North America $85.48 Bn Testing, Inspection & Certification Market to 2027
DUBLIN, Oct. 1, 2019 /PRNewswire/ -- The "North America Testing, Inspection & Certification Market to 2027 - Regional Analysis and Forecasts By Sourcing type; Service Type; and End-User" report has been added to ResearchAndMarkets.com's offering.
The North America testing, inspection & certification market accounted for US$ 59.48 Bn in 2018 and is expected to grow at a CAGR of 4.3% over the forecast period 2018-2027, to account for US$ 85.48 Bn in 2027.
Factors including the growing demand for technology-enabled TIC solutions and technological advancements coupled with the prosperous economy, are the major factors driving the growth of North America testing, inspection & certification market. The progression of technological advancement, along with the popularity of the internet of things has a profound positive impact over the maintenance and inspection through the introduction of predictive maintenance.
Furthermore, the rise in emphasis towards reducing equipment and machinery downtime has added to the demand for frequent maintenance, testing, and inspection of critical assets and systems. Subsequently, the availability of technologically superior equipment and devices for testing or inspection application has facilitated in enabling accurate and seamless inspection of significant assets and systems compared to conventional approaches. Thus, technological advancements are expected to drive the testing, inspection & certification market.
The North America 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 North America testing, inspection & certification market further.
For instance, In February 2019, The U.S. FDA announced a new strategy for monitoring and inspecting food imports. As per the new strategy, FDA will be more dedicated to ensuring that food imported from overseas fulfills the same standards as food produced within the country. For this, the FDA will create a third-party certification program to audit standards for ensuring overseas facilities meet American standards.
Also, the FDA will team with nations having food safety guidelines that connect with the agency's standards. The third-party certification program is expected to bolster the testing, inspection & certification market growth.
Some of the players present in testing, inspection & certification market are
- 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
Key Topics Covered:
1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
2. Key Takeaways
3. North America 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. North America Testing, Inspection & Certification Market - Key Industry Dynamics
4.1 Key Market Drivers
4.1.1 Growing popularity of technology enabled TIC solutions
4.1.2 Continuous technological advancement coupled with economic prosperity
4.2 Key Market Restraints
4.2.1 Presence of counterfeit products with the lack of technical staff
4.3 Key Market Opportunities
4.3.1 Growing focus towards merger and acquisition strategies
4.4 Future Trends
4.4.1 Rise in general consensus across regulatory agencies
4.5 Impact Analysis of Drivers and Restraints
5. North America Testing, Inspection & Certification -Market Analysis
5.1 North America Testing, Inspection & Certification Market Overview
5.2 North America Testing, Inspection & Certification Market Forecast and Analysis
6. North America Testing, Inspection & Certification Market Analysis - By Sourcing Type
6.1 Overview
6.2 North America Testing, Inspection & Certification Market Breakdown, by Sourcing Type, 2018 & 2027
6.3 In-House Service
6.4 Outsourced Services
7. North America Testing, Inspection & Certification Market Analysis - By Service Type
7.1 Overview
7.2 North America Testing, Inspection & Certification Market Breakdown, By Service Type, 2018 & 2027
7.3 Testing
7.4 Inspection
7.5 Certification
8. North America Testing, Inspection & Certification Market Analysis - By End-User
8.1 Overview
8.2 North America 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
9. North America Testing, Inspection & Certification Market- 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
For more information about this report visit https://www.researchandmarkets.com/r/t1lqd5
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