Testing, Inspection & Certification Services Market Emerging Growth By Key Players: SGS SA, Intertek, Bureau Veritas, Eurofins, DNV GL, Applus+, Corelab, Kiwa Group, RINA, Apave, TUV Nord, ALS, SOCOTEC LR SYNLAB

Market Overview: -

Testing, Inspection, and Certification (TIC) Services Market is propelled by the growing trend of outsourcing services from third-party specialist firms. Large corporations & state-owned establishments are gradually outsourcing their TIC activities to reduce the cost and focus on their core business competency. The stringent government regulations to ensure the safety and quality of the products also drives the market growth. Over the past five years, the incidences of non-compliance scandals have increased significantly. This is encouraging government authorities to implement stringent regulations associated with testing, inspection, and certification standards. t testing, inspection & certification services market is anticipated to be cross USD 240 billion mark by 2024. The market is propelled by the increasing trend of outsourcing services.

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Top Key Players: -

The major players in the TIC services market are SGS SA, Intertek, Bureau Veritas, Eurofins, DNV GL, Applus+, Corelab, Kiwa Group, RINA, Apave, TUV Nord, ALS, SOCOTEC LR SYNLAB, TUV Rheinland TUV SUD, and DEKRA.

Market share calculation in this report is not done based on companies covered in it. The calculation of testing, inspection & certification services market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

Asia Pacific testing, inspection & certification services market is anticipated to attain a growth rate of over 9% during the forecast timespan. The growth of the market is driven by the rapid industrialization and urbanization in emerging economies such as India and China. The urbanization in these countries has attracted massive investment in the energy, infrastructure, and transport. This is developing myriad opportunities for the growth of the market.

Furthermore, the rising demand for quality and safety of the products along with the environmental health is giving rise to the requirement of effective TIC services in these regions. The growth is credited to the stringent government standards to promote consumer safety and improve the product quality. Moreover, the presence of commonly-accepted standards across the European Union member countries has further nurtured the growth.

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Partial Chapter of the Table of Content

Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope
1.1.5. Definitions
1.1.6. Methodology & forecast parameters
1.2. Data Sources
1.2.1. Secondary
1.2.2. Primary
Chapter 2. Executive Summary
2.1. TIC services industry 360º synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Service trends
2.1.4. Type trends
2.1.5. Application trends
Chapter 3. Global TIC Services Industry Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2013 - 2024
3.4. Industry ecosystem analysis
3.5. TIC services market evolution
3.6. Market news
3.7. Technology and innovation landscape
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.1.1. Growing demand for third part services
3.8.1.2. Rise in globalization
3.8.1.3. Stringent government regulation
3.8.1.4. Empowered consumers
3.8.1.5. The rise of brand protection policies
3.8.2. Industry pitfalls & challenges
3.8.2.1. Uncertain regulatory environment
3.8.2.2. Complex nature of global supply chain
3.8.2.3. Replacement of KYTO protocol
3.9. Growth potential analysis
3.10. Porter’s analysis
3.11. PESTEL analysis

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The certification service market is anticipated to attain CAGR of over 9% during the forecast timeline. The increasing concern towards the product quality, safety, and environmental health is driving the market growth. Furthermore, the requirement to comply with the national and international standards is augmenting the demand for the testing, inspection & certification services market.

The outsourcing is estimated to grow at a CAGR of over 8% during the forecast period. The demand for the third-party companies is driven by the development of various government regulations s& standards to improve product the quality and efficiency. Furthermore, the increasing pressure on the government organizations to reduce the spending on the testing, inspection, and certification services is also augmenting the demand for the third-party services providers.

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