Global Testing Inspection and Certification Market By Service Type (Testing, Inspection, Certification, Others), Sourcing Type (In-House Services, Outsourced Services), Applications (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), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Testing Inspection and Certification Market
Global Testing Inspection and Certification Market is expected to rise from its initial estimated value of USD 199.48 billion in 2018 to an estimated value of USD 294.05 billion by 2026, registering a CAGR of 4.97% in the forecast period of 2019-2026. Increasing preference for outsourcing service model is the major factor for the growth of this market.
Market Definition: Global Testing Inspection and Certification Market
Testing inspection and certification is a kind of a testing body which provide different services like inspection, verification, auditing, certification etc. The main aim of this service is to improve the productivity of the company. These days, TIC is widely used in industries like agriculture, medical, chemicals, constructions, oil & gas etc. to maintain the quality and safety standards.
- Rapid urbanization in many countries is expected to act as a driver to the market growth
- Increasing demand for integrated standards is another factor driving the market
- Long timing of the overseas qualification assessment is the factor restraining the market growth
- Trade wars among end user industries are another factor restraining the market growth
Segmentation: Global Testing Inspection and Certification Market
- By Service Type
- By Sourcing Type
- In-House Services
- Outsourced Services
- By Applications
- Consumer Goods and Retail
- Agriculture and Food
- Construction and Infrastructure
- Energy & Power
- Industrial and Manufacturing
- Medical and Life Sciences
- Oil & Gas and Petroleum
- Public Sector
- Supply Chain and Logistics
- IT and Telecom
- Sports & Entertainment
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In December 2018, Top companies of the testing, inspection and certification (TIC) industry announced the launch of the TIC Council. This council will be in Brussels and will consist of the 90 members of different companies. The main aim is to create a safe and sustainable surrounding for the people working in the trade business.
- In November 2018, SGS announced the launch of their online portal so that they can make the testing inspection and certification services available to customers in just one click. This will provide more than 100 services like fuel testing, supply chain solutions and pesticides analysis. The main aim is to provide customers the services that they desire easily anywhere.
Competitive Analysis: Global Testing Inspection and Certification Market
Global testing inspection and certification market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of testing inspection and certification market for global, Europe, North America, Asia-Pacific and South America.
Major Market Competitors/Players: Global Testing Inspection and Certification Market
Few of the major competitors currently working in testing inspection and certification 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, HV Technologies, Inc.
Research Methodology: Global Testing Inspection and Certification Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved