Dublin, April 21, 2022 (GLOBE NEWSWIRE) -- The "Testing, Inspection and Certification Market by Service Type, Sourcing Type, Application, Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global testing, inspection and certification market size was valued at $213.60 billion in 2020, and is projected to reach $349.27 billion by 2030, registering a CAGR of 5.3% from 2021 to 2030. Testing, inspection, certification (TIC) are the services ranging from audit and inspection, to testing, verification, quality assurance and certification of the product, equipment, and others. Some of the key TIC services include quality and safety controls through conformity assessments. These help in increasing the efficiency of product and services, and minimize the risk. TIC services are applicable in oil & gas, agro industry, food industry, pharmaceuticals, and other sectors.
Increasing focus of manufacturing companies to improve customer retention by offering quality products and surging demand for interoperability testing for connected devices and IoT drive the growth of the TIC market. However, high cost of TIC services due to diverse standards and regulations across different geographies is expected to pose major threats for the TIC market. Furthermore, digital transformation of customer services and rapid adoption of breakthrough technologies are expected to offer lucrative opportunities for the growth of the global TIC market.
The TIC market is segmented on the basis of service type, sourcing type, application, and industry vertical. By service type, the market is divided into testing, inspection, and certification. By sourcing type, the market is bifurcated into in-house, and outsource. By application, the market is divided into quality and safety, production evaluation, industrial inspection, system certification, and others.
Region wise, the testing, inspection and certification market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America dominated the testing, inspection and certification market in 2020, and is projected to register significant growth rate during the forecast period, owing to growth of the food industry sector. However, Asia-Pacific is expected to witnesses significant growth by the end of the forecast period, followed by LAMEA.
Leading testing, inspection and certification market manufacturers such as ALS Global, Intertek, and SGS Group are focusing on their investments on technologically advanced, cost-effective, and more secure products and solutions for various applications.
Key Benefits
- This study comprises analytical depiction of the global testing, inspection and certification market size along with current trends and future estimations to depict imminent investment pockets.
- The overall testing, inspection and certification market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current testing, inspection and certification market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter's five forces analysis illustrates the potency of the buyers and the testing, inspection and certification market share of key vendors.
- The report includes the market trends and the market share of key vendors
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Porter's five forces analysis
3.3. Market Share Analysis, By Region
3.3.1. North America
3.3.2. Europe
3.3.3. Asia-Pacific
3.3.4. LAMEA
3.4. Patent analysis
3.4.1. By region (2012-2021)
3.4.2. By applicant
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Increase in focus of manufacturing companies to improve customer retention by offering quality products
3.5.1.2. Surge in demand for interoperability testing for connected devices and IoT
3.5.2. Restraint
3.5.2.1. High cost of TIC services due to diverse standards and regulations across different geographies
3.5.3. Opportunity
3.5.3.1. Digital transformation of customer services
3.6. COVID Impact
3.6.1. Impact on market size
3.6.2. End user trends, preferences, and budget impact
3.6.3. End user trends, preferences, and budget impact
3.6.4. Parent industry impact
3.6.5. Key player strategies to tackle negative impact
3.6.5.1. Limiting cuts to R&D expense
3.6.5.2. Focusing on next-generation methods and technologies
3.6.5.3. Shifting toward agile supply chain model
3.6.6. Opportunity window
3.7. Growth Drivers and Opportunities and Projections for Crude Prices, OPEX and CAPEX for Oil and Gas industry
3.8. Future Trends of TIC Industry
CHAPTER 4: TESTING, INSPECTION AND CERTIFICATION MARKET, BY SERVICE TYPE
4.1. Overview
4.2. Testing
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Inspection
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
4.4. Certification
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market analysis, by country
CHAPTER 5: TESTING, INSPECTION, CERTIFICATION MARKET, BY SOURCING TYPE
5.1. Overview
5.2. In-House
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.3. Outsource
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country
CHAPTER 6: TESTING, INSPECTION, CERTIFICATION MARKET, BY APPLICATION
6.1. Overview
6.2. Quality and safety
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.3. Production evaluation
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis, by country
6.4. Industrial Inspection
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market analysis, by country
6.5. System certification
6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market analysis, by country
6.6. Others
6.6.1. Key market trends, growth factors, and opportunities
6.6.2. Market size and forecast, by region
6.6.3. Market analysis, by country
CHAPTER 7: TESTING, INSPECTION, CERTIFICATION MARKET, BY INDUSTRY VERTICAL
7.1. Overview
7.2. Agro Industry
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market analysis, by country
7.3. Food Industry
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market analysis, by country
7.4. Pharmaceuticals
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market analysis, by country
7.5. Chemical Industry
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast, by region
7.5.3. Market analysis, by country
7.6. Oil and Gas
7.6.1. Key market trends, growth factors, and opportunities
7.6.2. Market size and forecast, by region
7.6.3. Market analysis, by country
7.7. Others
7.7.1. Key market trends, growth factors, and opportunities
7.7.2. Market size and forecast, by region
7.7.3. Market analysis, by country
CHAPTER 8: TESTING, INSPECTION AND CERTIFICATION MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
9.1. Introduction
9.1.1. Market Player Positioning, 2021
9.2. Product mapping of top 10 player
9.3. Competitive dashboard
9.4. Competitive heatmap
CHAPTER 10: COMPANY PROFILES
10.1. ABS
10.1.1. Company overview
10.1.2. Key executives
10.1.3. Company snapshot
10.1.4. Operating business segments
10.1.5. Product portfolio
10.1.6. Key strategic moves and developments
10.2. ALS LIMITED
10.2.1. Company overview
10.2.2. Key executives
10.2.3. Company snapshot
10.2.4. Operating business segments
10.2.5. Product portfolio
10.2.6. Business performance
10.2.7. Key strategic moves and developments
10.3. ASTM International
10.3.1. Company overview
10.3.2. Key executives
10.3.3. Company snapshot
10.3.4. Product portfolio
10.3.5. Business performance
10.3.6. Key strategic moves and developments
10.4. BSI
10.4.1. Company overview
10.4.2. Key executives
10.4.3. Company snapshot.
10.4.4. Operating business segments
10.4.5. Product portfolio
10.4.6. Business performance
10.4.7. Key strategic moves and developments
10.5. BUREAU VERITAS S.A
10.5.1. Company overview
10.5.2. Key executives
10.5.3. Company snapshot
10.5.4. Operating business segments
10.5.5. Product portfolio
10.5.6. R&D expenditure
10.5.7. Business performance
10.6. DEKRA
10.6.1. Company overview
10.6.2. Key executives
10.6.3. Company snapshot
10.6.4. Product portfolio
10.6.5. Business performance
10.7. DNV
10.7.1. Company overview
10.7.2. Key executives
10.7.3. Company snapshot
10.7.4. Operating business segments
10.7.5. Product portfolio
10.7.6. Business performance
10.7.7. Key strategic moves and developments
10.8. INTERTEK GROUP PLC
10.8.1. Company overview
10.8.2. Key executives
10.8.3. Company snapshot
10.8.4. Operating business segments
10.8.5. Product portfolio
10.8.6. R&D expenditure
10.8.7. Business performance
10.8.8. Key strategic moves and developments
10.9. ISO
10.9.1. Company overview
10.9.2. Key executives
10.9.3. Company snapshot
10.9.4. Product portfolio
10.9.5. Business performance
10.9.6. Key strategic moves and developments
10.10. LLOYD'S REGISTER GROUP LIMITED
10.10.1. Company overview
10.10.2. Key executives
10.10.3. Company snapshot
10.10.4. Product portfolio
10.10.5. Key strategic moves and developments
10.11. SAI GLOBAL
10.11.1. Company overview
10.11.2. Key executives
10.11.3. Company snapshot
10.11.4. Product portfolio
10.11.5. Key strategic moves and developments
10.12. SGS GROUP
10.12.1. Company overview
10.12.2. Key executives
10.12.3. Company snapshot
10.12.4. Product portfolio
10.12.5. Business performance
10.12.6. Key strategic moves and developments
10.13. TUV SUD AG
10.13.1. Company overview
10.13.2. Key executives
10.13.3. Company snapshot
10.13.4. Operating business segments
10.13.5. Product portfolio
10.13.6. R&D expenditure
10.13.7. Business performance
10.13.8. Key strategic moves and developments
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