Testing, Inspection and Certification Services Market Opportunity and Demand Ana

1. Testing, Inspection and Certification Services Market 2030 - Opportunity Analysis & Growth Insights Report

2. Industry Insights • The testing, inspection, and certification (TIC) services market size is expected to cross USD 300 billion by 2030. The growing rate of urbanization in both developed and developing economies has led to an increase in infrastructural requirements, leading to a rise in the demand for TIC solutions. • A highly fragmented business, the global testing, inspection, and certification (TIC) services market is set to witness expansion in the coming years. TIC services usually comprise a variety of activities ranging from testing, inception, quality assurance and verification, certification, and pre or post-surveillance. • TIC services are essential for a wide range of industries such as automotive, healthcare, industrial and manufacturing, construction and infrastructure, consumer goods, and oil and gas.

3. The TIC services industry is expected to expand at an appreciable pace from construction applications, specifically across the Asia Pacific. The rapid industrialization and infrastructure development in economies such as Australia, South Korea, and India has led to the higher deployment of testing, inspection, and certification solutions. • Citing an instance, Australia’s 2022-23 Budget allocates USD 13.4 billion (AUD 17.9 billion) to finance infrastructure projects. Around USD 5.5 billion (AUD 7.4 billion) will be allocated to develop water infrastructure, prioritizing drought resilience, water security, and Queensland’s agricultural sector betterment. • Private TIC service providers are playing a vital role in supporting government mandates to protect consumers from hazardous and unsafe products. To ensure compliance with national and international quality and safety standards, many product and component manufacturers are outsourcing testing, inspection, and certification services to third-party service providers. This assists them in lowering in-house compliance costs, enhance efficiency, and more easily navigating their business requirements. • GMI projections claim that the outsourced segment held close to 35% of TIC services market share in 2021. This can be credited to the expansion of industries such as automotive and consumer electronics that are rapidly outsourcing these services owing to reduced labor costs and increased compliance safety.

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5. Competitive Analysis • Global Testing, Inspection and Certification Services Market growth will be positively affected by the notable presence of reputed organizations, such as DEKRA, Apave International, SGS SA, Intertek Group PLC, Eurofins Scientific, and Bureau Veritas alongside DNV GLs, TUV Rheinland, Kiwa Group, TUV SUD, TUV Nord, and SYNLAB, among other innovative players. These companies are striving for a stronger presence in the market through various strategic initiatives such as expansion plans, M&As, and product development activities. Request for Customization @ https://www.gminsights.com/roc/2318

6. Latest Research Report On Testing, Inspection and Certification (TIC) Services Market @ https://www.gminsights.com/industry-analysis/testing-inspection-certification-tic-market Request for a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2318 Request for customization @ https://www.gminsights.com/roc/2318

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