Testing, Inspection and Certification (TIC) Market by Service Type (Testing, Inspection, Certification), Sourcing Type (In-House, Outsourced), Application (Medical, Life Science, Food, Telecommunication) and Region - Forecast 2023 – 2030

Testing, Inspection and Certification (TIC) Market: Overview

The global testing, inspection, and certification (TIC) market is projected to grow from USD 223.9 billion in 2023 to USD 265.0 billion by 2028, registering a CAGR of 3.4% during the forecast period.

The TIC market is a highly specialized industry that provides services to ensure that products, systems, and services meet certain standards and requirements. These services can include product testing, inspection, certification, auditing, and consulting. The TIC market is segmented into various industries, including automotive, aerospace, construction, food and beverage, and healthcare. The demand for TIC services is driven by various factors, including regulatory requirements, consumer safety concerns, and the need to ensure product quality and reliability. TIC market is a growing industry that provides services to ensure that products, systems, and services meet certain standards and requirements. The demand for TIC services is driven by various factors, including regulatory requirements, consumer safety concerns, and the need to ensure product quality and reliability. The TIC industry is highly competitive, with a large number of players operating in the market.   

COVID-19 Impact:

The COVID-19 pandemic has had a significant impact on the Testing, Inspection and Certification (TIC) market. The pandemic has disrupted global supply chains and trade, which has resulted in increased demand for TIC services to ensure the safety and quality of products. The TIC industry has been affected by several challenges due to the pandemic, including travel restrictions, lockdowns, and reduced economic activity. These challenges have made it difficult for companies to conduct testing and inspection activities, leading to delays in product certification and approvals. However, the TIC industry has also seen an increase in demand for its services during the pandemic. For example, there has been an increased demand for TIC services in the healthcare industry to ensure the safety and effectiveness of medical devices and pharmaceuticals. In addition, there has been an increased demand for TIC services in the food and beverage industry to ensure the safety of food products during the pandemic.

Testing, Inspection and Certification (TIC) Market Drivers:

Governments around the world are implementing stricter regulations and standards for various industries, including healthcare, automotive, and food and beverage. This has increased the demand for TIC services to ensure compliance with these regulations. Consumers are becoming more conscious of the safety and quality of the products they purchase. This has led to an increased demand for TIC services to ensure that products meet safety and quality standards. The increasing global trade and investment has led to an increased demand for TIC services to ensure the safety and quality of products being traded across borders. Advancements in technology, such as artificial intelligence and machine learning, are being used by TIC companies to improve the efficiency and accuracy of their services. Companies are increasingly focusing on sustainability and environmental responsibility, which has led to an increased demand for TIC services to ensure that products are environmentally friendly and meet sustainability standards.

Testing, Inspection and Certification (TIC) Market: Restraints

TIC services can be expensive, and this can be a barrier for smaller companies and those operating on tight budgets. The complexity of regulations and standards can make it difficult for companies to comply with them, leading to a need for TIC services. However, the high cost of compliance can be a barrier for companies. Some companies may not be aware of the importance of TIC services or may not fully understand the benefits they provide. There is a lack of standardization in the TIC industry, which can make it difficult for companies to compare services and make informed decisions. The TIC industry is highly competitive, with many companies offering similar services. This can make it difficult for companies to differentiate themselves and win new business.

Testing, Inspection and Certification (TIC) Market: Segmentation

This segmentation can be based on the types of services provided by TIC companies. These services can include testing, inspection, certification, and other related services. TIC companies provide services to a wide range of industries, including automotive, aerospace, construction, healthcare, food and beverage, and others. Segmenting based on end-user industry can help identify the specific needs of each industry and tailor services accordingly. The TIC market can also be segmented based on geography. This includes regional and country-specific markets, as the regulatory environment and standards vary from one region to another. TIC services can be applied to a variety of products and processes. For example, product testing can be done for electrical and electronic products, toys, textiles, and others. Similarly, TIC services can be applied to processes such as supply chain management, environmental monitoring, and others. TIC services can be provided by various types of organizations, including independent third-party testing and inspection companies, in-house teams within a company, and government agencies. Segmenting based on service provider can help identify the specific needs of each type of customer.

Testing, Inspection and Certification (TIC) Market: Regional Landscape

The North American market is expected to witness significant growth due to the increasing adoption of TIC services across various industries such as automotive, aerospace, and construction.  The European TIC market is expected to grow steadily due to the presence of several regulatory bodies and industry standards that require compliance with TIC services. The Asia-Pacific region is expected to witness the highest growth rate in the TIC market due to the increasing demand for TIC services in industries such as healthcare, food & beverage, and consumer goods. The Latin American TIC market is expected to witness moderate growth due to the increasing adoption of TIC services in industries such as agriculture, mining, and oil & gas.The Middle East & Africa TIC market is expected to witness significant growth due to the increasing focus on infrastructure development and the adoption of industry standards and regulations.

Testing, Inspection and Certification (TIC) Market: Competitive Landscape

Some of the main competitors dominating the global Testing, Inspection and Certification (TIC) Market include- SGS SA, Bureau Veritas SA, Intertek Group PLC, TÜV SÜD AG, TÜV Rheinland Group, DEKRA SE, Eurofins Scientific SE, DNV GL AS, ALS Limited, and UL LLC.

Recent Developments

  • In 2021
  • TÜV SÜD, a leading provider of testing, inspection, and certification services, announced the launch of its new AI-powered platform, "AI Academy". The platform offers online training courses and certifications in the field of artificial intelligence and machine learning.
  • Intertek Group plc, a multinational TIC company, acquired NTA Monitor Ltd, a UK-based cybersecurity company. This acquisition will enable Intertek to expand its cybersecurity services and provide comprehensive testing and certification solutions to its clients.
  • Bureau Veritas, a global leader in TIC services, acquired Orion Assessment Services, a Canadian-based company that provides testing, inspection, and certification services in the mining sector. This acquisition will strengthen Bureau Veritas' presence in the mining industry in North America.
  • In 2020
  • UL LLC, a global TIC company, announced the launch of its new digital platform, "UL iQ". The platform offers an online marketplace for manufacturers to showcase their products and obtain certification from UL. This platform will enable manufacturers to accelerate their product certification process.
  • =SGS SA, a Swiss-based TIC company, acquired SYNLAB Analytics & Services GmbH, a leading provider of testing, inspection, and certification services in the pharmaceutical industry. This acquisition will enable SGS to expand its services in the pharmaceutical industry and provide comprehensive solutions to its clients.

Global Testing, Inspection and Certification (TIC) Market is segmented as follows:

  • By Service Type:
  • Testing Services
  • Inspection Services
  • Certification Services
  • By End User:
  • Agriculture & Food
  • Automotive & Transportation
  • Chemicals
  • Construction & Infrastructure
  • Consumer Goods & Retail
  • Energy & Power
  • Healthcare & Pharmaceuticals
  • Manufacturing & Process Industries
  • Mining
  • Oil & Gas
  • Others (Government & Public Sector, Aerospace & Defense)

By Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
  • Rest of Southeast Asia
  • The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Report Detail

  • Status:Published
  • Report Code:NNRR 95
  • No. of Pages:168
  • Published DateJune 2023
  • Category:ICT
  • Delivery Timeline:48 hrs

Customized

  • => Region Level Market Share
  • => Import Export Analysis
  • => Additional Company Profiles
  • => Region Specific Market Dynamics
  • => Production Analysis
  • => Additional Countries (Apart From Mentioned Countries)
  • => Country/Region-specific Report