Global Testing, Inspection, and Certification (TIC) Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026

Date : May 2020

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Report ID : 293

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Category : Information Technology

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Report Format:  PDF EXCEL PPT WORD

The Global testing, inspection and certification (TIC) market was valued at USD 183.21 in 2018 and is expected to reach USD 283.73 billion in 2026, growing at a CAGR of 5.6% during the forecast period.

Testing, inspection, and certification (TIC) sector have a substantial role to make certain the infrastructure, services, products are fulfilling the standards and regulations relating to safety and quality. It consists of conformity assessment bodies who offer services ranging from auditing and inspection to testing, verification, quality assurance, and certification.

Testing, Inspection, and Certification (TIC) Market Segmentation

By Service Type 1. Testing Service
2. Inspection Service
3. Certification Service
 
By Sourcing Type 1. In-house
2. Outsourced
 
By End-user 1. Oil & Gas
2. Chemicals
3. Life Sciences
4. Power & Utilities
5. Food, Beverages, And Agriculture
6. Automotive & Aerospace 
7. Consumer Products & Goods
8. Others
 
By Region 1. North America (US and Canada)
2. Europe (UK, Germany, France and Rest of Europe)
3. Asia Pacific (China, Japan, India and Rest of Asia Pacific)
4. Latin America (Brazil, Mexico and Rest of Latin America)
5. Middle East & Africa (GCC and Rest of Middle East & Africa)
 


As inspection and testing are mandatory at regular intervals for some industries such as oil and gas, the TIC services are estimated to have steady growth, irrespective of the state of the global economy. Other factors propelling the growth include outsourcing of TIC functions by industry, strict regulation in many fields and rising necessity to ensure brand protection. The recent increase of protectionist policy and trade barriers has resulted in limiting global trade growth which is affecting the TIC market adversely. Digitization of the TIC industry holds future opportunity for this market.

Global Testing, Inspection, and Certification (TIC) Market Size, 2016-2026, (US$ Bn)

Testing, Inspection, and Certification (TIC) Market

Based on service type, the certification service segment is expected to have highest growth rate at a CAGR 7.5% during the forecast period.

Based on the service type, the global testing, inspection and certification (TIC) market are segmented into testing service, inspection service and certification service. The certification service segment is growing rapidly in the Testing, inspection, and certification market with the highest CAGR of 7.5% in the forecast period. Certification services are mainly adopted by industries to validate that their products are according to the standard specified, as well as to have better marketability. As consumers are looking for certified quality products, along with the increasing demand for certification service.

Based on sourcing type, the in-house segment is having largest share around 60% in global Testing, inspection, and certification market.

Based on sourcing type, the market has been segmented into in-house and outsourced. The in-house segments account for more than 60% share of the global TIC market. The push towards outsourcing – and in specific instances, the privatization of state-owned laboratories – will continue to be a strong driver of growth. But the outsourced segment is having a high growth rate due to increasing privatization of state-owned laboratories along with increasing outsourcing of non-core business of ICT companies.

Based on end-user, the consumer products and goods segment is having largest share in global Testing, inspection, and certification market.

Based on end-user, the market has been segmented into oil and gas, chemicals, life sciences, power & utilities, food, beverages, and agriculture, automotive & aerospace, consumer products and goods, and others. The consumer goods and retail segment is driven by the growing need for TIC services in personal care and beauty products, hard goods, toys, and juvenile products, and electrical and electronics etc. Different brands, retailers, producers, and importers need to prove product safety and acceptability across the supply chain, for which they are dependent on ITC service providers. TIC service providers are also increasing their services due to the growing demand for TIC services from the textile and footwear sectors in developing markets.

Europe is dominate the testing, inspection, and certification market

Europe is dominating the TIC market and is accounted for around 34% revenue share. The main factors driving demand for the TIC services market in the region are technological improvements in the automotive industry and the outsourcing of TIC services. Additionally, the growing trade of consumer products is affecting the growth of the TIC market in the region. The growth of the testing, inspection and certification (TIC) market in the Asia Pacific is expected to witness the highest growth due to a combination of regulatory and economic factors. As consumers are becoming aware of the significance of certified products, manufacturers are increasingly certifying their products and services to win the trust of customers. Besides, the governments of different countries in Asia Pacific are encouraging investments by private players in the technology sector, which results in the increased use of testing and certification services.

Company Profiles and Competitive Intelligence:

The major players operating in the global testing, inspection, and certification market are SGS Group, MISTRAS, TUV Rheinland Group, Lloyd's Register Group Limited, Intertek Group PLC, Bureau Veritas SA, ALS Limited, DNV GL, and Others.

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TABLE OF CONTENT

Chapter 1 Executive Summary

1.1. Market Summary

1.1.1. Global Testing, Inspection and Certification (TIC) Market, 2016-2026, (USD Million)

1.2. Market Snapshot: Global Testing, Inspection and Certification (TIC) Market

1.3. Market Dynamics

1.4. Global Testing, Inspection and Certification (TIC) Market, by Segment, 2018

1.4.1. Global Testing, Inspection and Certification (TIC) Market, by Service Type, 2018, (USD Million)

1.4.2. Global Testing, Inspection and Certification (TIC) Market, by Sourcing Type, 2018, (USD Million)

1.4.3. Global Testing, Inspection and Certification (TIC) Market, by End User, 2018, (USD Million)

1.4.4. Global Testing, Inspection and Certification (TIC) Market, by Region, 2018 (USD Million)

1.5. Premium Insights

1.5.1. Testing, Inspection and Certification (TIC) Market In Developed Vs. Developing Economies, 2018 vs 2026

1.5.2. Global Testing, Inspection and Certification (TIC) Market: Regional Life Cycle Analysis

Chapter 2 Market Dynamics

2.1. Market Overview

2.2. Market Drivers

2.2.1. Increasing awareness of consumers

2.2.2. Innovative technology and new product development

2.3. Market Restraints

2.3.1. Rise of protectionist policy and trade barriers 

2.4. Market Opportunities

2.4.1. Emerging economies in Asia-Pacific

2.5. Industry Value Chain Analysis

2.6. Pricing Analysis

2.7. Porter’s Five Forces Analysis

Chapter 3 Global Testing, Inspection and Certification (TIC) Market, by Service Type

3.1. Market Overview, by Service Type

3.1.1. Global Testing, Inspection and Certification (TIC) Market, by Country, 2016-2026 (USD Million)

3.1.2. Incremental Opportunity, by Service Type, 2018

3.2. Testing Service

3.2.1. Global Testing, Inspection and Certification (TIC) Market, by Testing Service, 2016-2026, (USD Million)

3.3. Inspection Service

3.3.1. Global Testing, Inspection and Certification (TIC) Market, by Inspection Service, 2016-2026, (USD Million)

3.4. Certification Service

3.4.1. Global Testing, Inspection and Certification (TIC) Market, by Certification Service, 2016-2026, (USD Million)

Chapter 4 Global Testing, Inspection and Certification (TIC) Market, by Sourcing Type

4.1. Market Overview, by Sourcing Type

4.1.1. Global Testing, Inspection and Certification (TIC) Market, by Sourcing Type, 2016-2026 (USD Million)

4.1.2. Incremental Opportunity, by Sourcing Type, 2018

4.2. In-house

4.2.1. Global Testing, Inspection and Certification (TIC) Market, by In-house, 2016-2026, (USD Million)

4.3. Outsourced

4.3.1. Global Testing, Inspection and Certification (TIC) Market, by Outsourced, 2016-2026, (USD Million)

Chapter 5 Global Testing, Inspection and Certification (TIC) Market, by End User

5.1. Market Overview, By End User

5.1.1. Global Testing, Inspection and Certification (TIC) Market, By End User, 2016-2026 (USD Million)

5.1.2. Incremental Opportunity, By End User, 2018

5.2. Oil and Gas

5.2.1. Global Testing, Inspection and Certification (TIC) Market, By Oil And Gas, 2016-2026, (USD Million)

5.3. Chemicals

5.3.1. Global Testing, Inspection and Certification (TIC) Market, By Chemicals, 2016-2026, (USD Million)

5.4. Life Sciences

5.4.1. Global Testing, Inspection and Certification (TIC) Market, By Life Sciences, 2016-2026, (USD Million)

5.5. Power & Utilities

5.5.1. Global Testing, Inspection and Certification (TIC) Market, By Power & Utilities, 2016-2026, (USD Million)

5.6. Food, Beverages, And Agriculture

5.6.1. Global Testing, Inspection and Certification (TIC) Market, By Food, Beverages, And Agriculture, 2016-2026, (USD Million)

5.7. Automotive & Aerospace 

5.7.1. Global Testing, Inspection and Certification (TIC) Market, By Automotive & Aerospace, 2016-2026, (USD Million)

5.8. Consumer Products And Goods

5.8.1. Global Testing, Inspection and Certification (TIC) Market, By Consumer Products And Goods, 2016-2026, (USD Million)

5.9. Others

5.9.1. Global Testing, Inspection and Certification (TIC) Market, by Others, 2016-2026, (USD Million)

Chapter 6 Global Testing, Inspection and Certification (TIC) Market, by Region

6.1. Market Overview, by Region

6.1.1. Global Testing, Inspection and Certification (TIC) Market, by Region, 2016-2026, (USD Million)

6.1.2. Attractive Investment Opportunity, by Region, 2018

6.2. North America Testing, Inspection and Certification (TIC) Market

6.2.1. North America Testing, Inspection and Certification (TIC) Market, by Service Type, 2016-2026 (USD Million)

6.2.2. North America Testing, Inspection and Certification (TIC) Market, by Sourcing Type, 2016-2026 (USD Million)

6.2.3. North America Testing, Inspection and Certification (TIC) Market, by End User, 2016-2026 (USD Million)

6.2.4. United States Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.2.5. Canada Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.3. Europe Testing, Inspection and Certification (TIC) Market

6.3.1. Europe Testing, Inspection and Certification (TIC) Market, by Service Type, 2016-2026 (USD Million)

6.3.2. Europe Testing, Inspection and Certification (TIC) Market, by Sourcing Type, 2016-2026 (USD Million)

6.3.3. Europe Testing, Inspection and Certification (TIC) Market, by End User, 2016-2026 (USD Million)

6.3.4. United Kingdom Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.3.5. Germany Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.3.6. France Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.3.7. Rest of Europe Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.4. Asia Pacific Testing, Inspection and Certification (TIC) Market

6.4.1. Asia Pacific Testing, Inspection and Certification (TIC) Market, by Service Type, 2016-2026 (USD Million)

6.4.2. Asia Pacific Testing, Inspection and Certification (TIC) Market, by Sourcing Type, 2016-2026 (USD Million)

6.4.3. Asia Pacific Testing, Inspection and Certification (TIC) Market, by End User, 2016-2026 (USD Million)

6.4.4. China Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.4.5. Japan Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.4.6. India Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.4.7. Rest of Asia Pacific Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.5. Latin America Testing, Inspection and Certification (TIC) Market

6.5.1. Latin America Testing, Inspection and Certification (TIC) Market, by Service Type, 2016-2026 (USD Million)

6.5.2. Latin America Testing, Inspection and Certification (TIC) Market, by Sourcing Type, 2016-2026 (USD Million)

6.5.3. Latin America Testing, Inspection and Certification (TIC) Market, by End User, 2016-2026 (USD Million)

6.5.4. Brazil Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.5.5. Mexico Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.5.6. Rest of Latin America Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.6. Middle East & Africa Testing, Inspection and Certification (TIC) Market

6.6.1. Middle East & Africa Testing, Inspection and Certification (TIC) Market, by Service Type, 2016-2026 (USD Million)

6.6.2. Middle East & Africa Testing, Inspection and Certification (TIC) Market, by Sourcing Type, 2016-2026 (USD Million)

6.6.3. Middle East & Africa Testing, Inspection and Certification (TIC) Market, by End User, 2016-2026 (USD Million)

6.6.4. GCC Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

6.6.5. Rest of Middle East & Africa Testing, Inspection and Certification (TIC) Market, 2016-2026 (USD Million)

Chapter 7 Competitive Intelligence

7.1. Top 5 Players Comparison

7.2. Market Positioning of Key Players, 2018

7.3. Market Players Mapping

7.3.1. By Service Type

7.3.2. By Sourcing Type

7.3.3. By End User

7.3.4. By Region

7.4. Strategies Adopted by Key Market Players

7.5. Recent Developments in the Market

7.5.1. Mergers & Acquisitions, Partnership, New Product Developments

Chapter 8 Company Profiles

8.1. SGS Group

8.1.1. SGS Group Overview

8.1.2. SGS Group Product Portfolio

8.1.3. SGS Group Financial Overview

8.1.4. SGS Group News/Recent Developments

8.2. MISTRAS

8.2.1. MISTRAS Overview

8.2.2. MISTRAS Product Portfolio

8.2.3. MISTRAS Financial Overview

8.2.4. MISTRAS News/Recent Developments

8.3. TUV RHEINLAND GROUP

8.3.1. TUV RHEINLAND GROUP Overview

8.3.2. TUV RHEINLAND GROUP Product Portfolio

8.3.3. TUV RHEINLAND GROUP Financial Overview

8.3.4. TUV RHEINLAND GROUP News/Recent Developments

8.4. Lloyd’s Register Group Limited

8.4.1. Lloyd’s Register Group Limited Overview

8.4.2. Lloyd’s Register Group Limited Product Portfolio

8.4.3. Lloyd’s Register Group Limited Financial Overview

8.4.4. Lloyd’s Register Group Limited News/Recent Developments

8.5. Intertek Group PLC

8.5.1. Intertek Group PLC Overview

8.5.2. Intertek Group PLC Product Portfolio

8.5.3. Intertek Group PLC Financial Overview

8.5.4. Intertek Group PLC News/Recent Developments

8.6. Bureau Veritas SA

8.6.1. Bureau Veritas SA Overview

8.6.2. Bureau Veritas SA Product Portfolio

8.6.3. Bureau Veritas SA Financial Overview

8.6.4. Bureau Veritas SA News/Recent Developments

8.7. ALS Limited

8.7.1. ALS Limited Overview

8.7.2. ALS Limited Product Portfolio

8.7.3. ALS Limited Financial Overview

8.7.4. ALS Limited News/Recent Developments

8.8. DNV GL

8.8.1. DNV GL Overview

8.8.2. DNV GL Product Portfolio

8.8.3. DNV GL Financial Overview

8.8.4. DNV GL News/Recent Developments

Chapter 9 Preface

9.1. Data Triangulation

9.2. Research Methodology

9.2.1. Phase I – Secondary Research

9.2.2. Phase II – Primary Research

9.2.3. Phase III – Expert Panel Review

9.2.4. Approach Adopted

9.2.4.1. Top-Down Approach

9.2.4.2. Bottom-Up Approach

9.2.5. Supply- Demand side

9.2.6. Breakup of the Primary Profiles


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