Global Testing, Inspection, Certification (TIC) Market is valued at USD 198.52 Billion in 2020 and expected to reach USD 271.97 Billion by 2027 with the CAGR of 4.6% over the forecast period
Testing, Inspection and Certification (TIC) Services Market report is segmented on service type, end-user, and by regional & country level. Based upon service type, testing, inspection and certification (TIC) services market is segmented into Testing Service, Inspection Service and Certification Service. On the basis of end user the Testing, Inspection and Certification (TIC) Services market is segmented into Construction and Engineering, Chemicals, Energy and Commodities, Food and Healthcare, Transportation, Products and Retail, Industrial and Other.
Testing, inspection and certification services involved the confirmative authorities which provide services from auditing, inspecting, verification and provide quality assurance certificate. These services can be in house or outsourced by the organization as TIC is one of the major policies which everyone has to adhere. TIC is one of the major compliance which assures the quality and safety of goods for use and manufactured with standard process without compromising with resources and quality.
The regions covered in this Testing, Inspection and Certification (TIC) Services market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Testing, Inspection and Certification (TIC) Services market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for Testing, Inspection, and Certification (TIC) market are ALS Limited, Applus+, Bureau Veritas SA, DEKRA SE, DNV GL, Element Materials Technology, Eurofins Scientific, Intertek Group plc, MISTRAS Group, Inc., SGS SA, TÜV NORD GROUP, TÜV Rheinland, TÜV SÜD, UL LLC, Others,
There are various factors pertaining to the growth of TIC services market. There is constant increase in the outsourcing of TIC services Due to increasing trade practices between countries due to the globalization. Due to these practices every product has to adhere the standard regulation to assure the safety of the product. Furthermore, increased awareness among people and risk associated with the quality has made these services compulsory on a regular basis. Increase awareness led to the increase focus on quality and production process coupled with changing compliance regulations. Moreover, the regulatory policies are getting stringent day by day about the quality, environment safety and health has increased the demand for TIC services market over the forecast period. However, Increasing safety breaches making the TIC services and process more complex which is expected to negatively affect the growth of TIC services market in the near future.
Europe is expected to account the major market share over the forecast period which was closely followed by North America in terms of revenue share. The presence of developed countries such as U.S., Canada, UK, Germany and other, the developed countries are particular about the quality, safety and production process. Furthermore, presence of advanced technology and R&D services for better TIC services are expected to fuel the growth of TIC Services market over the forecast period. Asia Pacific is expected to develop significantly over the forecast period due to the presence of developing economies such as India, China and others and it is expected that these countries have wide scope of these services in near future. Moreover, increasing investment in new technologies and government initiatives are further expected to drive the growth of TIC services market. Latin America, Middle East and Africa is expected to develop at a considerable rate over the forecast period due to the lack of awareness among people and lack of better infrastructure.
|2015 - 2020
|2021 - 2027
|Market Size in 2020:
|USD 198.52 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2027:
|USD 271.97 Billion
|Tables, Charts & Figures:
|Testing, Inspection, and Certification Companies
|ALS Limited, Applus+, Bureau Veritas SA, DEKRA SE, DNV GL, Element Materials Technology, Eurofins Scientific, Intertek Group plc, MISTRAS Group, Inc., SGS SA, TÜV NORD GROUP, TÜV Rheinland, TÜV SÜD, UL LLC, Others,
|By Service Type, By End-User
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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