Testing, Inspection and Certification (TIC) is a
method of providing services to companies operating across various industrial
verticals for the purpose of improving productivity, efficiency, and
manufacturing process for manufacturers to meet with globally recognized
standards, regulations, and policies set by governments to improve the quality
of a product. Global
Testing Inspection and Certification Market Analysis & Forecast to 2023
provide detailed analysis of the market structure, along with forecast of the
various segments and sub-segments of the (TIC) market .Testing and inspection
have increased the efficiency and productivity of various automotive
organizations by reducing the cost and time for delivery, managing and
controlling supply chain at each manufacturing stage, improving aftermarket
sales and distribution, increasing the safety, and reducing the impact on
environment and road safety.
Certification
and testing in aviation reduces risk, increases safety, security, and profits
by identifying and managing operational risks, managing and reducing accidents,
delaying risks, and reviewing training and procedures to increase the
consistency and operational continuity.
The
prominent players in the TIC market are SGS group (Switzerland), Bureau Veritas
SA (France), Dekra Certification GmbH (Germany), Intertek Group Plc (U.K), ALS
Limited (Australia), ASTM International (U.S.), BSI Group (U.K), SAI Global
Limited (Australia), Mistras Group (U.S.), and UL LLC (U.S.), among others. Global
Testing Inspection and Certification Market provide insights about factors
affecting the market growth, analyze the virtual reality market based on
Porter's five forces analysis, provide historical and forecast revenue of the
market segments and sub-segments, with respect to four main geographies and
their countries-North America, Asia Pacific, Europe, and the Middle East and
Africa, provide country level analysis of the market with respect to current
market size and future prospects, provide country level analysis of the market
for segmentation on the basis of sourcing type, service type, end-user, and
application, provide strategic profiling of key players in the market,
comprehensively analyze their core competencies, and draw a competitive
landscape for the market, track and analyze competitive developments, such as
joint ventures, strategic alliances, mergers & acquisitions, new product
developments, and research & developments in the TIC market.
The global
testing inspection and certification market is expected to reach USD 58.38
billion by 2023.By sourcing type, the market was dominated by in-house
sourcing in 2017. The outsourcing type is expected to show the highest growth
rate during the forecast period 2017 to 2023.By service type, testing service has dominated the market at
USD 21.63 billion in the year 2017. The certification service is expected to show
the highest CAGR during the forecast period 2017 to 2023.By end-user,
automotive has dominated the market at USD 8.59 billion in the year 2017. The
food & beverage end-user segment is expected to show the highest CAGR
during the forecast period 2017 to 2023.
By application, the industrial has dominated the
market at USD 27.25 billion in the year 2017. Commercial application is
expected to show the highest CAGR during the forecast period 2017 to 2023.Geographically,
North America dominated the market in 2016. Asia Pacific will show the highest
growth rate during the forecast period 2017 to 2023.Regional and country
analysis of global testing inspection and certification market estimation and
forecast
The global testing inspection and certification
market by region was led by North America in 2016 at 35.66% of the market
share. Large presence of electronics, software, defense and aviation industry,
and advancements in medical equipment automation are supporting the market
growth. Asia Pacific stands as the second biggest market with a market share of
31.34% and is considered the fastest growing region. Increased demand for
consumer electronics, growing presence of FMCG, and foreign trade are
supporting the market growth. Europe shows a positive growth in the market and
rest of the world is growing at a slow pace.
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