Global Testing, Inspection, and Certification (TIC) Market Size, Trends & Growth Opportunity, By service (Inspection, Testing, and Certification), By Application (Cardiology, Laparoscopic, Neurology, Orthopaedic, and Others), By End User (Chemicals, Agriculture and Food, Medical and Life Sciences), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Global Testing, Inspection, and Certification (TIC) Market
Global Testing, Inspection, and Certification (TIC) Market was valued at USD 165 billion in 2021 which is expected to reach USD 278.7 billion by 2027 at a CAGR 9.02 %from 2022 -2027.
The use of testing, inspection, and certification (TIC) stamps on various goods and services is necessary to guarantee their security and calibre and to increase their marketability. These services aid in fostering customer confidence. Future market expansion is anticipated to be fuelled by rapid industrialization and urbanization.
Market Drivers
The main factor that is anticipated to fuel the growth of the global testing, inspection, and certification (TIC) market is the rise in demand for testing services to guarantee the efficient interoperability of connected devices and networks.
Additionally, the continued development of networking and communication technologies will benefit market expansion. The market will grow as TIC services for small and medium-sized businesses become more accessible. Additionally, quick globalization will fuel the expansion of the testing, inspection, and certification (TIC) market.
Market Restraints
The growth of the global testing, inspection, and certification (TIC) market, however, is anticipated to be constrained by the varying standards and regulations in different nations.
Market Segmentation
The Global Testing, Inspection, and Certification (TIC) Market is segmented into service type such as Inspection, Testing, and Certification, by system type such as In-House, and Outsourced. Further, market is segmented into end use industry such as Chemicals, Agriculture and Food, Medical and Life Sciences, Oil & Gas, and Petroleum, Consumer Goods and Retail, and Others.
Regional Analysis
The Global Testing, Inspection, and Certification (TIC) Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The world market was dominated by Asia Pacific. The high revenue share can be attributed to the rapid economic growth of nations like China, India, Japan, and South Korea. As a result, the region's industrial and manufacturing activity has increased, providing the TIC market with growth opportunities.
Additionally, Singapore's rapidly evolving AI technology ecosystem makes it easier to develop software and programmes, which in turn helps the TIC market's testing and inspection services expand.
Market Key Players
Various key players are discussed in this report such as Sgs Group, Bureau Veritas, Intertek, Dekra Se, Eurofins Scientific, Tüv Süd, Dnv Gl, Tüv Rheinland, Applus+, Als Limited, and Tüv Nord Group.
Market Taxonomy
By Service Type
- Inspection
- Testing
- Certification
- In-House
- Outsourced
- Chemicals
- Agriculture and Food
- Medical and Life Sciences
- Oil & Gas and Petroleum
- Consumer Goods and Retail
- Others
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Testing, Inspection, and Certification (TIC) Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Testing, Inspection, and Certification (TIC) Market, By Service Type
- 5.1 Y-o-Y Growth Comparison, By Service Type
- 5.2 Global Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
- 5.3 Global Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Service Type
- 5.3.1 Inspection
- 5.3.2 Testing
- 5.3.3 Certification
- 6 Global Testing, Inspection, and Certification (TIC) Market, By System Type
- 6.1 Y-o-Y Growth Comparison, By System Type
- 6.2 Global Testing, Inspection, and Certification (TIC) Market Share Analysis, By System Type
- 6.3 Global Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
- 6.3.1 In- House
- 6.3.2 Outsourced
- 7 Global Testing, Inspection, and Certification (TIC) Market, By End Use Industry
- 7.1 Y-o-Y Growth Comparison, By End Use Industry
- 7.2 Global Testing, Inspection, and Certification (TIC) Market Share Analysis, By End Use Industry
- 7.3 Global Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
- 7.3.1 Chemical
- 7.3.2 Agriculture & Food
- 7.3.3 Medical & Life Sciences
- 7.3.4 Oil & Gas and Petroleum
- 7.3.5 Consumer Goods and Retail
- 7.3.6 Others
- 8 Global Testing, Inspection, and Certification (TIC) Market, By Region
- 8.1 Global Testing, Inspection, and Certification (TIC) Market Share Analysis, By Region
- 8.2 Global Testing, Inspection, and Certification (TIC) Market Share Analysis, By Region
- 8.3 Global Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Region
- 9 North America Testing, Inspection, and Certification (TIC) Market Analysis and Forecast (2022 – 2027)
- 9.1 Introduction
- 9.2 North America Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
- 9.3 North America Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
- 9.4 North America Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
- 9.5 North America Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Country
- 9.5.1 U.S.
- 9.5.2 Canada
- 9.5.3 Mexico
- 10 Europe Testing, Inspection, and Certification (TIC) Market Analysis and Forecast (2022 – 2027)
- 10.1 Introduction
- 10.2 Europe Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
- 10.3 Europe Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
- 10.4 Europe Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
- 10.5 Europe Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Country
- 10.5.1 Germany
- 10.5.2 France
- 10.5.3 UK
- 10.5.4 Rest of Europe
- 11 Asia Pacific Testing, Inspection, and Certification (TIC) Market Analysis and Forecast (2022 – 2027)
- 11.1 Introduction
- 11.2 Asia Pacific Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
- 11.3 Asia Pacific Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
- 11.4 Asia Pacific Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
- 11.5 Asia Pacific Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Country
- 11.5.1 China
- 11.5.2 Japan
- 11.5.3 India
- 11.5.4 Rest of Asia Pacific
- 12 Latin America Testing, Inspection, and Certification (TIC) Market Analysis and Forecast (2022 – 2027)
- 12.1 Introduction
- 12.2 Latin America Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
- 12.3 Latin America Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
- 12.4 Latin America Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
- 12.5 Latin America Testing, Inspection, and Certification (TIC) Market Size and Forecast, Country
- 12.5.1 Brazil
- 12.5.2 Rest of Latin America
- 13 Middle East Testing, Inspection, and Certification (TIC) Market Analysis and Forecast (2022 – 2027)
- 13.1 Introduction
- 13.2 Middle East Testing, Inspection, and Certification (TIC) Market Share Analysis, By Service Type
- 13.3 Middle East Testing, Inspection, and Certification (TIC) Market Size and Forecast, By System Type
- 13.4 Middle East Testing, Inspection, and Certification (TIC) Market Size and Forecast, By End Use Industry
- 13.5 Middle East Testing, Inspection, and Certification (TIC) Market Size and Forecast, By Country
- 13.5.1 Saudi Arabia
- 13.5.2 UAE
- 13.5.3 Egypt
- 13.5.4 Kuwait
- 13.5.5 South Africa
- 14 Competitive Analysis
- 14.1 Competition Dashboard
- 14.2 Market share Analysis of Top Vendors
- 14.3 Key Development Strategies
- 15 Company Profiles
- 15.1 SGS GROUP
- 15.1.1 Overview
- 15.1.2 Offerings
- 15.1.3 Key Financials
- 15.1.4 Business Segment & Geographic Overview
- 15.1.5 Key Market Developments
- 15.1.6 Key Strategies
- 15.2 Bureau Veritas
- 15.2.1 Overview
- 15.2.2 Offerings
- 15.2.3 Key Financials
- 15.2.4 Business Segment & Geographic Overview
- 15.2.5 Key Market Developments
- 15.2.6 Key Strategies
- 15.3 Intertek
- 15.3.1 Overview
- 15.3.2 Offerings
- 15.3.3 Key Financials
- 15.3.4 Business Segment & Geographic Overview
- 15.3.5 Key Market Developments
- 15.3.6 Key Strategies
- 15.4 Dekra SE
- 15.4.1 Overview
- 15.4.2 Offerings
- 15.4.3 Key Financials
- 15.4.4 Business Segment & Geographic Overview
- 15.4.5 Key Market Developments
- 15.4.6 Key Strategies
- 15.5 Eurofins Scientific
- 15.5.1 Overview
- 15.5.2 Offerings
- 15.5.3 Key Financials
- 15.5.4 Business Segment & Geographic Overview
- 15.5.5 Key Market Developments
- 15.5.6 Key Strategies
- 15.6 TÜV SÜD
- 15.6.1 Overview
- 15.6.2 Offerings
- 15.6.3 Key Financials
- 15.6.4 Business Segment & Geographic Overview
- 15.6.5 Key Market Developments
- 15.6.6 Key Strategies
- 15.7 DNV GL
- 15.7.1 Overview
- 15.7.2 Offerings
- 15.7.3 Key Financials
- 15.7.4 Business Segment & Geographic Overview
- 15.7.5 Key Market Developments
- 15.7.6 Key Strategies
- 15.8 TÜV Rheinland
- 15.8.1 Overview
- 15.8.2 Offerings
- 15.8.3 Key Financials
- 15.8.4 Business Segment & Geographic Overview
- 15.8.5 Key Market Developments
- 15.8.6 Key Strategies
- 15.9 Als Limited
- 15.9.1 Overview
- 15.9.2 Offerings
- 15.9.3 Key Financials
- 15.9.4 Business Segment & Geographic Overview
- 15.9.5 Key Market Developments
- 15.9.6 Key Strategies
- 15.10 Tüv Nord Group
- 15.10.1 Overview
- 15.10.2 Offerings
- 15.10.3 Key Financials
- 15.10.4 Business Segment & Geographic Overview
- 15.10.5 Key Market Developments
- 15.10.6 Key Strategies
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