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Testing, Inspection, and Certification Market to be Worth $150.9 Billion by 2030 - Exclusive Report by Meticulous Research®
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Testing, inspection, and certification (TIC) services help companies operating across various industrial verticals improve their productivity, efficiency, and process within departments. Such services help organizations meet globally recognized standards, regulations, and policies set by governments to improve the product's quality.
Earlier, TIC services' performance was strictly confined to internal operations and was conducted within a particular department. However, factors such as consistently growing competition, pressure to concentrate on core operations, and efforts to reduce overhead expenses encourage companies to opt for third-party TIC services. This significantly encourages the market growth of outsourced testing, inspection, and certification services. Besides, TIC services also help companies build brand recognition among consumers, thus boosting sales and earning better profits.
Meticulous Research® has segmented this market based on service, sector, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
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Based on service, in 2023, the testing services segment is expected to account for the largest share of the testing, inspection, and certification market. The large market share of this segment is attributed to the strong recommendations from regulatory authorities to ensure safety and the growing emphasis from companies to improve product quality. However, the certification services segment is projected to register the highest CAGR over the forecast period.
Based on sector, in 2023, the agriculture and food segment is expected to account for the largest share of the testing, inspection, and certification market. The large market share of this segment is attributed to the growing demand for organic and processed food and the need to ensure quality and improve the productivity of food products. This segment is also projected to register the highest CAGR over the forecast period.
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Based on geography, in 2023, Europe is expected to account for the largest share of the global testing, inspection, and certification market. The growth of this market is driven by the dynamic mandatory certification and government compliance and the presence of several industrial control and smart equipment manufacturers in the region. However, Asia-Pacific is slated to register the highest CAGR during the forecast period. This market is expected to witness rapid growth during the forecast period due to the strict regulatory standards imposed by governments, growing consumer awareness towards quality and environmental safety, and the rise in the illicit trade of forged & pirated goods.
The key players operating in the testing, inspection, and certification market are SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Intertek Group Plc. (U.K.), TÜV SÜD (Germany), Dekra SE (Germany), TÜV Rheinland Ag Group (Germany), APPLUS+ (Spain), Eurofins Scientific SE (U.S.), British Standards Institution (BSI) (U.K.), TÜV Lloyd's Register Group Limited (U.K.), Mistras Group, Inc. (U.S.), DNV GL (Norway), Element Materials Technology Ltd. (U.K.), ALS Ltd. (Australia), and UL LLC (U.S.).
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Scope of the Report:
Testing, Inspection, And Certification Market Assessment, by Service
Testing Services
Inspection Services
Certification Services
Testing, Inspection, And Certification Market Assessment, by Sector
Agriculture and Food
Retail
Construction
Machinery & Equipment
Oil & Gas
Chemicals
Automotive
Mining
Transportation
Healthcare
Energy & Utilities
Marine
Government
BFSI
Other Sectors
Testing, Inspection, And Certification Market Assessment, by Geography
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
UAE
Israel
Rest of Middle East & Africa
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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