USD 224.92 billion
Testing, Inspection, And Certification (TIC) Market Size, Share, Growth Analysis, By Service Type(Testing Services, Inspection Services, Certification Services, and Others), By Sourcing Type(In-House, Outsourced), By Application(BFSI (Improved Business Performance and Reduced Cost to Boost Demand for Digital Transformation Solutions, Fraud Detection and Prevention, Asset and Investment Management, Customer Service Automation (Chatbots)), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45C2079 |
Region:
Global |
Published Date: June, 2024
Pages:
165
|Tables:
128
|Figures:
77
Testing, Inspection, And Certification (TIC) Market Insights
Global Testing, Inspection, and Certification (TIC) Market size was valued at USD 220.1 billion in 2022 and is poised to grow from USD 228.37 billion in 2023 to USD 285.64 billion by 2031, growing at a CAGR of 3.8% during the forecast period (2024-2031).
The need for reliable testing, inspection, and certification (TIC) solutions and services in industries and businesses is boosting the TIC market. Such secure and effective practices work effectively to guarantee that companies stick to the best quality, productivity, and efficiency. Through TIC services, the supply chain activities are well handled such that they achieve the individual needs of the companies, hence enhancing business operations. For instance, in January 2022, Temasek, an investment firm specializing in restructuring, growth capital, and divestment transactions based in Singapore, purchased Element Materials Technology, which is a prominent TIC provider. This acquisition is a major development in the TIC industry and remains a key driver in the Group’s growth strategy.
This has shifted the dynamics of the Testing, Inspection and Certification (TIC) business due to the COVID-19 pandemic. The manufacturing and production industries in many parts of the world have been affected, or in some cases shut down completely because of many nations’ governments’-imposed lockdowns. However, TIC practices in the healthcare sector increased rapidly due to heightened demand and need for healthcare services and health related products such as medical equipment. Likewise, the consumer goods sector engaged in TIC during the pandemic to prevent the spread of the virus and to feed the population safe and better-quality food. For instance, in January 2022, DNV— a global certification, assurance, and risk management company – bought MEDCERT, a German-based notified body to strengthen its healthcare and medical device assurance portfolio. It will greatly enhance the capacity of DNV as a company that offers medical device notification services.
The COVID-19 pandemic has significantly disrupted the Testing, Inspection, and Certification (TIC) market. Manufacturing and production activities in several regions have declined due to lockdowns imposed by many national governments. However, the healthcare sector experienced a surge in TIC practices driven by the increased demand for healthcare services and related products, including medical supplies. Similarly, the consumer goods sector adopted TIC practices during the pandemic to meet the growing demand for safe and high-quality food products. For instance, in January 2022, DNV, a global certification, assurance, and risk management company, acquired MEDCERT, a notified body based in Germany, to enhance its healthcare and medical device assurance capabilities. This acquisition significantly boosts DNV's ability to provide medical device notification services.
Furthermore, increase in the global infrastructure and in the renewable energy sectors has promising opportunities for the global TIC market. Urbanization has promoted infrastructure advancement in both the developed and developing world by challenging both planners and decision-makers into adopting TIC solutions that enhance safety and quality of infrastructure projects. Moreover, renewable energy projects, including those based on solar and wind power, depend on unique equipment that must work efficiently. This makes it pertinent that appropriate TIC systems should be put in place to effectively carry out functions of key parts of a machine. For instance, in the year 2022, an international safety certification company by the name of UL LLC stated in October that it was launching a cable fire safety testing laboratory in the industrial city of Abu Dhabi. This facility enables manufacturers / and distributors of optical and electronic cables and busways from across the Middle East to access local fire safety testing facilities.
US Testing, Inspection, And Certification (TIC) Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
food industry
Fastest Growth
food industry
Growth Rate
5.30% CAGR
Global Testing, Inspection, And Certification Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Testing, Inspection, And Certification (TIC) Market Segmental Analysis
The Global Testing, Inspection, and Certification (TIC) Market is segmented by Service Type, Sourcing Type, Application and region. Based on Service Type, the market is segmented into Testing Services, Inspection Services, Certification Services, and Others. Based on Sourcing Type, the market is segmented into In-house, and Outsourced. Based on Application, the market is segmented into BFSI (Improved Business Performance and Reduced Cost to Boost Demand for Digital Transformation Solutions, Fraud Detection and Prevention, Asset and Investment Management, Customer Service Automation (Chatbots), Personalized Financial Recommendations, Regulatory Compliance Monitoring, and Others), Retail & E-Commerce (Adoption of Digital Transformation Solutions to Boost Business Decision Performance and Profit Margins, Personalized Product Recommendations, Customer Relationship Management, Payment Services Management, Virtual Customer Support, Contactless Payments and Mobile Wallets, and Others), IT/ITES (Digitalizing Business Processes to Meet Growing Customer Demands to Drive Market, Automated Code Generation and Optimization, Automated It Asset Management, IT Ticketing and Support Automation, Intelligent Data Backup and Recovery, Automated Software Testing and Quality Assurance, and Others), Media & Entertainment (Rising Content Consumption, Digital Entertainment, and Cloud Adoption to Generate Demand for Digital Transformation, Content Recommendation Systems, Content Creation and Generation, Content Copyright Protection, Audience Engagement and Personalization, Personalized Advertising, and Others), Manufacturing (Adoption Of Digital Transformation with New Technologies to Boost Performance and Improve Decision-Making, Predictive Maintenance and Machinery Inspection, Production Planning, Defect Detection and Prevention, Quality Control, Production Line Optimization, Intelligent Inventory Management, and Others), Healthcare, Life Sciences & Pharmaceuticals (Real-Time Decision-Making to Deliver Proper Insights for Patients to Boost Need for Digital Transformation Solutions, Electronic Health Records and Electronic Medical Records (E-Hr & E-Mr), Telemedicine and Remote Patient Monitoring, Health Information Exchange, Medical Imaging and Diagnostics, Health Applications, and Others), Energy & Utilities (Rising Need to Manage Massive Amount of Mission-Critical Material in Real Time to Drive Market, Energy Demand Forecasting, Grid Optimization and Management, Energy Consumption Analytics, Smart Metering and Energy Data Management, Real-Time Energy Monitoring and Control, and Others), Government & Defense (Tax Collection, Safety, Public Interest, And Critical International Data Sharing to Boost Growth, Intelligence Analysis and Data Processing, E-Governance and Digital City Services, Border Security and Surveillance, Digital Identity and Authentication, Command and Control Systems, Tax and Revenue Management, and Others), Telecommunications (Increasing Use of Connected Devices, IOT, and 5g To Help Adoption Of Digital Transformation Solutions, Network Optimization, Network Security, Customer Service and Support, Network Planning and Optimization, Voice and Speech Recognition, and Others), Education (Need For Innovative and Flexible Learning Solutions in Digital Age to Drive Market, Mobile Learning, Learning Management Systems, Adaptive Learning and Assessment, Digital Textbooks and E-Books, E-Learning, Administrative Automation, and Others), Agriculture (Need For Increased Food Production to Drive Digital Transformation Market Growth, Crop Monitoring, Yield Monitoring and Prediction, Irrigation and Water Management, Feeding Management, Weather and Climate Monitoring, Farm Management Systems, and Others), Automotive, Transportation & Logistics (Increasing Demand for Seamless Connectivity, Autonomous Vehicles, And Efficient Logistics to Drive Market, Route Optimization, Traffic Management, Driver Assistance Systems, Fleet Management, Intelligent Parking Systems, and Others), and Other Verticals. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Testing, Inspection, And Certification (TIC) Market Analysis by Service Type
Testing segment held the largest market share in 2023, contributing to over 70% of the total market revenue. This significant share is attributable to the influence of testing practices across various industries, including automotive, energy and utilities, oil and gas manufacturers, and manufacturing. This has made organizations achieve higher standards in their products as well as address the required quality to meet their consumers’ demands hence encouraging various industries to enhance their operational budgets on testing apparatus. For example, in November 2022, Wallace Instruments, an internationally renowned testing equipment manufacturing company for the rubber industry announced the new WAC11 Mk5 Compression Stress Relaxometer, a new generation of compressional stress relaxometer. The Compression Stress Relaxation (CSR) standard is significant primarily in car making, airplane manufacturing, energy and utility industries, and constructions because the CSR gauges the ability of the elastomer seals to hold up to compression stress in numerous climates for a determined amount of time. Derived from the above information, the WAC11 Mk5 enables the operators to perform a rapid analysis of the CSR characteristics of O-rings, rubber seals, gaskets among other products, helping to determine the long-term sealing behavior and the prediction of service life.
The inspection segment has more growth opportunities, specifically due to the growth of supply chain activities in countries which has made the use of inspection more common. Moreover, the consumer goods sector drives the expansion of the inspection segment. Some of the potential forces that have created a need for companies to adopt effective inspection systems include; Today, the national governments and international bodies have put in place stringent regulations on the quality of cosmetics, electrical & electronics, sports & athleisure wear, and textiles & footwear. For instance, in October 2022, a testing, inspection, and certification firm known as SGS SA purchased The IDEA TESTS Group, which is a large microbiological, clinical and in-vitro testing, and regulatory service provider for the French personal care and cosmetics sectors. This acquisition is expected to add value to SGS SA’s microbiological, clinical, and in-vitro testing strategies in France, while opening a new range of services in the cosmetics and hygiene fields – the core markets of the company.
Testing, Inspection, And Certification (TIC) Market Analysis by Sourcing Type
The in-house type dominated as the largest revenue generator in 2023, generating more than 55% of the overall revenues. By adopting in-place testing and inspection practices, TIC activities can be efficiently performed because these approaches are readily accessible within the company; Moreover, companies can hire specialized personnel and develop unique practices based on the company’s requirements. Thus, the employment of in-house TIC teams provides enhanced control and a heightened level of appreciation of business processes for an organization and may be beneficial in that regard.
The outsourced segment is expected to create a high demand in the market and is predicted to register a maximum CAGR during the forecast period. That said, outsourcing TIC services benefits the company because the company can attain cost-efficiency and concentrate on short-term objectives. It also includes the possibilities to apply TIC practices through different engagement models, including the hourly, time and materials, and the dedicated team model, which enhances the system's efficiency. For instance, the food and beverage industry are implementing more benefits of advanced technologies and innovative solutions for production, quality of foods and safety, risk management, and meeting international standards. Further-more, there is advanced Internationalization and urbanization, and this makes the TIC service supply chain complicated and leads to the privatization of laboratories. This trend effectively increases the efficiency of the TIC suppliers and simultaneously creates the demand for outsourcing such services.
Global Testing, Inspection, And Certification Market Size By Sourcing Type (%)
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Testing, Inspection, And Certification (TIC) Market Regional Insights
Asia Pacific emerged as the largest TIC market in the world with a revenue scale of more than 30%. A significantly large proportion contributes to the fact that the economic development in countries such as China, India, Japan and South Korea has grown rapidly. The increase in industrial and manufacturing activities in these nations has led to higher growth in the opportunity for TIC market. Also, the development of a robust AI technology hub in Singapore creates a conducive environment for the TIC market since testing and inspection services depend on the growth of this technology.
Europe is expected to witness significant growth during the forecast period. The large and broadly developed automotive industry in Germany and France results in the requirement of effective testing and inspection systems in the companies. Furthermore, the existence of many fashion brands, consumer products, and retail companies in countries such as Italy and the U. K. serves as a catalyst for growth and diversification of the TIC market of the region.
Global Testing, Inspection, And Certification Market Size By Geography
- Largest
- Fastest
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Testing, Inspection, And Certification (TIC) Market Dynamics
Testing, Inspection, and Certification (TIC) Market Driver
Increasing Need for Interoperability Testing Due to Growing IoT Adoption
- The increasing adoption of smart technologies to improve production and output, and the increasing need to assess IoT devices for data and product quality, is becoming the primary growth in the TIC market. Hence, while IoT and smart connected devices provide more opportunities for achieving higher profit margins for the manufacturers and developers they are also associated with large risks and challenges for the same manufacturers and developers given the high incidence of data breaches. To counter these risks, the manufacturers are focusing on providing better protection to the devices and the data of the users. Thus, the TIC industry is already playing a proactive role in the prevention and mitigation of cybersecurity threats by following common standards and regulations like ANSI/UL 2900, IEC 62443, and NIST CSF. The usage of personal IoT devices which include fitness wearables and now emergence of smart home ecosystem devices has changed the dynamics of customer and enterprise and the communication service providers’ interactions. These devices bring automation and flexibility to different business activities, making it important to perform tests that would confirm the secure connection and the ideal performance of these solutions.
Strict Rules and Regulations and Rising Demand for Product Standardization
- Most of the government authorities in many countries have made testing and inspection certification compulsory with the aim of ascertaining that the products being sold on the market are safe and of high quality. Consumer products are expected to have quality and safety tests carried out by third party testing laboratories to legal requirements. The need to reduce the risk for human and environmental safety through adopting more stringent laws and regulations globally is putting pressure on market growth. For Instance, the safety regulations that manufacturers in European countries are required to observe include the Classification, Labeling, and Packaging/Globally Harmonized System (CLS/GHS), Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), the Conformity European Mark (CE and RE Marking), Safety of Toys and Children’s Safetyamong others. These standards are important as they will help ensure that products produced in the market must meet those set quality and safety standards. Concerned government authorities across the globe have put in place testing and inspection certifications for safe and quality products. For instance, in March 2021, the TIC Council of America became a member of the Buy Safe America Coalition, which is an association of consumers, retailers, wholesalers and manufacturers supporting the INFORM Consumers Act. It creates the need for greater responsibility and transparency in the management of online marketplaces to tackle the emerging problem of counterfeit products being sold on the internet.
Restraints
Lack of Uniformity in Global TIC Standards
- One of the most important challenges associated with the global Testing, Inspection, and Certification (TIC) industry is the absence of a harmonized system. Regulations and compliance are diverse depending on the country or region that a company operating in TIC services is in or from. These variations cause challenges in the compliance of the various regulations across different territories, engaging in international business, and reaching out to markets with different sets of rules and regulations. It could also prolong the time taken to obtain certifications and approvals on products and services, which may slow down business operations, as well as limit the expansion of products and services in the region. In general, one finds that the lack of uniformity in TIC across the world becomes a significant challenge for industry players who wish to conduct their operations across borders and ensure they are delivering quality products that meet set standards and regulatory frameworks.
Slower Adoption of Advanced Technologies by Small and Medium-Sized TIC Companies
- The expansion of the global market has led to the introduction of numerous technologies in various fields, including robotic process automation in manufacturing, machine learning in marketing, and AI-powered chatbots. Since technology progresses at a fast pace, the changes influence daily work and business practices in a major way; cognitive computing, blockchain, cybersecurity, and AR/VR are expected to redefine TIC providers’ vision of the market. However, there are several challenges that small TIC firms face in adopting these innovations since there is high capital intensity of research in any innovative products. Furthermore, adopting advanced technology-basedsolutions for testing and certification also poses new entry and scale advantages to the entrants and small players. However, large traditional ITC companies with strong financial strength can incorporate these emerging technologies into their service delivery across multiple domains with ease. For instance, a consumer can use his or her smartphone to scan a physical QR code placed at a retail store to access more information about a particular product, which helps in decision making. However, the inclusion of progressive technologies in the range of service offerings or the certification of products and services in various applications is still challenging for smaller TIC players soon.
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Testing, Inspection, And Certification (TIC) Market Competitive Landscape
The competitive landscape of the global Testing, Inspection, and Certification (TIC) market is characterized by the presence of several key players striving to maintain their market positions through strategies such as mergers and acquisitions, partnerships, and technological innovations. Major companies with their extensive service offerings spanning various industries including automotive, energy, manufacturing, healthcare, and consumer goods. These industry leaders leverage their strong global presence, diverse service portfolios, and robust quality assurance practices to cater to the evolving needs of clients worldwide. Additionally, emerging players and regional TIC firms are enhancing their market presence by focusing on niche markets, technological advancements, and strategic collaborations to gain a competitive edge in the dynamic TIC landscape.
Testing, Inspection, and Certification Market Top Player's Company Profiles
- Dekra Certification GmbH (Germany)
- ALS Limited (Australia)
- BSI Group (UK)
- Kiwa NV (Netherlands)
- SAI Global Limited (Australia)
- SGS SA (Switzerland)
- Bureau Veritas (France)
- Intertek Group plc (UK)
- Eurofins Scientific (Luxembourg)
- DEKRA (Germany)
- TÜV SÜD (Germany)
- DNV GL (Norway)
- TÜV RHEINLAND (Germany)
- Applus+ (Spain)
- ALS (Australia)
- TÜV NORD Group (Germany)
- Lloyd’s Register Group Services Limited (UK)
- MISTRAS Group (USA)
- Element Materials Technology (UK)
- UL LLC (US)
Testing, Inspection, and Certification Market Recent Developments
- In February 2024, TÜV Rheinland announced an expansion of its partnership with Alibaba.com, a prominent B2B purchasing platform. Under this expanded collaboration, TÜV Rheinland will independently audit suppliers and factories on Alibaba.com, focusing initially on regions including Germany, Austria, Switzerland, Italy, and soon France. These audits, known as the "Verified Supplier" project, involve comprehensive assessments of various aspects such as sales and production services, quality management, and supply chain practices. The aim is to enhance trust and transparency for B2B transactions, particularly benefiting small and medium-sized enterprises (SMEs) in Europe. Through this initiative, TÜV Rheinland seeks to promote B2B trade growth and accelerate digitalization in the region, aligning with its expertise in providing testing, inspection, and certification services to support businesses in ensuring compliance and quality standards.
- In February 2024, TÜV Rheinland, a independent testing, inspection, and certification services, forged a strategic partnership with Pantone®, a renowned authority on color. This collaboration marks TÜV Rheinland as the first laboratory partner designated by Pantone to conduct Pantone Validated measurements in Asia. Under this arrangement, TÜV Rheinland will perform rigorous color evaluations to ensure that products meet Pantone's exacting standards for color performance. By offering Pantone Validated testing services, TÜV Rheinland aims to streamline the process for customers in Asia, particularly those in the Greater China and Asia Pacific regions, enhancing efficiency and facilitating access to global markets.
- In July 2022, National Technical Systems, Inc. (NTS), a provider of qualification testing, inspection, and certification solutions in North America, announced a business collaboration agreement with NuScale Power Corporation to construct a LOCA (Loss of Coolant Accident) chamber. This chamber will facilitate the testing of components for NuScale's small modular reactor (SMR) technology, ensuring compliance with regulatory standards and safety protocols. Under the agreement, NTS will design, fabricate, and commission the EQ (Equipment Qualification) Test Chamber at its nuclear testing facility in Huntsville, AL. This collaboration aims to enable NuScale to simulate environmental conditions necessary for equipment testing, meeting the requirements set by the Nuclear Regulatory Commission and specific plant standards.
Testing, Inspection, And Certification (TIC) Key Market Trends
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Rising Use of Blockchain Technology in TIC Services: Blockchain technology holds significant potential to revolutionize certification processes by enhancing data security, transparency, and efficiency. Its key features—immutability, cryptography, and decentralization—ensure tamper-proof records, secure data access, and resilience against cyber threats. Blockchain can automate workflows, expedite verification processes, and reduce costs, thereby streamlining certification procedures. This is particularly beneficial for applications such as product certifications, organic farming, education, and sustainability. However, challenges like technological maturity, regulatory frameworks, and user adoption need to be addressed for widespread implementation. In the context of Testing, Inspection, and Certification (TIC) services, blockchain enhances data security and privacy through cryptographic techniques and a distributed ledger system, mitigating risks like data breaches and unauthorized access. It ensures transparency by providing tamper-proof transaction records, which is particularly valuable in areas like telecommunications billing. Additionally, blockchain facilitates product lifecycle tracking, ensuring authenticity and compliance, thereby reducing counterfeit risks and improving supply chain efficiency. In telecommunications, it boosts network security and interoperability while supporting innovative models like decentralized communication networks and peer-to-peer data sharing.
Testing, Inspection, And Certification (TIC) Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global Testing, Inspection, and Certification (TIC) market features a competitive landscape with several leading companies providing a broad spectrum of services across diverse industries such as automotive, energy, manufacturing, healthcare, and consumer goods. These major players leverage extensive global networks and advanced technologies to deliver high-quality, compliant services that adhere to stringent regulatory standards. They maintain their market position through strategic initiatives like mergers and acquisitions, partnerships, and continuous innovation. Additionally, emerging and regional firms enhance the market dynamics by focusing on niche markets and specialized services, contributing to the overall growth and competitiveness of the TIC industry.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 220.1 billion |
| Market size value in 2031 | USD 285.64 billion |
| Growth Rate | 3.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Testing, Inspection, And Certification (TIC) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Testing, Inspection, And Certification (TIC) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Testing, Inspection, And Certification (TIC) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Testing, Inspection, And Certification (TIC) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Testing, Inspection, And Certification (TIC) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Testing, Inspection, And Certification (TIC) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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