Press release
Global Management System Certification Market Predicted to Near US$ 43.7 Billion by 2032
Management System Certification Market
Certified products hold significant advantages over non-certified counterparts, as uncertified objects, typically manufactured at lower costs, may have inferior quality components that fail to meet safety and quality standards. In contrast, certified products undergo rigorous testing to ensure compliance with the highest standards of user health and safety, making them reliable and safe for use across various industries.
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The demand for management system certification services is witnessing an uptick across sectors such as consumer electronics, aerospace, agriculture, and food commodities. Particularly, in the agricultural sector, there is a growing need for certification services to inspect seed and crop quality, encompassing various activities such as seed source verification, field inspections, genetic purity evaluations, and labeling.
Verification services play a pivotal role in ensuring the uniformity, completeness, and accuracy of goods throughout the product development lifecycle. Intertek, for instance, offers a range of services including document verification, production checks, inspections, and import/export verifications to ensure compliance with specified standards.
The growth in management system certification sales can be attributed to manufacturing enterprises' heightened focus on improving client retention. Quality-certified products not only enhance customer satisfaction but also reduce the risks and costs associated with product recalls. Businesses adhering to quality management system certification standards gain a competitive advantage and enhance their credibility and efficiency.
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Top Key Players are
SGS Group
Bureau Veritas
Intertek
TÜV Rheinland
Eurofins Scientific
Market Segmentations
By Certification Type : Product Certification, System Certification
By Service : Certification & Verification, Training & Business Assurance
By Application : Consumer Goods & Retail, Agriculture & Food, Construction & Infrastructure, Energy & Power, Industrial & Manufacturing, Medical & Life Sciences, Oil & Gas and Petroleum, Automotive, Aerospace, Marine, IT & Telecom
Regional Analysis
According to an updated analysis by Fact.MR, a market research and competitive intelligence provider, East Asia is projected to hold a 25.8% share of global market revenue by the end of 2034. This growth is driven by the increased demand for management system certification services in countries like China, Japan, and South Korea, which host prominent manufacturers and OEMs of consumer goods, electronic products, and semiconductors.
By the end of 2034, it's anticipated that the United States will dominate the North American market, capturing a 45.6% share. This projection aligns with the recent surge in sustainability certifications, driven by growing demand for eco-friendly practices and products. The digitization of certification processes is further enhancing transparency and efficiency in the products offered, contributing to this market trend.
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Competitive Landscape
Key players in the management system certification industry are implementing various strategies, including collaborations, new product launches, and partnerships, to enhance their market share and profitability.
For example:
In December 2020, SGS acquired RGIPL, a Singapore-based provider of geoengineering solutions for the infrastructure and construction sector. RGIPL offers solutions such as soil research, geotechnical engineering, and instrumentation and monitoring. SGS utilizes RGIPL's expertise to deliver safety, compliance, and quality services for construction and infrastructure projects.
Also in December 2020, Bureau Veritas introduced a comprehensive range of services for Electric Vehicle Charging Stations (EVCS), covering the entire lifecycle from design and construction to commission operations.
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