Global Testing Inspection and Certification Market is expected to rise from its initial estimated value of USD 199.48 billion in 2018 to an estimated value of USD 294.05 billion by 2026, registering a CAGR of 4.97% in the forecast period of 2019-2026. Increasing preference for outsourcing service model is the major factor for the growth of this market.
Testing inspection and certification is a kind of a testing body which provide different services like inspection, verification, auditing, certification etc. The main aim of this service is to improve the productivity of the company. These days, TIC is widely used in industries like agriculture, medical, chemicals, constructions, oil & gas etc. to maintain the quality and safety standards.
Global Testing Inspection and Certification Market Competitive Analysis:
Global testing inspection and certification market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of testing inspection and certification market for global, Europe, North America, Asia-Pacific and South America.
Global Testing Inspection and Certification Market Major Competitors/Players:
Few of the major competitors currently working in testing inspection and certification market are:-
- SGS SA,
- Intertek Group plc,
- Eurofins Scientific,
- TÜV SÜD,
- DNV GL AS,
- TÜV Rheinland,
- ALS Limited,
- TÜV NORD GROUP,
- Lloyd’s Register Group Services Limited.,
- MISTRAS Group, Inc.,
- Element Materials Technology,
- UL LLC,
- VDE Prüf- und Zertifizierungsinstitut GmbH,
- Keystone Compliance,
- FORCE TECHNOLOGY,
- HV Technologies, Inc.
- Rapid urbanization in many countries is expected to act as a driver to the market growth
- Increasing demand for integrated standards is another factor driving the market
Key Developments in the Market:
In December 2018, Top companies of the testing, inspection and certification (TIC) industry announced the launch of the TIC Council. This council will be in Brussels and will consist of the 90 members of different companies. The main aim is to create a safe and sustainable surrounding for the people working in the trade business.
In November 2018, SGS announced the launch of their online portal so that they can make the testing inspection and certification services available to customers in just one click. This will provide more than 100 services like fuel testing, supply chain solutions and pesticides analysis. The main aim is to provide customers the services that they desire easily anywhere.
Major Points from Table of Content:
- Research Methodology
- Executive Summary
- Key Inferences
- Market Overview
- Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
- Market Segmentation
- Competitive Landscape
- Key Players
- Future of the Market
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