Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Testing, Inspection and Certification (TIC) market is always evolving. This part often gets affected by different factors in the market that help it grow at a steady pace. One big reason for the TIC market growing is that more and more industries are focusing on better product quality and safety. With people around the world working together and supply chains getting connected, businesses are realizing that they need tough tests and checks to make sure everything follows international rules. Complying with rules is a key part of the market that greatly affects TIC industry. Governments all over the world are making and changing rules to improve safety of products, protect our environment, and guard consumers. This caused a big need for TIC services, as organizations want to follow these changing rules and stay away from legal and bad name problems.
Technology improvements are very important in how the TIC market looks. Using new tech like AI, IoT and data analysis in testing and checking processes makes them faster and more correct. These technology improvements allow faster and more accurate measurements, helping growth in the TIC market. The growing complexity of supply chains is also an important market factor affecting the TIC business. As supply chains get more complicated and cover many places, the demand for full testing and checking services increases. This is very clear in businesses like making things, where firms need to make sure items are good quality all through the process of production. People are becoming more aware of the value of certified products, which is also affecting market factors.
People are becoming pickier about what they buy, looking for things that meet safety and quality rules. This understanding by consumers makes others smarter. It pushes businesses to spend in services of TIC so they can get certifications for promotion and edge over their rival firms. Furthermore, globalization has led to increased trade activities, and international trade is a significant driver of the TIC market. Companies engaged in cross-border trade must adhere to various standards and regulations specific to different regions.
TIC services provide the necessary assurances to facilitate smooth international trade by ensuring that products meet the required standards in different markets. Economic factors also play a role in influencing the TIC market. Economic growth and industrial development contribute to increased demand for TIC services, as expanding industries require thorough testing and inspection to maintain quality standards. Conversely, economic downturns may impact the TIC market as businesses may reduce spending on non-essential services.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USD 59.9808billion Billion |
| Growth Rate | 5.60%(2023-2032) |
Testing Inspection Certification Market Highlights:
Testing Inspection and Certification (TIC) Market Overview
The Testing Inspection and Certification (TIC) Market is projected to grow from USD 63.33 Billion in 2024 to USD 92.75 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.88% during the forecast period (2024 - 2032). Additionally, the market size for Testing Inspection and Certification (TIC) was valued at USD 59.9808 billion in 2023.
This growth is fueled by the rising demand for testing and certification services in the food and beverages, textile, and pharmaceutical industries are the key market drivers enhancing the market growth
Figure 1: Testing Inspection and Certification (TIC) Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Testing Inspection and Certification (TIC) Market Trends
Increasing trade in counterfeit & defective pharmaceutical products is driving the market growth
Counterfeit and pirated goods are rising worldwide, impacting consumer electronics, medical devices, oil & gas, and aerospace industries. Counterfeit pharmaceuticals, in particular, pose a significant threat, with counterfeiters exploiting high-profit margins, weak penalties, and consumers' vulnerability to deception. The availability of substandard drugs underscores the need for robust quality control processes, including testing, inspection, and certification. This factor drives the market CAGR.
Rapid technological advancements are also reshaping various industries, including healthcare and electric vehicles (EVs). In healthcare, wearable devices like smartwatches enable early prediction and treatment of health issues, while precision medicine allows personalized treatment based on individual characteristics. In the EV sector, testing and certification services are crucial in ensuring battery performance, safety, and charging system interoperability. Additionally, technologies like IoT, computer vision, and machine learning have driven the development of differentiated products and services, increasing the demand for testing, inspection, and certification across the value chain. Thus, driving the Testing Inspection and Certification (TIC) market revenue.
Testing Inspection and Certification (TIC) Market Segment Insights
Testing Inspection and Certification (TIC) Sourcing Type Insights
Based on Sourcing Type, the Testing Inspection and Certification (TIC) market segmentation include outsourcing in-house. The outsourcing segment dominated the market because outsourcing allows companies to access specialized expertise and resources that may not be available in-house. Organizations can benefit from their extensive knowledge and experience in conducting testing, inspection, and certification activities by partnering with external TIC providers. Secondly, outsourcing TIC services can help companies reduce costs and improve operational efficiency. Instead of investing in building and maintaining their own TIC infrastructure, outsourcing allows businesses to leverage the existing infrastructure of service providers, resulting in cost savings.
Testing Inspection and Certification (TIC) Service Type Insights
The Testing Inspection and Certification (TIC) market segmentation is based on service type and includes testing services, inspection services, and services of certification. The testing services segment dominated the market because testing is critical to ensuring product quality, safety, and compliance with regulatory standards. Companies across various industries rely on testing services to validate their products' performance, reliability, and safety. Testing services involve conducting rigorous tests and assessments to identify defects, weaknesses, or non-compliance issues.
Testing Inspection and Certification (TIC) End Users Insights
Based on end-user type, the Testing Inspection and Certification (TIC) market segmentation includes oil and gas, automotive, textile, aerospace, petroleum, and food. The oil and gas sector is renowned for its intricate and hazardous operations. These services involve testing materials, inspecting equipment and infrastructure, and certifying adherence to industry standards, guaranteeing integrity and safety in the sector.
Testing Inspection and Certification (TIC) Application Insights
Based on application type, the Testing Inspection and Certification (TIC) market segmentation includes commercial and industrial. The commercial segment dominated the market because commercial entities, including businesses and organizations across various industries, require TIC services to ensure compliance with regulations, maintain quality standards, and mitigate risks. Commercial enterprises seek testing, inspection, and certification services for their products, facilities, and operations to meet industry-specific requirements, demonstrate compliance with regulatory frameworks, and enhance consumer trust.
Figure2: Testing Inspection and Certification (TIC) Market, by Application, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Testing Inspection and Certification (TIC) Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Testing Inspection and Certification (TIC) market will dominate this market due to factors such as the presence of the electronic sector, increased trade, and growth in the software, defense, and aviation industry. In addition, the growing number of established health clubs and fitness facilities will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: TESTING INSPECTION AND CERTIFICATION (TIC) MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
EuropeTesting Inspection and Certification (TIC) market accounts for the second-largest market share due to the factors that contribute to the testing, inspection, and certification market are the presence of a high-tech automation division, extensive vehicle testing, and inspection services, automotive products availability, along the burgeoning automobile industry. Further, the GermanTesting Inspection and Certification (TIC) market witnessed the largest market share, and the UK Testing Inspection and Certification (TIC) market was the fastest-growing market in the European Region.
The Asia-Pacific Testing Inspection and Certification (TIC) Market is expected to grow fastest from 2023 to 2032. The growth of the Testing Inspection and Certification (TIC) market is fueled by rising demand for services and stringent government regulations to ensure health and security. Additionally, China dominates the TIC market with the largest market share, and the Indian Testing Inspection and Certification (TIC) market was the fastest-growing market in the Asia-Pacific region.
Testing Inspection and Certification (TIC) Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Testing Inspection and Certification (TIC) market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Testing Inspection and Certification (TIC) industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Testing Inspection and Certification (TIC) industry to benefit clients and increase the market sector. The Testing Inspection and Certification (TIC) industry has offered some of the most significant advantages in recent years. Major players in the Testing Inspection and Certification (TIC) market, includingBureau Veritas SA (France), SGS Group (Switzerland), Dekra Certification GmbH (Germany), ALS Limited (Australia), Intertek Group plc (the U.K.) ASTM International (U.S.) SAI Limited (Australia) BSI Group (U.K.) UL LLC (U.S.) MISTRAS Group Inc. (U.S.)., and others are attempting to increase market demand by investing in research and development operations.
SGS is a company based in Geneva, Switzerland, specializing in inspection, verification, testing, and certification services. With a vast network of 97,000 employees and 2,650 offices and laboratories worldwide, SGS has established itself as a leader in its industry. It has been recognized by Forbes 2000 multiple times, including in 2015, 2016, 2017, 2020, and 2021. SGS has recently partnered with the Fairness, Integrity, Safety, And Health (FISH) Standard for Crew (US) to provide a credible third-party certification scheme for labor practices in the wild-capture fisheries sector. As part of this collaboration, SGS has awarded FISH certification to Phoenix Processors Limited Partnership (PPLP) for two of their processor's vessels, M/V Excellence and M/V Phoenix.
UL is a renowned safety science company headquartered in Northbrook, Illinois. It consists of three entities: UL Research Institutes, UL Standards & Engagement, and UL Solutions. One of the notable initiatives by UL Solutions is the SPIRE Qualification Program, designed to cater to the growing need for smart building assessment and verification. This program allows certified third-party assessors to conduct SPIRE Smart Building Assessments and tap into the expertise of UL Solutions' smart building specialists.
Key Companies in the Testing Inspection and Certification (TIC) market include
-
GBureau Veritas SA (France)
-
SGS Group (Switzerland)
-
Dekra Certification GmbH (Germany)
-
ALS Limited (Australia)
-
Intertek Group plc. (the U.K.)
-
ASTM International (U.S.)
-
SAI Limited (Australia)
-
BSI Group (U.K.)
-
UL LLC (U.S.)
-
MISTRAS Group, Inc. (U.S.)
Testing Inspection and Certification (TIC) Industry Developments
January 2024:
UL Solutions, a global leader in applied safety science, today announced its first certification using a digital model of the product being tested, granted to technology company Siemens, a milestone that has potentially wide-ranging implications for product innovation and speed to market.
December 2023:
ALS finalized the acquisition of the ExplorTech Division from Earthlabs Inc, previously known as GoldSpot Discoveries Corp. This strategic move bolsters ALS's presence in the environmental testing and consulting domain. With ExplorTech's proficiency in geochemistry, metallurgy, and environmental analysis, ALS's current capabilities are enriched. This acquisition is anticipated to augment ALS's capacity to deliver holistic services to clientele across sectors including mining, energy, and environmental management.
December 2023:
ALS has acquired Algoritmos, bolstering its position as a prominent environmental services provider. With Algoritmos' extensive range of testing services and experienced staff, ALS enhances its capabilities to meet environmental regulatory requirements. This strategic acquisition aligns with ALS' commitment to diversification and advancement in the market, driving operational effectiveness and impact.
December 2023:Bureau Veritas announces the acquisition of Impactiva Group S.A., a renowned leader in quality assurance for the footwear and apparel industry. Impactiva, established in 2003, offers innovative solutions to optimize production quality across factories in Asia, Europe, and Africa. The acquisition signifies a significant move in enhancing quality assurance practices within the footwear and apparel industry, offering comprehensive support to clients worldwide.
September 2022:
SGS, a leading testing, inspection, and certification company, has acquired Penumbra Security, Inc. This acquisition expands SGS's cybersecurity capabilities and footprint in the US. Penumbra specializes in information security conformance testing for multinational companies. SGS aims to strengthen its position as a global leader in cybersecurity within the TIC industry.
Testing Inspection and Certification (TIC) Market Segmentation
Testing Inspection and Certification (TIC) Sourcing Type Outlook
-
Outsourcing
-
In-house
Testing Inspection and Certification (TIC) Service Type Outlook
-
Testing services
-
Inspection services
-
Services of certification
Testing Inspection and Certification (TIC) End Users Outlook
-
Oil and gas
-
Automotive
-
Textile
-
Aerospace
-
Petroleum
-
Food
Testing Inspection and Certification (TIC) Application Outlook
-
Commercial
-
Industrial
Testing Inspection and Certification (TIC) Regional Outlook
-
North America
-
US
-
Canada
-
-
Europe
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
-
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
