Testing, Inspection, and Certification (TIC) Market Worth US$299,628.6 Mn by the Fall of 2025; Emerging Economies are Vital for the Growth - TMR

News provided by

Transparency Market Research

Jul 12, 2019, 06:30 ET

ALBANY, New York, July 12, 2019 /PRNewswire/ -- According to the latest report published Transparency Market Research, the global testing, inspection, and certification market is projected to have a valuation worth US$299,628.6 mn by the fall of 2025. This growth is a substantial increase from the earlier market valuation of US$184,545.5 mn reported in 2016. The overall growth of the global testing, inspection, and certification market is expected to be achieved with a steady CAGR of 5.8% over the course of the given forecast period of 2017 to 2025.

From a view of types of services, the testing, inspection, and certification market is primarily dominated by testing and inspection. The section accounts for an eye-catching 95% of the overall share in the global testing, inspection, and certification market. The growth of the segment is mainly driven by the growing focus on the hygiene and safety regulation in the food industry. This segment is expected to continue its dominance in the coming years of the forecast period.

Planning to lay down future strategy? Perfect your plan with our report sample here

Europe to Continue Its Lead; the Asia Pacific Not So Far Behind

Based on the regional outlook, the testing, inspection, and certification (TIC) market was previously dominated by Europe and is expected to continue to do so in the coming years of the forecast period. This high growth of the region is attributed to the strict compliance towards the safety guidelines across different industries such as wastewater, chemical water, transport & logistics, and food & beverages. Evolving product regulatory framework across North America coupled with growing advances in technology are creating ample opportunities for growth of the market in this region. Also, the Asia Pacific and South America are projected to show a high rate of growth due to a growing trend of outsourcing services to the developing countries in the region.

Get a PDF Brochure for More Details at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=5669

Changing Economic Conditions Force Companies to Adapt and Devise New Strategies

The global testing, inspection, and certification (TIC) market have a highly fragmented competitive landscape. The reason behind this is the presence of a large number of key players. According to the report, the market is on course to witness heavy competition among the leading companies in the world to capture a larger chunk of the market share. This will thus lead to the companies to adopt aggressive marketing and business strategies such as mergers and acquisitions to bolster their market presence. Emerging economies across the globe such as China and India are thought to present lucrative business opportunities to the companies.

Request a Custom Report at https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=5669

These developing nations have great potential for the development of the testing, inspection, and certification market. In the recent past, the volume of goods that are exported from these nations to already developed countries has grown substantially. Additionally, controlling the complete value chain is the new trend that is being followed by western companies. A reason behind the growth of this trend is the exported good must comply with the western standards. Having complete control over the value chain makes this task easier.

Furthermore, the middle class in the BRIC nations has become highly health conscious and savvy. People in these countries are experiencing rapid economic growth and as a result, they are demanding quality resources with proper certifications. This is thus expected to play an important part in the future strategic decisions and campaigns of the companies operating in the testing, inspection, and certification market.

Request for Multiple Chapters - https://www.transparencymarketresearch.com/sample/sample.php?flag=MC&rep_id=5669

Some of the key players in the global testing, inspection, and certification (TIC) market include names such as TÜV Rheinland Group, AsureQuality Ltd., Lloyd's Register Group Limited, SGS Group, Intertek Group PLC, ASTM International, TUV SUD AG, Bureau Veritas SA, DNV GL Group AS, and Underwriters Laboratories Inc. among others.

The study presented here is based on a report by Transparency Market Research (TMR) titled "Global Testing, Inspection, and Certification Market (Service Type – Testing and Inspection and Certification; Sourcing Type - In-house Sourcing and Outsourcing; Industry - Infrastructure and Construction, Transformational and Contract Manufacturing, Food and Beverages, Agriculture and Forest, Information Technologies, Chemical, Healthcare and Pharmaceutical, Transportation and Logistics, Travel and Tourism, Energy and Utilities, Water and Wastewater Management, Government, Education, Textile, and Cosmetics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017–2025."

The global testing, inspection, and certification market is segmented based on:

Service Type

  • Testing and Inspection
  • Certification

Sourcing Type

  • In-house Sourcing
  • Outsourcing

Industry

  • Infrastructure & Construction
  • Transformational & Contract Manufacturing
  • Food & Beverages
  • Agriculture & Forest
  • Information Technologies
  • Chemical
  • Healthcare & Pharmaceutical
  • Transportation &Logistics
  • Travel & Tourism
  • Energy & Utilities
  • Water & Wastewater Management
  • Government
  • Education
  • Textile
  • Cosmetics
  • Others

Browse IT & Telecom Market Research Reports

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free:
866-552-3453
Email: [email protected]
Website: http://www.transparencymarketresearch.com
Research Blog: https://beetribune.com/

SOURCE Transparency Market Research

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED