Global Testing, Inspection and Certification Market Size, Share & TIC Industry Overview Report, 2020-2027

The GMI Research's latest analysis reveals that the Testing, Inspection, & Certification Market is slated to register a significant CAGR over the forecast period. This is attributed to the rising construction, infrastructure, and manufacturing industries, the strong demand for the regulation of materials, processes, and systems, followed by the rising penetration for outsourcing the TIC services.

Dublin, Ireland -- (SBWIRE) -- 03/19/2021 -- Testing, Inspection and Certification Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The rising construction, infrastructure, and manufacturing industries, the strong demand for the regulation of materials, processes, and systems, followed by the rising penetration for the outsourcing of the TIC services worldwide, are the key drivers contributing to the growth of the testing, inspection, and certification market size. As per the testing, inspection, and certification market report, numerous communication and networking technological advancements, application of strict regulation regarding the safety of the environment, health and quality, and growth in the illicit trade of pirated & counterfeit goods is increasing the need for testing, inspection, and certification of such goods, thus surging the market growth. According to the testing, inspection, and certification market overview, the growing demand for testing, inspection & certification services in the emerging countries, increasing export and trade of goods between the nations will open doors for the growth of the market. On the other hand, variation in standards and regulations across various countries and limited skilled personnel will hinder the market growth.

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Testing, Inspection, & Certification Market's leading Manufacturers:

- Bureau Veritas SA
- DEKRA SE
- SGS Group
- Eurofins Scientific
- Intertek Group PLC
- DNV GL Group AS
- Applus+
- TUV SUD AG
- ALS Limited
- TUV Rheinland Group

Service type Segment Drivers

Based on the service type, the certification is anticipated to rise at a higher CAGR in the upcoming years due to the high adoption of such services as it aids in improving the performance and the safety regarding the products. The social responsibility, environment, quality, and other services involved in certification is boosting productivity and performance of the business, thereby stimulating the growth of the market.

Application Segment Drivers

Based on the application, the agriculture & food is projected to rise at a higher CAGR in the upcoming years due to the strong adoption of testing, inspection & certification in this application as it consists of various principles for sustainability, safety, and others. Such principles need close and regular monitoring, which will further fuel the market growth.

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Regional Drivers

Based on the region, Asia-Pacific is predicted to increase at a faster CAGR in the coming years due to the growing urbanization, developing markets, such as India, China, and Japan, and the strong presence of the major leading players for the manufacturing of electronic components. Additionally, the rise in the per capita income and government initiatives for the development of different application areas, including manufacturing, automotive, and agriculture, and other industries, will further augment the growth of the market.

Testing, Inspection, & Certification Market Segmentation:

Segmentation by Service Type:

- Testing
- Inspection
- Certification
- Others

Segmentation by Sourcing Type:

- In-house Services
- Outsourced Services

Segmentation by Application:

- Agriculture & Food
- Construction & Infrastructure
- Consumer Goods & Retail
- Chemicals
- Energy & Power
- Medical & Life Sciences
- Industrial & Manufacturing
- Oil & Gas and Petroleum
- Mining
- Aerospace
- Automotive
- Public Sector
- Railways
- Marine
- IT & Telecom
- Supply Chain & Logistics
- Others

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

About GMI Research
GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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