Testing, Inspection and Certification market

1. TESTING, INSPECTION, AND CERTIFICATION (TIC) MARKET WORTH $105.99 BILLION BY 2027 AT A CAGR OF 2.4% The testing, inspection, certification (tic) is providing services to the companies operating across various industrial verticals for the purpose of improving the productivity, efficiency, manufacturing process for manufacturers to meet with the globally recognized standards, regulations and policies set by government to improve the quality of the product.The Testing, Inspection, and Certification Market is segmented by Service Type (Testing and Inspection Service, Certification Service), Sourcing Type (Outsourced, In-house), End-user Vertical (Consumer Goods and Retail, Food and Agriculture, Oil and Gas, Construction and Engineering, Energy and Chemicals, Manufacturing of Industrial Goods, Transportation (Rail and Aerospace), Industrial and Automotive), and Geography. The testing, inspection, and certification market study presents historical market data (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on service, end-user, and geography. The study also evaluates industry competitors and analyzes the market at the country level. According to this Latest Publication from Meticulous Research® titled “Testing, Inspection, and Certification Market by Service, End User (Retail, Agriculture, Oil & Gas, Construction, Chemicals, Machinery, Transportation, Automotive, Government, Marine, and Healthcare), and Region—Forecast to 2027,”the Testing, Inspection, and Certification (TIC) Market Is Expected to Reach $105.99 Billion by 2027 at a CAGR of 2.4% from 2020. The growth of the TIC market is majorly attributed to factors, such as the growing global demand for regulation of materials, products, systems, and processes, stringent government regulations, the growing illicit trade of forged and pirated goods, rising awareness among consumers regarding product quality and safety, and the emergence of advanced technologies. Download Free Sample Report Here :https://www.meticulousresearch.com/product/testing- inspection-and-certification-market-5151 Based on End-user, the TIC market is segmented into consumer goods and retail, agriculture and food, oil & gas, construction, chemicals, mining, machinery, transportation, automotive, power generation, government, marine, healthcare, financial institutions, and others. Among these, the agriculture and food segment is estimated to account for the largest share of the overall testing, inspection, and certification market in 2020.The largest share of the segment is mainly attributed to the high need to ensure product quality, the consistently rising demand for organic and processed foods, and the growing need to monitor food items closely and improve productivity. However, the healthcare segment is expected to record the highest CAGR during the forecast period due to factors such as the increasing product safety standards and the rising demand for specialized medical device testing services. Based on Service, the TIC market is segmented into testing, inspection, and certification. The testing segment is estimated to account for the largest share of the testing, inspection, and certification market in 2020. The largest share of the segment is mainly attributed to the

2. diversified product standards across different regions, rapidly transforming medical device standards, and the governments’ increasing focus on improving the quality of various goods. However, the certification segment is expected to register the highest CAGR during the forecast period due to factors such as the rising need to enhance product safety, meet international standards, and improve product value. 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 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

3. oJapan oChina oIndia oRest of Asia-Pacific Latin America Middle East & Africa Check Complete Table of Contents with the List of Tables and Figures: https://www.meticulousresearch.com/product/testing-inspection-and-certification-market-5151 Geographically, the TIC market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is estimated to account for the largest share of the testing, inspection, and certification market in 2020. The large share of this regional market is mainly attributed to the presence of major players and several emerging start-ups in the region, early adoption of the latest technologies, stringent government regulations related to drone, food, and healthcare testing, and growing trade of consumer products. However, the Asia- Pacific market is expected to witness rapid growth during the forecast period, driven by factors such as the rapidly increasing demand for consumer electronics, growing consumer awareness regarding testing and certification, the transformation of the healthcare sector, and increasing cross-border imports and exports. Key Players operating in the testing, inspection, and certification market are 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.), among others. The Impact of COVID-19 on the Testing, Inspection, and Certification Market The COVID-19 outbreak has significantly impacted the global economy. 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 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. TIC providers are focused on novel services and delivery models to smartly access latent demand for increased automation, remotely-performed services, and enhanced digitization. Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5151

4. Key Questions Answered in the Report- What are the various strategies adopted by the major players in the testing, inspection, and certification market? What are the market forecasts and estimates for the period 2020–2027? Which are the high-growth market segments in terms of service, end user, and geography? How is the competitive landscape in the testing, inspection, and certification market? What was the historical market size of the TIC market? What are the major drivers, restraints, opportunities, and trends in the testing, inspection, and certification market? Who are the major players, and what are their shares in the testing, inspection, and certification market? What are the recent developments in the testing, inspection, and certification market? What are the key geographic trends, and which are the high-growth countries? Contact Us: Meticulous Research® Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research