Testing, Inspection and Certification Market Size Report, Trends and Analysis-2027
[Research Report] The Testing, Inspection and Certification market is estimated to grow from US$ 252.30 billion in 2019 to US$ 379.89 billion by 2027; it is projected to grow at a CAGR of 5.2% from 2019 to 2027.
Analyst Perspective:
The Testing, Inspection and Certification market has grown significantly. Factors including the increasing demand from businesses and organizations to ensure secure and effective Testing, Inspection and Certification processes drive the growth of the Testing, Inspection and Certification market
Market Overview:
Testing, Inspection and Certification (TIC) services encompass various offerings, including auditing, inspection, testing, verification, quality assurance, and certification for different products and equipment. These services enhance production efficiency and mitigate risks by minimizing errors. TIC services find applications across multiple sectors, such as oil and gas, food, pharmaceuticals, and chemical industries. Testing is a systematic approach to evaluating a product or service against established standards. It involves a series of inspections to determine if the item meets the required criteria. These inspections cover various aspects such as performance, reliability, durability, and safety. Inspection, on the other hand, is the careful examination of goods, processes, or services to ensure compliance with rules and guidelines. This stage ensures that the product or service meets the set quality standards. Inspections can occur at various stages of the production process, from raw materials to the final product. Independent third-party organizations often conduct certification procedures. Customers and stakeholders trust certified products or services due to their reliability, safety, and quality. Certifications cover various topics, including product performance requirements, worker health and safety, and environmental sustainability.
The rising demand from businesses for reliable and efficient Testing, Inspection and Certification (TIC) practices drives the growth of the Testing, Inspection and Certification market. Implementing secure and effective testing and inspection procedures allows companies to uphold the highest quality standards, ensuring enhanced productivity and efficiency. Leveraging TIC practices, businesses can tailor their supply chain operations to meet their specific requirements, streamlining their overall business processes.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Testing, Inspection and Certification Market: Strategic Insights
Testing, Inspection and Certification Market
-
CAGR (2019 - 2027)
5.2%
-
Market Size 2019
US$ 252.3 Billion
-
Market Size 2027
US$ 379.89 Billion
Market Dynamics
GROWTH DRIVERS
- XXXXXXX
- XXXXXXX
- XXXXXXX
FUTURE TRENDS
- XXXXXXX
- XXXXXXX
- XXXXXXX
OPPORTUNITIES
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Eurofins Scientific
- Applus Services
- ALS Limited
- DEKRA Automobil GmbH
- TUV SUD AG
- TUV Rheinland AG
- SGS SA
- Bureau Veritas SA
- Intertek Group plc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Service Type
- Testing
- Inspection
- Certification
Sourcing Type
- In-House and Outsourced
Industry
- Consumer Goods
- Agriculture
- Pharmaceuticals
- Chemical
- Oil and Gas
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Testing, Inspection and Certification Market: Strategic Insights
-
CAGR (2019 - 2027)5.2% -
Market Size 2019
US$ 252.3 Billion -
Market Size 2027
US$ 379.89 Billion
Market Dynamics
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Eurofins Scientific
- Applus Services
- ALS Limited
- DEKRA Automobil GmbH
- TUV SUD AG
- TUV Rheinland AG
- SGS SA
- Bureau Veritas SA
- Intertek Group plc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Testing
- Inspection
- Certification
- In-House and Outsourced
- Consumer Goods
- Agriculture
- Pharmaceuticals
- Chemical
- Oil and Gas
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Driver:
Increasing Urbanization and Construction Industry to Drive Growth of The Testing, Inspection and Certification Market
The increasing urbanization and construction industry are significant factors driving the growth of Testing, Inspection and Certification. As urban populations grow, there is a higher demand for new construction projects, including housing, commercial buildings, and infrastructure. This demand leads to increased construction activities, which drives the need for Testing, Inspection and Certification services to ensure compliance with quality and safety standards.
Moreover, the construction industry is crucial in aiding rapid urbanization by providing the necessary infrastructure. Expanding urban and suburban areas requires more homes and structures, fueling the demand for construction services. As a result, businesses in the construction industry need to engage in TIC practices to ensure the quality, safety, and compliance of their projects.
Segmentation and Scope:
The "Testing, Inspection and Certification Market" is segmented based on service type, sourcing type, industry, and geography. Based on the service type, the Testing, Inspection and Certification market is segmented by Testing, Inspection and Certification. The Testing, Inspection and Certification market is segmented into in-house and outsourced based on the sourcing type. Based on industry, the Testing, Inspection and Certification market is segmented into consumer goods, agriculture, pharmaceuticals, chemicals, oil and gas, and others. The Testing, Inspection and Certification market is segmented based on geography into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Segmental Analysis:
The Testing, Inspection and Certification market is segmented into in-house and outsourced based on sourcing type. The in-house segment holds a significant market share in the Testing, Inspection and Certification market. Implementing in-house testing and inspection methods allows companies to effectively carry out practical TIC (Testing, Inspection and Certification) activities. This is made possible by having on-site resources and the ability to recruit skilled personnel and establish customized practices tailored to the company's specific needs and preferences. Additionally, deploying in-house TIC teams provides enhanced control and a more comprehensive understanding of business operations, offering organizational advantages. Conducting testing and inspection in-house allows companies to have greater control over the process and ensures that it aligns with their specific requirements and standards. The availability of advanced testing and inspection technologies has made it more feasible for companies to conduct these activities in-house, leading to increased adoption.
Regional Analysis:
The European region in the Testing, Inspection and Certification market is poised to experience significant growth in the foreseeable future. This growth is attributed to the robust automotive industries in Germany and France, which necessitate efficient testing and inspection systems within their respective companies. Moreover, numerous fashion brands, consumer goods manufacturers, and retail corporations in countries like Italy and the U.K. further contribute to the expansion and development of the region's Testing, Inspection and Certification market.
In July 2022, UL LLC, a global leader in safety certification services, announced its acquisition of Method Park. Method Park, a German company specializing in software solutions, process engineering, training, and advisory services for automotive, aerospace, and medical industries, has now become part of UL LLC. This strategic acquisition strengthens UL LLC's capabilities in assisting customers in driving innovation, implementing adequate safety measures, and ensuring compliance with regulatory standards, thereby supporting their business transformation endeavors.
Key Player Analysis:
The Testing, Inspection and Certification market analysis consists of players such as SGS S.A., Bureau Veritas, Intertek Group plc, Eurofins Scientific, DEKRA SE, TÜV SÜD, DNV GL, TÜV RHEINLAND, Applus+, and ALS, are among the vital Testing, Inspection and Certification market players profiled in the report.
Testing, Inspection and Certification Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2019 | US$ 252.3 Billion |
Market Size by 2027 | US$ 379.89 Billion |
Global CAGR (2019 - 2027) | 5.2% |
Historical Data | 2017-2018 |
Forecast period | 2020-2027 |
Segments Covered |
By Service Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions, new product launches, expansion, and diversification are highly adopted by companies in the Testing, Inspection and Certification market. A few recent key developments in the Testing, Inspection and Certification market are listed below:
- In August 2023, SGS announced the expansion of its Textile Exchange product certification services into the Indian market. This expansion aims to provide comprehensive certification solutions for manufacturers, retailers, and buyers in the textile and footwear industry. The expanded services now include certifications for recycled content (RCS) and organic content (OCS), as well as responsible sourcing of down (RDS) and animal fibers (RAF). With strategically positioned laboratories throughout India, SGS is now well-equipped to assist organizations in effectively meeting their sustainable sourcing objectives.
- In April 2023, Intertek acquired Controle Analítico, a prominent Brazilian environmental testing company with expertise in water analysis. This strategic acquisition allows Intertek to enhance its environmental testing capabilities in Brazil, complementing its current food and agri-business services portfolio. The integration of Controle Analítico aligns with Intertek's unwavering dedication to delivering exceptional quality, safety, and sustainability solutions to its clients.
- In December 2023, ALS completed the acquisition of the ExplorTech Division of Earthlabs Inc., previously known as GoldSpot Discoveries Corp. This strategic acquisition bolsters ALS's presence in the environmental testing and consulting sector. The addition of ExplorTech's specialized knowledge in geochemistry, metallurgy, and ecological analysis aligns seamlessly with ALS's existing capabilities. Integrating these resources is anticipated to strengthen ALS's capacity to deliver comprehensive services to clients in various industries, including mining, energy, and environmental management. This acquisition further solidifies ALS's commitment to providing exceptional solutions and expertise to meet the evolving needs of its clientele.
- In February 2022, Applus+, a multinational firm specializing in Testing, Inspection and Certification, revealed its acquisition of Lightship Security, Inc., a renowned provider of product certification services in North America. This strategic move aligns with Applus+ Laboratories' mission to enhance its expertise in crucial technologies and capabilities. By integrating Lightship Security, Applus+ aims to support clients in better navigating the global technological transformation driven by energy transition, electrification, and connectivity. This acquisition strengthens Applus+'s position as a leading player in the industry and enables them to provide comprehensive solutions to meet the evolving needs of their clients.
- In August 2023, ALS Limited, one of the global leaders in Testing, Inspection and Certification, announced the acquisition of the Proanaliz Group of Laboratories, a food testing group based in Antalye, Türkiye. The group’s strong technical team and excellent reputation help make it the country’s market leader in pesticide testing. With satellite labs strategically located in the municipalities of Kumluca, Alasehir, Demre, and Fethiye, the group’s proximity to Turkish agricultural producers has enabled it to provide clients with exceptional turnaround times of hours rather than days.
- In June 2023, Applus+, a global leader in the Testing, Inspection and Certification (TIC) sector, announced the acquisition of the entire share capital of Rescoll, a leading material testing and R&D technological partner based in France.
- In May 2022, Bureau Veritas, a world leader in Testing, Inspection and Certification (TIC) services, announced the opening of its third U.S. microbiology laboratory in Reno, Nevada. The new laboratory offers rapid pathogen testing as well as microbiology indicator analyses to ensure the safety of food and agriculture commodities.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Service Type, Sourcing Type, and Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies - Testing Inspection and Certification Market
- Eurofins Scientific
- Applus Services
- ALS Limited
- DEKRA Automobil GmbH
- TUV SUD AG
- TUV Rheinland AG
- SGS SA
- Bureau Veritas SA
- Intertek Group plc
- DNV GL AS