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Testing, Inspection, & Certification Market worth $405.11 billion by 2030, growing at a CAGR of 7.78% - Exclusive Report by 360iResearch
Testing, Inspection, & Certification Market | 360iResearch
The Global Testing, Inspection, & Certification Market to grow from USD 239.71 billion in 2023 to USD 405.11 billion by 2030, at a CAGR of 7.78%.
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Testing, inspection, and certification (TIC) include various services to assess and verify the quality, safety, compliance, and performance of products, systems, processes, and services. TIC providers offer expertise in evaluating various parameters, including product functionality, performance, durability, safety, regulatory compliance, and environmental impact. Increasing stringent regulations across various industries, such as manufacturing, healthcare, automotive, aerospace, and food safety, drive the demand for TIC services. The evolution of international trade and globalization has created a need for TIC services to ensure that products meet different countries' regulatory requirements. The high cost of TIC services, as they are resource-intensive and involve complex testing procedures, inspections, and audits, hampers the market growth. The ongoing digital transformation across industries presents opportunities for TIC companies to offer digital solutions such as remote inspections, virtual audits, and data analytics.
Growing regulatory requirements and quality assurance needs are expanding the scope of TIC services in the Americas, APAC, and Europe. The Americas region has a complex regulatory landscape with varying requirements across countries and industries. The U.S. Food and Drug Administration (FDA), Environmental Protection Agency (EPA), and Occupational Safety and Health Administration (OSHA) are some of the regulatory authorities in the region that introduce rules and regulations associated with the manufacturing, commercialization, and usage of several products and services. The expanding industrial sectors, such as manufacturing, automotive, electronics, healthcare, and construction, contribute to the increasing demand for TIC services in Asia-Pacific to ensure compliance with quality, safety, and environmental standards. The increasing adoption of advanced and novel technologies such as artificial intelligence, 5G, the Internet of Things, and robotics in the Americas and Europe is expected to expand the adoption of TIC services for software testing, conformity assessment, and validation of emerging technologies.
Market Segmentation & Coverage:
This research report categorizes the Testing, Inspection, & Certification Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Service Type, market is studied across Certification, Inspection, and Testing. The Certification commanded largest market share of 51.21% in 2023, followed by Inspection.
Based on Source, market is studied across In-House and Outsourced. The Outsourced commanded largest market share of 82.70% in 2023, followed by In-House.
Based on Vertical, market is studied across Aerospace & Defense, Automotive & Transportation, Chemicals & Materials, Consumer Goods & Retail, Energy & Natural Resources, Food & Beverage, Healthcare & Life Sciences, Manufacturing & Construction, and Telecommunications & Computing. The Manufacturing & Construction is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 37.99% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Testing, Inspection, & Certification Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Testing, Inspection, & Certification Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Testing, Inspection, & Certification Market, highlighting leading vendors and their innovative profiles. These include ALS Limited, Applus Services SA, ATIC (Guangzhou) Co., Ltd., Bureau Veritas SA, CESI S.p.A, Combined Selection Group Ltd., CSA Group, Dekra SE, DNV AS, Element Materials Technology Group Limited, Eurofins Scientific SE, IFS Aktiebolag, Intertek Group PLC, Kiwa NV, LabWare, Inc., Medistri SA, Mistras Group, Inc., Riverside Company, SGS SA, Spinnsol, Super.AI Inc., TUV Nord AG, TUV Rheinland Group, TÜV SÜD, and UL LLC.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Testing, Inspection, & Certification Market, by Service Type
7. Testing, Inspection, & Certification Market, by Source
8. Testing, Inspection, & Certification Market, by Vertical
9. Americas Testing, Inspection, & Certification Market
10. Asia-Pacific Testing, Inspection, & Certification Market
11. Europe, Middle East & Africa Testing, Inspection, & Certification Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Testing, Inspection, & Certification Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Testing, Inspection, & Certification Market?
3. What is the competitive strategic window for opportunities in the Testing, Inspection, & Certification Market?
4. What are the technology trends and regulatory frameworks in the Testing, Inspection, & Certification Market?
5. What is the market share of the leading vendors in the Testing, Inspection, & Certification Market?
6. What modes and strategic moves are considered suitable for entering the Testing, Inspection, & Certification Market?
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