North America Testing, Inspection and Certification (TIC) Market 2022 Analysis by Global Manufacturers - SGS SA, Intertek Group Plc, Bureau Veritas, TUV SUD

Market Insights Reports has added new statistical data to its repository titled as, Global North America Testing, Inspection and Certification (TIC) Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The North America Testing, Inspection and Certification (TIC) market report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.

The North America testing, inspection and certification (TIC) market was valued at USD 42.53 billion in 2020, and it is expected to reach USD 52.82 billion by 2026, registering a CAGR of 3.8% during the forecast period (2021-2026).

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Top Key Players in the Global North America Testing, Inspection and Certification (TIC) Market is SGS SA, Intertek Group Plc, Bureau Veritas, TUV SUD, Applus Services, SA, UL LLC, DNV GL, Mistras Group, Avomeen LLC, Envigo Corporation, AB Sciex LLC, DEKRA SE, ALS Limited, and others. 

Industry News and Update:

- April 2020 - Intertek, a leading total quality assurance provider to industries, announced the updated version of its Intertek Global Security Verification standard. Since its inception, the GSV standard has been used to promote best practices throughout the global trade industry, enabling importers and suppliers to mitigate risks associated with the cross-border transport of goods. GSV 2.0 gives organizations increased safety assurance and a common industry platform for collaboration.

- January 2020 - Bureau Veritas, one of the leaders in testing, inspection, and certification (TIC) services, announced to bring on new talent across every continent in 2020, including engineers, surveyors, inspectors, auditors, laboratory technicians, as well as business support. It intents to hire more than 2,000 positions in the United States, 2,000 new talents in Europe, and 8,000 in Asia-Pacific. To support its robust growth, Bureau Veritas is expanding its recruitment efforts to bolster talent pools.

Key Market Trends:

Consumer Goods and Retail Holds Significant Market Share

- The North American market is significantly driven by the rising number of rigorous government regulations to promote consumer safety and enhance its quality. The region has been importing billions of dollars of products, primarily to fulfill its domestic consumer's rapidly growing demands. Consumer products and retail are expected to be one of the fastest-growing segments, majorly due to the global expansion of online retail platforms.
- TIC services offered by the market vendors studied to cover the entire consumer products' value chain from the plan, buy, and make, to ship, stock, and sell to enable making informed quality and sourcing decisions. These testing services verify that the products are safe and conform to specifications. The advisory and inspection services enable customers to meet regulatory requirements.
- The increasing adoption of smart and wireless devices in the sector is also attracting many vendors to offer a range of product certification programs for smart and wireless devices to help customers meet the industry standards. These programs address various technologies, including Bluetooth SIG, NFC Forum, LoRa Alliance, GCF, and PTCRB for cellular. These certifications are required if products leverage cellular and wireless technologies.
- Further, in Aug 2020, NTS, a player in the testing, inspection, and certification, announced a milestone development in its strategic partnership with the United States Specialty Sports Association (USSSA). After the designation of NTS as the sole source for all the certification testing of Slow-Pitch Softball and Senior Youth Baseball Bats, USSSA will primarily require all the bats' manufacturers to include the NTS on the official test certification stamp.

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This Global North America Testing, Inspection and Certification (TIC) Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2026

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place.                              

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