Testing, Inspection & Certification Market – Forecast(2020 – 2025)
The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Testing, Inspection & Certification Services Market on the basis of stating current situation of the industry in 2020.
Testing, inspection & certification (TIC) enhance the manufacturing productivity, and aid manufactures to align the conformity of the product with respect to global standards, and increase the quality of their products.
global testing, inspection, certification services Market is estimated to surpass $117.8 billion and is estimated to grow at a CAGR 5.07% during 2020-2025.
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The following Companies are covered
- TUV Nord group
- SGS group
- Bureau Veritas SA
- Intertek group PLC
- DNV GL group
- DEKRA SC
- TUV SUD
What is Testing, Inspection & Certification Services?
Advent of new technologies, increasing health safety measure, stringent environment norms have changed the entire industry outlook entirely with respect to the compliance of norms and regulations which ensure the safety of the individual, machines, buildings, etc. TIC plays a significant role to ensure products, infrastructure, services are met with the suggested standards and regulations in terms of safety and quality.
Market Segmentation by Types:
- Quality and Safety Services
- Product Performance Evaluation
- Certification and Valuation of Shipments
- Production Evaluation
- Valuation of imports with respect to standards
- Industrial Inspections
6.1. Maintenance Turnarounds
6.2. System Certification
6.3. Supplier Evaluation
6.4. Laboratory Outsourcing
Market Segmentation by Applications:
Testing, Inspection & Certification Services Market
Market Research and Market Trends of & Testing, Inspection Certification
– Leading players in the TIC industry are utilizing Big Data and digital processing improvements to pull data from many different sources, without the integration challenges of the past. These are best placed to offer a premium service to their customers.
– Digital inspection, integrated sensors and predictive maintenance are replacing physical inspection. These further help operators to enter new markets, embed client relationships raise margins, and provide growth opportunities.
– TIC service is now avoiding labor work and being transformed to Drones for crop management and asset integrity. With this inspection, costs can be reduced and inspection can be tailored to the areas interpreted by the inspector in real time. Hence, automating the process slowly.
– Bureau veritas a leading player in the industry will acquire a 65% of equity stake in McKenzie group. With this transaction Bureau veritas will have the leadership position in building & construction services in Australia.
Who are the Major Players in Testing, Inspection Certification?
The companies referred in the market research report includes SGS group, Bureau Veritas SA, Intertek group PLC, DNV GL group, DEKRA SC, Eurofins, TUV SUD, TUV Nord group.
The Main objectives of this report are:
- To analyze global Testing, Inspection & Certification Services status, future forecast, growth opportunity, key market and key players.
- To present the Testing, Inspection & Certification Services development in United States, Europe and China.
- To strategically profile the key players and comprehensively analyze their development plan and strategies.
- To define, describe and forecast the market by product type, market and key regions.
The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the report’s an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Furthermore, this study will help to solve the following issues:
- Cyclical Dynamics-Report foresee dynamics of industries by using core analytical and unconventional market research approaches.
- Identifying key cannibalizes– Strong substitute of a product or service is the most prominent threat. Report includes key cannibalizes of a market, by procuring market research. This helps in aligning new product development/launch strategies in advance.
- Spotting emerging trends– Report helps to spot upcoming hot market trends. Report also track possible impact and disruptions which a market would witness by a particular emerging trend.
- Interrelated opportunities– This report will allow to make decisions based on data, thereby increasing the chances that the strategies will perform better.
Key Takeaways from this Report
– Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level for product types, end use applications and by different industry verticals.
– Understand the different dynamics influencing the market key driving factors, challenges and hidden opportunities.
– Get in-depth insights on your competitor performance market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
– Analyze the sales and distribution channels across key geographies to improve top-line revenues.
– Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
– Get a quick outlook on the market entropy M&s, deals, partnerships, product launches of all key players for the past 4 years.
– Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
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Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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