According to Stratistics MRC, the Global Testing, Inspection, & Certification Market is accounted for $204.20 billion in 2020 and is expected to reach $315.77 billion by 2028 growing at a CAGR of 5.6% during the forecast period. The high demand for testing services to ensure effective interoperability of connected devices and networks, surge in illicit trade of counterfeit and pirated goods and advancements in networking and communication technologies are the major factorsdriving the market growth. However, diverse standards and regulations among many different nations and lack of skilled personnelare restraining the market growth.
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By geography, Asia Pacific is going to have high growth during forecast period, due to the presence of giant manufacturing electronic companies in countries such as China, Japan, India, Vietnam, the Philippines, Bangladesh, etc. The domestic markets in APAC are growing rapidly owing to the rising per capita income among the middle-class population. Moreover, there is growing consumer awareness about the importance of certification. TIC players are increasing their horizons by setting up their testing labs in APAC countries due to high potential for various applications in this region.
Some of the key players profiled in the Testing, Inspection, & Certification Market ALS Ltd, Applus+ ServiciosTecnologicos, S.L, Avomeen Analytical Services, Bureau Veritas SA, DekraSEDNV GL Group, Element Materials Technology, Envigo, Inc, Eurofins Scientific SE, Intertek Group PLC, Lloyd’s Register Group Limited, Medistri SA, Mistras Group, Inc., SGS Group (SGS SA) and Tuv Nord Group.
Sourcing Types Covered:
• In-house
• Outsourced
Service Types Covered:
• Testing
• Certification Service
• Inspection Service
Testing Mythologies Covered:
• External Condition
• Internal Condition
Applications Covered:
• Certification and Valuation of Shipments
• Product Performance Evaluation
• Production Evaluation
• Quality and Safety Services
• Valuation of Imports With Respect To Standards
• Industrial Inspection
• Low-frequency Effects (LFE)
Types Covered:
• Management Systems Certification
• Third-Party Inspection
• The American Society of Mechanical Engineers (ASME)
End Users Covered:
• Consumer Goods and Retail
• Agriculture and Food
• Rail
• Chemicals
• Construction and Infrastructure
• Energy and Power
• Manufacturing of Industrial Goods
• Medical and Life Sciences
• Mining & Minerals
• Oil & Gas and Petroleum
• Public Sector
• Automotive
• Aerospace
• Marine
• Transportation (Railway)
• Supply Chain and Logistics
• Information Technology (IT) and Telecommunications
• Sports & Entertainment
• Government
• Financial Institutions
• Education
• Travel & Tourism
• Apparel Industry
• Footwear Industry
• Handbags Industry
• Textile
• Commercial
• Other End Users
Sales Channel Covered:
• Direct Sales
• Distributor
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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