Testing, Inspection, & Certification Market by Service Type, Source, Vertical

Description

List of Tables

[183 Pages Report] The Testing, Inspection, & Certification Market size was estimated at USD 239.71 billion in 2023 and expected to reach USD 257.07 billion in 2024, at a CAGR 7.78% to reach USD 405.11 billion by 2030.

Testing, inspection, and certification (TIC) include various services to assess and verify the quality, safety, compliance, and performance of products, systems, processes, and services. TIC providers offer expertise in evaluating various parameters, including product functionality, performance, durability, safety, regulatory compliance, and environmental impact. Increasing stringent regulations across various industries, such as manufacturing, healthcare, automotive, aerospace, and food safety, drive the demand for TIC services. The evolution of international trade and globalization has created a need for TIC services to ensure that products meet different countries' regulatory requirements. The high cost of TIC services, as they are resource-intensive and involve complex testing procedures, inspections, and audits, hampers the market growth. The ongoing digital transformation across industries presents opportunities for TIC companies to offer digital solutions such as remote inspections, virtual audits, and data analytics.

KEY MARKET STATISTICS
Base Year [2023]	USD 239.71 billion
Estimated Year [2024]	USD 257.07 billion
Forecast Year [2030]	USD 405.11 billion
CAGR (%)	7.78%

Service Type: Growing advancements in testing solutions with enhanced functionality and efficiency

Certification involves assessing and verifying products, processes, systems, and services against specified standards, regulations, and industry best practices. TIC companies provide certification services to confirm that a product and service meets the required criteria. This includes evaluating product quality, safety, environmental impact, and compliance with specific standards and regulations. Inspection services examine and evaluate products, assets, facilities, and processes to ensure compliance with standards, regulations, and customer requirements. TIC companies conduct inspections to verify the quality, safety, and adherence to specific product and system requirements. Testing services involve conducting laboratory and on-site tests to assess the performance, safety, functionality, and compliance of products, materials, and systems. TIC companies perform tests to validate that a product or material meets the required standards and specifications.

Source: Growing preference for outsourced TIC services to leverage external expertise and resources

In-house TIC includes organizations with internal departments performing testing, inspection, and certification activities. These organizations have invested resources, equipment, and expertise to conduct TIC services internally. Outsourced TIC involves organizations engaging external service providers or third-party TIC companies to conduct testing, inspection, and certification activities on their behalf. Outsourcing TIC services allows organizations to leverage external providers' expertise, resources, and specialized equipment. In-house TIC allows organizations to have direct control over the process and timing of TIC activities. Outsourced TIC provides access to external expertise and resources, permitting organizations to focus on their core competencies while relying on TIC service providers' specialized knowledge and capabilities.

Regional Insights

Growing regulatory requirements and quality assurance needs are expanding the scope of TIC services in the Americas, APAC, and Europe. The Americas region has a complex regulatory landscape with varying requirements across countries and industries. The U.S. Food and Drug Administration (FDA), Environmental Protection Agency (EPA), and Occupational Safety and Health Administration (OSHA) are some of the regulatory authorities in the region that introduce rules and regulations associated with the manufacturing, commercialization, and usage of several products and services. The expanding industrial sectors, such as manufacturing, automotive, electronics, healthcare, and construction, contribute to the increasing demand for TIC services in Asia-Pacific to ensure compliance with quality, safety, and environmental standards. The increasing adoption of advanced and novel technologies such as artificial intelligence, 5G, the Internet of Things, and robotics in the Americas and Europe is expected to expand the adoption of TIC services for software testing, conformity assessment, and validation of emerging technologies.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Testing, Inspection, & Certification Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Testing, Inspection, & Certification Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Testing, Inspection, & Certification Market, highlighting leading vendors and their innovative profiles. These include ALS Limited, Applus Services SA, ATIC (Guangzhou) Co., Ltd., Bureau Veritas SA, CESI S.p.A, Combined Selection Group Ltd., CSA Group, Dekra SE, DNV AS, Element Materials Technology Group Limited, Eurofins Scientific SE, IFS Aktiebolag, Intertek Group PLC, Kiwa NV, LabWare, Inc., Medistri SA, Mistras Group, Inc., Riverside Company, SGS SA, Spinnsol, Super.AI Inc., TUV Nord AG, TUV Rheinland Group, TUV SUD, and UL LLC.

Market Segmentation & Coverage

This research report categorizes the Testing, Inspection, & Certification Market to forecast the revenues and analyze trends in each of the following sub-markets:

Service Type
- Certification
- Inspection
- Testing

Source
- In-House
- Outsourced

Vertical
- Aerospace & Defense
- Automotive & Transportation
- Chemicals & Materials
- Consumer Goods & Retail
- Energy & Natural Resources
- Food & Beverage
- Healthcare & Life Sciences
- Manufacturing & Construction
- Telecommunications & Computing

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Testing, Inspection, & Certification Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Testing, Inspection, & Certification Market?

3. What are the technology trends and regulatory frameworks in the Testing, Inspection, & Certification Market?

4. What is the market share of the leading vendors in the Testing, Inspection, & Certification Market?

5. Which modes and strategic moves are suitable for entering the Testing, Inspection, & Certification Market?

Product Code: MRR-43676CF42B26

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing expansion of international trade owing to the globalization and digitalization
  - 5.1.1.2. RIsing growth of the transportation and logistics sector
  - 5.1.1.3. Increasing emphasis on quality, safety, and risk management across industries
- 5.1.2. Restraints
  - 5.1.2.1. Concerns related to quality checks of complicated products
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of technologically advanced testing, inspection, & certification solutions
  - 5.1.3.2. Increased outsourcing of testing, inspection, & certification services
- 5.1.4. Challenges
  - 5.1.4.1. Presence of fraud activities and limited availability of certified/trained inspectors
5.2. Market Segmentation Analysis
- 5.2.1. Service Type: Growing advancements in testing solutions with enhanced functionality and efficiency
- 5.2.2. Source: Growing preference for outsourced TIC services to leverage external expertise and resources
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Testing, Inspection, & Certification Market, by Service Type

6.1. Introduction
6.2. Certification
6.3. Inspection
6.4. Testing

7. Testing, Inspection, & Certification Market, by Source

7.1. Introduction
7.2. In-House
7.3. Outsourced

8. Testing, Inspection, & Certification Market, by Vertical

8.1. Introduction
8.2. Aerospace & Defense
8.3. Automotive & Transportation
8.4. Chemicals & Materials
8.5. Consumer Goods & Retail
8.6. Energy & Natural Resources
8.7. Food & Beverage
8.8. Healthcare & Life Sciences
8.9. Manufacturing & Construction
8.10. Telecommunications & Computing

9. Americas Testing, Inspection, & Certification Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Testing, Inspection, & Certification Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Testing, Inspection, & Certification Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. KKR Forms New Test and Inspection Platform
- 12.3.2. RMA Announces the Acquisition of Prior Testing Services
- 12.3.3. Cotecna and Tinamu Partner to Offer Smarter Digital Warehouse Inspections
- 12.3.4. ASI LLC Joins Kiwa Group to Expand Food, Feed & Farm Certifications in the United States
- 12.3.5. Oakley Capital Invests in TICC Platform, Phenna Group
- 12.3.6. Element Launches Matter Testing for Smart Home Devices
- 12.3.7. ACTS Launches A Comprehensive Car Inspection Program Across The Gulf Countries
- 12.3.8. Element Materials Technology Acquires National Technical Systems
- 12.3.9. Acquisition of Galbraith Laboratories Inc., a U.S. Expert in Healthcare Analytical Testing Solutions
- 12.3.10. CTI Launches New Product & Material Certification Program

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio