Testing, Inspection, & Certification (TIC) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Testing, Inspection, & Certification (TIC) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Testing Inspection & Certification Market

The testing inspection & certification market size was valued at USD 208.43 billion in 2021, and the market is now projected to grow from USD 217.31 billion in 2022 to USD 328.23 billion by 2029, exhibiting a CAGR of 6.1% during the forecast period of 2021-2029.

During this time, the lack of raw materials hindered the production of materials. This thus hampered market expansion and upset the entire supply chain. The fall in demand caused by the automotive and construction sectors also had an effect on the testing inspection & certification market growth. People get homesick as a result of the government's restrictions on social events, gatherings, and moving away from home. Component manufacturing were either partially or completely shut down as a result of the nationwide shutdown. The COVID pandemic is posing challenges for many businesses since it has reduced output and the supply chain, which has caused the market to shift to treating COVID patients as a priority over other operations, which has fueled the expansion of the inspection, repair, and maintenance market. Additionally, because of movement restrictions and lockdowns in various regions, manufacturing plants experienced a shortage of staff, which hindered productivity. stopped offering on-site installations and maintenance; in the midst of the pandemic, market growth faltered.

Growth is driven by stringent laws and regulations as well as an increasing need for product standardization. To comply with legal requirements, consumer goods must pass quality and safety testing conducted by an impartial laboratory. Growth is fueled by stricter laws and regulations that manufacturers must adhere to globally in order to protect people and the environment. The classification, labeling, and packaging/globally harmonized system (CLS/GHS), REACH, CE and RE Marking, EU Children Safety, Toy Safety Act, and other safety regulations, for example, must be followed by producers in European nations. These requirements are in place to ensure that products fulfill safety and quality requirements.

TIC Services' incorporation of cutting-edge technologies like blockchain and artificial intelligence promotes market expansion during forecast period. Due to the increased demand for consumer goods testing and inspection and the rise in online shopping, the TIC business offers tremendous opportunity to its participants.

Comprehensive Analysis of Testing Inspection & Certification Market

The testing inspection & certification market and information & communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the information & communication technology benefit management industry. These segmentations are methodically segregated by service types, by sourcing type and by industry. The service types segmentations include Testing, Inspection, and Certification, By Sourcing Type segmentations include In-House and Outsource), By Industry segmentations include Consumer Goods & Retail, Agriculture & Food, Chemicals, Oil & Gas, Manufacturing, and Others. s

The Europe region lead the testing inspection & certification market by benefitting a market size of USD 74.49 billion in 2021 due to stringent laws and regulations as well as an increasing need for product standardization and TIC Services' incorporation of cutting-edge technologies and raising awareness of both conventional and bespoke items among consumers.

The top players in the market play a crucial role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players include, SGS SA (Switzerland), Bureau Veritas (BV) (France), Dekra Certification B.V. (Netherlands), Intertek Group PLC (U.K.), TUV SUD AG (Germany), APPLUS+ (Spain), ALS Limited (Australia), Eurofins Scientific SE (Belgium), DNV GL (Norway), Socotec Group (U.K.) these market players provide a level-playing competitive landscape.

In January 2022, Microsoft and SGS announced their partnership to develop innovative digital TIC services. Microsoft will create innovative solutions for clients in this market by leveraging its worldwide network, industry expertise, productivity platforms, and cross-industry understanding.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2018-2029

Base Year 2021

Estimated Year 2022

Forecast Period 2022-2029

Historical Period 2018-2020

Unit Value (USD billion)

Segmentation By Service Type, Sourcing Type, Industry, and Region

By Service Type Testing

Inspection

Certification

By Sourcing Type In-House

Outsource

By Industry Consumer Goods & Retail

Agriculture & Food

Chemicals

Oil & Gas

Manufacturing

Others

By Region North America (By Service Type, Industry, and Country)

U.S. (By Service Type)

Canada (By Service Type)

Mexico (By Service Type)

Europe (By Service Type, Industry, and Country)

U.K. (By Service Type)

Germany (By Service Type)

France (By Service Type)

Italy (By Service Type)

Spain (By Service Type)

Russia (By Service Type)

Benelux (By Service Type)

Nordics (By Service Type)

Rest of Europe

Asia Pacific (By Service Type, Industry, and Country)

China (By Service Type)

Japan (By Service Type)

India (By Service Type)

South Korea (By Service Type)

ASEAN (By Service Type)

Oceania (By Service Type)

Rest of Asia Pacific

Middle East & Africa (By Service Type, Industry, and Country)

Turkey (By Service Type)

Israel (By Service Type)

GCC (By Service Type)

North Africa (By Service Type)

South Africa (By Service Type)

Rest of Middle East & Africa

South America (By Service Type, Industry, and Country)

Brazil (By Service Type)

Argentina (By Service Type)

Rest of South America


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1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19
3.3.1. Short-term Impact
3.3.2. Long-term Impact
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Testing, Inspection and Certification (TIC) Key Players Market Share Insights and Analysis, 2021
5. Global Testing, Inspection, and Certification (TIC) Market Size Estimates and Forecasts, By Segments, 2018-2029
5.1. Key Findings
5.2. By Service Type (USD)
5.2.1. Testing
5.2.2. Inspection
5.2.3. Certification
5.3. By Sourcing Type (USD)
5.3.1. In-House
5.3.2. Outsource
5.4. By Industry (USD)
5.4.1. Consumer Goods & Retail
5.4.2. Agriculture & Food
5.4.3. Chemicals
5.4.4. Oil & Gas
5.4.5. Manufacturing
5.4.6. Others
5.5. By Region (USD)
5.5.1. North America
5.5.2. Europe
5.5.3. Middle East & Africa
5.5.4. Asia Pacific
5.5.5. South America
6. North America Testing, Inspection, and Certification (TIC) Market Size Estimates and Forecasts, By Segments, 2018-2029
6.1. Key Findings
6.2. By Service Type (USD)
6.2.1. Testing
6.2.2. Inspection
6.2.3. Certification
6.3. By Sourcing Type (USD)
6.3.1. In-House
6.3.2. Outsource
6.4. By Industry (USD)
6.4.1. Consumer Goods & Retail
6.4.2. Agriculture & Food
6.4.3. Chemicals
6.4.4. Oil & Gas
6.4.5. Manufacturing
6.4.6. Others
6.5. By Country (USD)
6.5.1. United States
6.5.1.1. By Service Type
6.5.2. Canada
6.5.2.1. By Service Type
6.5.3. Mexico
6.5.3.1. By Service Type
7. Europe Testing, Inspection, and Certification (TIC) Market Size Estimates and Forecasts, By Segments, 2018-2029
7.1. Key Findings
7.2. By Service Type (USD)
7.2.1. Testing
7.2.2. Inspection
7.2.3. Certification
7.3. By Sourcing Type (USD)
7.3.1. In-House
7.3.2. Outsource
7.4. By Industry (USD)
7.4.1. Consumer Goods & Retail
7.4.2. Agriculture & Food
7.4.3. Chemicals
7.4.4. Oil & Gas
7.4.5. Manufacturing
7.4.6. Others
7.5. By Country (USD)
7.5.1. United Kingdom
7.5.1.1. By Service Type
7.5.2. Germany
7.5.2.1. By Service Type
7.5.3. France
7.5.3.1. By Service Type
7.5.4. Italy
7.5.4.1. By Service Type
7.5.5. Spain
7.5.5.1. By Service Type
7.5.6. Russia
7.5.6.1. By Service Type
7.5.7. Benelux
7.5.7.1. By Service Type
7.5.8. Nordics
7.5.8.1. By Service Type
7.5.9. Rest of Europe
8. Asia Pacific Testing, Inspection, and Certification (TIC) Market Size Estimates and Forecasts, By Segments, 2018-2029
8.1. Key Findings
8.2. By Service Type (USD)
8.2.1. Testing
8.2.2. Inspection
8.2.3. Certification
8.3. By Sourcing Type (USD)
8.3.1. In-House
8.3.2. Outsource
8.4. By Industry (USD)
8.4.1. Consumer Goods & Retail
8.4.2. Agriculture & Food
8.4.3. Chemicals
8.4.4. Oil & Gas
8.4.5. Manufacturing
8.4.6. Others
8.5. By Country (USD)
8.5.1. China
8.5.1.1. By Service Type
8.5.2. India
8.5.2.1. By Service Type
8.5.3. Japan
8.5.3.1. By Service Type
8.5.4. South Korea
8.5.4.1. By Service Type
8.5.5. ASEAN
8.5.5.1. By Service Type
8.5.6. Oceania
8.5.6.1. By Service Type
8.5.7. Rest of Asia Pacific
9. Middle East & Africa Testing, Inspection, and Certification (TIC) Market Size Estimates and Forecasts, By Segments, 2018-2029
9.1. Key Findings
9.2. By Service Type (USD)
9.2.1. Testing
9.2.2. Inspection
9.2.3. Certification
9.3. By Sourcing Type (USD)
9.3.1. In-House
9.3.2. Outsource
9.4. By Industry (USD)
9.4.1. Consumer Goods & Retail
9.4.2. Agriculture & Food
9.4.3. Chemicals
9.4.4. Oil & Gas
9.4.5. Manufacturing
9.4.6. Others
9.5. By Country (USD)
9.5.1. Turkey
9.5.1.1. By Service Type
9.5.2. Israel
9.5.2.1. By Service Type
9.5.3. GCC
9.5.3.1. By Service Type
9.5.4. North Africa
9.5.4.1. By Service Type
9.5.5. South Africa
9.5.5.1. By Service Type
9.5.6. Rest of MEA
10. South America Testing, Inspection, and Certification (TIC) Market Size Estimates and Forecasts, By Segments, 2018-2029
10.1. Key Findings
10.2. By Service Type (USD)
10.2.1. Testing
10.2.2. Inspection
10.2.3. Certification
10.3. By Sourcing Type (USD)
10.3.1. In-House
10.3.2. Outsource
10.4. By Industry (USD)
10.4.1. Consumer Goods & Retail
10.4.2. Agriculture & Food
10.4.3. Chemicals
10.4.4. Oil & Gas
10.4.5. Manufacturing
10.4.6. Others
10.5. By Country (USD)
10.5.1. Brazil
10.5.1.1. By Service Type
10.5.2. Argentina
10.5.2.1. By Service Type
10.5.3. Rest of South America
11. Company Profiles for Top 11 Players (Based on data availability in public domain and/or on paid databases)
11.1. SGS SA
11.1.1. Overview
11.1.2. Offerings/Business Segments
11.1.3. Employee Size
11.1.4. Key Financials
11.1.5. Recent Developments
11.2. Bureau Veritas
11.2.1. Overview
11.2.2. Offerings/Business Segments
11.2.3. Employee Size
11.2.4. Key Financials
11.2.5. Recent Developments
11.3. DEKRA
11.3.1. Overview
11.3.2. Offerings/Business Segments
11.3.3. Employee Size
11.3.4. Key Financials
11.3.5. Recent Developments
11.4. Intertek Group PLC
11.4.1. Overview
11.4.2. Offerings/Business Segments
11.4.3. Employee Size
11.4.4. Key Financials
11.4.5. Recent Developments
11.5. TÜV SÜD AG
11.5.1. Overview
11.5.2. Offerings/Business Segments
11.5.3. Employee Size
11.5.4. Key Financials
11.5.5. Recent Developments
11.6. Applus+
11.6.1. Overview
11.6.2. Offerings/Business Segments
11.6.3. Employee Size
11.6.4. Key Financials
11.6.5. Recent Developments
11.7. ALS Limited
11.7.1. Overview
11.7.2. Offerings/Business Segments
11.7.3. Employee Size
11.7.4. Key Financials
11.7.5. Recent Developments
11.8. Eurofins Scientific SE
11.8.1. Overview
11.8.2. Offerings/Business Segments
11.8.3. Employee Size
11.8.4. Key Financials
11.8.5. Recent Developments
11.9. DNV
11.9.1. Overview
11.9.2. Offerings/Business Segments
11.9.3. Employee Size
11.9.4. Key Financials
11.9.5. Recent Developments
11.10. Socotec Group
11.10.1. Overview
11.10.2. Offerings/Business Segments
11.10.3. Employee Size
11.10.4. Key Financials
11.10.5. Recent Developments

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