Global Testing, Inspection and Certification Market valued approximately USD 199.05 billion in 2018 is anticipated to grow with a healthy growth rate of more than 5.00% over the forecast period 2019-2026. The Testing, Inspection and Certification Market is continuously growing in the global scenario at significant pace. Testing, Inspection and Certification (TIC) sector consists of conformity assessments bodies who provide service ranging from auditing and inspection, to testing, verification, quality assurance and certification. The sector consist both in-house and outsourced services. TIC plays a significant role to ensure products, infrastructure, services are met with the suggested standards and regulations in terms of safety and quality. Advent of new technologies, increasing health safety measure, stringent environment norms have changed the entire industry outlook entirely with respect to the compliance of norms and regulations which ensure the safety of the individual, machines, buildings, etc. Surging demand in automotive sector for automotive testing, increasing disposable income, surging TIC in medical equipment sector, rapid urbanization and increased requirements for harmonized standards are the substantial driving factors of the market during the forecast period. Moreover, growth opportunities for small-sized and medium-sized business in the TIC ecosystem is the major factors that likely to create numerous opportunity in the near future. However, lack of skilled professionals and strict standards & regulations worldwide associated with TIC are the factors that limiting the growth of the market across the world.
The regional analysis of Global Testing, Inspection and Certification Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share due to implementation of safety regulation in the industries such as food & beverages, water & wastewater, chemicals and transportation & logistics in the region. North America is estimated to grow at stable growth rate in the global Testing, Inspection and Certification market over the upcoming years. Further, Asia-Pacific anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2026 owing to rising disposable income of the developing countries such as India and China and rising investment by private players in the technology sector across the region.
The leading market player included in this report are:
Bureau Veritas SA
Dekra Certification GmbH
Mistras Group, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service Type:
By Sourcing Type:
Construction & Engineering
Food & Healthcare
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2016, 2017
Base year - 2018
Forecast period - 2019 to 2026
Target Audience of the Global Testing, Inspection and Certification Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Publisher : Bizwit Research & Consulting LLP