Press release
Europe Testing, Inspection and Certification Market Research Analysis, Technology, Regional Report & Prominent Key Factors| SGS SA, TUV SUD Limited, Applus Services Ltd, Bureau Veritas SA
The Europe testing, inspection, and certification market was valued at USD 56.22 billion in 2019 which is expected to reach USD 76.56 billion by 2027 at a CAGR 4.5%.The testing, inspection, and certification market consists of conformity assessment bodies which offer services ranging from auditing, inspection, to testing, quality assurance, and certification. Recently, Germany is dominating the Europe testing, inspection and certification market which expected to propel the demand for testing, inspection, and certification services in Europe. The Europe has highly industrialized and leading industries including automotive, electronics, as well as food & beverages industry will have the positive impact on market.
Due to rise in competition in Europe from new markets and increase in demand for quality from consumers, and quality assurance are important for consumers. Most of the consumer goods and retail services make use of inspection, testing, and certification services. Companies based in UK are adapting to changed rules regarding activities in the area of testing, inspection, and certification.
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Increase in technological advancements and adoption of IoT (Internet of Things) will have the positive impact on market growth during this forecast period.
Market Restraints
Lack of internationally accepted standards and regulations is major challenging factor which expected to hinder the market growth. Various countries have their own rules and regulation standards. This factors influences the decision making of the manufacturer whether to export or not to a given country Standards, rules and regulations vary between different types of products and services. Meeting the international standards often results in a raised cost, as it is likely to lead to changing of design of a particular product or service.
Market Segmentation
Europe Testing, Inspection and Certification Market segmented into service type such as Certification, Inspection, and Testing, by Source such as Outsourced, and In-house. Further, market is segmented into end user such as Healthcare & Pharmaceutical, Food & Beverages, Consumer Good & Retail, Energy & Power, Manufacturing & Construction, and Others.
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Also, Europe Testing, Inspection and Certification Market is segmented into various countries such as Germany, UK, France, Turkey, Switzerland, Norway, Sweden, Spain, Italy, Denmark, Finland, Iceland, Poland, Luxembourg, Netherlands, and Belgium.
Market Key Players
Various key players are discussed in this report such as SGS SA, TUV SUD Limited, Applus Services Ltd, Bureau Veritas SA, Intertek Group PLC, ALS Limited, DNV GL, and DEKRA Automobil GmbH
Key Takeaways
• Increase in trend of Testing, Inspection, and Certification services being outsourced; the independent TIC organizations in the region, considering the presence of industrial control and smart equipments manufacturers in Europe.
• Advanced Technologies such as Big Data, Industry 4.0, and Artificial Intelligence, Blockchain, and Collaborative Social business are anticipated to positively impact the testing, inspection, and Certification, market.
Market Taxonomy
By Service Type
• Certification
• Inspection
• Testing
By Source
• Outsourced
• In-house
By End User
• Healthcare & Pharmaceutical
• Food & Beverages
• Consumer Good & Retail
• Energy & Power
• Manufacturing & Construction
• Others
By Country
• Germany
• UK
• France
• Turkey
• Switzerland
• Norway
• Sweden
• Spain
• Italy
• Denmark
• Finland
• Iceland
• Poland
• Luxembourg
• Netherlands
• Belgium
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Vishal Thakur
Research Support Specialist
QualiKet Research
6060 N Central Expy #500, TX 75204, U.S.A
Email: sales@qualiketresearch.com
Website: https://qualiketresearch.com
QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which help our clients outperform their competition.
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