Testing, Inspection & Certification (TIC) market is estimated to reach $115 billion by 2022

Market Highlights

The global market for Testing, Inspection & Certification (TIC) market is expected to grow over the CAGR of around 5% during the period 2016 to 2022 and expected to grow at market size of USD 115 billion in 2022.

The Global Testing, Inspection & Certification (TIC) market has been evaluated as growing market and expected that the market will touch high growth figures in Asia-Pacific region during forecast period.

Major Key Players

• Bureau Veritas SA (France),
• Intertek Group plc. (U.K.),
• MISTRAS Group, Inc.(U.S.),
• BSI Group (U.K.),
• Dekra Certification GmbH (Germany),
• ALS Limited (Australia),
• ASTM International (U.S.),
• SAI Global Limited (Australia),
• UL LLC (U.S.).
• SGS group (Switzerland),

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Recently, in December 2016, SGS group has implemented new verification program for import business and has replaced existing pre-shipment inspection program. Under this new verification process a non-intrusive inspection process is performed on arrivals of goods to Cameroon.
It has also acquired Laagrima, headquartered in
Morocco to diversify its testing business to food and hospitality market. Other major market players such as BSI Group, SAI Global Limited, MISTRAS Group, Inc., and UL LLC among others is also investing and developing testing & inspection methods which thereby is fuelling the market growth.

Testing, Inspection & Certification (TIC) Market:

The Testing, Inspection & Certification (TIC) can be segmented into types and end-users. Types of Testing, Inspection & Certification (TIC) available in the market are in-house testing and outsourced testing among others. End-user segment is categorized into Oil & gas, aerospace, food & beverage, automotive, petroleum and textile among others.

Taste the market data and market information presented through more than 40 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Testing, Inspection & Certification (TIC) Market Research Report -Forecast to 2022”

Market Research Analysis:

Globalization has led to increase trade between emerging countries. At present, during import and export of the industrial products, strict rules and stringent quality check procedure has been applied before transportation of the products. Testing, inspection & certification is the essential and growing requirement of manufacturing units by various industrial sectors. To certain with product quality check without any rejection before product transportation, industries are adopting testing and inspection services into their production process.

The high demand of testing, inspection & certification (TIC) by various industrial sectors such as textiles, automotive, petrochemical, and oil & gas sector followed by aerospace and food & beverage sectors. The increasing inclination of out-sourced testing services, growing awareness about quality check among consumers, and growing manufacturing units in emerging economies such as China and India is supporting the market growth of testing, inspection and certification services.

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Segments for Testing, Inspection and Certification (TIC) Market:

Segmentation by Types:
• In-House
• Outsourced
Segmentation by End-Users
• Oil & Gas
• Aerospace
• Food & Beverage
• Automotive
• Petroleum
• Textile

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