TUV Nord Group
Testing, Inspection and Certification (TIC) Market Statistics 2027
The global Testing, Inspection and Certification (TIC) market size is projected to reach USD 141970 Million by 2026, from USD 102390 Million in 2019, at a CAGR of 4.8% during 2021-2026.
Companies provide inspection, verification, testing and certification services and related support functions such as auditing, consulting and training. The purpose of these services is to increase productivity, help local manufacturers meet global standards, manage risk, and improve the quality, safety and compliance of a company’s products and services.
The primary role of testing, inspection, and certification is to ensure the maintenance of the health, safety, and quality requirements products. Testing, inspection, and certification companies are engaged in inspection, verification, testing and certification services to help increase productivity and also help local manufacturers comply with the global standards.
The global Testing, Inspection and Certification (TIC) key players include SGS, Bureau Veritas, Eurofins Scientific, Intertek, Dekra, TUV SUD, TÜV Rheinland, Applus, DNV GL and ALS Global, etc. Global top five players hold a share about 15%.
This report focuses on the status of global testing, inspection and certification, future outlook, opportunities for development, key industry, and key players. The study goals are to address the production of research, inspection, and qualification in the USA, Europe, and China.
Based on our recent survey, we have several different scenarios about the Testing, Inspection, and Certification Services Market growth rate for 2020
TESTING INSPECTION AND CERTIFICATION (TIC) MARKET SIZE & SHARE ANALYSIS
Rising global demand for materials, products, systems, and processes regulation; ever-increasing trade flows; global integration of supply chains; and increased corporate outsourcing of R&D activities as well as quality assurance work to third parties have driven the TIC industry's long-term expansion.
Agriculture and the food industries are founded on the principles of health and sustainability, and it is very important to track these principles closely. In order to guarantee quality and improve the productivity of food products, TIC services are required for the agricultural industry. These programs also help companies that play a crucial role in trading agricultural goods and food products through the acquisition of foreign certifications. This application of TIC in the agriculture and food industry is expected to increase the TIC market size
Augmented reality, next-generation automation, blockchain, mobile devices, big data and analytics, cloud and cybersecurity, and smart sensors are many innovations that play an important role in delivering better TIC services. Additionally, intelligent sensors embedded in the products for remote monitoring and inspection. This capability leads to continuous safety and security tests, which can further assist in predictive maintenance. The increasing implementation of the latest technology is expected to impact the TIC market size.
The implementation of renewable energy generation projects will also improve the demand for Testing, Inspection, and Certification (TIC) market.
Following the recent COVID-19 outbreak, the market for testing, inspection, and certification plays a critical role in ensuring that the goods and services provided to consumers, especially in the healthcare sector, meet the fundamental criteria for safety and health. The TIC council has advised the respective countries to continue to provide the TIC services for workplace plant and machinery health.
Europe holds the largest TIC market share for revenue, which accounts for over 38.51 % in 2017. North America is in second place with a market share of 27.38 % for sales.
Asia-Pacific holds a significant TIC market share for sale, which accounts to over 22 %. The Asia Pacific area is characterized by a large number of populations having improved purchasing power, continuous automation investments, and growing policy emphasis on strict TIC services regulations. It is also anticipated that substantially expanded deployment of renewable energy generation projects would fuel demand for market monitoring, inspection, and certification services.
SGS Group, Bureau Veritas, Dekra Certification, Intertek, TUV SUD, Eurofins Scientific, DNV, TUV Rheinland, UL LLC, ALS Limited and TUV Nord Group is the top player in the industry, they together with 39.36% market share.
This report focuses on the global Testing, Inspection and Certification status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Testing, Inspection and Certification development in United States, Europe and China.
TESTING INSPECTION AND CERTIFICATION MARKET COMPANIES LIST
- SGS Group
- Bureau Veritas
- Dekra Certification
- TUV SUD
- Eurofins Scientific
- TUV Rheinland
- UL LLC
- ALS Limited
- TUV Nord Group
- Mistras Group
- SAI Global
- BSI Group
- Exova Group
TESTING INSPECTION AND CERTIFICATION MARKET SEGMENT BY TYPE
TESTING INSPECTION AND CERTIFICATION MARKET SEGMENT BY APLLICATION
- Consumer Product
TESTING INSPECTION AND CERTIFICATION MARKET SEGMENT BY REGIONS/COUNTRIES
- United States
- Southeast Asia
- Central & South America
THE STUDY OBJECTIVES OF THIS REPORT ARE
- To analyze global Testing, Inspection and Certification status, future forecast, growth opportunity, key market and key players.
- To present the Testing, Inspection and Certification development in United States, Europe and China.
- To strategically profile the key players and comprehensively analyze their development plan and strategies.
- To define, describe and forecast the market by product type, market and key regions