Dublin, July 14, 2021 (GLOBE NEWSWIRE) -- The "Global Management System Certification Market with COVID-19 Impact Analysis by Certification Type (Product Certification and Management System Certification), Service Type, Verticals, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The management system certification market is expected to grow at a CAGR of 5.3% from USD 25.1 billion in 2021 to USD 32.5 billion in 2026.
Management system certification market for certification and verification services is expected to grow at highest CAGR during the forecast period
The market for certification and verification services is expected to grow at the highest CAGR during the forecast period. Certification services function as an indicator of the safety, reliability, and quality of products. The products without certification can be used for a short period owing to their cost-effective manufacturing. Uncertified products are usually developed from sub-standard components expected to fail the testing of the safety and quality standards.
Products that meet the certification requirements are safe to use. They are tested to meet the highest standards for safeguarding the health and safety of users. Certification services are available to all industries, ranging from small consumer electronics to aerospace. For instance, certification services used for agricultural products and food items check the quality of seeds and crops. The seed certification includes the seed source verifications, field inspections, seed quality analysis, seed genetic purity evaluations, and seed treatments, along with their bagging and tagging, as well as issuing relevant certificates.
Verification services check the uniformity, completeness, and accuracy of products in terms of efficiency and performance at each stage and between each stage of the product development lifecycle. They evaluate products during each production phase to ensure that they meet the compliances formulated in the previous phases. For instance, Intertek provides various verification services, including document verifications, initial production checks, in-production checks, and import and export verifications.
Management system certification market for Consumer Goods and Retail accounted for the largest share in 2020
Day by day, consumer goods are becoming highly complex with the increasing product variety and changing consumer demands, making it necessary for the manufacturing companies to get their products and services certified. The demand for consumer products across the world is extensively driven by buyers' trust in the products they purchase.
It is important to gain customer trust by ensuring the brand's quality, safety, and sustainability. This creates a real point of difference for marketed products in today's commoditized, connected world. An extensive range of players operating in the testing, inspection, and certification ecosystem offer certification services to companies from the consumer goods and retail industries. Certification service providers offer a complete range of services to manufacturers, importers, exporters, and retailers of consumer products, which helps them enhance the quality, value, and acceptability of their products.
A few TIC services such as laboratory testing, product inspection and consulting, process assessment, and technical assistance are offered to consumer goods industries across several countries. Adoption of such services helps organizations to reduce business-related risks, improve plant efficiency, and adhere to contractual or regulatory requirements throughout the existing supply chain and span across a wide range of products, such as cosmetics and personal care products, textiles, footwear, toys, hardware, household products, formulated products, and electrical and electronic goods.
Key certification services applicable across these products are Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH); chemical data management system certification; Zhaga certification; BRC certification; ISO 9001; CE certification; and GC mark; among many others. The product and management system certification helps manufacturers build a trust factor among consumers, which, in turn, enables product acceptance and improves plant efficiency.
APAC is expected to hold the largest market for Management system certification during the forecast period
The Management system certification market for APAC is expected to hold the largest market share. APAC is projected to be the fastest-growing market for management system certification during the forecast period. With three of the top 10 largest economies in the world-China, India, and Japan-the Asia Pacific region presents a high potential for the growth of the market. In this report, the market in the Asia Pacific mainly constitutes Japan, China, India, South Korea, and Rest of APAC. Australia, Singapore, Thailand, and Indonesia are the main countries studied and categorized under Rest of APAC.
Some key OEMs and manufacturers of semiconductor devices such as STMicroelectronics, Huawei and Infineon Technologies and consumer goods and electronic products are based in APAC. The growing demand for management system certification is attributed to the increasing number of manufacturers who constantly focus on upgrading the existing and developing next-generation telecommunication devices. Furthermore, increasing penetration of wireless communication technologies is boosting demand for product and management system certifications from the IT & telecommunications sector.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Realistic Scenario
3.2 Optimistic Scenario (Post-Covid-19)
3.3 Pessimistic Scenario (Post-Covid-19)
4 Premium Insights
4.1 Rising Demand for Safe and Reliable Products Driving the Management System Certification Market
4.2 Management System Certification Market, by Service Type
4.3 Management System Certification Market, by Application
4.4 Management System Certification Market In North America, by Application & Country (2021)
4.5 Management System Certification Market, by Certification Type
4.6 Management System Certification Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing investments in latest technologies such as Ai, Ml, cloud computing, and big data
5.2.1.2 Increasing focus of manufacturing companies to improve customer retention
5.2.1.3 Growing illicit trade of forged and pirated goods
5.2.2 Restraints
5.2.2.1 Varied standards and regulations across countries
5.2.3 Opportunities
5.2.3.1 Introduction of digital certification services after outbreak of Covid-19
5.2.4 Challenges
5.2.4.1 Challenges in providing certification services for evolving technologies for smaller market players
5.3 Impact of Covid-19 On Management System Certification Market
5.3.1 Impact On Value Chain
5.3.2 Impact On Market
5.3.3 Parent Market Trends
5.3.3.1 Impact analysis of emerging technologies on certification market
5.4 Average Selling Price (Asp) Trends
5.5 Management System Certification Market: Patent Analysis
5.6 Trade Analysis
5.7 List of Key Players
5.8 Tariff and Regulatory Landscape
5.9 Management System Certification Ecosystem
5.10 Management System Certification Market: Porter's Five forces Analysis
5.10.1 Threat of New Entrants
5.10.2 Threat of Substitutes
5.10.3 Bargaining Power of Suppliers
5.10.4 Bargaining Power of Buyers
5.10.5 Degree of Competition
5.11 Case Studies
5.11.1 TUV SUD
5.11.2 Intertek
6 Management System Certification Market, by Certification Type
6.1 Introduction
6.2 Product Certification
6.2.1 Product Certification Enables Increased Marketability of Products
6.3 System Certification
6.3.1 System Certification Helps Business Organizations In Achieving their Objectives With Minimized Risks
7 Management System Certification Market, by Service Type
7.1 Introduction
7.2 Certification and Verification
7.2.1 Mandatory Certification Services for Agricultural Products Drive Requirement for Certification and Verification Services
7.3 Training and Business Assurance
7.3.1 Assurance Services Provide Reliability and Operational Guarantee To Manufacturers
8 Management System Certification Market, by Application
8.1 Introduction
8.2 Consumer Goods and Retail
8.2.1 Increased Complexity of Consumer Products Drives Demand for Certification Services Globally
8.3 Agriculture and Food
8.3.1 Stringent Food Safety Norms and Surged Demand for Quality Food Products Are Met Through Certification Services
8.4 Construction and Infrastructure
8.4.1 Surged Requirement for High-Quality Infrastructure and Rapid Advancements In Building Infrastructure Modelling Create Opportunity for Certification Service Providers
8.5 Energy and Power
8.5.1 Escalated Need for Energy Worldwide and High Adoption of Emerging Technologies In Energy Generation Create Enormous Opportunities for Certification Services
8.6 Industrial and Manufacturing
8.6.1 Accelerated Requirement for Safe and Quality Products Stimulate Growth of Market for Certification Services
8.7 Medical and Life Sciences
8.7.1 Escalated Need for High-Quality Medical Devices To Minimize Patient Safety Risks Will Boost Demand for Certification Services
8.8 Oil & Gas and Petroleum
8.8.1 Immense Opportunity With Development of Enhanced Service offerings for Oil & Gas and Petroleum Industry Players Will Foster Management System Certification Market Growth
8.9 Automotive
8.9.1 Huge Demand for High-Quality Automobile Parts Pushes Market Growth
8.1 Aerospace
8.10.1 Continuous Evolution of Technology In Aerospace Industry Supports Market Growth for Certification Services
8.11 Marine
8.11.1 Stringent Imo Regulations Propel Growth of Market for Certification Services Related To Marine Equipment
8.12 It and Telecom
8.12.1 Mandatory Certification of Telecommunication Equipment Promotes Market Growth
9 Geographic Analysis
10 Competitive Landscape
10.1 Overview
10.2 Market Share and Ranking Analysis of Key Companies, 2020
10.3 Five-Year Revenue Analysis of Major Players In Management System Certification Market
10.4 Company Evaluation Matrix, 2020
10.4.1 Star
10.4.2 Emerging Leader
10.4.3 Pervasive
10.4.4 Participant
10.5 Competitive Benchmarking
10.5.1 Strength of Service Portfolio (15 Companies)
10.5.2 Business Strategy Excellence (15 Companies)
10.6 Startup/SME Evaluation Matrix, 2020
10.6.1 Progressive Company
10.6.2 Responsive Company
10.6.3 Dynamic Company
10.6.4 Starting Block
10.7 Competitive Situations and Trends
10.7.1 Deals
11 Company Profiles
11.1 Introduction
11.2 Key Players
11.2.1 SGS Group
11.2.2 Bureau Veritas
11.2.3 Intertek
11.2.4 TUV Rheinland
11.2.5 Dekra SE
11.2.6 Eurofins Scientific
11.2.7 TUV SUD
11.2.8 DNV GL
11.2.9 Applus+
11.2.10 ALS Limited
11.2.11 Lloyd's Register Group Limited
11.2.12 British Standards Institution (BSI)
11.2.13 Rina S.P.A.
11.2.14 Al Borj Facility Management
11.2.15 SIS Certifications
11.2.16 Finecert
11.2.17 United Registrar of Systems (URS)
11.2.18 LL-C (Certification)
11.2.19 GCL International
11.2.20 Aurion International
11.2.21 TUV Nord Group
11.2.22 IR Class
11.2.23 DQS
11.2.24 Socotec
11.2.25 ASTM International
12 Appendix
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