Press release
Testing, Inspection & Certification Services Market By Key Players: ALS, Applus+, BSI, Bureau Veritas, DNV GL, Eurofins, Intertek, Lloyd's Register, RINA, SAI Global, SGS, SOCOTEC, UL, TÜV SÜD, Corelab Laboratories, DEKRA, Exova Group Limited
Testing, Inspection, and Certification (TIC) Services Market
Testing, Inspection & Certification (TIC) Services Market size was estimated to be over USD 150 billion in 2017 and is estimated to be over USD 240 billion by 2024; according to a new research report by Global Market Insights, Inc. The testing, inspection & certification services market is propelled by the growing trend of outsourcing services from third-party specialist firms.
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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.
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.
Agriculture & food markets are among the most lucrative applications of the testing, inspection & certification services market. These are anticipated to grow at the CAGR of over 10%. The increasing focus of the government authorities on the food safety and health is a primary factor driving the market growth. Food contamination diseases are forcing the governments to develop strict standards and guideline for manufacturers to ensure the safety of their products. Furthermore, the increasing number of foodborne illnesses are driving the demand for inspection services in the food and agricultural sector. In addition, the increasing trade between countries and the globalized food supply chain is also driving the demand for TIC services within the food and agricultural sector.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ALS
2. Applus+
3. BSI
4. Bureau Veritas
5. DNV GL
6. Eurofins
7. Intertek
8. Lloyd's Register
9. RINA
10. SAI Global
11. SGS
12. SOCOTEC
13. UL
14. TÜV SÜD
15. Corelab Laboratories
16. DEKRA
17. Exova Group Limited
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Testing, Inspection & Certification (TIC) Services Market, By Service
o Testing
o Inspection
o Certification
Testing, Inspection & Certification (TIC) Services Market, By Type
o In-house
o Outsource
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 key players in the testing, inspection & certification services market include ALS, AmSpec Group, APAVE Inspection UK Limited, Applus+, BSI,Bureau Veritas, Corelab Laboratories, DEKRA, DNV GL, Eurofins, Exova Group Limited, Intertek, Kiwa, Lloyd's Register, MISTRAS Group, Inc., National Collateral Management Services Limited, RINA, SAI Global, SGS, SOCOTEC, SynLab, TUV Nord, TÜV Rheinland North America, TÜV SÜD,UL
Browse key industry insights spread across 250 pages with 210 market data tables & 31 figures & charts from the report, Testing, Inspection, and Certification (TIC) Services Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/testing-inspection-certification-tic-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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