According to a research report "Testing, Inspection and Certification Market with COVID-19 Impact Analysis by Service Type (Testing, Inspection, Certification), Sourcing Type (In-House, Outsourcing), Application and Geography - Global Forecast to 2026" published by MarketsandMarkets, the testing, inspection and certification market is projected to reach USD 249.4 billion by 2026 from USD 207.2 billion in 2021; it is expected to grow at a CAGR of 3.8% from 2021 to 2026.
Globalization has led to the standardization of products and goods used in the food & beverages, electronics, and automotive industries.
TIC players are increasing their horizon by setting up their testing labs in APAC countries as the potential of APAC countries in applications such as consumer electronics and goods, automobiles, renewable energy solutions is depicting a double-digit growth.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=5352498The in-house services segment, in market by sourcing type, of the testing, inspection and certification market is projected to hold a larger share during the forecast periodIn-house testing services provide companies complete control over the entire process.
To perform in-house TIC activities, a company must build in-house capabilities in terms of technology, testing and measurement equipment, and skilled personnel.
It ensures greater consumer satisfaction with safer products, helps government agencies improve efficiencies and manage their market surveillance resources.
In a highly regulated marketplace, manufacturing and retailing activities are no longer limited to producing and selling goods.
According to the new research report "Testing, Inspection, and Certification (TIC) Market by Service Type (Testing, Inspection, Certification), Sourcing Type (In-house and Outsourced), Application (Consumer Goods & Retail, Agriculture & Food, Chemicals), and Geography - Global Forecast to 2023", the testing, inspection and certification (TIC) market is expected to be worth USD 247.94 Billion by 2023, at a CAGR of 5.02% from USD 184.77 Billion in 2017.
The growth of this market is mainly driven by 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.TIC market for testing services held the largest share in 2016There has been increase in number of product recalls due to faulty components and parts.
Such incidents are on rise than ever before due to use of sub-standard parts and materials.
Moreover, the electronics, capital goods, and luxury goods industry have to adhere to stringent quality standards, thereby increasing the need for testing services.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=5352498TIC market for outsourced services is expected to grow at the highest CAGR during the forecast periodMany large firms are increasingly outsourcing TIC services because the increased regulations make it costly to conduct test in-house, thereby helping the firms to reduce the overall cost of testing.
Demand for outsourcing TIC services to third-party vendors is increasing for applications such as consumer goods and manufacturing owing to the capital-intensive nature of in-house TIC activities.TIC market for transportation application held the largest share in 2016The transportation industry is subject to a variety of stringent regulations, standards, and legislations.
The transportation application includes automotive, marine, aerospace and defense, and rail.
The global automotive TIC market was valued at USD 16.9 billion in 2019 and is expected to reach USD 22.1 billion by 2024, at a CAGR of 5.5%.
Increasing automobile production in emerging economies, growing inclination toward outsourcing TIC services, rising focus of governments to impose strict regulatory standards on the automotive industry, surging adoption of automotive electronics to maintain passenger and vehicle safety, augmenting awareness among consumers regarding product quality and safety, and increasing instances of vehicle recalls due to component failures are the major factors propelling the automotive TIC market growth.The automotive industry is transforming at a faster rate owing to the development of cutting-edge technologies and stringent environmental regulatory policies.
This report on the automotive TIC market is a platform that explains applications, market trends, and varieties of TIC services, ranging from testing, inspection, and certification to auditing and quality control and assurance.
These services help automakers to improve their performance and products; ensure the reliability and integrity of their products, processes, assets, and systems; as well as mitigate risks while bolstering their brands.Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=175873215Among all service types, certification services are expected to witness the highest CAGR in the automotive TIC market during the forecast period.
In the current scenario, certification services are widely used by manufacturers to demonstrate if their products adhere to the government/regulatory mandates, as well as to improve the marketability of their offerings.Vehicle inspection services accounted for a majority share of the overall automotive TIC market in 2018.
DEKRA SE (Germany), a leader in vehicle inspection, expanded its inspection business in Denmark by acquiring AL-SYN ApS.
The automotive industry is transforming at a faster rate owing to the development of cutting-edge technologies and stringent environmental regulatory policies.
This report on the automotive TIC market is a platform that explains applications, market trends, and varieties of TIC services, ranging from testing, inspection, and certification to auditing and quality control and assurance.
These services help automakers to improve their performance and products; ensure the reliability and integrity of their products, processes, assets, and systems; as well as mitigate risks while bolstering their brands.Request Free Sample Report:https://www.marketsandmarkets.com/requestsampleNew.asp?id=175873215The global automotive TIC market is expected to grow from USD 16.5 billion in 2020 to USD 20.4 billion by 2025,at a CAGR of 4.3%.
Increasing automobile production in emerging economies, growing inclination toward outsourcing TIC services, rising focus of governments to impose strict regulatory standards on the automotive industry, surging adoption of automotive electronics to maintain passenger and vehicle safety, augmenting awareness among consumers regarding product quality and safety, and increasing instances of vehicle recalls due to component failures are the majorfactors propelling the automotive TIC market growth.
However, the global automotive industry is facing a slowdown due to the spread of coronavirus, resulting in disrupted supply chains, shut down of manufacturing, and decline in vehicle sales globally.
The decline in sales of vehicles has impacted the global automotive TIC market.Among all service types, certificationservicesareexpected to witness the highest CAGR in the automotive TIC marketduring the forecast period.
[175 Pages Report] The automotive TIC market is expected to increase from USD 18.13 billion in 2017 to USD 27.66 billion by 2023, at a CAGR of 7.23% from 2018 to 2023.The growth of this market is mainly driven by increasing automotive production worldwide, inclination toward outsourcing TIC services, vehicle recalls due to failure of components, and enforcement of stringent government regulations and standards in the automotive sector worldwide.Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=175873215Major players of the automotive TIC ecosystem in various regions have been identified and their offerings, regional presence, and distribution channels have been understood through the in-depth discussions for this study.
To find the overall market size, top-down and bottom-up approaches have been used to estimate the market size of other individual markets by using percentage splits obtained from the secondary sources, such as Hoovers, Bloomberg Business, Factiva, and OneSource, as well as primary research.Testing services accounted for a share larger than the other TIC services in the automotive TIC market, by service type in 2018.
Quality control is very important for automotive manufacturing operations and for additional safety, testing, and reporting measures, which require advanced test equipment and instruments in automotive manufacturing facilities and laboratories.
Testing services assist manufacturers in improving the marketability of their products and lowering costs in pre-production phases (R, selection of suppliers, etc.).
VIS is a pack of bundled services wherein new or used automobile go through a wide range of services such as inspection of electrical systems and components, interior & exterior materials and components, and other applications.
The automotive industry is subject to strict safety regulations in a few APAC countries such as Japan and South Korea; demands for passenger cars is also on the rise in these countries.
Testing, inspection, and certification (TIC) enhance manufacturing productivity, help manufactures to conform their products with global standards, and improve product quality.
A few key factors driving the market growth are the surge in global counterfeiting, the inclination toward outsourcing TIC services and developments in networking an communication technologies.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=106364638Major players in the Europe TIC market have primarily adopted strategies such as mergers, acquisitions, service launches, and service developments to strengthen their position in the market.SGS (Switzerland) acquired Inter-Basic Resources, Inc. (IBR) based in the US and the UK.
The acquisition helps SGS to broaden its services within non-woven materials, particularly filtration performance.
Moreover, SGS opened a state-of-the-art food testing laboratory in New Jersey, to provide services such as food pathogen testing - DNA and protein-based detection methods, rapid food microbiological indicator testing, food hygiene testing.Bureau Veritas (France) expanded its service portfolio, dedicated to flight data analysis, based on Ergoss's SARA software.
Additionally, Bureau Veritas partnered with Cornis (Paris), a leading provider for blade technology, to offer advanced Blade Inspection services for wind turbines.Eurofins Scientific (Luxembourg) acquired Transplant Genomics Inc. to improve its transplantation testing skills, which, in turn, would improve its diagnostic reliability and reduce the rejection risks.
Eurofins Scientific partnered with Signify to provide a broad range of analytical services, including materials characterization, chemical compatibility, imaging and reliability services, to support product innovation and improvement, troubleshooting and quality control activities for a range of customers in healthcare, lighting, and other high-tech industries.SGS Group (Switzerland) is a market leader and provides testing, inspection, verification, certification, and quality assurance services globally.
The Automotive TIC Market with COVID-19 impact is expected to grow from USD 16.5 billion in 2020 to USD 20.4 billion by 2025, at a CAGR of 4.3%.The growth of the automotive TIC market can be attributed to the increasing automobile production in emerging economies, growing inclination toward outsourcing TIC services, rising focus of governments to impose strict regulatory standards on the automotive industry, surging adoption of automotive electronics to maintain passenger and vehicle safety, augmenting awareness among consumers regarding product quality and safety, and increasing instances of vehicle recalls due to component failures.
It is a technical inspection service provided by TIC companies for commercial vehicles (commercial van and truck fleets; heavy and mid-duty trucks; tractors; trailers; construction equipment; forklifts) and passenger vehicles (cars, motorcycles, pick-up trucks, boats and recreational trailers, all-terrain vehicles (ATVs), and recreational vehicles (RVs)).
Used vehicle inspection is another innovative approach that can be employed if a vehicle is returned with damage beyond expectations (excessive wear and tear), which drastically impacts its resale value.
It is verified by the Vehicle Inspection Management System (VIMS), which takes the entire inspection process into consideration and provides a detailed cost analysis of every fault in the car.In-house automotive TIC service market for electric vehicles, hybrid electric vehicles, and battery systems is expected to grow at highest CAGR during forecast periodIn automotive applications, in-house testing for electronic control units (ECUs) and other core components is done by automakers at their manufacturing facilities.
They are collaborating with public bodies and organizations including customs, competition authorities, and industrial health and safety authorities for conducting activities related to quality control and assurance.
The market for electric vehicles is rapidly growing owing to factors such as increasing urbanization, growing demand for global hybrid vehicles, rising car sales in emerging markets, surging demand for air-conditioning systems with improved efficiency, and declining battery prices.
The automotive industry is transforming at a faster rate owing to the development of cutting-edge technologies and stringent environmental regulatory policies.
This report on the automotive TIC market is a platform that explains applications, market trends, and varieties of TIC services, ranging from testing, inspection, and certification to auditing and quality control and assurance.
These services help automakers to improve their performance and products; ensure the reliability and integrity of their products, processes, assets, and systems; as well as mitigate risks while bolstering their brands.Request Free Sample Report:https://www.marketsandmarkets.com/requestsampleNew.asp?id=175873215The global automotive TIC market is expected to grow from USD 16.5 billion in 2020 to USD 20.4 billion by 2025,at a CAGR of 4.3%.
Increasing automobile production in emerging economies, growing inclination toward outsourcing TIC services, rising focus of governments to impose strict regulatory standards on the automotive industry, surging adoption of automotive electronics to maintain passenger and vehicle safety, augmenting awareness among consumers regarding product quality and safety, and increasing instances of vehicle recalls due to component failures are the majorfactors propelling the automotive TIC market growth.
However, the global automotive industry is facing a slowdown due to the spread of coronavirus, resulting in disrupted supply chains, shut down of manufacturing, and decline in vehicle sales globally.
The decline in sales of vehicles has impacted the global automotive TIC market.Among all service types, certificationservicesareexpected to witness the highest CAGR in the automotive TIC marketduring the forecast period.
Testing, inspection, and certification (TIC) enhance manufacturing productivity, help manufactures to conform their products with global standards, and improve product quality.
A few key factors driving the market growth are the surge in global counterfeiting, the inclination toward outsourcing TIC services and developments in networking an communication technologies.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=106364638Major players in the Europe TIC market have primarily adopted strategies such as mergers, acquisitions, service launches, and service developments to strengthen their position in the market.SGS (Switzerland) acquired Inter-Basic Resources, Inc. (IBR) based in the US and the UK.
The acquisition helps SGS to broaden its services within non-woven materials, particularly filtration performance.
Moreover, SGS opened a state-of-the-art food testing laboratory in New Jersey, to provide services such as food pathogen testing - DNA and protein-based detection methods, rapid food microbiological indicator testing, food hygiene testing.Bureau Veritas (France) expanded its service portfolio, dedicated to flight data analysis, based on Ergoss's SARA software.
Additionally, Bureau Veritas partnered with Cornis (Paris), a leading provider for blade technology, to offer advanced Blade Inspection services for wind turbines.Eurofins Scientific (Luxembourg) acquired Transplant Genomics Inc. to improve its transplantation testing skills, which, in turn, would improve its diagnostic reliability and reduce the rejection risks.
Eurofins Scientific partnered with Signify to provide a broad range of analytical services, including materials characterization, chemical compatibility, imaging and reliability services, to support product innovation and improvement, troubleshooting and quality control activities for a range of customers in healthcare, lighting, and other high-tech industries.SGS Group (Switzerland) is a market leader and provides testing, inspection, verification, certification, and quality assurance services globally.
According to a research report "Testing, Inspection and Certification Market with COVID-19 Impact Analysis by Service Type (Testing, Inspection, Certification), Sourcing Type (In-House, Outsourcing), Application and Geography - Global Forecast to 2026" published by MarketsandMarkets, the testing, inspection and certification market is projected to reach USD 249.4 billion by 2026 from USD 207.2 billion in 2021; it is expected to grow at a CAGR of 3.8% from 2021 to 2026.
Globalization has led to the standardization of products and goods used in the food & beverages, electronics, and automotive industries.
TIC players are increasing their horizon by setting up their testing labs in APAC countries as the potential of APAC countries in applications such as consumer electronics and goods, automobiles, renewable energy solutions is depicting a double-digit growth.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=5352498The in-house services segment, in market by sourcing type, of the testing, inspection and certification market is projected to hold a larger share during the forecast periodIn-house testing services provide companies complete control over the entire process.
To perform in-house TIC activities, a company must build in-house capabilities in terms of technology, testing and measurement equipment, and skilled personnel.
It ensures greater consumer satisfaction with safer products, helps government agencies improve efficiencies and manage their market surveillance resources.
In a highly regulated marketplace, manufacturing and retailing activities are no longer limited to producing and selling goods.
According to the new research report "Testing, Inspection, and Certification (TIC) Market by Service Type (Testing, Inspection, Certification), Sourcing Type (In-house and Outsourced), Application (Consumer Goods & Retail, Agriculture & Food, Chemicals), and Geography - Global Forecast to 2023", the testing, inspection and certification (TIC) market is expected to be worth USD 247.94 Billion by 2023, at a CAGR of 5.02% from USD 184.77 Billion in 2017.
The growth of this market is mainly driven by 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.TIC market for testing services held the largest share in 2016There has been increase in number of product recalls due to faulty components and parts.
Such incidents are on rise than ever before due to use of sub-standard parts and materials.
Moreover, the electronics, capital goods, and luxury goods industry have to adhere to stringent quality standards, thereby increasing the need for testing services.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=5352498TIC market for outsourced services is expected to grow at the highest CAGR during the forecast periodMany large firms are increasingly outsourcing TIC services because the increased regulations make it costly to conduct test in-house, thereby helping the firms to reduce the overall cost of testing.
Demand for outsourcing TIC services to third-party vendors is increasing for applications such as consumer goods and manufacturing owing to the capital-intensive nature of in-house TIC activities.TIC market for transportation application held the largest share in 2016The transportation industry is subject to a variety of stringent regulations, standards, and legislations.
The transportation application includes automotive, marine, aerospace and defense, and rail.
The global automotive TIC market was valued at USD 16.9 billion in 2019 and is expected to reach USD 22.1 billion by 2024, at a CAGR of 5.5%.
Increasing automobile production in emerging economies, growing inclination toward outsourcing TIC services, rising focus of governments to impose strict regulatory standards on the automotive industry, surging adoption of automotive electronics to maintain passenger and vehicle safety, augmenting awareness among consumers regarding product quality and safety, and increasing instances of vehicle recalls due to component failures are the major factors propelling the automotive TIC market growth.The automotive industry is transforming at a faster rate owing to the development of cutting-edge technologies and stringent environmental regulatory policies.
This report on the automotive TIC market is a platform that explains applications, market trends, and varieties of TIC services, ranging from testing, inspection, and certification to auditing and quality control and assurance.
These services help automakers to improve their performance and products; ensure the reliability and integrity of their products, processes, assets, and systems; as well as mitigate risks while bolstering their brands.Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=175873215Among all service types, certification services are expected to witness the highest CAGR in the automotive TIC market during the forecast period.
In the current scenario, certification services are widely used by manufacturers to demonstrate if their products adhere to the government/regulatory mandates, as well as to improve the marketability of their offerings.Vehicle inspection services accounted for a majority share of the overall automotive TIC market in 2018.
DEKRA SE (Germany), a leader in vehicle inspection, expanded its inspection business in Denmark by acquiring AL-SYN ApS.
[175 Pages Report] The automotive TIC market is expected to increase from USD 18.13 billion in 2017 to USD 27.66 billion by 2023, at a CAGR of 7.23% from 2018 to 2023.The growth of this market is mainly driven by increasing automotive production worldwide, inclination toward outsourcing TIC services, vehicle recalls due to failure of components, and enforcement of stringent government regulations and standards in the automotive sector worldwide.Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=175873215Major players of the automotive TIC ecosystem in various regions have been identified and their offerings, regional presence, and distribution channels have been understood through the in-depth discussions for this study.
To find the overall market size, top-down and bottom-up approaches have been used to estimate the market size of other individual markets by using percentage splits obtained from the secondary sources, such as Hoovers, Bloomberg Business, Factiva, and OneSource, as well as primary research.Testing services accounted for a share larger than the other TIC services in the automotive TIC market, by service type in 2018.
Quality control is very important for automotive manufacturing operations and for additional safety, testing, and reporting measures, which require advanced test equipment and instruments in automotive manufacturing facilities and laboratories.
Testing services assist manufacturers in improving the marketability of their products and lowering costs in pre-production phases (R, selection of suppliers, etc.).
VIS is a pack of bundled services wherein new or used automobile go through a wide range of services such as inspection of electrical systems and components, interior & exterior materials and components, and other applications.
The automotive industry is subject to strict safety regulations in a few APAC countries such as Japan and South Korea; demands for passenger cars is also on the rise in these countries.
The Automotive TIC Market with COVID-19 impact is expected to grow from USD 16.5 billion in 2020 to USD 20.4 billion by 2025, at a CAGR of 4.3%.The growth of the automotive TIC market can be attributed to the increasing automobile production in emerging economies, growing inclination toward outsourcing TIC services, rising focus of governments to impose strict regulatory standards on the automotive industry, surging adoption of automotive electronics to maintain passenger and vehicle safety, augmenting awareness among consumers regarding product quality and safety, and increasing instances of vehicle recalls due to component failures.
It is a technical inspection service provided by TIC companies for commercial vehicles (commercial van and truck fleets; heavy and mid-duty trucks; tractors; trailers; construction equipment; forklifts) and passenger vehicles (cars, motorcycles, pick-up trucks, boats and recreational trailers, all-terrain vehicles (ATVs), and recreational vehicles (RVs)).
Used vehicle inspection is another innovative approach that can be employed if a vehicle is returned with damage beyond expectations (excessive wear and tear), which drastically impacts its resale value.
It is verified by the Vehicle Inspection Management System (VIMS), which takes the entire inspection process into consideration and provides a detailed cost analysis of every fault in the car.In-house automotive TIC service market for electric vehicles, hybrid electric vehicles, and battery systems is expected to grow at highest CAGR during forecast periodIn automotive applications, in-house testing for electronic control units (ECUs) and other core components is done by automakers at their manufacturing facilities.
They are collaborating with public bodies and organizations including customs, competition authorities, and industrial health and safety authorities for conducting activities related to quality control and assurance.
The market for electric vehicles is rapidly growing owing to factors such as increasing urbanization, growing demand for global hybrid vehicles, rising car sales in emerging markets, surging demand for air-conditioning systems with improved efficiency, and declining battery prices.