DUBLIN--(BUSINESS WIRE)--The "Testing, Inspection, and Certification Market by Service Type, Sourcing Type, Application and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.
The Testing, Inspection, and Certification (TIC) market is estimated to be USD 184.77 billion in 2017 and is expected to be worth USD 247.94 billion by 2023, growing at a CAGR of 5.02% between 2017 and 2023.
Some of the drivers for this market are harmonization of standards, growing consumption of goods in emerging countries, increasing incidents of product recalls globally, surge in global counterfeiting and piracy activities, and imposition of rigorous government regulations and standards across various sectors. The main restrain for this market is divergent standards and regulations across geographies.
There has been an increasing demand for certification services owing to the increasing number of specified standards by governments and international standardization institutions. Companies are more aware about their credibility than before and certifications demonstrate the compliance of their products with specific standards and improve its marketability.
Earlier, manufacturers and organizations had to adhere to limited standards and regulations; hence, it was possible for companies to build their in-house testing and inspection capabilities. In recent years, the standards pertaining to human/user safety and environment safety have increased and become mandatory for certain category of products. However, this trend is shifting to the increase in outsourcing TIC services to specialized third-party service providers as they drastically reduce the operational expenditure for the manufacturers.
Companies Mentioned
- ALS
- Applus
- Avomeen Analytical Services
- Bureau Veritas
- DNV GL
- Dekra
- Element Materials Technology
- Envigo
- Eurofins Scientific
- Intertek
- Lloyd's Register
- Medistri
- Mistras
- SGS
- TUV Nord
- TUV Rheinland
- TUV SUD
- UL
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 TIC Market, By Service Type
8 TIC Market, By Sourcing Type
9 TIC Market, By Application
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/ljgl3w/testing
