Dublin, Aug. 15, 2023 (GLOBE NEWSWIRE) -- The "Global Management System Certification Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Management System Certification Market has experienced steady growth, with an estimated worth of USD 26.40 billion in 2022, projected to reach USD 27.70 billion in 2023, and expected to grow at a Compound Annual Growth Rate (CAGR) of 5.69% to reach USD 41.13 billion by 2030.
Market Dynamics
The market is driven by several factors, including an increasing focus on enhancing management practices in companies. Businesses worldwide are recognizing the importance of efficient management systems to optimize their operations and improve overall performance. Moreover, there is a rising awareness regarding the significance of quality and consumer satisfaction, leading enterprises to seek management system certifications to gain a competitive edge.
Furthermore, ongoing investments to expand end-user sectors are contributing to the market's growth. As industries strive for continuous improvement, management system certifications play a crucial role in demonstrating their commitment to quality and compliance.
However, the market faces some challenges. One major restraint is the lack of standardization of regulations across economies, which can lead to complexities and barriers in obtaining and recognizing certifications in different regions.
Opportunities
Despite the challenges, the market offers various opportunities for growth. The introduction of new accreditation programs aimed at continuously improving end-user sectors opens avenues for expansion. Governments' initiatives towards upholding occupational health and safety in industries also create opportunities for management system certifications in relevant sectors.
Challenges
One notable challenge is the certification of new and evolving technologies. As industries innovate and adopt new technologies, there may be limitations in developing standardized certification processes, posing challenges for certification bodies.
Market Segmentation
The market is segmented based on certification type, service type, end-user, and region. Certification types include Product Certification and System Certification, with Product Certification expected to hold significant market share during the forecast period.
Regarding service types, the market is divided into Certification & Verification and Training & Business Assurance. Training & Business Assurance is projected to witness significant market share during the forecast period, indicating the importance of training services in the certification process.
End-user sectors studied include Aerospace & Defense, Automotive & Transportation, Building, Construction & Real Estate, Consumer Goods & Retail, Energy & Utilities, Healthcare & Life Sciences, Information Technology & Telecommunication, and Manufacturing. Consumer Goods & Retail are anticipated to hold significant market share during the forecast period.
Regional Presence
The market is analyzed across three major regions - Americas, Asia-Pacific, and Europe, Middle East & Africa. Europe, Middle East & Africa are projected to witness significant market share during the forecast period.
Political and Economic Influences
The report takes into account the ongoing political and economic uncertainty in Eastern Europe due to the Russia-Ukraine Conflict. The conflict's implications on demand-supply balances, pricing variants, and import/export and trading activities in the management system certification market are considered.
Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies to mitigate its effects on demand, supply, cash flow, and currency exchange, which can have repercussions on the management system certification market.
FPNV Positioning Matrix
The FPNV Positioning Matrix is an essential tool for assessing the Global Management System Certification Market. It evaluates vendors based on key metrics like Business Strategy and Product Satisfaction, allowing users to make informed decisions tailored to their specific needs. Vendors are categorized into four quadrants - Forefront (F), Pathfinder (P), Niche (N), or Vital (V) - based on their levels of success.
Market Share Analysis
The Market Share Analysis provides valuable insights into the competitive landscape. By comparing vendor contributions to overall revenue, customer base, and other key metrics, companies can better understand their performance and competition within the market. The analysis also highlights the level of competitiveness, accumulation, fragmentation dominance, and amalgamation traits in the sector over the studied base year period.
Other Key Insights
- Market Trends
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Regulatory Framework
Key Attributes
| Report Attribute | Details |
| No. of Pages | 189 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $27.7 Billion |
| Forecasted Market Value (USD) by 2030 | $41.13 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Key Topics Covered
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Management System Certification Market, by Certification Type
7. Management System Certification Market, by Service Type
8. Management System Certification Market, by End-user
9. Americas Management System Certification Market
10. Asia-Pacific Management System Certification Market
11. Europe, Middle East & Africa Management System Certification Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix
Companies Mentioned
- ALS Limited
- Applus+
- Bluestar Management Systems
- Bureau Veritas
- DEKRA SE
- DNV Group AS
- DSJ Management Systems Solutions
- Eurofins Scientific SE
- Finecert
- GCL International Ltd.
- IMQ S.p.A.
- Intertek Group PLC
- IRClass
- Lloyd's Register Foundation
- M/S OSS Certification Services Pvt. Ltd.
- Norges Elektriske Materiellkontroll
- RINA S.p.A.
- ROHS Certification Pvt. Ltd.
- SGS Societe Generale de Surveillance SA
- Shamkris Marketing Services Pvt. Ltd.
- SIRIM Berhad
- SIS Certifications Pvt. Ltd.
- The British Standards Institution
- TUV NORD Group
- TUV Rheinland AG
- TUV SUD AG
- UL LLC
- United Registrar of Systems (Holdings) Ltd.
- UQSR Global Private Limited
- Yahowa Services
For more information about this report visit https://www.researchandmarkets.com/r/6w2lu7
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