As per the report published by Sheer Analytics & Insights Pvt. Ltd. on Global Testing, Inspection, and Certification (TIC) Market, titled, Global TIC Market (By Type- In-House, Outsourcing. By End-Users- Textile, Oil & Gas, Automotive, Aerospace, Food And Beverages, And Petroleum) – Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2017 – 2026, the market revenue is estimated to reach US$ 270.78 billion in 2026 from US$ 160.42 billion in 2017. The Global TIC Market trends forecast’s high growth is at a CAGR of 6.1% from 2018 to 2026. The application segment will create profitable prospects for the key market players.
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The companies which are operating through different verticals the testing, inspection, certification (TIC) market provides service to them so that they can make improvement in the efficiency, productivity of the manufacturers, and manufacturing processes. This steps are taken so that it becomes possible to meet the standards and quality along with the policies and regulations which is globally recognized and is set by the government for improving the quality of products.
TIC is increasingly adopted by oil & gas, textile & aerospace, and food & beverages, and this has automatically augmented the market growth globally. Furthermore, the market is becoming more demanding owing to the rise of the customers and the new flourishing industrial segments. The emerging economies are also expected to experience huge growth because of the global TIC market. Now, the product manufacturers are forced to accept the certifications of any international deal owing to the safety regulations which are implemented by the government. The wide range of sectors that is fuelling the global TIC market are food & beverages, aerospace, textile, and oil & gas. Moreover, another factor which is impelling the global market for inspection, testing, and certification is the increase of import and export in the global market. The major factor that is augmenting the growth of TIC market in the emerging countries in the estimated period of 2017-2026 are piracy activities, rising consumption of goods, and strict government policies.
A major impact has been made by the global TIC market in the European regions. Continually new rules are being introduced such as increasing focus on outsourcing and efficiency in construction makes Europe the largest shareholder in the testing, inspection and certification market. The market of Asia-Pacific is also expected to witness huge growth in the forecasted period owing to their increasing consumer awareness regarding quality, hence this is allowing the market to grow rapidly.
Recently the market research report on the Global TIC market that was published by Sheer Analytics & Insights the TIC is segmented by testing, inspection, and certification and within it the market is bifurcated in type, solutions, and end use. Among them, the segment of testing services is forecasted to be the rapidly growing segment in the market. The growing number of faulty parts and their components is also increasing the demand of the market. Moreover, the luxury goods manufacturers and the industry of electronics have increased the standard quality of goods which have created huge growth opportunity in the market. However, newcomers in this market such as instrumentation players, engineers or platform providers are also creating an opportunity for the testing activities, which in turn is creating an evolution in the market of testing, inspection, and certification.
The Global TIC market is also segmented in the regions of North America, Europe, Asia-Pacific, Middle East and Africa and Latin America. The major companies of the global TIC market are Dekra Certification GmbH, ASTM International, SGS Group, Eurofins International, and so on.
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The global testing, inspection and certification (TIC)market has been segmented into:
Global Testing, Inspection and Certification (TIC) Market: By Type
- In-House
- Outsourcing
Global Testing, Inspection and Certification (TIC) Market: By End-Users
- Textile
- Oil & Gas
- Automotive
- Aerospace
- Food & Beverage
- Petroleum
Global Testing, Inspection and Certification (TIC) Market: By Geography
- North America
- USA
- Canada
- Mexico
- Europe
- U.K
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Rest of Latin America
Table of Content:
1. Research Methodology, Assumptions and Acronyms
2. Executive Summary – Global Testing, Inspection and Certification Market
3. Global Testing, Inspection and Certification Market Overview
3.1. Introduction
3.1.1. Global Testing, Inspection and Certification Market Revenue Forecast and Potential Addressable Market
3.1.2. Global Testing, Inspection and Certification Market Snapshot
4. Global Testing, Inspection and Certification Market Overview-By Type
4.1. Introduction
4.1.1. Global Testing, Inspection and Certification Market Revenue Forecast and Potential Addressable Market-By Type
4.1.1.1. In-House
4.1.1.2. Outsourcing
5. Global Testing, Inspection and Certification Market Analysis and Forecast, by End-User
5.1. Introduction
5.1.1. Global Testing, Inspection and Certification Market Revenue Forecast and Potential Addressable Market-By End-User
5.1.1.1. Textile
5.1.1.2. Oil & Gas
5.1.1.3. Automotive
5.1.1.4. Aerospace
5.1.1.5. Food & Beverage
5.1.1.6. Petroleum
6. Global Testing, Inspection and Certification Market Revenue Forecast and Potential Addressable Market-By Region
6.1. Introduction
6.2. Key Takeaways
7. North America Testing, Inspection and Certification Market Revenue Forecast and Potential Addressable Market
7.1. Market Dynamics
7.1.1. Drivers
7.1.2. Restraint
7.1.3. Opportunities
7.2. North America Testing, Inspection and Certification Market Analysis – By Type
7.3. North America Testing, Inspection and Certification Market Analysis – By End-User
7.4. U.S.
7.5. Canada
7.6. Mexico
8. Europe Testing, Inspection and Certification Market Revenue Forecast and Potential Addressable Market
8.1. Market Dynamics
8.1.1. Drivers
8.1.2. Restraint
8.1.3. Opportunities
8.2. Europe Testing, Inspection and Certification Market Analysis-By Type
8.3. Europe Testing, Inspection and Certification Market Analysis-By End-User
8.4. U.K.
8.5. France
8.6. Germany
8.7. Spain
8.8. Italy
8.9. Rest of Europe
9. Asia Pacific Testing, Inspection and Certification Market Revenue Forecast and Potential Addressable Market
9.1. Market Dynamics
9.1.1. Drivers
9.1.2. Restraint
9.1.3. Opportunities
9.2. Asia Pacific Testing, Inspection and Certification Market Analysis-By Type
9.3. Asia Pacific Testing, Inspection and Certification Market Analysis-By End-User
9.4. India
9.5. China
9.6. Japan
9.7. Australia
9.8. Rest of Asia Pacific
10. Middle East & Africa (MEA) Testing, Inspection and Certification Market Revenue Forecast and Potential Addressable Market
10.1. Market Dynamics
10.1.1. Drivers
10.1.2. Restraint
10.1.3. Opportunities
10.2. MEA Testing, Inspection and Certification Market Analysis-By Type
10.3. MEA Testing, Inspection and Certification Market Analysis-By End-User
10.4. GCC
10.5. South Africa
10.6. Rest of MEA
11. Latin America Testing, Inspection and Certification Market Revenue Forecast and Potential Addressable Market
11.1. Market Dynamics
11.1.1. Drivers
11.1.2. Restraint
11.1.3. Opportunities
11.2. Latin America Testing, Inspection and Certification Market Analysis-By Type
11.3. Latin America Testing, Inspection and Certification Market Analysis-By End-User
11.4. Brazil
11.5 Rest of Latin America
12. Competitive Landscape
12.1. Global Testing, Inspection and Certification Market-Company Market Share Analysis
13. Company Profiles: (Revenue, Products/Brand Offerings, Company Highlights)
13.1. Bureau Veritas S.A.
13.2. Intertek Group PLC
13.3. ASTM International
13.4. SGS Group
13.5. ALS Limited
13.6. Asurequality Limited
13.7. Dekra SE
13.8. Underwriters Laboratories Inc.
13.9. Lloyd’s Register Group Limited
13.10. DNV GL Group AS
13.11. TUV SUD AG
13.12. TUV Rheinland Group
13.13. Element Materials Technology
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