Asia-Pacific Testing, Inspection & Certification Market 2019-2027: Adoption of M&A Strategy by Various Market Players Presents Opportunities
DUBLIN, Nov. 1, 2019 /PRNewswire/ -- The "Asia-Pacific Testing, Inspection & Certification Market to 2027 - Regional Analysis and Forecasts By Sourcing type; Service Type; and End-User" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific testing, inspection & certification market accounted for US$ 79.73 Bn in 2018 and is expected to grow at a CAGR of 6.3% over the forecast period 2018-2027, to account for US$ 136.00 Bn in 2027.
The consistent technological advancement, along with the integration of automated solutions into production and manufacturing processes, has gained attraction for numerous certification, testing, and inspection requirement. Besides, the continuous improvement in industry practice towards achieving superior levels of quality control and workplace safety continues to drive the demand for improved and efficient testing, inspection, and certification based requirements.
Factors such as a rise in gross domestic product and industry value add owing to an increase in demand from end-users is also anticipated to provide a steady revenue stream for the market players during the coming years. Thus, technological advancements are expected to positively impact the testing, inspection & certification market in coming years.
The existing large number of regulatory and government agencies along with trade watchdogs based institutional organization has facilitated in the seamless implementation of numerous trade practices and safety norms. Moreover, the limited inter-governmental cooperation, along with different jurisdiction restriction has resulted in the prevalence of a notably significant number of rules, certification, guidelines, and compliances related regulatory norms for various end-users.
However, the recent improvement in inter-governmental cooperation through improving international trade flow along with simplification of complicated regulation has gained traction resulting in a rise in the number of outsourced and robust TIC-based regulatory guidelines. Additionally, the prominence of free trade agreements and special economic zones approved through multiple countries deal especially across emerging economies is expected to provide numerous inspection, testing, and certification based market opportunities for the market players operating in the testing, inspection & certification market during the coming years.
The Asia-Pacific testing, inspection & certification market is fragmented with the presence of several industries, and the competitive dynamics in the testing, inspection & certification market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the Asia-Pacific testing, inspection & certification market further. For instance, the governments of various economies of the Asia Pacific region are taking initiatives to boost their country's manufacturing sector. Some of these initiatives include Make in India,' and Made in China 2025' among others.
Also, the governments of various developing economies in the region are providing tax-rebates, funds, subsidiaries, and other such provisions to support the manufacturing industry. Emerging manufacturing hubs in countries of the Asia Pacific region is anticipated to influence the global trade atmosphere; thus, driving the testing, inspection & certification market.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Asia-Pacific Testing, Inspection & Certification Market Landscape
3.1 Market Overview
3.2 Market segmentation
3.3 PEST Analysis
3.4 Ecosystem Analysis
3.5 Expert Opinion
4. Asia-Pacific Testing, Inspection & Certification Market - Key Industry Dynamics
4.1 Key Market Drivers
4.1.1 Increasing adoption of technology enabled TIC solutions by market players
4.1.2 Economic prosperity and technological advancements
4.2 Key Market Restraints
4.2.1 Lack of technical expertise and increasing number of counterfeit products
4.3 Key Market Opportunities
4.3.1 Adoption of merger & acquisition strategy by various market players
4.4 Future Trends
4.4.1 Rise in general consensus across regulatory agencies
4.5 Impact Analysis of Drivers and Restraints
5. Asia-Pacific Testing, Inspection & Certification -Market Analysis
5.1 Asia-Pacific Testing, Inspection & Certification Market Overview
5.2 Asia-Pacific Testing, Inspection & Certification Market Forecast and Analysis
6. Asia-Pacific Testing, Inspection & Certification Market Analysis - By Sourcing Type
6.1 Overview
6.2 Asia-Pacific Testing, Inspection & Certification Market Breakdown, By Sourcing Type, 2018 & 2027
6.3 In-House Service
6.4 Outsourced Services
7. Asia-Pacific Testing, Inspection & Certification Market Revenue and Forecasts to 2027 - By Service Type
7.1 Overview
7.2 Asia-Pacific Testing, Inspection & Certification Market Breakdown, By Service Type, 2018 & 2027
7.3 Testing
7.4 Inspection
7.5 Certification
8. Asia-Pacific Testing, Inspection & Certification Market Revenue and Forecasts to 2027 - End-User
8.1 Overview
8.2 Asia-Pacific Testing, Inspection & Certification Market Breakdown, By End-User, 2018 & 2027
8.3 Food & Beverage (F&B)
8.4 Healthcare & Pharmaceutical
8.5 Consumer Goods & Retail
8.6 Energy & Power
8.7 Manufacturing & Construction
8.8 Others
9. Asia-Pacific Testing, Inspection & Certification Market Revenue and Forecasts to 2027- Country Analysis
10. Industry Landscape
10.1 Market Initiatives
10.2 Mergers and Acquisitions
10.3 New Developments
11. Testing, Inspection & Certification Market - Company Profiles
- ALS Limited
- Applus Services, SA
- Bureau Veritas
- Dekra Automobile GmbH
- DNV GL
- Eurofins Group
- Intertek Group PLC
- SGS SA
- TV Rheinland AG
- TV SD AG
For more information about this report visit https://www.researchandmarkets.com/r/583r3c
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article