Testing inspection and certification is a type of testing body which offers the assurance that the product developed is of good quality and safe for use by meeting the standards set by the national and international regulations authorities. This improves the productivity of the company. This is widely used in many application industries such as agriculture, medical, chemicals, construction, oil & sgas to maintain the quality check.
The main factors boosting the Testing Inspection and Certification Market are:
Rapid urbanization in many countries: Due to the rapid growth of the economy and increase in the level of income of the middle and high income group people, the demand for the quality products increases with the passage of time. Urbanization in the developing countries increases the welfare of the society. Quality check and standard is important indicator that will help consumers to use the product on their skin without any hesitation or confusion.
Increasing demand for integrated standards: With the change in the lifestyle of the growing population, the need of the integrated standards has been increased before the consumption of the product by an individual. The increasing demand enhances the product quality by inspecting the product manufactured. Testing inspection and certification service providers increased their services with the increased demand of the TIC services from different emerging markets.
The market is segmented on the basis of service type as testing, inspection, certification, others; sourcing type as in-house services, outsourced services; applications as consumer goods and retail, agriculture and food, chemicals, construction and infrastructure, energy & power, industrial and manufacturing, medical and life sciences, mining, oil & gas and petroleum, public sector, automotive, aerospace, marine, rail, supply chain and logistics, it and telecom, sports & entertainment.
Some of the recent Testing Inspection and Certification Market developments are as follows:
According to Data Bridge Market Research, Global Testing Inspection and Certification Market is expected to reach USD 294.05 billion by 2026, growing at a steady CAGR of 4.97% during the forecast period of 2019 to 2026
Some of the major players operating in the market are SGS SA, Intertek Group plc, Dekra, Eurofins Scientific, TÜV SÜD, DNV GL AS, TÜV Rheinland, Applus+, ALS Limited, TÜV NORD GROUP, Lloyd's Register Group Services Limited., MISTRAS Group, Inc., Element Materials Technology, UL LLC, VDE Prüf- und Zertifizierungsinstitut GmbH, Keystone Compliance, FORCE TECHNOLOGY and HV Technologies, Inc. among others.
With the rising testing inspection and certification, consumers are becoming aware regarding the quality of the product being produced in the market; manufacturers find solution from the TIC to give them a quality certificate of the product to gain the trust of the customer Regulating agencies will set the standard that will check the quality of product being launched in the market.
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Global Testing Inspection and Certification Market – Industry Trends and Forecast to 2026