Global Testing Inspection and Certification Market, By Service Type (Testing, Inspection, Certification and Others), Sourcing Type (In-House Services and Outsourced Services), Application (Agriculture and Food, Construction, Life Science, Consumer Products, Transportation, Energy, Oil, Gas and Chemical, Mining, Industrial Machinery and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Rising preference and adoption of outsourcing models has led to the rise in demand for testing inspection and certification. Data Bridge Market Research analyses that the testing inspection and certification market will exhibit a CAGR of 5.21% for the forecast period of 2021-2028. This means that the current market value will rise up to USD 339.14 billion by the year 2028.
Testing inspection and certification is an assessment body or consists of conformity assessment bodies that lend services such as verification, quality assurance, auditing among others. The testing inspection and certification consists of both in-house and outsourced services whose main aim is to boost up the productivity of the company. The testing inspection and certification is widely used in every mostly end-user industry to comprehend the quality and safety standards. All the industries have to follow the safety norms, rules, and regulations set by the testing inspection and certification body.
Rapid urbanization, modernization, and the emergence of new industries are the root cause for the rise in demand for testing inspection and certification. Rising consumer awareness about quality control and safety standards is also propelling the growth in the demand for testing inspection and certification. The rising trend of outsourcing services to third parties has also bolstered the growth of the testing inspection and certification market.
Trade wars among the end-user industries are the major testing inspection and certification market growth restraint. Transportation and manufacturing industries having been hit badly due to the recent coronavirus outbreak have led to slowing down the testing inspection and certification market growth rate. Fluctuations in the prices of raw materials narrow down the scope of expansion for many industries and this in turn directly impacts the testing inspection and certification market.
This testing inspection and certification market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on testing inspection and certification market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Testing Inspection and Certification Market Scope and Market Size
The testing inspection and certification market is segmented on the basis of service type, sourcing type and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of service type, the testing inspection and certification market is segmented into testing, inspection, certification and others.
- On the basis of sourcing type, the market is segmented into in-house services and outsourced services.
- On the basis of application, the market is segmented into agriculture and food, construction, life science, consumer products, transportation, energy, oil, gas and chemical, mining, industrial machinery and others. Agriculture and food is further sub-segmented into seed and crop, fertilizers, food, pest control and fumigation and others. Construction is sub-segmented into building materials, infrastructure, capital equipment and others. Building materials are further bifurcated into material testing, material certification, coating inspection and failure analysis services and others. Life science is sub-segmented into pharmaceuticals, clinical trials, environmental and medical devices. Consumer products segment is sub-segmented into hard-line, soft line, electronic, household, personnel care and cosmetics and hazardous area equipment. Transportation is further sub-segmented into automotive, marine and offshore, railways, aerospace. Energy is further bifurcated into energy source, power generation, power distribution and others. Oil, gas and chemical segment is further sub-segmented into upstream, midstream, downstream, petrochemicals and others.
Testing Inspection and Certification Market Country Level Analysis
The testing inspection and certification market is analysed and market size, volume information is provided by country, service type, sourcing type and application as referenced above.
The countries covered in the testing inspection and certification market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific is projected to record the highest CAGR during the forecast period. This is because of the developing economies rapidly undergoing modernization, urbanization and various end user industries infrastructural development. Rise in personal disposable income and ever-rising population are some other growth determinants.
The country section of the testing inspection and certification market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Testing Inspection and Certification Market Share Analysis
The testing inspection and certification market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the testing inspection and certification market.
The major players covered in the testing inspection and certification market report are SGS SA, Bureau Veritas, Intertek Group plc, DEKRA, Eurofins Scientific, TÜV SÜD, Applus+, ALS Limited, Kiwa, RINA S.p.A., TÜV NORD GROUP, TÜV Rheinland, Lloyd's Register Group Services Limited., MISTRAS Group, Inc., Element Materials Technology, UL LLC, VDE Testing and Certification Institute GmbH, Keystone Compliance, FORCE TECHNOLOGY and HV Technologies, Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.