Testing Inspection and Certification Industry - Key Players and Regional Forecast 2023

Global Testing Inspection and Certification Industry, By Sourcing Type (Outsourcing, In-house), Service Type (Testing, Inspection, Certification), End-User (Automotive, Textile, Aerospace, Oil & gas, petroleum, Food & Beverage), Application (Commercial, Industrial) - Forecast till 2023

Testing Inspection and Certification Industry is a process adopted by end-user sector to ensure safety, maintenance, and quality in consumer products. Testing Inspection and Certification Industry services play an essential role in increasing productivity by meeting product quality with international standard.

In recent years, regulatory norms of health, quality, and safety have become strict which is thereby affecting the global import & export business. Imports from developing regions have to pass through stringent quality and safety testing procedures. This, as a result, has increased demand for testing, inspection, and certification process in the manufacturing sectors.

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Moreover, strong industry fundamentals and stringent regulation in end-user sectors such as food & beverage, textiles, and pharmaceuals, are escalating the market on the global platform, creating a massive demand for these services. 

Acknowledging the exponential traction, the market perceives currently, Market Research Future (MRFR), in its recently published study report asserts that the global Testing Inspection and Certification Industry is expected to reach USD 58.38 BN by 2023 with approx. 5.8 % CAGR throughout the forecast period (2018-2023).

With the growing awareness about quality among consumers which is thereby generating a considerable demand for these services is allowing the market to grow at twice the rate of global GDP. Also, the growing manufacturing units in emerging countries such as China, India, and Singapore among others drive the growth of Testing Inspection and Certification Industry.

Segmentations:

The MRFR analysis is segmented into five key dynamics for enhanced understanding.

By Sourcing Type: Outsourcing and In-house.

By Service Type: Testing Service, Inspection Service, And Certification Service.

By End-user: Automotive, Textile, Aerospace, Oil & Gas, Petroleum, and Food & Beverage among others.

By Application: Commercial and Industrial.

By Regions:  North America, Europe, APAC, and the Rest-of-the-world (RoW).

Regional Analysis:

North America is dominating the global Testing Inspection and Certification Industry with the largest market share due to the large presence of the electronics sector in the region. Moreover, factors such as the increased global trade, growth in the software, defense, and aviation industry, and advancement in medical equipment automation substantiate the growth of the regional market. The region is expected to create a large revenue pocket over the forecast period.

The Testing Inspection and Certification Industry in the European region is expected to account for the second-largest market, following the North American market closely.  The presence of high-tech automation division in the region which provides extensive vehicle testing & inspection services to the automotive products alongside the burgeoning automobile industry in the region drives the growth of the regional market. Moreover, factors such as the growing demand for organic and processed food fuels the market growth.

Key Players:

Some of the players leading the global testing, inspection, and certification (TIC) Industry includes Bureau Veritas SA (France), SGS group (Switzerland), Dekra Certification GmbH (Germany), ALS Limited (Australia), Intertek Group plc. (U.K.), ASTM International (U.S.), SAI Global Limited (Australia), BSI Group (U.K.), UL LLC (U.S.), and MISTRAS Group, Inc. (U.S.) among others.

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