Fort Collins, Colorado, Oct. 16, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the testing, inspection, and certification market size was valued at USD 220.8 Billion in 2022 and is expected to reach a market size of USD 320.7 Billion by 2032 with a CAGR of 3.9%.
The TIC market has grown significantly due to the increased complexity of products, globalized trade, and strict industry regulations. Governments worldwide have imposed stringent standards to ensure quality and safety, which has led to a rise in the need for independent inspection, testing, and certification services. TIC service providers play a vital role in verifying compliance with these regulations promoting consumer safety and environmental preservation.
Consumers and governments demand greater transparency and safety standards, especially children's products. To meet these expectations, businesses must demonstrate their commitment to quality and compliance. Partnering with reputable TIC service providers helps build consumer trust and differentiate products in the competitive market, driving growth in the TIC industry.
Request Sample Report:
https://datahorizzonresearch.com/request-sample-pdf/testing-inspection-and-certification-market-2322
TIC services provide inspection, testing, and certification expertise in global trade. They help ensure compliance with regulatory requirements and verify product quality and safety. By doing so, TIC services help businesses expand their market reach, reduce risks, and overcome trade barriers.
Segmentation Overview:
The global testing, inspection, and certification market has been segmented into application, sourcing type, service type, and geography. The consumer goods and retail segment is the leading revenue generator, while agriculture & food is expected to grow the fastest during the forecast period. Testing services dominate the market currently, and inspection services are expected to grow significantly. TIC providers offer comprehensive testing services across various industries to ensure product quality, safety, and regulatory compliance.
Buy This Research Report:
https://datahorizzonresearch.com/checkout-page/testing-inspection-and-certification-market-2322
Testing, Inspection, and Certification Market Report Highlights:
- The global testing, inspection, and certification market growth is anticipated at a CAGR of 3.9% by 2032.
- Manufacturing companies are improving customer retention by offering quality products driving the testing, inspection, and certification market growth.
- Asia Pacific is the leading market for TIC services due to the region's expanding industrial sectors, increasing consumer awareness, and stringent regulatory environments. The demand for TIC services and the region's diverse industries present ample growth opportunities for TIC providers.
- Some prominent players in the testing, inspection, and certification market report include ALS Limited, Applus+, Bureau Veritas SA, DEKRA SE, DNV GL, Element Materials Technology, Eurofins Scientific, Intertek Group plc, MISTRAS Group, Inc, SGS SA, TÜV NORD GROUP, TÜV Rheinland, TÜV SÜD, and UL LLC.
Industry Trends and Insights:
- MISTRAS Group, Inc. has acquired RAC Group, a rope access service and training provider based in Calgary, Alberta, Canada. RAC Group will maintain its name, structure, locations, and personnel during the transition period.
- Element is expanding its partnership with Safran to provide product testing for safer and more sustainable aviation. This partnership includes additional investment in worldwide aerospace laboratories and supports Safran's R&D and production testing needs in Europe, the USA, and Asia.
Looking Exclusively For Region/Country Specific Report?
OR
Ask For Discount
https://datahorizzonresearch.com/ask-for-discount/testing-inspection-and-certification-market-2322
Testing, Inspection, and Certification Market Segmentation:
- By Application: Consumer goods & retail, agriculture & food, chemicals, infrastructure, energy & power, education, government, manufacturing, healthcare, mining, oil & gas and petroleum, public sector, automotive, aerospace & defense, supply chain & logistics, others.
- By Sourcing Type: In-house, outsourced.
- By Service Type: Testing, inspection, certification.
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
Contact:
Mail: sales@datahorizzonresearch.com
Ph: +1-970-672-0390
Website: https://datahorizzonresearch.com/
Follow Us: LinkedIn
Recent Publications
Farm Equipment Market 2023 to 2032
SaaS Sales Software Market 2023 to 2032
Predictive Maintenance Market 2023 to 2032
AR and VR Market 2023 to 2032
Industrial Robotics Market 2023 to 2032
