Testing, Inspection, and Certification (TIC) Market Observing a CAGR of 5.0% during 2020–2025

The global testing, inspection, and certification (TIC) market is expected to grow at a CAGR of 5.0% during the forecast period with its market size were valued at USD 210.0 billion in 2019. With the growing trend of TIC outsourcing, there is a significant rise in the number of small and mid-scale tic companies globally, especially in the APAC region. These companies are expected to bring numerous new opportunities for the TIC ecosystem.

Retail & consumer goods application segment accounted for a foremost share of TIC market in 2019

On the basis of application, the market is subdivided as automotive, aerospace, IT & telecom, transportation & logistics, sports & entertainment, agriculture & food, chemicals, construction, retail & consumer goods, government & public sector, energy & power, industrial, pharmaceuticals, metal & mining, and others. Of all these applications, the retail & consumer goods application segment accounted for a foremost share of the TIC market, owing to a wide range of consumer goods manufactured every year in different regions and significant demand for quality and standard testing and inspection of the products on regular basis.

Geography Insight

Geographically, APAC is the largest and fastest-growing testing, inspection & certification market with the largest number of small and large product manufacturers residing in the region. Further, the administration of several countries in the region is inspiring companies across the globe to make an investment in the region. This will further upsurge the growth of the China Testing, Inspection & Certification (TIC) market in years to come.

Competitive Insight

Some of the key players operating in the global testing, inspection, and certification market are ALS Limited, Applus Plus, Bureau Veritas SA, DNV GL, Element Materials Technology, Eurofins Scientific, Intertek, Lloyd’s Register Group Limited, MISTRAS, SGS Group, TUV NORD Group, TUV SUD Group, TUV Rheinland Group, and UL LLC.

Key Takeaway from the Report:

• Among all the services, the certification segment captures the largest market share in 2019 and is expected to grow at the fastest rate during the forecast period.
• Of all the source type, in-house accounted for the foremost share in the testing, inspection & certification market in 2019.
• Among all the applications, the retail & consumer goods application segment accounted for a foremost share of the TIC market in 2019.

The Report Offers:

• Historical market estimate for the years 2015–2019 and forecast for the years 2020–2025
• Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
• Market insights by in-depth segmentation with industry dynamics.
• Competitive analysis and benchmarking of the industry leaders and their product offerings
• Profiles of leading players and innovators, their financial overview and product portfolio
• Analysis of key industry trends and recent developments
• Value chain analysis and distribution channel analysis with opportunity assessment
• Market share analysis of major players

  Benefits of Report Purchase from VynZ:

  Detailed Research

  We provide accurate data and in-depth analysis with all-inclusive coverage.

  Robust Research Methodology

  Robust research methodology and data triangulation to ensure high quality report.

  Analyst Support

  24*7 analyst support – Pre and post purchase of the report as well as during the project tenure.

  Sales Support

  24*7 sales support – Hassle free delivery of the report and quick response and support by sales team.

  Free Customization

  20% post purchase free customization to meet your Services.

  Customer Satisfaction

  We claim full customer satisfaction as our core values lie in building long term relationship.

  Security

  High level of data security and confidentiality of your information.

  The report provides the market value for the base year 2019 and a yearly forecast till 2025 in terms of revenue (USD Million). The report segments the global testing, inspection and certification market on the basis of service, source type, application, and region.

  Global Testing, Inspection and Certification Market Coverage

  Service Insight and Forecast 2015 – 2025

  • Testing
  • Inspection
  • Certification

  Source Type Insight and Forecast 2015 – 2025

  • In-House
  • Outsourced

  Application Insight and Forecast 2015 – 2025

  • Automotive
  • Aerospace
  • IT & Telecom
  • Transportation & Logistics
  • Sports & Entertainment
  • Agriculture & Food
  • Chemicals
  • Construction
  • Retail & Consumer Goods
  • Government & Public Sector
  • Energy & Power
  • Industrial
  • Pharmaceuticals
  • Metal & Mining
  • Others

  Geographical Segmentation

  Testing, Inspection and Certification Market by Region

  North America

  • By Service
  • By Source Type
  • By Application
  • By Country – U.S., Canada, and Mexico

  Europe

  • By Service
  • By Source Type
  • By Application
  • By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

  Asia-Pacific (APAC)

  • By Service
  • By Source Type
  • By Application
  • By Country – China, Japan, India, South Korea, Singapore, and Rest of Asia-Pacific

  Rest of the World (RoW)

  • By Service
  • By Source Type
  • By Application
  • By Country – Brazil, South Africa, Saudi Arabia, and Other Countries

I'm working as digital marketing manager