Global Testing, Inspection and Certification Market is projected to reach USD 249.4 billion by 2030 from USD 207.2 billion in 2021; it is expected to grow at a CAGR of 3.8% from 2021 to 2030.
Testing, Inspection, and certification (TIC) stamps of different products and Services are essential in order to ensure safety and quality to improve marketability. These services are helpful in developing trusts among customers. Rapid industrialization and urbanization expected to grow the market in near future.
Drivers: Increasing Outsourcing of TIC Services and Introduction of Stringent Regulations
Rise in outsourcing of TIC functions and ever-tightening regulations are among the key factors that will push the demand for testing, inspection and certification services over the near future. As per the estimations, nearly 40% of the market is currently outsourced, while the remaining of TIC services carried out in-house
Push towards the outsourcing and also the privatization of state-owned laboratories will continue to be a strong driver of the growth. It’s not all one-way traffic though, and the outsourced model cannot rely solely on its third-party accreditation capability as justification for continued growth.
Moreover, increased level of regulations have triggered a transition from a voluntary-based risk management approach to mandatory testing services – for instance, the recent high profile vehicle emission scandal. Further, the tragic Grenfell tower fire highlighted the critical need for standards an certification in the maintenance and construction of public infrastructure.
Evolving regulatory landscape is an intrinsic part of the TIC industry and continue to generate new opportunities for firms matching their client’s needs
Increase in demand for testing services to ensure effective interoperability of connected devices and networks is the key driving factor which is expected to boost the global testing, inspection, and certification (TIC) market growth. Furthermore, rise in advancements in networking and communication technologies will have the positive impact on market growth. Moreover, rise in TIC services growth opportunities for small and medium sized businesses will propel the market growth. In addition to that, rapid globalization will drive the testing, inspection, and certification (TIC) market growth.
Restraints: Lack of Internationally Accepted Standards Among Different Geographies
Lack of internationally accepted standards is one of the key restraining factor impacting the expansion of testing, inspection and certification market. Various countries have their own set of standards. This factors influences the decision-making of the manufacturer, whether to export or not to a given country
Standards and regulations vary between different types of services and product. Meeting the international standards often results in a increased cost, as it is likely to lead to the changing of design of a particular product or service. For instance, environmental regulations regarding the type and amount of packaging used for products is expected to be strict in some countries as compared to the others.
Further, it has been observed that requirement of standards in countries with a high per-capita income are generally higher, as compared to countries with a lower per-capita income. This restraint is very common in the pharmaceutical sector, as it becomes highly challenging for the rug manufacturer to develop a single drug which can be readily approved in all countries it is submitted. Considering this factors, a lack of internationally accepted standards pose a threat to the expansion of the market
However, diverse standards and regulation in various countries are the restraining factors which are expected to hamper the global testing, inspection, and certification (TIC) market growth.
However, diverse standards and regulation in various countries are the restraining factors which are expected to hamper the global testing, inspection, and certification (TIC) market growth.
Global Testing, Inspection, and Certification (TIC) Market is segmented into service type such as Inspection, Testing, and Certification, by system type such as In-House, and Outsourced. Further, market is segmented into end use industry such as Chemicals, Agriculture and Food, Medical and Life Sciences, Oil & Gas, and Petroleum, Consumer Goods and Retail, and Others.
Also, Global Testing, Inspection, and Certification (TIC) Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Various key players are discussed in this report such as SGS GROUP, BUREAU VERITAS, INTERTEK, DEKRA SE, EUROFINS SCIENTIFIC, TÜV SÜD, DNV GL, TÜV RHEINLAND, APPLUS+, ALS LIMITED, and TÜV NORD GROUP
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Testing, Inspection, and Certification (TIC) Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Testing, Inspection, and Certification (TIC) Market, By Service Type
5.1 Y-o-Y Growth Comparison, By Service Type
5.2 Global Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
5.3 Global Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Service Type
5.3.1 Inspection
5.3.2 Testing
5.3.3 Certification
6 Global Testing, Inspection, and Certification (TIC) Market , By System Type
6.1 Y-o-Y Growth Comparison, By System Type
6.2 Global Testing, Inspection, and Certification (TIC) Market Share Analysis, By System Type
6.3 Global Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
6.3.1 In- House
6.3.2 Outsourced
7 Global Testing, Inspection, and Certification (TIC) Market, By End Use Industry
7.1 Y-o-Y Growth Comparison, By End Use Industry
7.2 Global Testing, Inspection, and Certification (TIC) Market Share Analysis, By End Use Industry
7.3 Global Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
7.3. 1 Chemical
7.3.2 Agriculture & Food
7.3.3Medical & Life Sciences
7.3.4Oil & Gas and Petroleum
7.3.5Consumer Goods and Retail
7.3.6Others
8Global Testing, Inspection, and Certification (TIC) Market, By Region
8.1 Global Testing, Inspection, and Certification (TIC) Market Share Analysis, By Region
8.2 Global Testing, Inspection, and Certification (TIC) Market Share Analysis, By Region
8.3 Global Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Region
9 North America Testing, Inspection, and Certification (TIC) Market Analysis and Forecast (2017 – 2030)
9.1 Introduction
9.2 North America Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
9.3 North America Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
9.4 North America Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
9.5 North America Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10Europe Testing, Inspection, and Certification (TIC) Market Analysis and Forecast (2017 – 2030)
10.1 Introduction
10.2 Europe Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
10.3 Europe Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
10.4 Europe Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
10.5 Europe Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.54. Rest of Europe
11Asia Pacific Testing, Inspection, and Certification (TIC) Market Analysis and Forecast (2017 – 2030)
11.1 Introduction
11.2 Asia Pacific Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
11.3 Asia Pacific Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
11.4 Asia Pacific Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
11.5 Asia Pacific Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12Latin America Testing, Inspection, and Certification (TIC) Market Analysis and Forecast (2017 – 2030)
12.1 Introduction
12.2 Latin America Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
12.3 Latin America Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
12.4 Latin America Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
12.5 Latin America Testing, Inspection, and Certification (TIC) Market Size and Forecast, Country
13Middle East Testing, Inspection, and Certification (TIC) Market Analysis and Forecast (2017 – 2030)
13.1 Introduction
13.2 Middle East Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
13.3 Middle East Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
13.4 Middle East Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
13.5 Middle East Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Country
14Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15Company Profiles
15.1 SGS GROUP
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 BUREAU VERITAS
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 INTERTEK
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 DEKRA SE
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 EUROFINS SCIENTIFIC
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 TÜV SÜD
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 DNV GL
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 TÜV RHEINLAND, APPLUS+
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 ALS LIMITED
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10TÜV NORD GROUP
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
