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Testing, Inspection, & Certification Market with COVID-19 Update by SGS, Bureau Veritas, Intertek, Eurofins Scientific and Others.

07-29-2020 08:13 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ReportsandReports

The report titled “Testing, Inspection, & Certification Market” sheds a concentrated focus on the Testing, Inspection, & Certification industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.

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The Testing, Inspection, & Certification Market is expected to grow at a CAGR of 3.6% from USD 204.2 Billion in 2020 to USD 243.7 Billion.

Top Companies Profiled in the Testing, Inspection, & Certification Market:
• SGS (Switzerland)
• Bureau Veritas (France)
• Intertek (UK)
• Eurofins Scientific (Luxembourg)
• TÜV SÜD (Germany)
• TÜV Rheinland (Germany)
• TÜV Nord (Germany)
• UL LLC (US)
• NTS (US)
• DEKRA (Germany)
• DNV GL (Norway)
• Applus+ (Spain)
• ALS Limited (Australia)
• Lloyd’s Register Group (UK)
• MISTRAS (US)
• Element Materials Technology (US)

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There has been an increasing demand for certification services owing to the growing number of specified standards by governments and international standardization institutions. Certification demonstrates a company’s credibility in the market. To deliver credibility, companies in this market maintain extensive global accreditations and recognitions for certification services.

The Testing, Inspection, & Certification Market for outsourced services depends on factors such as the industry’s requirements and a country’s federal structure and administrative rules. Over time, these factors may have a significant impact on the market size, irrespective of the underlying macroeconomic conditions.

The Testing, Inspection, & Certification Market for agriculture and food application is expected to grow at the highest CAGR during the forecast period. TIC services for the agriculture industry are required to ensure quality and improve product efficiency. These services also support companies playing a crucial role in trading agricultural commodities and food products by acquiring international certifications.

Breakdown of primary participants’ profile:
• By Company Type: Tier 1 – 60 %, Tier 2 – 25%, and Tier 3 – 15%
• By Designation: C-level Executives – 50%, Directors - 30%, and Others -20%
• By Region: APAC – 40%, North America– 25%, Europe – 20%, and RoW – 15%

Competitive Landscape of Testing, Inspection, & Certification Market:
1 Overview
2 Ranking Analysis: Tic Market
3 Competitive Leadership Mapping, 2019
3.1 Visionary Leaders
3.2 Dynamic Differentiators
3.3 Innovators
3.4 Emerging Companies
3.5 Strength Of Service Portfolio
3.6 Business Strategy Excellence
4 Competitive Situation And Trends
4.1 Service Expansions
4.2 Service Launches And Developments
4.3 Acquisitions
4.4 Partnerships And Agreements

Research Coverage:
The study segments the TIC market report into sourcing type (In-house services and outsourced services), application (consumer goods and retail, agriculture and food, chemicals, construction and infrastructure, energy & power, industrial manufacturing, medical and life sciences, mining, oil & gas and petroleum, public sector, automotive, aerospace, marine, railways, supply chain and logistics, IT and telecommunications, sports & entertainment).

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