Testing Inspection and Certification (TIC) Market Overview
The global Testing Inspection and Certification (TIC) market is expected to rise at a considerable rate in the forthcoming years. It's worth noting that a variety of variables, including technology improvements, increased awareness of health safety measures, and tough environmental regulations, are driving the market to greater valuations and a slew of new growth chances. It's also worth noting that the use of TIC across industrial verticals is a major growth driver for the global Testing, Inspection, and Certification market.
The global testing, inspection, and certification market is expanding as a result of factors such as the growing outsourcing of testing, inspection, and certification services, as well as a wide range of product requirements and regulatory requirements. Quality, health, and environmental regulations have recently become more strict, resulting in increased demand for these services. Apart from that, end-user demand for third-party assurance, as well as increased risk awareness and a focus on risk prevention, are likely to drive up demand for testing, inspection, and certification services around the world. Furthermore, as a result of globalization, increased trade between countries has had a favorable impact on the expansion of this sector. As a result of these favorable aspects, demand for testing, inspection, and certification services is expected to increase over the forecast period.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Service Type, Sourcing Type, Industry, and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Intertek Group PLC, Bureau Veritas SA, SGS Group, ASTM International, ALS Ltd., TUV SUD AG, DNV GL Group AS, AsureQuality Ltd., Underwriters Laboratories Inc, Dekra SE, Lloyd's Register Group Limited, TÜV Rheinland Group. |
Covid-19 Impact on Testing Inspection and Certification (TIC) Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Testing Inspection and Certification (TIC) Market Segment Overview
According to Service Type, Testing & Inspection is one of the most prominent segments in the global testing, inspection, and certification market. Additionally, by Sourcing Type, the In-House Sourcing segment is one of the important segments in the market. Companies with in-house testing services have complete control over the entire process. Companies with primary business competence in such services do this type of testing. A corporation must develop in-house capabilities in terms of technology, testing, and measuring equipment, and qualified staff to undertake in-house TIC tasks. TIC services are provided in-house about 60% of the time. This process is especially visible in areas like life sciences, utilities, and government. Based on the Industry, infrastructure & construction and energy & utilities are the noteworthy segments which are anticipated to boost the growth of the market around the world.
Testing Inspection and Certification (TIC) Market, By Service Type
· Testing & Inspection
· Certification
Testing Inspection and Certification (TIC) Market, By Sourcing Type
· In-House Sourcing
· Outsourcing
Testing Inspection and Certification (TIC) Market, By Industry
· Infrastructure & Construction
· Transformational & Contract Manufacturing
· Food & Beverages
· Agriculture & Forest
· Information Technologies
· Chemical
· Healthcare & Pharmaceutical
· Transportation & Logistics
· Travel & Tourism
· Energy & Utilities
· Water & Wastewater Management
· Government
· Education
· Textile
· Cosmetics
· Others
Testing Inspection and Certification (TIC) Regional Overview
Region-wise, Europe is the most prominent region for the market. The testing, inspection, and certification market in Europe is well developed as a result of stringent regulations in a variety of industries, including food and beverage, oil and gas, infrastructure and construction, cosmetics, water and wastewater management, automotive, and textiles, to name a few. The advantages of testing, inspection, and certification services are well known among European customers. Furthermore, the market in the Asia Pacific is expected to rise at a significant rate in the coming years. Huge dependence of many European and American countries on APAC-based companies for medical devices, personal protection equipment (PPE) kits, pharmaceuticals, and other necessary equipment, increased research and development in the field of autonomous and connected cars and better lifestyles are the key factors boosting the growth of the market in the Asia Pacific region.
Testing Inspection and Certification (TIC) Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Testing Inspection and Certification (TIC) Market, Key Players
· Intertek Group PLC
· Bureau Veritas SA
· SGS Group
· ASTM International
· ALS Ltd.
· TUV SUD AG
· DNV GL Group AS
· AsureQuality Ltd.
· Underwriters Laboratories Inc
· Dekra SE
· Lloyd's Register Group Limited
· TÜV Rheinland Group.
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the Testing Inspection and Certification (TIC) market?
Technology improvements, increased awareness of health safety measures, and tough environmental regulations, are driving the market to greater valuations and a slew of new growth chances.
Q2. Which Segments are covered in the Testing Inspection and Certification (TIC) Market report?
Service Type, Sourcing Type, Industry, and Region these segments are covered in the Testing Inspection and Certification (TIC) market report
Q3. Which segment is projected to hold the largest share in the Testing Inspection and Certification (TIC) Market.?
The testing & Inspection segment is projected to hold the largest share in the Testing Inspection and Certification (TIC) Market.
Q4. Which region holds the largest share in the Testing Inspection and Certification (TIC) market?
Europe held the largest share in the global Testing Inspection and Certification (TIC) market.
Q5. Which are the prominent players in the Testing Inspection and Certification (TIC) Market?
Intertek Group PLC, Bureau Veritas SA, SGS Group, ASTM International, ALS Ltd., TUV SUD AG, DNV GL Group AS, AsureQuality Ltd., Underwriters Laboratories Inc, Dekra SE, Lloyd's Register Group Limited, TÜV Rheinland Group. are some key players in the Testing Inspection and Certification (TIC) Market.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Testing Inspection and Certification (TIC) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Service Type
- 5.2.1. Testing & Inspection
- 5.2.2. Certification
- 5.3. Market Analysis, Insights and Forecast – By Sourcing Type
- 5.3.1. In-House Sourcing
- 5.3.2. Outsourcing
- 5.4. Market Analysis, Insights and Forecast – By Industry
- 5.4.1. Infrastructure & Construction
- 5.4.2. Transformational & Contract Manufacturing
- 5.4.3. Food & Beverages
- 5.4.4. Agriculture & Forest
- 5.4.5. Information Technologies
- 5.4.6. Chemical
- 5.4.7. Healthcare & Pharmaceutical
- 5.4.8. Transportation & Logistics
- 5.4.9. Travel & Tourism
- 5.4.10. Energy & Utilities
- 5.4.11. Water & Wastewater Management
- 5.4.12. Government
- 5.4.13. Education
- 5.4.14. Textile
- 5.4.15. Cosmetics
- 5.4.16. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Testing Inspection and Certification (TIC) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Service Type
- 6.2.1. Testing & Inspection
- 6.2.2. Certification
- 6.3. Market Analysis, Insights and Forecast – By Sourcing Type
- 6.3.1. In-House Sourcing
- 6.3.2. Outsourcing
- 6.4. Market Analysis, Insights and Forecast – By Industry
- 6.4.1. Infrastructure & Construction
- 6.4.2. Transformational & Contract Manufacturing
- 6.4.3. Food & Beverages
- 6.4.4. Agriculture & Forest
- 6.4.5. Information Technologies
- 6.4.6. Chemical
- 6.4.7. Healthcare & Pharmaceutical
- 6.4.8. Transportation & Logistics
- 6.4.9. Travel & Tourism
- 6.4.10. Energy & Utilities
- 6.4.11. Water & Wastewater Management
- 6.4.12. Government
- 6.4.13. Education
- 6.4.14. Textile
- 6.4.15. Cosmetics
- 6.4.16. Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Testing Inspection and Certification (TIC) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Service Type
- 7.2.1. Testing & Inspection
- 7.2.2. Certification
- 7.3. Market Analysis, Insights and Forecast – By Sourcing Type
- 7.3.1. In-House Sourcing
- 7.3.2. Outsourcing
- 7.4. Market Analysis, Insights and Forecast – By Industry
- 7.4.1. Infrastructure & Construction
- 7.4.2. Transformational & Contract Manufacturing
- 7.4.3. Food & Beverages
- 7.4.4. Agriculture & Forest
- 7.4.5. Information Technologies
- 7.4.6. Chemical
- 7.4.7. Healthcare & Pharmaceutical
- 7.4.8. Transportation & Logistics
- 7.4.9. Travel & Tourism
- 7.4.10. Energy & Utilities
- 7.4.11. Water & Wastewater Management
- 7.4.12. Government
- 7.4.13. Education
- 7.4.14. Textile
- 7.4.15. Cosmetics
- 7.4.16. Others
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Testing Inspection and Certification (TIC) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Service Type
- 8.2.1. Testing & Inspection
- 8.2.2. Certification
- 8.3. Market Analysis, Insights and Forecast – By Sourcing Type
- 8.3.1. In-House Sourcing
- 8.3.2. Outsourcing
- 8.4. Market Analysis, Insights and Forecast – By Industry
- 8.4.1. Infrastructure & Construction
- 8.4.2. Transformational & Contract Manufacturing
- 8.4.3. Food & Beverages
- 8.4.4. Agriculture & Forest
- 8.4.5. Information Technologies
- 8.4.6. Chemical
- 8.4.7. Healthcare & Pharmaceutical
- 8.4.8. Transportation & Logistics
- 8.4.9. Travel & Tourism
- 8.4.10. Energy & Utilities
- 8.4.11. Water & Wastewater Management
- 8.4.12. Government
- 8.4.13. Education
- 8.4.14. Textile
- 8.4.15. Cosmetics
- 8.4.16. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Testing Inspection and Certification (TIC) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Service Type
- 9.2.1. Testing & Inspection
- 9.2.2. Certification
- 9.3. Market Analysis, Insights and Forecast – By Sourcing Type
- 9.3.1. In-House Sourcing
- 9.3.2. Outsourcing
- 9.4. Market Analysis, Insights and Forecast – By Industry
- 9.4.1. Infrastructure & Construction
- 9.4.2. Transformational & Contract Manufacturing
- 9.4.3. Food & Beverages
- 9.4.4. Agriculture & Forest
- 9.4.5. Information Technologies
- 9.4.6. Chemical
- 9.4.7. Healthcare & Pharmaceutical
- 9.4.8. Transportation & Logistics
- 9.4.9. Travel & Tourism
- 9.4.10. Energy & Utilities
- 9.4.11. Water & Wastewater Management
- 9.4.12. Government
- 9.4.13. Education
- 9.4.14. Textile
- 9.4.15. Cosmetics
- 9.4.16. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Intertek Group PLC
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Bureau Veritas SA
- 10.6. SGS Group
- 10.7. ASTM International
- 10.8. ALS Ltd.
- 10.9. TUV SUD AG
- 10.10. DNV GL Group AS
- 10.11. AsureQuality Ltd.
- 10.12. Underwriters Laboratories Inc
- 10.13. Dekra SE
- 10.14. Lloyd's Register Group Limited
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
