Testing, Inspection And Certification (Tic) Services Market will reach at USD 412.2 billion by 2032 , by Keyplayers and Vendors:ALS Limited, DEKRA, Applus Services, AmSpec LLC, Corelab Laboratories, Apave, Eurofins Scientific, Bureau Veritas S. A., BSI Gr

The Testing, inspection, and certification market is projected to reach USD 412.2 billion by 2032 from USD 232.6 billion in 2022; it is expected to grow at a CAGR of 5.42% from 2022 to 2032. Testing, inspection, and certification services help producers improve productivity, meet global standards, and enhance product and service quality. These services (i.e., testing; inspection; verification; validation; certification; auditing; consulting; technical assistance and training; environmental quality, safety, health; asset integrity management; and project management services) can be adopted for any product, service, or process, irrespective of the sector in which the company operates. The demand for quality products has increased remarkably, reinforcing the need to assure that the manufactured products meet the national and international safety- and quality-related regulations.

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Market Dynamics:
Driver: Strict regulatory standards imposed by governments to ensure product safety and environmental protection
Increased risk to human life and environmental impact are the major concerns, creating awareness among consumers to adopt reliable and high-quality products. Organizations across the world are focused on implementing safety testing services to address product safety and quality concerns by adhering to government guidelines. These standards are designed to ensure product safety and reduce environmental impacts. For instance, in the automotive sector, governments have imposed stringent environmental regulations on original equipment manufacturers (OEMs) to control CO2 emissions. Similarly, in the US, the National Highway Traffic Safety Administration (NHTSA) and the National Transportation Safety Board (NTSB) recommended the deployment of collision avoidance systems. Thus, the enforcement of extensive government standards and stringent regulations to ensure passenger safety and security accelerates the demand for testing, inspection, and certification services in the coming years. Government initiatives and grants to uplift various sectors affected by COVID-19, such as automotive, are also expected to support the recovery and growth of the testing, inspection, and certification market. For instance, in 2020, the Japanese government proposed a package of approximately USD 240 billion to mitigate the economic impact of COVID-19 and help industries, such as automotive, to restart their production.

Major Key players profiled in the report include:
ALS Limited, DEKRA, Applus Services, AmSpec LLC, Corelab Laboratories, Apave, Eurofins Scientific, Bureau Veritas S. A., BSI Group, DNV GL, Mistras Group Inc., SAI Global Limited, Exova Group PLC, SOCOTEC, National Collateral Management Services Ltd, Lloyd`s Register Group, Intertek Group PLC, SGS SA, RINA Group, Kiwa Group, SYNLAB, UL LLC, TUV SUD, TUV Nord, TUV Rheinland

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By Service Type:
Testing Service
Inspection Service
Certification Service

By Sourcing Type:
In-House Sourcing
Outsourced

By Application:
Medical & Life Science
Consumer Goods & Retail
Agriculture & Food
Chemical
Construction & Infrastructure
Energy & Power
Industrial & Manufacturing
Mining
Oil & Gas and Petroleum
Public Sector
Automotive
Aerospace
Marine
Rail
Supply Chain & Logistics
IT & Telecommunication
Sports & Entertainment

By Region:
North America
Europe
Asia Pacific
RoW

Recent Developments
In November 2021, SGS enhanced its portfolio of sustainability solutions by acquiring a majority stake in Sulphur Experts Inc., headquartered in Calgary, Alberta, Canada. Sulphur Experts is a highly recognized company that not only provides process engineering, consulting, specialized Testing, and training services but also supports companies involved in amine gas treating and sulfur recovery activities to optimize their performance and reduce the impact of their activities on the environment.
In November 2021, SGS opened a new laboratory in Qingdao to enhance its chemical testing capabilities in China. The 1,500 M2 lab, which has recently received the ISO 17025 accreditation, is able to provide a range of services, including pharmaceutical and raw material testing, drug packaging material testing, medical device testing, medical consumable Testing, and extractable and leachable Testing.

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What is the Commercial Potential of TIC?
Testing, inspection, and certification firms cover a wide variety of industry sectors as well as a large array of standards and legislation. As a result, independent TIC service providers play a critical role in almost every economic sector.

Some of the key testing & certification services include safety and quality controls through conformity valuation. As such, they include supply chain certifications, industrial site inspections, quality monitoring, control system auditing and certification, annual vehicle inspections, pre-shipment inspections, consignment-based conformity tests, and several more.

Oil, gas, and chemical industries account for more than 15% of testing, inspection, and certification services. In addition, SMEs' awareness of the quality and safety of chemicals used in various manufacturing operations is boosting market revenue.

What market dynamics does this report cover?
The report shares key insights on:

Current market size
Market forecast
Market opportunities
Key drivers and restraints
Regulatory scenario
Industry trend
New product approvals/launch
Promotion and marketing initiatives
Pricing analysis
Competitive landscape
It helps companies make strategic decisions

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Will Research & Development Aid Market Growth?
Some of the leading companies are investing in research & development activities to gain a competitive advantage. The electrical & electronics sector is expected to expand rapidly due to growing research & development expenses to meet changing demands.

Rising demand for safety and comfort has prepared the path for major developments as well as research & development from original equipment manufacturers and automobile dealers for the testing of electronics parts and compliance with government regulations.

Leading players are introducing a range of initiatives in a bid to enhance productivity and customer experience. Rather than developing proprietary software, they often pursue strategic partnerships with specialist technology providers.

Which End-use Industry in the U.S. is Driving Demand for TIC?

The market in the U.S. is expected to grow through industrial variability due to growing demand for inspection and testing processes at regular intervals across industries such as oil & gas. Many improvements in certification requirements and development projects have been announced by the U.S. government, which will enhance demand for TIC in the country.

Also, widespread mining activities are being carried out in the country, which is leading to high growth of TIC service providers in the United States.

Why Does Germany Holds Maximum Potential in Europe for TIC Services?

In Germany, introduction of stringent environmental standards and increased health safety initiatives play an important role in ensuring that facilities, utilities, and products meet the necessary standards and regulations. Germany has a robust foothold of players such as TUV SUD Group and DEKRA Certification, contributing to positive market growth.

Which End-use Industry has Huge Potential for Testing, Inspection, and Certification Services?

Food & agriculture, industrial, and oil & gas sectors will show huge potential for TIC services over the coming years. Also, the oil, gas and chemicals end-use sector is a high-potential end user for TIC services. Agriculture and food industries are built on the principles of integrity, safety, and sustainability, and close monitoring of each principle is highly important.

TIC services for the agriculture industry are required to ensure quality and improve the productivity of food products. These services also support companies playing a crucial role in trading agricultural commodities and food products in acquiring international certifications.

Opportunities Abound for TIC Service Providers

According to Persistence Market Research, demand for testing, inspection, and certification will be higher from the industrial sector across geographies. Moreover, new research & development in TIC will provide lucrative opportunities for manufacturers in the industrial and oil, gas, and chemicals end-use sectors.

These new developments will enhance growth in industrial applications and help in enhancing the compatibility of TIC companies with future appraisal and development, thereby propelling demand for TIC services over the forecast period.
Service Type Insights
The testing segment accounted for the largest revenue share of over 70.0% in 2021. This is owing to the high use of testing practices in the automotive, energy and utilities, oil and gas and petroleum, and the manufacturing industries. Practical testing of products enables companies to maintain high-quality parameters and meet the needs of customers. This is promoting companies from various industries to increase operational expenditure on the investment of testing equipment, thereby offering an impetus to market growth. For instance, in November 2021, Wallace Instruments, one of the brands of testing equipment for the global rubber industry, announced the release of the WAC11 Mk5 Compression Stress Relaxometer, the next generation of their Compression Stress Relaxometer. CSR is a "relevant standard" used in industries like automotive, aerospace, energy and utilities, and construction to testify to the durability of an elastomer seal when held in compression throughout time in varied settings. The WAC11 Mk5 enables the operator to quickly evaluate the compression stress relaxation (CSR) properties of O-rings, rubber seals, and gaskets under international standards to assess long-term sealing behavior and predict service life.

Regional Insights
Asia Pacific dominated the global market in 2021 with a revenue share of over 30.0%. The high revenue share can be attributed to rising economic development in countries such as China, India, Japan, and South Korea. This has led to an increase in the industrial and manufacturing activity in the region, thereby offering growth opportunities to the TIC market. Furthermore, the rapidly developing AI technology ecosystem in Singapore further facilitates software and programs, subsequently enabling the growth of testing and inspection services. For instance, in February 2022, Applus+, one of the prominent players in testing, inspection, and certification, expanded its presence in Indonesia with ASME Certification (American Society of Mechanical Engineers). Further, the company would take a significant effort as an Authorized Inspection Agency to ensure its inspectors have the highest technical expertise in the region. Their staff would assist customers with certification inspections and actively participate in the inspection process.

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