With 3.8% CAGR, Testing, Inspection, and Certification Market Growth to Surpass USD 280.7 billion

The global testing, inspection, and certification (TIC) market was valued at USD 233.2 billion in 2024 and is projected to reach USD 280.7 billion by 2029; it is expected to register a CAGR of 3.8% during the forecast period. The rise in demand for TIC services is driven by stringent government regulations for ensuring product safety, the demand for interoperability testing, and the surge in trade involving counterfeit and defective products. Additionally, the growing emphasis on digitalization and the heightened importance placed on food safety and hygiene are expected to drive further expansion of the TIC market in the future.

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The in-house sourcing segment is poised to dominate the market share, particularly due to its prevalence in critical applications and industries such as the public sector and mining, which favor internal testing, inspection, and certification (TIC) services over outsourced alternatives. Companies in these sectors opt for in-house services to maintain complete control over their processes and production plants. This approach allows them to leverage their core business expertise and ensures rigorous adherence to standards. Building in-house capabilities necessitates investments in biotechnology, testing equipment, and skilled personnel. Approximately 60% of TIC services are conducted in-house, a trend notably observed in sectors like life sciences and utilities. For example, Intertek provides in-house TIC services for leading aerospace firms such as Boeing, Airbus, and GE Aviation, utilizing cutting-edge equipment to ensure compliance with rigorous standards for aircraft and components.

The medical and life sciences segment is anticipated to exhibit the highest growth rate in the testing, inspection, and certification (TIC) market during the forecast period. This growth surge is propelled by the continuous advancements in medical technology, necessitating stringent testing, inspection, and certification services to ensure patient safety and regulatory compliance. Vital medical devices such as active implants, in-vitro diagnostic devices (IVD), orthopedics, and more require meticulous evaluation through services like biocompatibility testing, electromagnetic compatibility (EMC) testing, clinical research, and wireless/telemedicine testing. Compliance with evolving regulatory standards mandates manufacturers to engage TIC services, facilitating international market access. Moreover, accreditation from regulatory bodies is imperative for TIC service providers to issue certifications in the medical devices sector, further driving the demand for these services in the medical and life sciences application segment.

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Vietnam to exhibit highest growth rate during the forecast period, the country's robust economic growth, increasing industrialization and urbanization, rising demand for quality and safety standards in various sectors, such as manufacturing, automotive, electronics, and agriculture are some factors attributing to the growth. Additionally, Vietnam's growing participation in global trade and its strategic location in Southeast Asia make it an attractive destination for investment and business expansion, driving the need for TIC services to ensure compliance with international regulations and standards. Moreover, government initiatives to enhance infrastructure, promote foreign investment, and strengthen regulatory frameworks further contribute to the growth of the TIC market in Vietnam.

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