Testing, Inspection and Certification Market to Grow with a CAGR of 5.19% through 2028
Growing Consumer Awareness and Demands for Quality and
globalization of supply chains are likely to drive the market in the forecast
period.
According to TechSci Research report, “Testing,
Inspection and Certification Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Testing,
Inspection and Certification Market stood at USD 179.10 billion in 2022 and is
anticipated to grow with a CAGR of 5.19% in the forecast period. One of the primary drivers of the global Testing,
Inspection, and Certification (TIC) market is the increasing stringency of
regulatory requirements and safety standards across various industries and
regions. Governments and international organizations impose these regulations
to protect consumers, workers, and the environment, ensuring the safety,
quality, and reliability of products, services, and processes. For instance, in
the healthcare sector, rigorous regulations govern the safety and efficacy of
medical devices and pharmaceuticals. In the automotive industry, emissions
standards and safety regulations are continuously evolving. In food production,
stringent food safety standards are enforced to prevent contamination and
protect public health. The need for compliance with these regulations drives
businesses to seek TIC services. TIC companies conduct tests, inspections, and
certifications to verify that products and processes meet the required
standards. This includes product safety testing, environmental impact
assessments, workplace safety inspections, and more. As regulations become
increasingly complex and globally harmonized, the demand for TIC services
grows. Companies across industries rely on TIC providers to help them navigate
the intricate regulatory landscape, maintain compliance, and ensure the safety and
quality of their offerings.
The globalization of supply chains is a significant
driver of the global TIC market. Businesses today source materials, components,
and finished products from around the world to reduce costs, access diverse
markets, and remain competitive. However, this globalization introduces
complexities related to quality control, product safety, and compliance with
international standards. TIC services are essential for ensuring that products
meet the required standards and regulations, irrespective of their origin.
These services encompass pre-shipment inspections, product testing, and
certification, helping companies verify the quality, safety, and compliance of
imported and exported goods. Furthermore, TIC providers assist in assessing
supplier capabilities, conducting factory audits, and evaluating supply chain
risks. In an interconnected global economy, TIC services are indispensable for
businesses seeking to maintain the integrity of their supply chains, protect
their brand reputation, and meet the expectations of consumers worldwide. As
globalization continues to shape business practices, the TIC market is expected
to witness sustained growth, driven by the demand for quality assurance,
safety, and compliance across international supply chains.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Testing,
Inspection and Certification Market.”
The Global Testing, Inspection and Certification
Market is segmented into service type, sourcing type, industry, and region.
Based on service type, The testing segment had the largest
market share in 2022 & expected to maintain it in the forecast period. The
testing segment is a critical component of the global Testing, Inspection, and
Certification (TIC) market, playing a pivotal role in verifying the safety,
quality, and compliance of products, materials, and processes across various
industries. The testing segment spans a
wide range of industries, including manufacturing, automotive, aerospace,
healthcare, electronics, energy, and more. It involves the evaluation of diverse
products, materials, and systems, from medical devices and automotive
components to food products and industrial machinery. The breadth of
applications demonstrates the significance of the testing segment in assuring
the quality and safety of products and processes across industries. It supports
regulatory compliance, enhances consumer confidence, and mitigates risks
associated with substandard or unsafe products.
Based on industry, The Consumer goods and retail segment had
the largest market share in 2022 and is projected to experience rapid growth
during the forecast period. Consumer goods and retail businesses rely heavily
on TIC services to ensure the safety and quality of their products. This
includes testing products for compliance with safety standards, assessing
material quality, and conducting performance testing. TIC services play a
critical role in protecting consumers from potentially hazardous products, such
as toys with choking hazards or electronics with fire risks. They also help
maintain the reputation of brands by ensuring consistent product quality.
Major companies operating in Global Testing,
Inspection and Certification Market are:
- Bureau Veritas
- Intertek Group plc
- SGS S.A
- DNV AS
- UL International LLC
- TUV SUD
- ALS Limited
- Certification International Services
- Eurofins Scientific SE
- Mistras Group
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“The Global Testing, Inspection and Certification
market is expected to rise in the upcoming years and register a significant
CAGR during the forecast period. The growth of the TIC market is being driven by the
increasing demand for these services in various industries, such as
manufacturing, healthcare, and energy. In
the manufacturing industry, TIC services are used to ensure the quality and
safety of products. For example, testing is used to verify the performance of
products, inspection is used to identify defects, and certification is used to
ensure that products meet regulatory requirements. In the healthcare industry, TIC services are
used to ensure the safety and effectiveness of medical devices and drugs. For
example, testing is used to evaluate the safety and efficacy of drugs,
inspection is used to ensure that medical devices are manufactured according to
quality standards, and certification is used to ensure that medical devices
meet regulatory requirements. In the energy industry, TIC services are used to
ensure the safety and reliability of energy infrastructure. For example,
testing is used to verify the integrity of pipelines, inspection is used to
identify defects in power plants, and certification is used to ensure that
energy facilities meet regulatory requirements. Therefore, the
market of Testing, Inspection and Certification is expected to boost in the
upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Testing,
Inspection and Certification Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented
By Service Type (Testing, Inspection & Certification), Sourcing Type (In-house,
Outsourced), Industry (Consumer Goods & Retail, Agriculture &
Food, Chemicals, Oil & Gas, Manufacturing, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Testing,
Inspection and Certification Market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in
Global Testing, Inspection and Certification Market.
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