-- The testing, inspection, and certification is rendering services to the companies employed across various industrial verticals to enhance the activities such as productivity, the efficient production process for manufacturers to achieve the globally acknowledged standards and policies implemented by the government to stimulate the quality of the product. These services can be implemented for any product and service. The factors impelling the testing, inspection, and certification market growth are the rising illegal trade activities such as forged products and infringe the copyright of the products and the growing tendency of outsourcing the testing, inspection, and certification services. Anyhow, the different rules, regulations, and policies amidst many different countries are impeding market growth. The market for testing, inspection, and certification is projected to grow at a CAGR of 4% with a value expecting to reach $252.60 billion by 2026.
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Research Methodology:
The testing, inspection, and certification market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology, along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
The scope of testing, inspection, and certification market can be defined by the following segmentation.
Sourcing Type: Market Size & Analysis
In-house services
Outsourced services
Service Type: Market Size & Analysis
Testing
Inspection
Certification
Others
Application: Market Size & Analysis
Consumer Goods and Retail
Agriculture and Food
Chemicals
Construction and Infrastructure
Energy and Power
Industrial manufacturing
Medical and Life Sciences
Mining
Oil & Gas and Petroleum
Public Sector
Automotive
Aerospace
Marine
Railways
Supply Chain and Logistics
IT and Telecommunications
Sports & Entertainment
Geography: Market Size & Analysis
North America
Europe
Asia Pacific
Rest of the World
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Based on the sourcing type, the market would be segmented into in-house services and outsourced services. Usually, the companies opt for the in-house services creating a high demand for this segment. The in-house services come up with the company’s overall control in the complete process, and manufacturers can instantaneously manage the testing, inspection, and certification process without approaching other services providers in case of in-house services.
In terms of service type, the certificate services are happening to surge the market growth due to the assured product or service safety and operation aspects, soaring demand for attaining mandatory certificates, and also emerging discretionary certificates for products include pollution-free products. The key objective of this service is to improve the overall performance of the business.
As observed in the market based on application, the agriculture and food application projected to depict the high growth in the market share. The agriculture & food sector based on the safety and validity of the products is very significant. The testing, inspection, and certification plays a prominent role in the agriculture and food sector and also in the trading agricultural and food products by obtaining an international certificate.
In the regional market, the Asia Pacific region is anticipated to represent the highest growth share in the market. Due to the high population density with improved purchasing quality products, growing preference for consumer electronics, rising consciousness regarding quality, and surging imports and exports to boost the market growth in the Asia Pacific.
Expeditious globalization is accelerating the market growth owing to the growth in the number of global trade agreements among countries. Globalization has enhanced the trade among developing countries leading to the growth of testing, inspection, and certification services for manufacturers since the imports from developing countries need to clear restricted tests to respect international standards. Additionally, the surging product diversifications in various nations are driving market growth.
The companies which are anticipated to lead the testing, inspection, and certification market include-ASTM International, TUV SUD AG, AsureQuality Ltd, Dekra SE, TÜV Rheinland Group, Intertek Group Plc, SGS Group, Bureau Veritas SA, ALS Ltd, DNV GL Group AS, Underwriters Laboratories Inc, Lloyd’s Register Group Limited, APPLUS+, TUV Nord group.
Overall, the testing, inspection, and certification market are significantly dependent on the quality of the product or service which is provided by the firms. This is the major attribute in this market. The market report gives other key trends in the market.
Table of Contents
1. Executive Summary
2. Industry Outlook
2.1. Industry Overview
2.2. Industry Trends
3. Market Snapshot
4. Market characteristics
5. Sourcing Type: Market Size & Analysis
6. Service Type: Market Size & Analysis
7. Application: Market Size & Analysis
8. Geography: Market Size & Analysis
9. Competitive Landscape
10. Vendor Profiles
11. Companies to Watch
12. Analyst Opinion
13. Annexure
13.1. Report Scope
13.2. Market Definitions
13.3. Research Methodology
13.3.1. Data Collation and In-house Estimation
13.3.2. Market Triangulation
13.3.3. Forecasting
13.4. Report Assumptions
13.5. Declarations
13.6. Stakeholders
13.7. Abbreviations
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