Global Testing, Inspection and Certification（TIC）Market By Type (Testing, Inspection and Certification), By Application (Commodities, Industry, LFE,, and Others), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019–2028

Market.us announces publication of its most recently generated research report titled, “Global Testing, Inspection and Certification (TIC) Market by Service Type (Testing, Inspection & Certification), By Application (Agriculture & Food, Construction, Life Science, Consumer Product, Transportation, Energy, Other Applications), By Sourcing Type (In-house Sourcing, Outsourcing) and by Region – Global Forecast to 2028.”, which offers a holistic view of the global Testing, Inspection and Certification (TIC) market through systematic segmentation that covers every aspect of the target market.

The global Testing, Inspection, and Certification (TIC) market are projected to be US$ 182.5 Mn in 2018 to reach US$ 298.9 Mn by 2028 at a CAGR of 5.1%.

The TIC sector, i.e., Testing, Inspection, and Certification, consist of conformity assessment bodies that provide several services ranging from inspection and auditing to verification, quality assurance, testing, and even certification. Conformity assessment or compliance testing is important to determine whether a product, service, or process complies with the requirements of a specification, contracts, regulation, or technical standards. The International Organization for Standardization (ISO) and International Electrotechnical Commission (IEC), are international standards-setting bodies and these organization defines different testing, inspection and certification parameters in international standards which any conformity assessment body has to follow strictly.

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As a result of industrialization supply chains are turning more complex every day, along with outsourcing and rising end-user quality expectations, which has driven the demand for independent TIC services. Businesses nowadays are aiming to ensure that not only their products but their infrastructures and processes meet all the required standards and regulations in terms of quality, safety, social responsibility, and environmental protection, to reduce risks of failure disruption and accidents. TIC services are stable and are very much based on standards directives and national legalization owing to which TIC companies play a significant role in aiding governments to fulfill their mandates in order to protect consumers against hazardous products. TIC company ensures that their client's products, systems, and assets meet the requirements of all the quality standards, and the purpose of these services is to increase productivity and help even the local and Small manufacturers to meet global standards.

Global Testing, Inspection and Certification (TIC) Market Revenue (US$ Mn), 2018–2028

Increased regulation and standards are a major growth factor for the target market as there has been a clear shift towards more complex standards and regulation and most of them are even government-driven, to ensure health and safety compliance across a variety of end-use industries which is driving the market growth.

With increased world trade, emerging economies such as China, India, and others emerged as leading trade player, which has driven major market giants towards these economies. Increased exports, particularly from developing economies, have provided various lucrative growth opportunities in these regions

A developed region such as Europe and the USA have stringent rules and regulations regarding consumer products. Also, several international organization and agencies are coming in front regarding the importance of the quality goods which provides several opportunities for the market growth even in developed nations

Global Testing, Inspection, and Certification (TIC) market are segmented on the basis of service type, application, sourcing type, and region. Based on service type, the market is segmented into Testing, Inspection & Certification. The testing segment accounts for the majority share and is expected to register the highest growth over the forecast period. Based on application, the market is segmented into Agriculture & Food, Construction, Life Science, Consumer Product, Transportation, Energy, Other Applications. The energy segment accounts for a majority share in the global Testing, Inspection, and Certification (TIC) market. Based on sourcing type, the market is segmented into In-house Sourcing & Outsourcing. The In-house segment accounts for the majority share in the TIC market.

Global Testing, Inspection and Certification (TIC) Market Attractiveness Index by Service Type, 2018

On the basis of region, the market is segmented into North America, Europe, APAC, South America, and Middle East Africa. Europe accounts for the majority share in the global Testing, Inspection, and Certification (TIC) market, followed by North America.

The research report on the global Testing, Inspection and Certification (TIC) market includes profiles of some of major companies such as Bureau Veritas SA, Intertek Group plc, Eurofins Scientific SE, TÜV Rheinland AG, ALS Limited, Mistras Group, Inc., Nemko AS, TÜV SÜD AG, Stiftelsen Det Norske Veritas, UL LLC, TÜV NORD Group, SGS SA, SAI Global Limited, DEKRA e.V. etc.

Key Market Segments:

Type

• Testing
• Inspection
• Certification

Application

• Consumer Product
• Commodities
• Industry
• LFE

Key Market Players included in the report:

• Bureau Veritas SA
• Intertek Group plc
• Eurofins Scientific SE
• TÜV Rheinland AG
• ALS Limited
• Mistras Group Inc.
• Nemko AS
• TÜV SÜD AG
• Stiftelsen Det Norske Veritas
• UL LLC
• TÜV NORD Group
• SGS SA
• SAI Global Limited
• DEKRA e.V

For the Testing, Inspection and Certification（TIC） Market research study, the following years have been considered to estimate the market size: