Testing, Inspection, and Certification Market Segmentation, Analysis by Recent Trends, Development by Regions to 2027

Description
The global testing, inspection, and certification market size was USD 205.2 billion in 2020 and estimated to grow USD 282.9 billion by 2027, at a CAGR of 5.5% from 2021 to 2027. Testing, inspection, and certification (TIC) services range from auditing and inspection to testing, verification, quality assurance, and certification of the equipment, product, and more. These help in increasing the efficiency of products and services and minimizing risk. Testing, inspection, and certification services are applicable in automotive, consumer electronics, oil & gas, and more sectors, thus growing the demand for the testing, inspection, and certification (TIC) industry globally.

The increase in focus of manufacturing companies to improve consumer retention by offering quality products and surge in demand for interoperability testing for connected devices and IoT drive the growth of the testing, inspection, and certification market. Also, digital transformation of customer services and rapid adoption of breakthrough technologies are expected to offer lucrative opportunities for the global testing, inspection, and certification market growth.

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An increase in competition and low awareness among small-scale manufactures are the major factors that hamper the growth of the testing, inspection, and certification market. Rise in awareness for the need for testing, inspection, and certification and surge in need of safety are opportunistic factors for testing, inspection, and certification growth.

Global Testing, Inspection, and Certification Market Dynamics
Drivers: The increasing focus of manufacturing companies to improve customer retention by offering quality products
Quality products help companies achieve customer satisfaction and retention and reduce the risks and costs of product recalls. Companies gain a competitive edge by following quality management standards. Moreover, major certifications offered by recognized and credible authorities help such companies to improve their business creditability and overall efficiency. Companies communicate with consumers via adverts and marketing strategies to ensure product quality. As a result, many people go for branded and certified products. Thus, branded companies earn better revenues.

Additionally, governments encourage the use of certified products and services to ensure the safety of people. Food product companies in India having the FSSAI certification authenticate that their products are manufactured under strict regulations and safe to consume. Therefore, the strong focus of manufacturing companies to deliver high-quality goods and services to sustain their market position has helped TIC players to capture almost all industries.

Restraints: High cost of TIC services due to diverse standards and regulations
With internationalism in trades and businesses, distinct local regulations and standards are likely to create barriers to accepting products worldwide. This creates conflicts between the local and international standards, hampering the market growth. Variations in regulatory standards across different geographies lead to discrepancies in tax rates, thus incurring additional costs from companies (to handle tax-related issues, there is the hiring of local staff ). TIC companies are subject to local laws and have to abide by the regulations and norms of countries in which they operate; this may hamper their efficiency. Moreover, the risk related to the standardization and quality of testing and certification services provided by TIC companies always exists.

Scope of the Testing, Inspection, and Certification
The study categorizes the testing, inspection, and certification market based on service type, sourcing type, and application at the regional and global levels.

By Service Type Outlook (Sales, USD Million, 2017-2027)
Testing
Inspection
Certification
By Sourcing Type Outlook (Sales, USD Million, 2017-2027)
In-House
Outsource
By Application Outlook (Sales, USD Million, 2017-2027)
Quality and Safety
Production Evaluation
Industrial Inspection
System Certification
Others
By Region Outlook (Sales, USD Million, 2017-2027)
North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The in-house segment is projected to account for the largest market share, by sourcing type
The global testing, inspection, and certification market are divided into in-house and outsource based on sourcing type. In 2020, the in-house segment accounted for the largest market share in the global testing, inspection, and certification market. In-house testing services provide companies with complete control over the entire process. Companies with core business expertise in such services conduct this type of testing. To perform in-house TIC activities, a company must build in-house capabilities in terms of technology, testing and measurement equipment, and skilled personnel.

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This process is particularly evident in applications such as utilities, life sciences, and public sectors. The third-party TIC service is a cost-effective conformity assessment method that drives higher levels of compliance. It ensures greater customer satisfaction with safer products, helps government agencies improve efficiencies and manage their market surveillance resources. It helps manufacturers reduce in-house compliance costs and navigate global market requirements more easily. Operations carried out by companies offering in-house and outsourced TIC services may vary from application to application. Due to applications' criticality, industries such as the public sector and mining prefer in-house services rather than outsourcing TIC services.

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global testing, inspection, and certification market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The TIC market in the Asia Pacific is projected to have the highest CAGR during the forecast period. The high dependence of many European and American countries on Asia Pacific companies for medical devices, personal protective equipment kits, pharmaceuticals, and other necessary equipment, increased research and development in autonomous and connected cars (new and improved technologies). Improved lifestyles are the key factors driving the TIC market growth in APAC.

Many economically advanced countries have their manufacturing units in developing countries of Asia Pacific, especially in China, India, and Japan. These units are required to manufacture products in compliance with internationally accepted standards. The domestic markets in the Asia Pacific are growing rapidly owing to the rising per capita income among the middle-class population. Furthermore, there is growing consumer awareness about the importance of certification. More than 45 countries, including China, India, Japan, Taiwan, Singapore, Hong Kong, Thailand, and Australia, are considered to analyze the TIC market in APAC.

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Key Market Players
The testing, inspection, and certification market is mildly concentrated in nature with few numbers global players operating in the market such as Intertek Group PLC, SGS SA, Bureau Veritas SA, Underwriters Laboratories (UL), DNV GL, Eurofins Scientific SE, Dekra Certification GmbH, ALS Limited, BSI Group, SAI Global Limited, MISTRAS Group Inc., Element Metech (Exova Group PLC), TUV SUD Ltd, Applus Services SA, and Kiwa NV. Every company follows its business strategy to attain the maximum market share.

Recent Developments
In September 2021, Element Materials Technology (Element) had expanded its life sciences footprint in North America by acquiring Impact Analytical, Inc. FDA, DEA, GLP/GMP, ISO, EPA, and MDARD certifications are among Impact Analytical's important accreditations. The company complements Element's existing network of life sciences laboratories, which provide a wide range of testing services to the medical device, environmental, pharmaceutical, and food industries, as well as a long history of high-level scientific knowledge.
In August 2021, ALS Limited announced the acquisition of NUVISAN, a pharmaceutical testing business with operations in Germany and France. The acquisition represents an expansion of ALS' pharmaceutical offering into the drug development part of the supply chain. The acquisition provides the platform for ALS to expand its offering from quality control testing into 'upstream' services in R&D, which constitutes the majority of client spend.
In May 2021, DEKRA acquired Centro Misure Compatibilitá in Thiene, Italy. With this acquisition, DEKRA expanded its global laboratory network for electromagnetic compatibility and radio frequency testing. As a result, DEKRA is further consolidating its position as a global provider of future-ready testing and certification services and laying the foundation for further growth in the region.

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Key Issues Addressed
What is the market size by various segmentation of the testing, inspection, and certification by region and its respective countries?
What are the customer buying behavior, key takeaways, and Porter's five forces of the testing, inspection, and certification market?
What are the key opportunities and trends for manufacturers in the testing, inspection, and certification supply chain?
What are the market's fundamental dynamics (drivers, restraints, opportunities, and challenges)?
How are regulations, schemes, patents, and policies impacting the market's growth?
What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
The market player positioning, top winning strategies by years, company product developments, and launches will be?
How has COVID-19 impacted the demand and sales of testing, inspection, and certification in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.

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