Testing, Inspection, and Certification (TIC) Services Market is impelled by increasing concerns among consumers for improved quality of products & services | Top Players are SAI Global, SGS, SOCOTEC, Applus+, BSI, Bureau Veritas, DEKRA

Growing emphasis on consumer satisfaction and safety has proliferated the testing, inspection, and certification (TIC) services market as governments worldwide have implemented stringent quality regulations on almost every industry vertical. Whether it is construction, automobile, energy, healthcare or other segments, continuous advancement in products and components have necessitated upgraded testing and certification requirements. Improvements in management, product quality, manufacturing processes, supply chains and service value have become imperative for the growth of any business, imposing a need for the TIC services market. Existence of recognized certifications such as ISO:9001 or ISO/TS 16949 make it easier for customers to search for companies that provide excellent product quality, better customer service and new, innovative solutions. The global TIC services market valuation in 2017 stood at over USD 150 billion, driven by the obligation of companies towards meeting specific product requirements and to comply with international quality standards.

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Besides helping to control the quality, effective testing and inspection processes aid in minimizing rejections, reduce manufacturing costs and identify reasons for a defective output. The transportation segment, in general, constitutes a major part of the global manufacturing industry where thousands of components or auto parts go through daily quality checks. As governments and international agencies are constantly raising the weight, material and other standards of automobile components to enhance the safety and efficiency of vehicles, the testing, inspection, and certification (TIC) services market is subsequently gaining massive popularity. OEMs as well as small auto component vendors are striving to achieve high level of quality and get certified, to get documented and provide validity to their proficiencies and expertise. Frequent inspection and evaluation of manufacturing processes by in-house or third party services to maintain a grip on the quality level will continually boost the TIC services market.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

• 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

Globalization has further foster the demand for the testing, inspection, and certification (TIC) services market. The new trade partnerships between the nations are encouraging companies to outsource their business operations to offshore countries. This is augmenting the demand for the third-party service providers to inspect the supply chain, raw material, and quality control procedure to ensure the safety and quality of the product. Furthermore, the rise in the conscious consumerism along with the development of the brand protection policies across the globe also supports the market growth. However, the protectionist policies and trade barriers act as major constraints. Moreover, the uncertain regulatory environment and complex nature of the global supply chain are also hindering the growth.

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As per estimates, the EU alone produced over 17 million passenger cars and 2.6 million commercial vehicles in 2017. With strict regulations in place to enhance the fuel efficiency of future vehicles and reduce carbon emissions, the testing, inspection, and certification (TIC) services market will experience tremendous growth from testing and inspection of advanced auto components and manufacturing processes. New processes need to be sufficiently tested before implementation and vigorously inspected for any faults or defects to ensure product uniformity. Globally, an emerging product line in the automotive sector is connected and self-driving cars, which presents a challenging task for the TIC services industry. Chipmakers and testing companies are helping to develop these products by adhering to ideal temperature, voltage, electromagnetic interference and several other standards put down for an efficient autonomous system. Automotive standards like ISO 26262 have been introduced related to the safety of electrical and electronic systems within vehicles, warranting adequate testing and inspection to be done on advanced automotive chips.

The testing services accounted for over 65% stake in the testing, inspection, and certification (TIC) services market. The growth is credited to the increasing concerns among consumers for improved quality of products & services. Furthermore, the rising focus of the government on the product quality and health is also augments the demand for the testing services. On the other hand, the certification services are anticipated to grow at a CAGR of more than 9% during the forecast period. The continuous efforts by the government to reduce the carbon dioxide emissions and energy consumption will drive the demand for the certification services.

Testing, inspection, and certification (TIC) services market in 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 & 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.

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:

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The testing, inspection, and certification (TIC) services market is rapidly witnessing demand from the healthcare and life sciences segment, with test and inspection reports of pharmaceutical equipment being critical in assessing whether the international standards are met. TIC companies are trying their best to evolve with technological developments and remain up-to-date with new regulations pertaining to safety and quality. Products, apparatus and supply chains are subject to quality testing activities regularly, as pharmaceutical companies are responsible for providing vital therapeutic solutions. Even other parties involved in the supply chain must go through intense inspection by assigned representatives to be eligible to acquire critical certifications. Citing an instance that signifies the importance of the TIC services market, Swiss WorldCargo recently received IATA’s Center for Independent Validators (CEIV) Pharma certification, which encompasses not only the airline but also the entire organization.

The transportation sector holds more than 25% of the share in the testing, inspection, and certification (TIC) services market. The growth is attributed to the technological advancements in the automobile component. Moreover, the requirement to comply with the international standards and guidelines will also foster the growth. The agriculture & food sector is anticipated to attain the growth rate of over 10% during the forecast timeline. The growing prevalence of the food contamination diseases and food-borne illnesses is the major force driving the demand for the TIC services in the agriculture & food sector.

Europe is leading the testing, inspection, and certification (TIC) services market with more than 40% share in the revenue in 2017. 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. On the other hand, Asia Pacific is anticipated to grow substantially at a CAGR of over 9% during the forecast period. The demand is driven by the rapid urbanization and industrialization in the emerging economies including India and China.

The key players in the testing, inspection, and certification (TIC) services market are Applus, Apave, Bureau Veritas, Corelab, DEKRA, Eurofins, Intertek, DNV GL, Lloyd’s Register Group, TUV SUD, SGS SA, SYNLAB, TUV Rheinland, TUV Nord, ALS, SOCOTEC, Kiwa Group, RINA, and UL. Merger & acquisition is the common strategy used by market players to gain the market share. For instance, in November 2017, SGS acquired BioVision Seed Research Limited to strengthen its presence in the Canadian Agriculture market.

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