Testing inspection And Certification Market Analysis-converted

1. Testing, inspection and certification (TIC) are the services ranging from auditing and inspection, to testing, verification, quality assurance and certification of the product, equipment and more. These help in increasing efficiency of product and services, and minimizing risk. Testing, inspection and certification services are applicable in oil & gas, automotive, consumer electronics, and more sectors, thus growing the demand for testing, inspection and certification (TIC) industry globally. The Testing, Inspection, and Certification Market is expected to reach $143.3 billion, at a CAGR of 5.4% during the forecast period 2020-2027. The rise in the illicit trade of forged and pirated goods, strict regulatory standards imposed by governments and local observatory bodies, and consistent incorporation of advanced technologies to develop various testing and inspection techniques are the key factors driving the growth of the testing, inspection, and certification market. Besides, the organizations’ growing inclination toward outsourcing TIC services, rising awareness among consumers regarding product quality and safety, and the surge in demand for TIC services globally also contribute to the growth of the testing, inspection, and certification market. However, reliability concerns regarding new service providers and an uncertain regulatory environment are expected to hinder the growth of the TIC market. ?????????????????????, ????????????????????? The Impact of COVID-19 on the Testing, Inspection, and Certification Market The COVID-19 outbreak has significantly impacted the global economy. Various industry verticals have also been affected severely. Organizations are using remote technological channels and digital testing to ensure the continuity of their services and provide safety to industrial facilities and hospitals, and power grids that are conducting tests required for ensuring the quality of essential products and functioning of critical equipment. This trend has certainly encouraged automation and the adoption of advanced technologies for industry-specific applications, including collaborations and other productivity and business continuity tools. The outbreak has posed serious challenges to the global economy and affected multiple industries, including manufacturing, oil & gas, construction, automotive, and transportation. Most organizations operating in the TIC market are reinforcing their IT infrastructure and developing business continuity plans for all their operations. TIC providers are focused on novel services and delivery models to smartly access latent demand for increased automation, remotely-performed services, and enhanced digitization. Thus, the testing, inspection, and certification market holds considerable potential to bounce back from the decline witnessed during the COVID-19 crisis. These positive trends are consequently expected to boost the growth of the testing, inspection, and certification market in the coming years. The lockdowns imposed to contain the pandemic have resulted in severe losses to businesses. Several leading TIC players are also eying this crisis as a new opportunity to restructure and revisit

2. their existing strategies and enhance their product portfolios. For instance, in 2020, Bureau Veritas launched specialized digital tools for various sectors to support remote operations for ensuring business continuity. Similarly, in 2020, the British Standards Institution (BSI) Group launched PAS 1881 Assuring Safety of Automated Vehicle Trials and Testing. TO capitalize on this situation, companies are upgrading their capabilities, which is expected to help the TIC market mitigate the effects of COVID-19 Enquire Here For More Details :- https://www.meticulousresearch.com/enquire-before- buying/cp_id=5151 Key Players The report includes a competitive landscape based on an extensive assessment of the key strategic developments by the leading players in the testing, inspection, and certification market over the last few years. The key players profiled in the TIC market include SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Intertek Group Plc. (U.K.), TÜV Süd AG (Germany), Dekra SE (Germany), Eurofins Scientific SE (Luxembourg), TÜV Rheinland AG Group (U.S.), Element Materials Technology Ltd. (U.K.), Lloyd’s Register Group Limited (U.K.), APPLUS+ (Spain), AsureQuality (New Zealand), DNV GL (Norway), ALS Ltd. (Australia), Mistras Group (U.S.), and UL LLC (U.S.). Scope of the Report: TIC Market by Service •Testing •Inspection •Certification TIC Market by End User •Consumer Goods and Retail •Agriculture and Food •Oil & Gas •Construction •Chemicals •Mining •Machinery •Transportation •Automotive

3. •Power Generation •Government •Marine •Healthcare •Financial Institutions •Others TIC Market by Geography: •North America oU.S. oCanada •Europe oGermany oU.K. oFrance oItaly oSpain oRest of Europe •Asia-Pacific oJapan oChina oIndia oRest of Asia-Pacific •Latin America •Middle East & Africa Key Questions Answered in the Report: •What Is the Value of Revenue Generated from Sales in the Testing, Inspection, and Certification Market? At what Rate Is the Market Expected to Grow during the Next 5-7 Years? •Which End-user Segment Showcases High Growth Opportunities for the Testing, Inspection, and Certification Market Players? •What Are the Major Drivers, Opportunities, and Trends in the Testing, Inspection, and Certification Market? •What Are the Major Restraints of the Testing, Inspection, and Certification Market? •Who Are the Prominent Players in the Testing, Inspection, and Certification Market? •Which Are the High-growth Countries/Regions in this Market?

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