North America Testing, Inspection and Certification (TIC) Services Market to hit $40bn by 2024: CSA Group, NTS, SGS, Dekra, Bureau Veritas and KiwaMarket Size By Type (In-House, Outsource), By Application (Life Science, Consumer Product, Agriculture & Food, Construction, Transportation, Energy, Oil, Gas, & Chemical, Mining), By Service (Testing, Inspection, Certification), Countries Outlook (U.S., Canada), Industry Report, Growth Analysis & Forecast, 2018 – 2024”, estimated to exceed USD 40 Billion By 2024, as per the latest report by Graphical Research.
The North America TIC market is fostered by the rising number of rigorous government regulations to promote consumer safety and enhance the product quality. The region imports billions of dollars of products to fulfill the rapidly growing consumer demands. In 2017, the U.S. imported goods worth USD 2.614 trillion from across the globe. Most of the imports do not comply with consumer safety standards set by the regulatory authorities in the region. This is driving the demand for TIC services across various industry verticals to ensure compliance with standards and guidelines set by the government.
Sample copy of this research report @
The outsourcing market is expected to attain a CAGR of over 8% over the projected timespan. Prominent companies & public institutions are increasingly outsourcing TIC activities to external specialist’s service providers. The company’s primary objective for outsourcing TIC activities is to lower the company’s cost and thereby focus on its core competency. The external TIC service providers help companies achieve higher product quality as they employ testing personnel, who possess expertise in a wide range of TIC methodologies. This facilitates high-quality assurance across its services.
The consumer products market is anticipated to grow at a CAGR of over 9% during the forecast timeline. The consumer quality expectations and safety requirement needs are growing day-by-day. The factors that influence TIC services in the consumer market are increased consumer spending, rising awareness regarding quality, and the safety of consumer products. Furthermore, stringent rules and regulations by local, national, and international governments and growth in the marketability of the product by conforming to the defined standards are driving the TIC of the consumer products market.
Browse moe industry insights from this report @
The players operating in the North America TIC market are CSA Group, NTS, SGS, Dekra, Bureau Veritas, Kiwa, and ALS Global. Mergers and acquisitions have been the commonly used strategy by various major players to extend their geographical reach in foreign markets. For instance, in June 2016, SGS acquired IPS Testing, a testing laboratory offering physical and analytical testing services for paper, pulp, fabrics, and medical supplies.
Segments we cover:
North America TIC Services Market Statistics, By Providers
North America TIC Services Market Trends, By Application
• Agriculture & Food
• Life Science
• Consumer Products
• Oil, Gas & Chemical
Make an inquiry for purchasing this report @
North America TIC Services Market Growth, By Type
The above information is provided for the following countries:
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release North America Testing, Inspection and Certification (TIC) Services Market to hit $40bn by 2024: CSA Group, NTS, SGS, Dekra, Bureau Veritas and Kiwa here
News-ID: 1678314 • Views: 187
More Releases from Next Generation Technologies
Europe Commercial Drone Market Growth Analysis 2019 with Key Players DJI, Parrot …
Graphical Research has launched a report on Europe Commercial Drone Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere. The advancements in the design and technology of UAVs are driving
Augmented Reality Market in North America to Exhibit Phenomenal Growth in Coming …
A comprehensive research study on North America Augmented Reality Market introduced by Graphical Research provides insights into the market size and growth trends of this industry over the forecast timeline. The study evaluates key aspects of the market in terms of the demand landscape, driving factors and growth strategies adopted by market players. Emerging applications of AR devices in the retail sector are growing at a rapid pace in North
What are the factors contributing in APAC Legal Process Outsourcing Market growt …
Graphical Research has launched a report on Asia Pacific Legal Process Outsourcing Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere. Growing adoption of internet activities and online availability of
Find the factors affecting the Europe Car Sharing Market growth | Key Participan …
Graphical Research presents an extensive report on Europe Car Sharing Market that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities. Europe car sharing market growth is expected to accelerate over the forecast timespan, due to