Testing, Inspection, and Certification (TIC) Market | Global Industry Size Analysis by Value Chain, SWOT Analysis, Drivers and Opportunities by Region and Forecast to 2027

The Asia Pacific is expected to account for a significant market share in the near future, particularly in China and India. Asia Pacific TIC market growth is driven by increasing environmental and food safety violations in the region, which have led government agencies to implement policies that will ensure consumer safety and limit the amount of environmental deterioration caused due to e-waste. Moreover, rising international trade has increased the number of exports from the Asia Pacific to Europe.

Major players operating in the global testing, inspection, and certification (TIC) industry include SGS Group, Bureau Veritas SA, TUV Rheinland Group, Intertek Group PLC, ALS Limited, DNV GL, MISTRAS, Lloyd’s Register Group Limited, Underwriters Laboratories Inc., ABS Group, and ASTM International.

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Europe held the dominant position in the Testing, Inspection, and Certification (TIC) market in 2017:

Europe is expected to be the largest market in terms of size during the forecast period. The major factors driving the market growth are increasing demand for TIC services in the region, technological advancements in the automotive industry, and outsourcing of TIC services. Moreover, increasing the trade of consumer products is expected to drive the growth of Testing, Inspection, and Certification (TIC) Market in Europe. Organizations such as the European Telecommunications Standards Institute and European Committee for Standardization are developing new rules and regulations such as those listed under the Construction Products Directive to maintain product safety and limit the flow of counterfeit products.

Companies that provide TIC services need to follow these varying standards, which leads to an increase in the cost of operation, in addition to other expenses. Moreover, the complex nature of the supply and value chain, as well as the uncertainties in macroeconomics is another factor hindering the growth of the testing, inspection, and certification market.

Increasing globalization and import-export activities lead to a high demand for product testing, inspection, and certification. However, varying quality and testing methods and lack of global certification standards hinder the market growth. Moreover, countries in the Asia Pacific and the Middle East are experiencing a shortage of skilled workforce.

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Use of digital technology in the Global Testing, Inspection, and Certification (TIC) Market:

There are two types of product verifications, 1) before product launch and 2) while the product is in use or in service. These verifications are either done in a lab, on-site, or through other methods. Moreover, outsourcing of TIC services is increasing due to growing global trade and regulatory requirements. As a result, digital technology is playing an important role in meeting the increasing demand for TIC services.

The use of smart sensors and cloud connectivity aids instant data sharing, issuing, and creating automated certification reports. Furthermore, digital technology also improves analytical methods and detection limits which is expected to help TIC companies meet the growing demand for analytics techniques, better reporting, and greater accuracy.

For instance, in May 2018, Bureau Today announced the publication of ‘The digital asset across industries – A TIC company perspective’, a position paper that outlined the importance of companies embarking on digital transformation, in order to define their needs with regards to new technologies, and decide how to integrate them in their value chain processes.

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The global testing, inspection, and certification (TIC) market was valued at US$ 182,933.6 Mn in 2018 and is expected to exhibit a CAGR of 5.9% over the forecast period to reach US$ 310,003.6 Mn in 2027. Europe accounted for 37.1% of revenue share in the global testing, inspection, and certification market in 2018.

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