What is the global market size of Testing, Inspection, And Certification (TIC) Market?

Global Testing, Inspection, and Certification Market is valued at USD 222.43 billion in 2021, and it is anticipated to attain a value of USD 288.82 billion by 2028, at a CAGR of 3.75% over the forecast period (2022-2028). Read More

Who are the key vendors in the Global Testing, Inspection, And Certification (TIC) Market?

Global testing, inspection, and certification market has become very competitive, with numerous prominent and local players present across the globe. Despite its fragmentation, the industry is controlled by three major firms namely SGS, Bureau Veritas, and Intertek, which are holding around 23% of the global market. On the other hand, top ten players accounting for less than 38% of the TIC market. Enterprises in fields like as health sciences, utilities, and the public sector continue to rely on in-house TIC services. These businesses are relying on strategic collaboration activities to improve their share and profitability in the testing, inspection, and certification market'NTS (US)','Tüv Rheinland (Germany)','Cetecom (Germany)','Dekra Se (Germany)','Dnv Gl (Norway)','Element Materials Technology (UK)','Mistras (US)','ALS Limited (Australia)','Applus+ (Spain)','Ul (US)','SGS GROUP (SWITZERLAND)','BUREAU VERITAS (FRANCE)','INTERTEK (UK)','TÜV NORD (GERMANY)','TÜV SÜD (GERMANY)','EUROFINS SCIENTIFIC (LUXEMBOURG)','LLOYD’S REGISTER GROUP (UK)','MISTRAS (US)','APAVE INTERNATIONAL (FRANCE)','QR TESTING (NETHERLANDS)' Read More

What is the key driver of Global Testing, Inspection, And Certification (TIC) Market?

Rising focus of manufacturing companies on improving customer retention rate through high-quality products. Quality goods not only help businesses achieve customer happiness and retention, but they also assist firms decrease the risk and expenses involved with product recalls. By adhering to quality management standards, businesses get a competitive advantage. Furthermore, key certifications provided by recognised and reliable organizations assist such businesses in improving their commercial creditability and general efficiency. Companies connect with clients through advertisements and marketing techniques that assure them of the quality of their products. Read More

What is the key market trend for Global Testing, Inspection, And Certification (TIC) Market?

In order to broaden their market reach, key industry companies are pursuing collaborations and acquisitions of start-ups producing new goods. They are actively involved in many types of collaborations, including those with infrastructure developers, service providers, simulation services, governments, and public associations. Read More

Which region accounted for the largest share in Global Testing, Inspection, And Certification (TIC) Market?

Asia Pacific is projected to grow at the fastest CAGR in the global testing, inspection, and certification market on account of high reliance of many European and American countries on APAC-based companies for medical devices, personal protective equipment (PPE) kits, pharmaceuticals, and other necessary equipment. Apart from this, India and China have become hub for increased research and development activities in the field of autonomous and connected cars (new and improved technologies). The growth is further supported by improved lifestyles and increased prevalence of acquired infection. As a result, the regional testing, inspection, and certification market is projected to witness a considerable growth in the investments coming for R&D activities. Read More

Testing, Inspection, And Certification (tic) Companies

Testing, Inspection, And Certification (TIC) Market Competitive 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

FAQs

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 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. '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)'

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.

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.

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What is the global market size of Testing, Inspection, And Certification (TIC) Market?

Who are the key vendors in the Testing, Inspection, And Certification (TIC) Market?

What is the key driver of Testing, Inspection, And Certification (TIC) Market?

What is the key market trend for Testing, Inspection, And Certification (TIC) Market?

Which region accounted for the largest share in Testing, Inspection, And Certification (TIC) Market?

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