Testing, Inspection, & Certification (TIC) Market key players, growth, analysis, 2019

1. Testing, Inspection, & Certification (TIC) Market key players, growth, analysis, 2019 Market Overview Global testing, inspection, and certification (TIC) market was valued at US$ 182,933.6 Mn in 2018, and is expected to exhibit a CAGR of 5.9% over the forecast period to reach US$ 310,003.6 Mn in 2027. Europe accounted for 37.1% revenue share in the global testing, inspection, and certification market in 2018. Asia Pacific is expected to account for a significant market share in the near future, particularly in China and India. Asia Pacific TIC market growth is driven by increasing environmental and food safety violations in the region, which have led government agencies to implement policies that will ensure consumer safety and limit the amount of environmental deterioration caused due to e-waste. Moreover, rising international trade has increased the number of exports from Asia Pacific to Europe. Exports from emerging economies of Asia Pacific have to clear detailed estimation to meet various standards set by governing authorities in Europe and North America, which is expected to drive the TIC market growth in Asia Pacific. Request Sample Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-sample/2821 Market Dynamics Europe is expected to be the largest market in terms of size during the forecast period. The major factors driving the market growth are increasing demand for TIC services in the region, technological advancements in the automotive industry, and outsourcing of TIC services. Moreover, increasing trade of consumer products is expected to drive growth of Testing, Inspection, and Certification (TIC) Market in Europe. Organizations such as the European Telecommunications Standards Institute, and European Committee for Standardization are developing new rules and regulations such as those listed under the Construction Products Directive to maintain product safety and limit the flow of counterfeit products. Key players in the market such as Test Pro, Testing Solutions Group Ltd, and Testhouse Ltd. are driving the market growth by providing assurance and testing services. Moreover, Brexit, the withdrawal of U.K. from European Union, added new channels for free trade and communication, which has led to higher opportunities for offshore businesses to conduct trade in the U.K. However, different regulations for trade such as import tariffs and regulation or discrimination against foreign suppliers within and outside the European Union are restraining growth of the Testing, Inspection, and Certification (TIC) Market in Europe. Lack of commonly accepted international standards by countries is one of the major factors hampering growth of the Global Testing, Inspection, and Certification (TIC) Market. The standards of testing, inspection, and certification to safeguard consumers from unsafe and non-compliant products and

2. services vary according to countries. Companies that provide TIC services need to follow these varying standards, which leads to an increase in the cost of operation, in addition to other expenses. Moreover, the complex nature of the supply and value chain, as well as the uncertainties in macroeconomics is another factor hindering growth of the testing, inspection, and certification market. Get Request Customization Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-customization/2821 Major players operating in the global testing, inspection, and certification (TIC) industry include SGS Group, Bureau Veritas SA, TUV Rheinland Group, Intertek Group PLC, ALS Limited, DNV GL, MISTRAS, Lloyd’s Register Group Limited, Underwriters Laboratories Inc., ABS Group, and ASTM International. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Name: Mr. Raj Shah Phone: US +12067016702 / UK +4402081334027 Email: sales@coherentmarketinsights.com Visit Our Blogs: https://blog.coherentmarketinsights.com