Management System Certification Market Overview
As per MRFR analysis, the Management System Certification Market Size was estimated at 58.92 (USD Billion) in 2022. The Management System Certification Market Industry is expected to grow from 63.08(USD Billion) in 2023 to 116.7 (USD Billion) by 2032. The Management System Certification Market CAGR (growth rate) is expected to be around 7.07% during the forecast period (2024 - 2032).
Key Management System Certification Market Trends Highlighted
The Management System Certification Market shows remarkable growth, driven primarily by the rising demand for quality management systems. Organizations seek ways to streamline operations, reduce risks, and improve customer satisfaction, driving the adoption of these certifications. The increasing awareness and recognition of international standards such as ISO 9001, ISO 14001, and ISO 27001 contribute to market expansion.
Opportunities for market players lie in the emergence of new industry-specific certifications, the growing need for sustainable management practices, and the increasing focus on data security. The demand for specialized certifications tailored to specific sectors and the adoption of advanced technologies for certification processes present lucrative opportunities. Additionally, the integration of management systems with digital platforms and cloud-based solutions is expected to drive market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Management System Certification Market Drivers
Rapid Growth of Business Across the Globe
The increasing number of businesses globally has led to a greater demand for management system certification. This certification helps organizations meet the requirements of various standards, such as ISO 9001 (quality management), ISO 14001 (environmental management), and ISO 27001 (information security management). By obtaining these certifications, businesses can demonstrate their commitment to quality, environmental sustainability, and information security, which can help them attract new customers, improve their reputation, and gain a competitive advantage.The Management System Certification Market Industry is expected to continue to grow rapidly in the coming years, driven by the increasing number of businesses and the growing demand for quality, environmental sustainability, and information security.
Growing Awareness of the Benefits of Management System Certification
Organizations are increasingly recognizing the benefits of management system certification. These benefits include improved operational efficiency, reduced costs, increased customer satisfaction, and enhanced brand reputation. As organizations become more aware of the benefits of certification, the demand for management system certification services is expected to increase. The Management System Certification Market Industry is expected to benefit from this growing awareness as organizations seek to improve their operations and gain a competitive advantage.
Increasing Demand for Management System Certification in Emerging Markets
Emerging markets are experiencing rapid economic growth, which is leading to an increase in the number of businesses and a growing demand for management system certification. These markets represent a significant opportunity for growth for the Management System Certification Market Industry. As businesses in emerging markets seek to improve their operations and gain a competitive advantage, the demand for management system certification services is expected to increase.
Management System Certification Market Segment Insights
Management System Certification Market Certification Standard Insights
The Management System Certification Market is segmented by Certification Standard, with ISO 9001, ISO 14001, ISO 45001, ISO 27001, and ISO 50001 as the major standards. In 2023, ISO 9001:2015 for Quality Management Systems held the largest market share, followed by ISO 14001:2015 for Environmental Management Systems. The adoption of these standards is driven by the increasing demand for quality products and services and the mounting need to adopt environmentally safe procedures.
In addition, ISO 45001:2018 for Occupational Health and Safety Management Systems is likely to witness a high growth rate because organizations are becoming more and more concerned with their employees’ safety and well-being.ISO 27001:2013 for Information Security Management Systems is becoming increasingly popular due to the growing number of cyber threats and data breaches. Finally, ISO 50001:2018 for Energy Management Systems is seeing its importance grow because many organizations are focusing on reducing energy consumption and minimizing their carbon footprint.
The growth of the Management System Certification Market is facilitated by the increasing globalization of business and supply chains. More organizations are adopting these standards to demonstrate they are committed to quality products, environmentally safe operations, and safe workplaces.Such certifications help a firm acquire a competitive edge, satisfy regulatory requirements, and attract customers. Furthermore, the growing awareness of the positive effects of management system certification is also boosting the market. According to the forecast, the value of the Management System Certification Market for ISO 9001, ISO 14001, ISO 45001, ISO 27001, and ISO 50001 is expected to be 63.08 billion dollars in 2024.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Management System Certification Market Industry Vertical Insights
The Management System Certification Market segmentation by Industry Vertical includes Automotive, Healthcare, Manufacturing, IT and Telecom, and Retail. Among these, the Automotive industry held the largest market share in 2023, and it is expected to continue its dominance throughout the forecast period. The increasing adoption of quality management systems, such as ISO 9001, in the automotive industry to ensure the production of high-quality vehicles and components is driving the growth of this segment. Furthermore, the growing demand for electric vehicles and the integration of advanced technologies, such as autonomous driving and connected cars, are expected to further boost the demand for management system certification in the automotive industry. In 2023, the Automotive segment accounted for approximately 30% of the Management System Certification Market revenue, and it is projected to reach USD 22.7 billion by 2032, exhibiting a CAGR of 7.4%.
Management System Certification Market Organization Size Insights
The Management System Certification Market segmentation by organization size reveals distinct market dynamics. Small and Medium-sized Enterprises (SMEs) accounted for a significant share of the market in 2023, driven by increasing awareness of regulatory compliance and the need to improve operational efficiency. This segment is projected to maintain its dominance in the coming years, with a steady growth rate of 7.2% from 2024 to 2032. Large Enterprises, with their complex operations and presence, also represent a substantial portion of the market. They are expected to continue investing in management system certifications to enhance their risk management, quality control, and sustainability initiatives. The Government and Public Sector segment is another key market player, with a focus on compliance and service delivery improvement. This segment is anticipated to grow at a CAGR of 6.8% during the forecast period, driven by increasing government regulations and the adoption of best practices in public administration.
Management System Certification Market Scope of Certification Insights
The scope of certification is a key factor driving the revenue growth of the Management System Certification Market. Organizations can choose between single-site, multi-site, and certifications, depending on their size, industry, and regulatory requirements. In 2023, the single-site certification segment held the largest market share, accounting for over 60% of the market. This is primarily due to the fact that small and medium-sized enterprises (SMEs) typically only require certification for a single site or location. However, the multi-site and certification segments are expected to grow at a faster pace in the coming years as more organizations seek to achieve economies of scale and streamline their certification processes. By 2032, the multi-site and certification segments are projected to account for over 40% of the market.
Management System Certification Market Certification Body Type Insights
The Management System Certification Market is segmented by Certification Body Type into Accredited Certification Bodies and Non-Accredited Certification Bodies. Accredited Certification Bodies are recognized by an accreditation body, which ensures that they meet specific standards and requirements. This accreditation provides credibility and assurance to clients that the certification process is rigorous and reliable. Non-Accredited Certification Bodies, on the other hand, are not recognized by an accreditation body and may not adhere to the same level of standards and requirements.Accredited Certification Bodies account for a significant portion of the Management System Certification Market revenue. In 2023, their market share was estimated to be around 70%, and this is expected to grow to 75% by 2032. This growth is attributed to the increasing demand for accredited certifications from organizations seeking to demonstrate their commitment to quality and compliance. Non-Accredited Certification Bodies hold the remaining market share, and their growth is expected to be moderate in the coming years.
Management System Certification Market Regional Insights
Regionally, North America is anticipated to dominate the market, accounting for a significant share of the revenue. Europe is projected to follow North America, with a substantial market size. The APAC region is expected to witness significant growth, driven by the increasing adoption of management system certifications in developing countries such as China and India. South America and MEA are expected to contribute a moderate share of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Management System Certification Market Key Players And Competitive Insights
Major players in the Management System Certification Market are developing innovative solutions to cater to the evolving needs of organizations. Leading Management System Certification Market players are investing heavily in research and development to enhance their offerings and gain a competitive edge. The Management System Certification Market industry is witnessing a rise in strategic partnerships and collaborations among key players to expand their market reach and offer comprehensive solutions to customers. The competitive landscape is expected to remain dynamic, with new entrants and established players vying for market share.
A leading company in the Management System Certification Market, DNV has a presence and a reputation for providing high-quality certification services. The company offers a wide range of certification services, including ISO 9001, ISO 14001, and ISO 45001. DNV has a strong focus on customer satisfaction and is committed to delivering value to its clients. The company leverages its expertise and experience to help organizations improve their performance and achieve their business objectives.SGS, a competitor in the Management System Certification Market, is another leading provider of certification services. The company offers a comprehensive range of certification solutions, including ISO 9001, ISO 14001, and ISO 27001. SGS has a network of auditors and experts, which enables it to provide timely and efficient services to its clients. The company is committed to delivering quality and excellence in all its services.
Key Companies in the Management System Certification Market Include
-
NQA
-
SGS
-
RINA
-
Intertek
-
DNV
-
BSI
-
Kiwa
-
DEKRA
-
PECB
-
Lloyd's Register
-
ABS
-
Bureau Veritas
Management System Certification Market Industry Developments
The Management System Certification Market is anticipated to reach a valuation of 63.08 billion USD by 2023, growing at a CAGR of 7.07% to reach 116.7 billion USD by 2032. The market's expansion can be attributed to rising awareness about quality management systems, increased demand for regulatory compliance, and the growing adoption of digital technologies in certification processes. Recent developments include the launch of new certification schemes, strategic partnerships between certification bodies and industry associations, and the integration of blockchain technology to enhance transparency and security in certification processes. Key players in the market are focusing on expanding their presence, developing innovative solutions, and strengthening their partnerships to cater to the evolving needs of customers.
Management System Certification Market Segmentation Insights
|
Report Attribute/Metric
|
Details
|
|
Market Size 2022
|
58.92(USD Billion)
|
|
Market Size 2023
|
63.08(USD Billion)
|
|
Market Size 2032
|
116.7(USD Billion)
|
|
Compound Annual Growth Rate (CAGR)
|
7.07% (2024 - 2032)
|
|
Report Coverage
|
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
|
|
Base Year
|
2023
|
|
Market Forecast Period
|
2024 - 2032
|
|
Historical Data
|
2019 - 2023
|
|
Market Forecast Units
|
USD Billion
|
|
Key Companies Profiled
|
NQA, SGS, RINA, Intertek, DNV, BSI, Kiwa, DEKRA, PECB, Lloyd's Register, ABS, Bureau Veritas
|
|
Segments Covered
|
Certification Standard, Industry Vertical, Organization Size, Scope of Certification, Certification Body Type, Regional
|
|
Key Market Opportunities
|
Growing demand for regulatory compliance Increasing adoption in emerging economies Rise of digital certification platforms Focus on sustainability and ESG reporting Expanding certification offerings
|
|
Key Market Dynamics
|
Rising ISO adoption Increasing corporate sustainability focus Growing demand for quality assurance Government regulations Technological advancements.
|
|
Countries Covered
|
North America, Europe, APAC, South America, MEA
|
Frequently Asked Questions (FAQ) :
The Management System Certification Market is expected to reach a valuation of 63.08 Billion USD in 2023.
The Management System Certification Market is anticipated to grow with a CAGR of 7.07% from 2024 to 2032.
The Management System Certification Market is projected to reach a valuation of 116.7 Billion USD by 2032.
North America is expected to dominate the Management System Certification Market throughout the forecast period.
The manufacturing industry is anticipated to be the primary driver of demand for Management System Certification.
Major players in the Management System Certification Market include BSI Group, DNV GL, Intertek Group, SGS SA, and TV SD.
Management System Certification finds application in various sectors, including quality management, environmental management, occupational health and safety management, and information security management.
Digital transformation, increased regulatory compliance, and growing awareness of the benefits of certification are driving the growth of the Management System Certification Market.
Lack of awareness in emerging markets and the high cost of certification are some of the challenges faced by the Management System Certification Market.
The future of the Management System Certification Market looks promising, with continued growth expected due to increasing demand for quality, safety, and environmental sustainability.
