TESTING, INSPECTION, & CERTIFICATION (TIC) MARKET ANALYSIS
Testing, Inspection, and Certification (TIC) Market Report, By Type (Management Systems Certification (MSC), Third-party Inspection, ASME, and Others), By Vertical (Oil & Gas, Chemicals, Life Sciences, Power & Utilities, Food, Beverages, & Agriculture, Transportation, Automotive & Aerospace, Consumer Products & Goods, Construction, Materials & Minerals, and Industrial Goods Manufacturing), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Global testing, inspection, and certification (TIC) market study analyzes management system certification, third-party inspection, ASME (The American Society of Mechanical Engineers, and other prospects. Increasing demand) for testing, inspection, and certification services in industries such as food and beverage, agriculture, consumer goods and products, oil and gas, and life sciences is driving growth of the global testing, inspection, and certification market.
SGS Group, Bureau Veritas SA, Intertek Group PLC, and TUV Rheinland Group are some of the key players in the testing, inspection, and certification (TIC) market. The global testing, inspection, and certification (TIC) market is dominated by few key players, and the leading 15 players hold around 40% of the testing, inspection, and certification (TIC) market share. According to Coherent Market Insights’ analysis, the ‘Others’ segment held the largest market share in the global testing, inspection, and certification (TIC) market in 2018.
Market Drivers: Increasing disposable income and rapid urbanization in developing economies
Increasing disposable income and rapid urbanization in developing economies is propelling growth of the testing inspection and certification (TIC) market. Disposable income increases due to development in various industries such as automotive, commodities, environmental, agriculture, consumer, food, oil & gas, life science, petrochemical, leisure, medical, education, trade, assurance, systems compliance, textile, and footwear. For all these developing sectors, testing inspection and certification is a service, which plays an important role in improving product quality. Moreover, increasing disposable income leads to higher consumption of products in end use industries, thereby increasing demand for safety and product quality.
Key features of the study:
- This report provides in-depth analysis of the global testing, inspection, and certification (TIC) market size (US$ Mn), and compound annual growth rate (CAGR %) for the forecast period (2019– 2027), considering 2017 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by leading players
- It profiles leading players in the global testing, inspection, and certification (TIC) market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, strategies, and future plans
- Companies covered as part of this study include SGS Group, Bureau Veritas SA, TUV Rheinland Group, Intertek Group PLC, ALS Limited, DNV GL, MISTRAS, Lloyd’s Register Group Limited, Underwriters Laboratories Inc., ABS Group, and ASTM International.
- Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding their future product launches, product upgrades, market expansion, and marketing tactics
- The global testing, inspection, and certification (TIC) market report caters to various stakeholders in the industry, including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision making through various strategy matrices used in analyzing the global Testing, Inspection, and Certification (TIC) market
Detailed Segmentation:
- Global Testing, Inspection, and Certification (TIC) Market, By Type:
- Management Systems Certification
- Third-Party Inspection
- ASME
- Others
- Global Testing, Inspection, and Certification (TIC) Market, By Vertical:
- Oil and Gas
- Chemicals
- Life Sciences
- Power & Utilities
- Food, Beverages, and Agriculture
- Transportation
- Automotive & Aerospace
- Consumer Products and Goods
- Construction
- Metals and Minerals
- Industrial Goods Manufacturing
- Global Testing, Inspection, and Certification (TIC) Market, By Region:
- North America
- By Type:
- Management Systems Certification
- Third-Party Inspection
- ASME
- Others
- By Methods:
- Oil and Gas
- Chemicals
- Life Sciences
- Power & Utilities
- Food, Beverages, and Agriculture
- Transportation
- Automotive & Aerospace
- Consumer Products and Goods
- Construction
- Metals and Minerals
- Industrial Goods Manufacturing
- By Country:
- U.S.
- Canada
- Europe
- By Type:
- Management Systems Certification
- Third-Party Inspection
- ASME
- Others
- By Methods:
- Oil and Gas
- Chemicals
- Life Sciences
- Power & Utilities
- Food, Beverages, and Agriculture
- Transportation
- Automotive & Aerospace
- Consumer Products and Goods
- Construction
- Metals and Minerals
- By Country:
- U.K.
- Spain
- France
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- By Type:
- Management Systems Certification
- Third-Party Inspection
- ASME
- Others
- By Methods:
- Oil and Gas
- Chemicals
- Life Sciences
- Power & Utilities
- Food, Beverages, and Agriculture
- Transportation
- Automotive & Aerospace
- Consumer Products and Goods
- Construction
- Metals and Minerals
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- By Type:
- Management Systems Certification
- Third-Party Inspection
- ASME
- Others
- By Methods:
- Oil and Gas
- Chemicals
- Life Sciences
- Power & Utilities
- Food, Beverages, and Agriculture
- Transportation
- Automotive & Aerospace
- Consumer Products and Goods
- Construction
- Metals and Minerals
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- By Type:
- Management Systems Certification
- Third-Party Inspection
- ASME
- Others
- By Methods:
- Oil and Gas
- Chemicals
- Life Sciences
- Power & Utilities
- Food, Beverages, and Agriculture
- Transportation
- Automotive & Aerospace
- Consumer Products and Goods
- Construction
- Metals and Minerals
- By Country:
- GCC Country
- South Africa
- Rest of the Middle East & Africa
- Company Profiles-Consultancy Companies
- SGS Group*
- Company Highlights
- Key Developments
- Product Portfolio
- Market Presence
- Strategic Presence
- Bureau Veritas SA
- TUV Rheinland Group
- Intertek Group PLC
- ALS Limited
- DNV GL
- MISTRAS
- Lloyd’s Register Group Limited
- Underwriters Laboratories Inc.
- ABS Group
- ASTM International
“*” marked represents similar segmentation in other categories in the respective section
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