The global Testing, Inspection, Certification market worth US$ 256.9 Bn by 2032, growing at a CAGR of 1.8%
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Inspection, verification, testing, and certification services, as well as associated support tasks such as auditing, consulting, and training, are provided by companies. These services are designed to boost productivity, assist local manufacturers in meeting international standards, manage risk, and enhance the quality, safety, and compliance of a company's goods and services. Testing, inspection, and certification's major purpose is to guarantee that the health, safety, and quality requirements are met. Inspection, verification, testing, and certification services are provided by testing, inspection, and certification firms to help local manufacturers boost productivity and conform to worldwide standards.
The key causes for this surge in demand include an increasing need for security, a boom in the criminal trade of counterfeit and pirated goods, advances in networking and communication technology, regulatory requirements imposed by governments, and a desire for outsourced TIC services. The research on the global testing, inspection, and certification (TIC) market provides a comprehensive analysis of the industry. The study examines main market segments, trends, drivers, limitations, the competitive landscape, and other key market factors in depth. In the coming years, the growing sensitivity of various governments toward a cleaner environment, favorable initiatives, rules, and regulations in sectors such as healthcare and automotive, and the rapid adoption of digital technologies to radically transform TIC services are expected to contribute to the growth of the testing, inspection, and certification market. However, as trades and businesses become more globalized, different local norms and standards are likely to create hurdles to product acceptance on a worldwide scale. As a result, there are conflicts between local and international norms, limiting market expansion.
In the midst of the COVID-19 pandemic, the market is growing due to the use of modern technologies in the industrial, healthcare, and consumer electronics sectors, as well as the development of new services and solutions like as virtual inspections, visual inspections, and remote audits. TIC services are used in pharmaceutical, diagnostics, medical devices, clinical research, and digital health applications, particularly in the healthcare industry, where they have been at the vanguard in the fight against the COVID-19 pandemic. Pharmaceutical firms are working on medications, antidotes, and vaccinations to combat the infection. Companies are even developing novel diagnostic and treatment services for COVID-19 infection. Various nations invest vast sums on the treatment of their populations as well as vaccine research and development. Major research initiatives are being directed by highly qualified doctors, scientists, biologists, medical specialists, nurses, and other life sciences professionals all around the world. The COVID-19 epidemic has made several nations realize that their healthcare expenditures are insufficient. They must raise their expenditure to protect the world's people from the current crisis and future disasters. To create investments, development, and jobs, life sciences businesses must collaborate closely with multiple authorities and politicians through empowered working groups.
SGS, Bureau Veritas, Eurofins Scientific, Intertek, Dekra, TUV SUD, TÜV Rheinland, Applus, DNV GL, and ALS Worldwide, among others, are significant participants in the global Testing, Inspection, and Certification (TIC) market. The top five firms in the world control around 15% of the market.
Testing, Inspection, Certification Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2022-2023 |
| Forecast Period | 2022-2032 |
| Study Period | 2022-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | US$ 256.9 Bn |
| Growth Rate | CAGR of 1.8 % during 2022-2032 |
| Segment Covered | By Service Type, By Sourcing Type, By Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific,South America, Middle East and Africa |
| Key Players Profiled | SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Intertek Group Plc. (U.K.), TÜV Süd AG (Germany), Dekra SE (Germany), Eurofins Scientific SE (Luxembourg), TÜV Rheinland AG Group (U.S.), Element Materials Technology Ltd. (U.K.), Lloyd’s Register Group Limited (U.K.), APPLUS+ (Spain), AsureQuality (New Zealand), DNV GL (Norway), ALS Ltd. (Australia), Mistras Group (U.S.), and UL LLC (U.S.). |
Key Segments of the Global Testing, Inspection and Certification Market
Type Overview, (USD billion)
- Testing
- Inspection
- Certification
Source Overview, (USD billion)
- In-house
- Outsourced
Application Overview, (USD billion)
- Consumer Goods
- Food & Agriculture
- Oil & Gas
- Construction
- Chemicals
- Mining
- Machinery
- Transportation
- Automotive
- Power Generation
- Government Services
- Marine
- Healthcare
- Others (Finance, Process, etc.)
Regional Overview, (USD billion)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia-Pacific
- Middle East & Africa
- Middle East
- Africa
Reasons for the study
- The aim of the study is to provide a comprehensive view of the global testing, inspection, certification market industry.
- The segmentation by type, by source, by application of the global testing, inspection, and certification market is revealed in this report. The testing segment has gained immense importance and acts as a key segment of the testing, inspection, certification market for generating revenues.
- During research on the testing, inspection and certification services on a global level, we noticed that the use of the testing segment is expanding and being more often used by companies as their primary feature.
What does the report include?
- The study on the global testing, inspection, certification market covers factors including driving and restraining factors as well as opportunities
- Moreover, the market has been assessed using the value chain and PEST analysis
- The study covers qualitative analysis of the market segmented on the basis of type, source, application, and region. Moreover, the study provides comparable information for key geographies.
- Actual market data and projections have been given for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
This study is apt for industry members and shareholders in the global testing, inspection and certification industry, who want an in-depth insight into the market. The report will benefit:
- Executives of testing, inspection, and certification that are engaged in the testing and certification services.
- Venture capitalists and investors
- Financial & government organizations and regulatory bodies & policymakers
- Individual researchers, educators, analysts & strategy managers following the market and seeking insights to predict future strategies
