USD
Report ID: SQMIG45C2025 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 135 | Figures: 77
Global Testing, Inspection, and Certification Market size was valued at USD 224.92 billion in 2021 and is poised to grow from USD 236.84 billion in 2022 to USD 358 billion by 2030, growing at a CAGR of 5.30% in the forecast period (2023-2030).
Testing, inspection, and certification services include audits and inspection, as well as testing, verification, quality assurance, and certification of products and equipment, which aid in enhancing manufacturing efficiency and reducing errors by limiting risk. TIC services are used across oil and gas industry, food industry, pharmaceuticals, and chemical industry, among industries.
Covid Impact
During the COVID-19 pandemic, the testing, inspection, and certification market witnessed an explosion in the use of modern technologies across industrial, healthcare, and consumer electronics sectors. Apart from this, the global market experienced development of new services and solutions like as virtual inspections, visual inspection, and remote auditing. TIC services are being used in pharmaceutical, diagnostics, medical devices, clinical research, and digital health applications, which have been in the forefront of the fight against the COVID-19 pandemic. Pharmaceutical firms are working on medications, antidotes, and vaccinations to combat the infection. Companies are even creating new test services to diagnose COVID-19 infection and cure patients. Various governments are investing vast sums on the treatment of their inhabitants as well as vaccine research and development.
US Testing, Inspection, And Certification (TIC) Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD
Largest Segment
food industry
Fastest Growth
food industry
Growth Rate
5.30% CAGR
To get more reports on the above market click here to Buy The Report
Global testing, inspection, and certification market is segmented by service type, sourcing type, application, industrial vertical, and geography. By type, the market is segmented into testing, inspection, and certification. By source, the market is bifurcated into two in-house and outsource. Based on applications, it is segmented into quality and safety, production assessment, industrial inspection, system certification, and others. The market is segmented by industrial vertical into medical & life science, consumer goods & retail, agriculture & food, chemical, construction & infrastructure, energy & power, industrial & manufacturing, mining, oil & gas and petroleum, public sector, automotive, aerospace, marine, rail, supply chain & logistics, it & telecommunication, sports & entertainment, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Testing, Inspection, and Certification Market Analysis by Industrial Vertical
The oil and gas industry are expected to hold sizable share of the global testing, inspection, and certification market. With inspection and testing at regular intervals becoming obligatory in a select industry, such as oil and gas, TIC services are likely to rise in demand, regardless of industry seasonality. TIC suppliers provide comprehensive quality assurance throughout multiple phases of the oil and gas supply chain, including testing, inspection, and certification, as well as technical, consulting, engineering, and other related services, as part of their technical offerings. Because production and storage are dynamic and dependent on market fluctuations, the business presents a unique set of issues for operators.
To get detailed analysis on other segments, Request For Sample Report
Asia Pacific is projected to grow at the fastest CAGR in the global testing, inspection, and certification market on account of high reliance of many European and American countries on APAC-based companies for medical devices, personal protective equipment (PPE) kits, pharmaceuticals, and other necessary equipment. Apart from this, India and China have become hub for increased research and development activities in the field of autonomous and connected cars (new and improved technologies). The growth is further supported by improved lifestyles and increased prevalence of acquired infection. As a result, the regional testing, inspection, and certification market is projected to witness a considerable growth in the investments coming for R&D activities.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Testing, Inspection, and Certification Market Driver
Testing, Inspection, and Certification Market Restraint
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Global testing, inspection, and certification market has become very competitive, with numerous prominent and local players present across the globe. Despite its fragmentation, the industry is controlled by three major firms namely SGS, Bureau Veritas, and Intertek, which are holding around 23% of the global market. On the other hand, top ten players accounting for less than 38% of the TIC market. Enterprises in fields like as health sciences, utilities, and the public sector continue to rely on in-house TIC services. These businesses are relying on strategic collaboration activities to improve their share and profitability in the testing, inspection, and certification market
Testing, Inspection, and Certification Market Top Player's Company Profiles
Testing, Inspection, and Certification Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
To gain a competitive edge over the global testing, inspection, and certification market, some of the leading players have started investing in R&D. Because of increased R&D expenses to meet shifting requirements, the electrical and electronics sector is expected to grow rapidly.
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Report Metric | Details |
---|---|
Market size value in 2021 | USD |
Market size value in 2030 | USD |
Growth Rate | 5.30% |
Base year | 2021 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Data-sheets-value="{"1":3,"3":236.84}" |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Testing, Inspection, And Certification (TIC) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Testing, Inspection, And Certification (TIC) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Testing, Inspection, And Certification (TIC) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Testing, Inspection, And Certification (TIC) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
SPEAK TO AN ANALYSTGet lifetime access to our reports
Basic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOWWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQMIG45C2025