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Global Testing, inspection and certification market is embarked to have a stellar growth in the forthcoming years backed by tremendous technological leap, rising mindfulness pertaining to health and safety and stringency in environmental protection, paving ample growth opportunities. Enterprise adoption of testing, inspection, and certification features (TIC) across industry verticals is likely to sustain growth prognosis optimistically, concludes Orbis Research in a new research compilation.Request a sample of this report @ https://www.orbisresearch.com/contacts/request-sample/2159150
Business verticals such as F&B and construction verticals are set to invigorate higher reliance on testing, inspection and certification practices owing stringent regulatory protocols governing quality assurance. Trade relationships which are rising exponentially, encouraging cross border trade, need to adopt testing, inspection and certification practices have skyrocketed tangibly, and expected to rise further. Technological investments to ensure high performance and investment returns are paving new opportunities with drone based workflow for efficiency and agility.
The Global Testing, Inspection and Certification Market is accounted for $184.2 billion in 2017 and is expected to reach $312.25 billion by 2026 growing at a CAGR of 6.0% during the forecast period. The growth of this market is driven by increasing goods in emerging nations, increase in product recalls, government regulations and standards also various companies are offering TIC services. However, various standards and regulations, complex nature of supply chains across geographies are restraining the market.
Testing, Inspection and Certification (TIC) is a process performed to ensure that the manufactured products, component systems are adequate for the intended purpose. Inspection and testing are performed before, during and after manufacturing to ensure the quality of the product while certification refers to the confirmation of the quality of the product. Performance of these services is required to meet various safety and quality requirements of national and international standards.
Based on application, transportation segment dominates the marekt due to the factors such as strict regulations and legislations. It includes automotive, marine, aerospace and defense, and rail. These industries are required to continually meet the highest levels of safety and reliability for the safety of passengers and assets. By type outsourced services is anticipated to grow at the highest CAGR during the forecast period owing to focus on their core business and avoid high in-house laboratory costs.
Europe accounted for largest share in the Testing, Inspection and Certification market due to continual introduction of new rules such as energy efficiency in construction and rising focus on outsourcing. Asia Pacific market is expected to witness a significant growth over the forecast period owing to rising number of manufacturing facilities in India and China, increased demand of consumer electronics as well as growing consumer awareness towards quality is aiding the market growth.
Some of the key players profiled in the report include DNV GL Group AS, ALS Limited, Mistras, Eurofins Scientific, Element Materials Technology, Dekra SE, Bureau Veritas SA, UL, TUV Nord, TUV Rheinland, SGS, Avomeen Analytical Services, Envigo, Intertek Group PLC, Medistri, Lloyd’s Register, Applus, ASTM International and Asure Quality Limited.
Sourcing Types Covered:
Outsourcing
In-House
Service Types Covered:
Inspection
Testing
Certification
Other Service types
Application Covered:
Industrial and Manufacturing
Energy & Power
Consumer Goods and Retail
Medical and Life Science
Oil & Gas and Petroleum
Mining
Public Sector
Agriculture and Food
Construction and Infrastructure
Supply Chain and Logistics
Transportation
Chemicals
Methodologies Covered:
Internal Condition
External Condition
Other Methodology
Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
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Major Points from Table of Contents:
1 Executive Summary
2 Preface
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Testing, Inspection, and Certification (TIC) Market, By Sourcing Type
6 Global Testing, Inspection, and Certification (TIC) Market, By Service Type
7 Global Testing, Inspection, and Certification (TIC) Market, By Application
8 Global Testing, Inspection, and Certification (TIC) Market, By Methodology
9 Global Testing, Inspection, and Certification (TIC) Market, By Geography
10 Key Developments
11 Company Profiling
11.1 DNV GL Group AS
11.2 ALS Limited
11.3 Mistras
11.4 Eurofins Scientific
11.5 Element Materials Technology
11.6 Dekra SE
11.7 Bureau Veritas SA
11.8 UL
11.9 TUV Nord
11.10 TUV Rheinland
11.11 SGS
11.12 Avomeen Analytical Services
11.13 Envigo
11.14 Intertek Group PLC
11.15 Medistri
11.16 Lloyd’s Register
11.17 Applus
11.18 ASTM International
11.19 AsureQuality Limited
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