openPR Logo
Press release

Testing, Inspection, and Certification Market: Market Valuation Expected to Cross Over US$285 bn With Dominance of Four Key Players

11-29-2017 12:26 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Global Testing, Inspection and Certification Market: Snapshot

Rising awareness among global consumers regarding the qualitative assurance provided by international quality and safety standards is key to the rising prominence of testing, inspection, and certification services across a number of industries. A complex mix of local and universal standards and regulations, the global testing, inspection, and certification market is driven due to the rising imports and exports in the international market, and increasingly strict quality regulations.

Download Brochure@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=5669

Manufacturers are compelled to adhere to strict quality tests, inspections, and procure universally accepted certifications for participating in the international trade. This factor will stimulate the increased adoption of testing, inspection, and certification services across industries such as food and beverages, oil and gas, automotive, aerospace, and textile in the next few years.

Transparency Market Research suggests that the global testing, inspection, and certification market will expand at a healthy CAGR of 5.7% over the period between 2016 and 2024. As a result, the market, which had a valuation of US$178.65 bn in 2015, is expected to rise to US$285.34 bn by 2024.

Applications in Oil and Gas Industry to Create New Opportunities for Testing, Inspection, and Certification Market

The oil and gas industry emerged as the most promising end-use destination for the global testing, inspection, and certification market in the past few years. In 2015, the segment accounted for a dominant share of more than 35% in the global market. Testing, inspection, and certification services span across all stages in the lifecycle of any exploration and processing project, staring from feasibility analysis to the de-commissioning of the site.

Owing to the rising numbers of oil and gas exploration activities, in onshore as well as offshore sites, the oil and gas industry will continue to present the need for effective testing, inspection, and certification services. The segment will continue to dominate the global market through the year 2024 as well, exhibiting a healthy CAGR of 5.6%.

Emerging Markets to Present Untapped Opportunities as Imports and Exports Soar

Developing countries across regions such as Asia Pacific and Latin America possess enormous growth potential for the global testing, inspection, and certification market. Owing to the flourishing industrial sector and a significant rise in affluent consumers, these regions have become the hub of international imports and exports. To make products compliant with the diverse safety and quality norms in foreign lands, product manufacturers are compelled to strictly adhere to quality standards, driving the need for effective testing, inspection, and certification services.

The global market for testing, inspection, and certification services is expected to witness expansion at the fastest pace across Asia Pacific through 2024. The flourishing food and beverages industry in the region and rising awareness among consumers about the qualitative benefits of certified products will be the key factors driving the market in the region.

Market Features Intense Fragmentation and High Competitive Rivalry

The top four vendors in the global testing, inspection, and certification market accounted for nearly 29% of the global market in 2015. Other small- and mid-sized companies represented the dominant share of over 71% in the same year. This makes the market highly fragmented and intensely competitive.

Browse Report@ https://www.transparencymarketresearch.com/testing-inspection-certification-market.html

Europe has a prominent position in the competitive landscape, as the region has high concentration of some of the leading vendors operational in the global testing, inspection, and certification market. This also makes the region the largest contributor to the market’s overall revenues, accounting for over 30% of the global market in 2015.

About Us:-

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact Us:-

State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
Email: sales@transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Testing, Inspection, and Certification Market: Market Valuation Expected to Cross Over US$285 bn With Dominance of Four Key Players here

News-ID: 837501 • Views:

More Releases from Transparency Market Research

Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Study
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Stud …
The global 𝐭𝐢𝐬𝐬𝐮𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 reached a value of US$ 1,056.4 million in 2017 and is projected to nearly triple to US$ 2,903.3 million by 2026, with a robust Compound Annual Growth Rate (CAGR) of approximately 12.0% from 2018 to 2026. Factors such as increasing awareness about tissue donation, technological advancements, and a growing target patient population are anticipated to propel market growth during this period. Moreover, the market is expected
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
This report by Transparency Market Research, Inc. assesses the present state and future growth potential of the global 𝐯𝐚𝐬𝐜𝐮𝐥𝐚𝐫 𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭. It features a comprehensive executive summary, offering insights into various segments of the market. Additionally, the report provides detailed analysis and data on product, access type, application, end user, and regional segments within the global market. Vascular closure devices is estimated to reach a value of ~US$ 1 Bn
Digital Health Market Estimated at US$ 1.1 Trillion by 2031, TMR Study
Digital Health Market Estimated at US$ 1.1 Trillion by 2031, TMR Study
In 2022, the worldwide 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐇𝐞𝐚𝐥𝐭𝐡 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 garnered a valuation of US$ 382.5 billion. Projections indicate a steady growth trajectory, with a compound annual growth rate (CAGR) of 13.1% anticipated from 2023 to 2031, ultimately culminating in a total valuation of US$ 1.1 trillion by the conclusion of 2031. Market analysts foresee a promising outlook characterized by the burgeoning prevalence of chronic diseases and the increasing adoption of smartphones and internet
Global Data Center Networking Market Set to Surge, Forecasted to Reach US$ 56.3 …
The Data Center Networking Market is poised for remarkable growth, driven by the burgeoning demand for cloud-native applications and the rapid adoption of data center virtualization and cloud computing. With an estimated value of US$20.6 billion in 2021, the market is projected to surge at a robust CAGR of 10.8% from 2022 to 2031, reaching a staggering US$56.3 billion by the end of 2031. Get Sample Copy of This Report at:

All 5 Releases


More Releases for Testing

Test Automation Market | latest automation testing tools, automation testing too …
Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled “Test Automation Market “ The “Test Automation Market” report provides analysis of the global test automation market for the period 2015–2025, wherein the years from 2017 to 2025 is the forecast period and 2016 is considered as the base year. The report precisely
Sexually Transmitted Disease (STD) Diagnosis Market Report 2018: Segmentation by …
Global Sexually Transmitted Disease (STD) Diagnosis market research report provides company profile for Biocartis, Bio-Rad, Cepheid, Danaher, DiaSorin, Quidel, Abbott, Roche, Thermo Fisher Scientific, Aposcience, BCR Diagnostics, BD Medical and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year
Molecular Diagnostics Market Application On Infectious Disease Testing, Cardiova …
Worldwide Market Reports recently released “Global Molecular Diagnostics Market Research Report 2017” that centers around the latest developing trends and technologies in the Molecular Diagnostics Market having Five Years of forecast period from 2017 to 2022 and considering Market status study from 2017 to 2022. During the research, noteworthy data was collected in order to shape the research document and make it a valuable resource for managers, industry executives and other
Test Automation Market Quadruples by 2023; with a ~ 15.34 % of Whooping CAGR | C …
New Market Research Reports Title "Test Automation Market 2018" Has Been Added to Crystal Market Research Report database. Test Automation Market - Competitive Insights: The leading players in the market are Cognizant Corporation, IBM, Hewlett-Packard, Capgemini, Tata Consultancy Services and Infosys. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry. The Test
Latest Trend On Testing as a Service (TaaS) Market Research Report, Status and P …
The various factors supporting the market’s trajectory and those posing threat are studied in the report in detail. Furthermore, the market study segments the Global TaaS Industry 2018 Market Sales Market based on application and industry chain structure. In these sections, it covers various factors influencing the market’s trajectory across the segments. Furthermore, it identifies the most profitable of them all to help investors take the well-versed decision. The
Food Safety Testing Market Fostering Industry On Safety Test, Pathogen Testing , …
Global food safety testing market is expected to reach USD 22,327.02 million by 2025 from USD 12,760.00 million in 2017, at a CAGR of 7.5% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025. Get Sample of This Report: http://databridgemarketresearch.com/request-a-sample/?dbmr=global-food-safety-testing-market Global Industry Segmentation: The major factors contributing to the growth