Testing, Inspection and Certification Market

Testing, Inspection and Certification Market by Service (Testing, Inspection, Certification), Sourcing Type (In-House and Outsourced), Application (Consumer Goods and Retail, Construction and Infrastructure), and Geography - Global Forecast to 2024

Report Code: SE 3611 Mar, 2019, by marketsandmarkets.com

[248 Pages Report] The overall testing, inspection, and certification (TIC) market is expected to grow from USD 209.4 billion in 2019 to USD 266.2 billion by 2024—growing at a CAGR of 4.91%. The growth of this market is being fueled by the increase in disposable income and rapid urbanization in developing economies; high growth in product recalls across the world; high adoption of outsourcing service models by worldwide manufacturers; increased requirement for harmonized standards; surge in illicit trading, counterfeiting, and piracy practices across the world; and enforcement of rigorous government regulations and standards across various sectors.

Testing Inspection and Certification (TIC) Market

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Client’s Problem Statement

Our client, a prominent TIC players in the Middle East region, was keen to enter the flow meter TIC business in Saudi Arabia. Client was interested to identify exisiting market opportunities in KSA and prominent flow meter testing methods being deployed across the country. Understanding for how the market could be met through collaborations or partnerships with other key players in the country was also an agenda to be discussed within the study.

MnM Approach

MNM started by identifying key disruptive technology trends that were changing the revenue mix of our client’s clients across different application areas such as Chemicals, Energy & Power, Medical and Life Sciences, Mining, Oil & Gas and Petroleum, Food & Beverages, and Water & Wastewater across Saudi Arabia. MNM also interviewed a host of potential customers in these applications to understand their unmet needs, possible use cases & perform demand-side analysis from these application areas.
This helped the company to assess the market potential & high impact use cases of testing, inspection, and certification for the flow meters across these applications. Further, MNM also helped the client build an understanding of the competitive landscape, varying business models & strategies of different players in Saudi Arabia’s flow meter TIC ecosystem. This helped them devise a differentiated service offering & forge suitable alliances to help them win in this market.

Revenue Impact (RI)

Our work resulted in the client tapping into a `$2.5 Bn TIC market, with a projected revenue of `$35 Mn of flow meter TIC services for flow meter in 5 years from our recommendations.

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“The market for certification services is expected to grow at the highest rate during the forecast period”

In the TIC ecosystem, certification services validate the result of a test or inspection against a range of pre-specified standards set by governments, international standardization institutions, or clients. In the current scenario, certification services are widely adopted by manufacturers to demonstrate that their products adhere to the compliance, as well as to improve their marketability. Certification services also encompass the certification of systems and processes (e.g., ISO 9000 Quality Management System and ISO 14000 Environmental Management System or Code of Conduct). As global markets grow and expand, many consumers prefer safe, reliable, and eco-friendly products, which are validated by certifications.

 “The consumer goods and retails application is expected to hold the largest market share during the forecast period”

The growth of the TIC market for the consumer goods and retail application is driven by the increasing need for TIC services in personal care and beauty products, hard goods, softlines and accessories, toys and juvenile products, and electrical and electronics, among others. There is a significant demand for inspection, testing, training, and quality assurance solutions for cosmetic, beauty, and personal care products. Different brands, retailers, manufacturers, and importers need to ensure product safety and acceptability across the supply chain. TIC service providers are expanding their services owing to the increasing demand for TIC services from the textile and footwear sectors in emerging markets.

Testing Inspection and Certification (TIC) Market

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“APAC is expected to account for the largest market share during the forecast period”

The growth of the testing, inspection, and certification (TIC) market in APAC is driven by a combination of regulatory and economic factors. As consumers are increasingly becoming aware of the importance of certified products, manufacturers are certifying their products and services to gain the trust of customers. Moreover, investments in new technologies are sizeable and are likely to continue growing on the back of the rising global competition. Furthermore, the governments of different countries in APAC are encouraging investments by private players in the technology sector, which would lead to the increased use of independent testing and certification services.

Key Market Players

SGS Group (Switzerland), Bureau Veritas SA (France), Intertek (UK), and TÜV SÜD Group (Germany), Eurofins Scientific (Luxembourg), DNV GL (Norway), TÜV Rheinland Group (Germany), Applus+ (Spain), ALS Limited (Australia), TÜV NORD Group (Germany), Lloyd’s Register Group Limited (UK), MISTRAS (US), Element Materials Technology (UK), and UL LLC (US) are a few companies operating in the global TIC market.

SGS Group provides a range of audit services for processes, organizations, services, and systems; certification services enabling customers to demonstrate that their products, processes, systems, or services comply with the national and international regulations and standards; and inspection services reduce product damage and financial risks, control quality and quantity, and meet relevant regulatory requirements in various regional markets. With its global business services strategy, the company seeks to simplify, streamline, and optimize the processes and systems of its back-office departments, as well as leverage the best practices across its internal business services. The company is targeting its growth in North America and China. Moreover, to foster its organic growth, SGS Group is acquiring other companies and establishing partnerships with state-owned stakeholders with the necessary regulatory permissions and licenses, which would allow it to leverage their national and global networks, thereby giving it an early mover advantage.

Scope of the Report

Report Metric

Details

Market size available for years

2016–2024

  Base year considered

2018

  Forecast period

2019–2024

  Forecast units

Value (USD)

  Segments covered

Service Type, Sourcing Type, Application, and Region

  Geographies covered

North America, Europe, APAC, and RoW

  Companies covered

SGS Group (Switzerland), Bureau Veritas SA (France), Intertek (UK), and TÜV SÜD Group (Germany), Eurofins Scientific (Luxembourg), DNV GL (Norway), TÜV Rheinland Group. 25 major players are covered.

This research report categorizes the TIC market based on service type, sourcing type, application, and region.

TIC Market, by Service Type:

  • Testing
  • Inspection
  • Certification
  • Others

TIC Market, by Sourcing Type:

  • In-House Services
  • Outsourced Services

TIC Market, by Application:

  • Consumer Goods and Retail
  • Agriculture and Food
  • Chemicals
  • Construction and Infrastructure
  • Energy and Power
  • Industrial and Manufacturing
  • Medical and Life Science
  • Oil & Gas and Petroleum
  • Public Sector
  • Automotive
  • Aerospace
  • Marine
  • Rail
  • Supply Chain and Logistics
  • IT and Telecom
  • Sports and Entertainment

TIC Market, by Region:

  • North America
  • Europe
  • Asia Pacific
  • RoW

Recent Developments

  • In February 2019, SGS acquired Floriaan B.V. (Netherlands), which provides fire safety services to the industrial and real estate companies to address complex safety challenges.
  • In December 2018, MISTRAS acquired Onstream Pipeline Inspection Services, Inc. (US) that offers a leading, proprietary, technology-enabled pipeline inspection and data analytics platform.
  • In August 2018, Intertek acquired Alchemy Investment Holdings, Inc. (US), a leading provider of people assurance solutions for the food industry. The acquisition complements Intertek’s current global assurance offerings.

Key questions addressed in the report

  • Where will all the developments take the industry in the mid to long term?
  • Who are the key players, and what are the strategies adopted by them?
  • What are the fastest- or highest-growing areas in the TIC market?
  • What are major drivers, restraints, opportunities, and challenges pertaining to the TIC market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 21)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Market Scope
           1.3.2 Markets Covered
           1.3.3 Geographic Scope
           1.3.4 Years Considered
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 25)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Limitations
    2.5 Research Assumptions

3 Executive Summary (Page No. - 34)

4 Premium Insights (Page No. - 39)
    4.1 Lucrative Opportunities in TIC Market
    4.2 TIC Market, By Sourcing Type
    4.3 Testing, Inspection, and Certification Market, By Service Type
    4.4 TIC Market in APAC, By Application and Service Type
    4.5 Testing, Inspection, and Certification Market, By Country

5 Market Overview (Page No. - 43)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increase in Disposable Income and Rapid Urbanization in Developing Economies
                    5.2.1.2 High Growth in Product Recalls Across the World
                    5.2.1.3 High Adoption of Outsourcing Service Model By Worldwide Manufacturers
                    5.2.1.4 Increased Requirement for Harmonized Standards
                    5.2.1.5 Surge in Illicit Trading, Counterfeiting, and Piracy Practices Across the World
                    5.2.1.6 Enforcement of Rigorous Government Regulations and Standards Across Various Sectors
           5.2.2 Restraint
                    5.2.2.1 Diverse Standards and Regulations Across Geographies
           5.2.3 Opportunities
                    5.2.3.1 Growth Opportunities for Small- and Medium-Sized Businesses in the TIC Ecosystem
                    5.2.3.2 Consolidation of Fragmented Markets
           5.2.4 Challenges
                    5.2.4.1 Complex Nature of Global Supply Chains
                    5.2.4.2 Long Lead Time for Overseas Qualification Assessments

6 Industry Trends (Page No. - 50)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Core Industry Segments for Overall TIC Market
                    6.3.1.1 TIC Standards and Regulatory Bodies
                    6.3.1.2 Companies Offering TIC Services
                    6.3.1.3 End-User Industries
    6.4 Key Industry Trends
    6.5 Pest Analysis
           6.5.1 Political Factors
           6.5.2 Economic Factors
           6.5.3 Social Factors
           6.5.4 Technological Factors

7 TIC Market, By Service Type (Page No. - 56)
    7.1 Introduction
    7.2 Testing
    7.3 Inspection
    7.4 Certification
    7.5 Others

8 TIC Market, By Sourcing Type (Page No. - 60)
    8.1 Introduction
    8.2 In-House Services
    8.3 Outsourced Services

9 TIC Market, By Application (Page No. - 63)
    9.1 Introduction
    9.2 Consumer Goods and Retail
           9.2.1 Personal Care and Beauty Products
           9.2.2 Hard Goods
           9.2.3 Softlines and Accessories
           9.2.4 Toys and Juvenile Products
           9.2.5 Electrical and Electronics
           9.2.6 Others
    9.3 Agriculture and Food
           9.3.1 Seeds and Crops
           9.3.2 Fertilizers
           9.3.3 Commodities
           9.3.4 Food
           9.3.5 Forestry
           9.3.6 Others
    9.4 Chemicals
           9.4.1 Asset Integrity Management Services
           9.4.2 Project Lifecycle Services
           9.4.3 Finished Product Services
           9.4.4 Chemical Feedstocks Services
           9.4.5 Others
    9.5 Construction and Infrastructure
           9.5.1 Project Management
           9.5.2 Material Services
           9.5.3 Construction Machinery and Equipment Services
           9.5.4 Facilities Management and Inspection Services
           9.5.5 Others
    9.6 Energy & Power
           9.6.1 Energy Sources
                    9.6.1.1 Nuclear
                    9.6.1.2 Wind
                    9.6.1.3 Solar
                    9.6.1.4 Alternative Fuels
                    9.6.1.5 Fuel Oils and Gases
                    9.6.1.6 Coal
           9.6.2 Power Generation
           9.6.3 Power Distribution
           9.6.4 Asset Integrity Management Services
           9.6.5 Project Lifecycle Services
           9.6.6 Others
    9.7 Industrial and Manufacturing
           9.7.1 Supplier-Related Services
           9.7.2 Production- and Product-Related Services
           9.7.3 Project-Related Services
           9.7.4 Others
    9.8 Medical and Life Sciences
           9.8.1 Medical Devices
           9.8.2 Health, Beauty, and Wellness
           9.8.3 Clinical Services
           9.8.4 Laboratory Services
           9.8.5 Biopharmaceutical and Pharmaceutical Services
           9.8.6 Others
    9.9 Mining
           9.9.1 Inspection and Sampling Services
           9.9.2 Analytical Services
           9.9.3 Exploration Services
           9.9.4 Metallurgy and Process Design Services
           9.9.5 Production and Plant Services
           9.9.6 Site Operations and Closure Services
           9.9.7 Project Risk Assessment and Mitigation Services
    9.10 Oil & Gas and Petroleum
           9.10.1 Upstream
           9.10.2 Downstream
           9.10.3 Biofuels and Feedstock
           9.10.4 Petrochemicals
           9.10.5 Asset Integrity Management Services
           9.10.6 Project Lifecycle Services
           9.10.7 Others
    9.11 Public Sector
           9.11.1 Product Conformity Assessment Services
           9.11.2 Monitoring Services
           9.11.3 Valuation Services
           9.11.4 Others
    9.12 Automotive
           9.12.1 Electrical Systems and Components
           9.12.2 Electric Vehicles, Hybrid Electric Vehicles, and Battery Systems
           9.12.3 Telematics
           9.12.4 Fuels, Fluids, and Lubricants
           9.12.5 Interior and Exterior Materials and Components
           9.12.6 Vehicle Inspection Services (VIS)
           9.12.7 Homologation Testing
           9.12.8 Others
    9.13 Aerospace
           9.13.1 Aerospace Manufacturing Services
           9.13.2 Aviation Management Services
           9.13.3 Others
    9.14 Marine
           9.14.1 Marine Fuel Systems and Component Services
           9.14.2 Ship Classification Services
           9.14.3 Marine Materials and Equipment Services
           9.14.4 Others
    9.15 Rail
           9.15.1 Rail Construction and Production Monitoring
           9.15.2 Infrastructure Management
           9.15.3 Others
    9.16 Supply Chain and Logistics
           9.16.1 Packaging & Handling
           9.16.2 Risk Management
           9.16.3 Others
    9.17 It and Telecom
           9.17.1 Telecom and It Infrastructure Equipment
           9.17.2 Modules and Devices
    9.18 Sports & Entertainment
           9.18.1 Sports Venues and Facilities
           9.18.2 Sporting Goods and Protective Equipment

10 Geographic Analysis (Page No. - 106)
     10.1 Introduction
     10.2 North America
             10.2.1 US
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 Germany
             10.3.2 UK
             10.3.3 France
             10.3.4 Italy
             10.3.5 Spain
             10.3.6 Belgium
             10.3.7 Russia
             10.3.8 Hungary
             10.3.9 Netherlands
             10.3.10 Poland
             10.3.11 Bulgaria
             10.3.12 Sweden
             10.3.13 Morocco
             10.3.14 Switzerland
             10.3.15 Norway
             10.3.16 Romania
             10.3.17 Greece
             10.3.18 RoE
     10.4 Asia Pacific
             10.4.1 China
             10.4.2 Japan
             10.4.3 India
             10.4.4 South Korea
             10.4.5 Australia
             10.4.6 Thailand
             10.4.7 Malaysia
             10.4.8 Indonesia
             10.4.9 Vietnam
             10.4.10 Taiwan
             10.4.11 Hong Kong
             10.4.12 Bangladesh
             10.4.13 Philippines
             10.4.14 RoAPAC
     10.5 Rest of the World
             10.5.1 South and Central America
                        10.5.1.1 South America
                                     10.5.1.1.1 Brazil
                                     10.5.1.1.2 Argentina
                                     10.5.1.1.3 Peru
                                     10.5.1.1.4 Czech Republic
                                     10.5.1.1.5 Chile
                                     10.5.1.1.6 Colombia
                                     10.5.1.1.7 Venezuela
                                     10.5.1.1.8 Rest of South America
                        10.5.1.2 Central America
             10.5.2 Middle East and Africa (MEA)
                        10.5.2.1 Saudi Arabia
                        10.5.2.2 Iran
                        10.5.2.3 Iraq
                        10.5.2.4 UAE
                        10.5.2.5 Qatar
                        10.5.2.6 Oman
                        10.5.2.7 Bahrain
                        10.5.2.8 South Africa
                        10.5.2.9 Rest of Middle East and Africa

11 Competitive Landscape (Page No. - 160)
     11.1 Overview
     11.2 Key Players in TIC Market
     11.3 Competitive Situations and Trends
             11.3.1 Acquisitions
             11.3.2 Expansions
             11.3.3 Service Launches
             11.3.4 Others

12 Company Profiles (Page No. - 169)
     12.1 Introduction
     12.2 Key Players
             12.2.1 SGS Group
                        12.2.1.1 Overview
                        12.2.1.2 Services Offered
                        12.2.1.3 Recent Development
                        12.2.1.4 SWOT Analysis
                        12.2.1.5 MnM View
             12.2.2 Bureau Veritas
                        12.2.2.1 Overview
                        12.2.2.2 Services Offered
                        12.2.2.3 Recent Development
                        12.2.2.4 SWOT Analysis
                        12.2.2.5 MnM View
             12.2.3 Intertek
                        12.2.3.1 Overview
                        12.2.3.2 Services Offered
                        12.2.3.3 Recent Developments
                        12.2.3.4 SWOT Analysis
                        12.2.3.5 MnM View
             12.2.4 Dekra Se
                        12.2.4.1 Overview
                        12.2.4.2 Services Offered
                        12.2.4.3 Recent Developments
                        12.2.4.4 SWOT Analysis
                        12.2.4.5 MnM View
             12.2.5 Eurofins Scientific
                        12.2.5.1 Overview
                        12.2.5.2 Services Offered
                        12.2.5.3 Recent Developments
                        12.2.5.4 MnM View
             12.2.6 TUV SUD
                        12.2.6.1 Overview
                        12.2.6.2 Services Offered
                        12.2.6.3 Recent Developments
                        12.2.6.4 SWOT Analysis
                        12.2.6.5 MnM View
             12.2.7 DNV Gl
                        12.2.7.1 Overview
                        12.2.7.2 Services Offered
                        12.2.7.3 Recent Developments
                        12.2.7.4 MnM View
             12.2.8 TUV Rheinland
                        12.2.8.1 Overview
                        12.2.8.2 Services Offered
                        12.2.8.3 Recent Developments
                        12.2.8.4 MnM View
             12.2.9 Applus+
                        12.2.9.1 Overview
                        12.2.9.2 Services Offered
                        12.2.9.3 Recent Developments
                        12.2.9.4 MnM View
             12.2.10 ALS Limited
                        12.2.10.1 Overview
                        12.2.10.2 Services Offered
                        12.2.10.3 Recent Developments
                        12.2.10.4 MnM View
             12.2.11 TUV Nord Group
                        12.2.11.1 Overview
                        12.2.11.2 Services Offered
                        12.2.11.3 Recent Developments
                        12.2.11.4 MnM View
             12.2.12 Lloyd’s Register Group Limited
                        12.2.12.1 Overview
                        12.2.12.2 Services Offered
                        12.2.12.3 Recent Developments
                        12.2.12.4 MnM View
             12.2.13 Mistras
                        12.2.13.1 Overview
                        12.2.13.2 Services Offered
                        12.2.13.3 Recent Developments
                        12.2.13.4 MnM View
             12.2.14 Element Materials Technology
                        12.2.14.1 Overview
                        12.2.14.2 Services Offered
                        12.2.14.3 Recent Developments
                        12.2.14.4 MnM View
             12.2.15 Ul LLC
                        12.2.15.1 Overview
                        12.2.15.2 Services Offered
                        12.2.15.3 Recent Developments
                        12.2.15.4 MnM View
     12.3 Other Important Players and Associations
             12.3.1 Vde Testing Institute
             12.3.2 Keystone Compliance
             12.3.3 Washington Laboratories Ltd.
             12.3.4 Force Technology
             12.3.5 Kiwa Inspecta
             12.3.6 Rina S.P.A.
             12.3.7 Technická Inšpekcia
             12.3.8 Türk Loydu
             12.3.9 Safety Assessment Federation (SAFED)
             12.3.10 HV Technologies Inc.
     12.4 Key Innovators
             12.4.1 Avomeen Analytical Services
             12.4.2 Envigo
             12.4.3 Gateway Analytical
             12.4.4 Medistri Sa

13 Appendix (Page No. - 240)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details


List of Tables (79 Tables)

Table 1 Study Limitations
Table 2 Study Assumptions
Table 3 Comparison of Major Motor Vehicle Regulations in US and Eu
Table 4 Mergers and Acquisitions – Major Trend Among Key Market Players
Table 5 Testing, Inspection, and Certification Market, By Service Type, 2016–2024 (USD Billion)
Table 6 TIC Market, By Sourcing Type, 2016–2024 (USD Billion)
Table 7 TIC Market, By Application, 2016–2024 (USD Billion)
Table 8 Testing, Inspection, and Certification Market for Consumer Goods and Retail Applications, By Type, 2016–2024 (USD Billion)
Table 9 TIC Market for Agriculture and Food Applications, By Type, 2016–2024 (USD Billion)
Table 10 TIC Market for Chemicals Applications, By Type, 2016–2024 (USD Billion)
Table 11 TIC Market for Construction and Infrastructure Applications, By Type, 2016–2024 (USD Billion)
Table 12 TIC Market for Energy & Power Applications, By Type, 2016–2024 (USD Billion)
Table 13 TIC Market for Industrial and Manufacturing Applications, By Type, 2016–2024 (USD Billion)
Table 14 TIC Market for Medical and Life Sciences Applications, By Type, 2016–2024 (USD Billion)
Table 15 TIC Market for Mining Applications, By Type, 2016–2024 (USD Million)
Table 16 TIC Market for Oil & Gas and Petroleum Applications, By Type, 2016–2024 (USD Billion)
Table 17 Testing, Inspection, and Certification Market for Public Sector Applications, By Type, 2016–2024 (USD Million)
Table 18 TIC Market for Automotive Applications, By Type, 2016–2024 (USD Billion)
Table 19 TIC Market for Aerospace Applications, By Type, 2016–2024 (USD Billion)
Table 20 TIC Market for Marine Applications, By Type, 2016–2024 (USD Billion)
Table 21 TIC Market for Rail Applications, 2016–2024 (USD Billion)
Table 22 TIC Market for Supply Chain and Logistics Applications, By Type, 2016–2024 (USD Billion)
Table 23 TIC Market for It and Telecom Applications, By Type, 2016–2024 (USD Billion)
Table 24 TIC Market for Sports & Entertainment Applications, By Type, 2016–2024 (USD Billion)
Table 25 TIC Market, By Region, 2016–2024 (USD Billion)
Table 26 TIC Market in North America, By Country, 2016–2024 (USD Billion)
Table 27 TIC Market in US, By Application, 2016–2024 (USD Million)
Table 28 TIC Market in US, By Service Type, 2016–2024 (USD Billion)
Table 29 Testing, Inspection, and Certification Market in US, By Sourcing Type, 2016–2024 (USD Billion)
Table 30 TIC Market in Canada, By Application, 2016–2024 (USD Million)
Table 31 TIC Market in Canada, By Service Type, 2016–2024 (USD Billion)
Table 32 TIC Market in Canada, By Sourcing Type, 2016–2024 (USD Billion)
Table 33 TIC Market in Mexico, By Application, 2016–2024 (USD Million)
Table 34 TIC Market in Mexico, By Service Type, 2016–2024 (USD Billion)
Table 35 Testing, Inspection, and Certification Market in Mexico, By Sourcing Type, 2016–2024 (USD Billion)
Table 36 TIC Market in Europe, By Country, 2016–2024 (USD Million)
Table 37 TIC Market in Germany, By Application, 2016–2024 (USD Million)
Table 38 TIC Market in Germany, By Service Type, 2016–2024 (USD Billion)
Table 39 TIC Market in Germany, By Sourcing Type, 2016–2024 (USD Billion)
Table 40 TIC Market in UK, By Application, 2016–2024 (USD Million)
Table 41 TIC Market in UK, By Service Type, 2016–2024 (USD Billion)
Table 42 TIC Market in UK, By Sourcing Type, 2016–2024 (USD Billion)
Table 43 TIC Market in France, By Application, 2016–2024 (USD Million)
Table 44 TIC Market in France, By Service Type, 2016–2024 (USD Million)
Table 45 TIC Market in France, By Sourcing Type, 2016–2024 (USD Billion)
Table 46 TIC Market in Italy, By Application, 2016–2024 (USD Million)
Table 47 TIC Market in Italy, By Service Type, 2016–2024 (USD Million)
Table 48 TIC Market in Italy, By Sourcing Type, 2016–2024 (USD Billion)
Table 49 TIC Market in Spain, By Application, 2016–2024 (USD Million)
Table 50 Testing, Inspection, and Certification Market in Spain, By Service Type, 2016–2024 (USD Million)
Table 51 TIC Market in Spain, By Sourcing Type, 2016–2024 (USD Billion)
Table 52 TIC Market in APAC, By Country, 2016–2024 (USD Million)
Table 53 TIC Market in China, By Application, 2016–2024 (USD Million)
Table 54 TIC Market in China, By Service Type, 2016–2024 (USD Billion)
Table 55 TIC Market in China, By Sourcing Type, 2016–2024 (USD Billion)
Table 56 TIC Market in Japan, By Application, 2016–2024 (USD Million)
Table 57 TIC Market in Japan, By Service Type, 2016–2024 (USD Million)
Table 58 Testing, Inspection, and Certification Market in Japan, By Sourcing Type, 2016–2024 (USD Billion)
Table 59 TIC Market in India, By Application, 2016–2024 (USD Million)
Table 60 TIC Market in India, By Service Type, 2016–2024 (USD Million)
Table 61 TIC Market in India, By Sourcing Type, 2016–2024 (USD Billion)
Table 62 TIC Market in South Korea, By Application, 2016–2024 (USD Million)
Table 63 Testing, Inspection, and Certification Market in South Korea, By Service Type, 2016–2024 (USD Million)
Table 64 TIC Market in South Korea, By Sourcing Type, 2016–2024 (USD Billion)
Table 65 TIC Market in Australia, By Application, 2016–2024 (USD Million)
Table 66 TIC Market in Australia, By Service Type, 2016–2024 (USD Million)
Table 67 TIC Market in Australia, By Sourcing Type, 2016–2024 (USD Billion)
Table 68 TIC Market in RoW, By Country, 2016–2024 (USD Million)
Table 69 TIC Market in South and Central America, By Application, 2016–2024 (USD Million)
Table 70 Testing, Inspection, and Certification Market in South and Central America, By Service Type, 2016–2024 (USD Billion)
Table 71 TIC Market in South and Central America, By Sourcing Type, 2016–2024 (USD Billion)
Table 72 TIC Market in Middle East and Africa, By Application, 2016–2024 (USD Million)
Table 73 Testing, Inspection, and Certification Market in Middle East and Africa, By Service Type, 2016–2024 (USD Million)
Table 74 TIC Market in Middle East and Africa, By Sourcing Type, 2016–2024 (USD Billion)
Table 75 Top 5 Players in TIC Market, 2018
Table 76 Acquisitions (2017–2019)
Table 77 Expansions (2016–2018)
Table 78 Service Launches (2016–2018)
Table 79 Others (2017)


List of Figures(46 Figures)

Figure 1 TIC Market Segmentation
Figure 2 Process Flow of Market Size Estimation
Figure 3 Testing, Inspection, and Certification Market: Research Design
Figure 4 Data Triangulation Methodology
Figure 5 TIC Market, By Application, 2018 & 2024 (USD Billion)
Figure 6 Testing Services Likely to Hold Largest Market Share in 2019
Figure 7 Market for Outsourced TIC Services Likely to Grow at Highest CAGR During Forecast Period
Figure 8 APAC Led TIC Market in 2018
Figure 9 China Commanded TIC Market in Asia Pacific in 2018
Figure 10 Increasing Disposable Income and Rapid Urbanization in Emerging Economies Driving Growth of TIC Market
Figure 11 Market for Outsourced TIC Services to Grow at Higher CAGR During Forecast Period
Figure 12 Testing Services to Hold Major Market Share of TIC Market During Forecast Period
Figure 13 Consumer Goods and Retail Application Held Largest Share of TIC Market in APAC in 2019
Figure 14 Emerging Markets Such as China and India to Grow at High CAGR During 2019–2024
Figure 15 TIC Market Dynamics
Figure 16 Value Chain Analysis: TIC Market
Figure 17 TIC Market for Certification to Grow at Highest CAGR During Forecast Period
Figure 18 In-House Services to Dominate TIC Market, Based on Sourcing Type, During Forecast Period
Figure 19 Consumer Goods and Retail Application Accounted for Largest Size of Global TIC Market in 2018
Figure 20 Construction Machinery and Equipment Services Accounted for Largest Share of TIC Market for Construction and Infrastructure Application in 2018
Figure 21 Medical Devices Expected to Exhibit Fastest Growth in TIC Market for Medical and Life Sciences During Forecast Period
Figure 22 Vehicle Inspection Services Dominated Automotive TIC Market in 2018
Figure 23 Geographic Snapshot: Rapidly Growing Countries Such as India and China Emerging as Potentially New Markets
Figure 24 TIC Market in APAC to Grow at Highest CAGR During Forecast Period
Figure 25 Snapshot of TIC Market in North America
Figure 26 Snapshot of TIC Market in Europe
Figure 27 Testing Services to Hold Largest Size of TIC Market in Germany During Forecast Period
Figure 28 Snapshot of TIC Market in APAC
Figure 29 Testing Services to Hold Largest Size of TIC Market in India During Forecast Period
Figure 30 Snapshot of TIC Market in RoW
Figure 31 Companies Adopted Acquisitions as Key Growth Strategy During 2016–2019
Figure 32 Market Evolution Framework—Acquisition as Major Strategy Adopted By Key Players From 2016 to 2019
Figure 33 Battle for Market Share: Acquisition Was Key Strategy Adopted During 2016–2019
Figure 34 SGS Group: Company Snapshot
Figure 35 Bureau Veritas SA: Company Snapshot
Figure 36 Intertek: Company Snapshot
Figure 37 Dekra SE: Company Snapshot
Figure 38 Eurofins Scientific: Company Snapshot
Figure 39 TUV SUD: Company Snapshot
Figure 40 DNV GL: Company Snapshot
Figure 41 TUV Rheinland: Company Snapshot
Figure 42 Applus+: Company Snapshot
Figure 43 ALS Limited: Company Snapshot
Figure 44 TUV Nord Group: Company Snapshot
Figure 45 Lloyd’s Register Group Limited: Company Snapshot
Figure 46 Mistras: Company Snapshot

The study has involved 4 major activities in estimating the current market for testing, inspection, and certification (TIC). Exhaustive secondary research has been conducted to collect information on the market, peer market, and parent market. Validation of these findings and assumptions with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation procedures have been used to estimate the market size of each segment and subsegment.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet have been referred to for identifying and collecting information for this study. Secondary sources included annual reports, press releases, and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The Testing, Inspection, and Certification Market comprises several stakeholders, such as raw material and testing equipment suppliers, research organizations, original equipment manufacturers (OEMs), technology standards organizations, forums, alliances, and associations, technology investors, analysts and strategic business planners, and government bodies, venture capitalists, and private equity firms. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is as follows.

Testing Inspection and Certification (TIC) Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the TIC market. These methods have also been used extensively to estimate the size of various subsegments in the market. Following is the method to estimate the market size:

  • Major players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the estimation processes as explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • Describe and forecast the testing, inspection, and certification (TIC) market by service type, sourcing type, application, and geography in terms of value
  • Forecast the market size for various segments with regard to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • Provide detailed information regarding the drivers, restraints, opportunities, and challenges pertaining to the TIC market
  • Analyze the micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
  • Study the complete value chain and allied industry segments, as well as perform a value chain analysis of the TIC services landscape
  • Analyze opportunities in the market for various stakeholders by identifying high-growth segments of the TIC market
  • Profile key players and comprehensively analyze their market position in terms of revenue and core competencies
  • Analyze competitive developments such as service launches, partnerships, acquisitions, expansions, agreements, and research and development (R&D) in the TIC market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

  • Company Information: Detailed analysis and profiling of additional 5 market players
  • Market Sizing: Market size of additional countries as mentioned in the ToC, segmented on the basis of application, service, and sourcing
Report Code
SE 3611
Published ON
Mar, 2019
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