The global Management system certification market is expected to grow from USD 25.1 billion in 2021 to USD 32.5 billion by 2026, at a CAGR of 5.3%. Increasing demand for Management system certification products in healthcare and IT & telecommunications industry to drive the market.
Management system certification services help product manufacturers ensure if their products adhere to regulatory norms, improve product quality, and enhance production capacity. The management system certification market is likely to be worth USD 25.1 billion in 2021 and is expected to grow at a CAGR of 5.3% from 2021 to 2026. The market is experiencing growth due to the adoption of advanced technologies in the industrial, healthcare, and consumer electronics sectors and the introduction of new services and solutions such as virtual inspections, visual inspection, and remote auditing in the middle of the COVID-19 pandemic.
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A few key management system certification market players are SGS (Switzerland), Bureau Veritas (France), Intertek (UK), TÜV SÜD (Germany), Eurofins Scientific (Luxembourg), TÜV RHEINLAND (Germany), DEKRA (Germany), DNV GL (Norway), and Applus+ (Spain).
SGS Group is one of the leading players offering certification, verification, training, and business assurance services to ensure the compliance of products and services with national and international regulations and standards. Verification services offered by the company help avoiding and reducing product damage and financial risks, control product quality and production quantity, and meet relevant regulatory standards in various regional markets.
SGS Group is a world leader in management system certification. The company has a well-established geographic footprint and mainly deals with major OEMs/ODMs worldwide. It continues to lead in the development of new products in the MSC market. The company is also recognized for its premium and high-quality management system certification services. SGS Group has a wide geographic presence with offices across the world and focuses on launching innovative services in the management system certification market owing to its strong technical expertise in management system certification services. The company has a strong financial background and invests huge capital in R&D activities. The company focuses on providing advanced management system certification solutions for new use cases from automotive, infrastructure, and institutional applications.
Bureau Veritas is among the leading companies having a broad portfolio of management system certification services. The company offers high-quality services to industries such as construction and real estate, consumer goods, electrical and electronics, food & beverages, oil & gas, power and utilities, process industries and mining, retail, and transportation, along with governments and public organizations, to address the challenges related to quality, safety, and environmental protection. The company has offices and laboratories in Europe, APAC, and the Americas, and it strives to expand its reach globally through acquisitions and partnerships.
Bureau Veritas helps its clients from the aerospace industry to monitor the technical conditions of aircraft and continuously review the schedule of their maintenance inspections to ensure high performance. It also provides regulatory and technical compliance assessment, verification, aircraft recovery and delivery assistance, lease/purchase agreement compliance verification, ongoing lease (lease monitoring) supervision, and supply chain risk management and training services to its clients from the aerospace industry.
Management System Certification Market with COVID-19 Impact Analysis by Certification Type (Product Certification and Management System Certification), Service Type, Verticals, and Region - Global Forecast to 2026
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