agriculture & Food
- Construction & Infrastructure
- Energy & Power
- Industrial & Manufacturing
- Medical & Life Sciences
- Oil & Gas And Petroleum
- Public Sector
- Supply Chain & Logistics
- IT & Telecom
- Sports & Entertainment
The Asia Pacific dominates the Testing, Inspection, and Certification market, which is attributed to rising economic development in countries such as China, India, Japan, and South Korea can be attributed to the large revenue share. As a result, the region’s industrial and manufacturing activities have increased, providing potential for the TIC industry to expand. Furthermore, Singapore’s quickly evolving Artificial Intelligence (AI) technology environment supports the development of software and programs, allowing for the expansion of testing and inspection services.
Europe is anticipated to rise in testing, inspection, and certification market over the forecast period. Moreover, The presence of a substantial automotive sector in Germany and France makes it easier for their companies to implement an effective testing and inspection ecosystem. Furthermore, the presence of various fashion brands, consumer goods companies, and retail businesses in nations such as Italy and the United Kingdom helps the regional market flourish and grow.
The Testing, Inspection, and Certification Market is analysed across the mentioned region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle-East & Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
Testing, Inspection, and Certification Market Players:
Some of the key players in the Testing, Inspection, and Certification Market include:
- SGS Group
- Bureau Veritas
- Eurofins Scientific
- TÜV SÜD
- ALS Limited
- TÜV Nord Group
- LLOYD’S Register Group Limited
- UL LLC
- Apave International
- OPUS Group AB
- CSA Group
- LENOR Group
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Testing, Inspection, and Certification market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Testing, Inspection, and Certification market historical market size for the year 2020, and forecast from 2021 to 2028
- Testing, Inspection, and Certification market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.