The global testing, inspection, and certification (TIC) market size were more than USD 113.60 billion in 2020. The global testing, inspection, and certification (TIC) market are forecast to grow at a compound annual growth rate (CAGR) of more than 4.3% during the forecast period from 2021 to 2027.

Testing, inspection, and certification (TIC) include auditing, inspection, testing, verification, quality assurance, and certification of products, equipment, more. These activities maximize the efficiency of products and services while minimizing risks. Testing, inspection, and certification (TIC) services are available in many sectors, such as oil & gas, automotive, consumer electronics, and more, increasing the global demand for TIC services.

Factors Affecting

The increase in manufacturing companies' efforts to retain customers by providing quality products and the surge in demand for interoperability testing for connected devices and IoT are driving the growth of testing, inspection, and certification (TIC) markets.

Due to the high cost of testing, inspection, and certification services due to diverse standards and regulations across different geographies, the testing, inspection, and certification (TIC) market will face major challenges.

Technology advancements and the evolution of customer service will lead to lucrative opportunities for the global testing, inspection, and certification market in the near future.

Small-scale manufacturers' low awareness of testing, inspections, and certifications (TIC) is one of the factors impeding the market's growth.

A rise in awareness of the need for testing, inspection, and certification, and a surge in safety concerns, are two factors that provide an opportunity for testing, inspection, and certification (TIC) market growth.

Impact Analysis of the COVID-19

Consumers, businesses, and communities across the globe are facing widespread concerns and economic hardship as a result of COVID-19 spreading throughout the world. The new norm of social isolation and working from home has created challenges with daily activities, regular work, needs, and supplies, causing initiatives to lag and opportunities to disappear.

The COVID-19 pandemic is affecting society and the economy globally. The impact of this outbreak is growing day by day, and it is also affecting the supply chain. The stock market becomes uncertain, business confidence decreases, the supply chain slows, and customers become panicked. Europe is experiencing major losses in business and revenue due to the shutdown of manufacturing units. Manufacturing and production operations have been negatively impacted by COVID-19, disrupting the market for testing, inspection, and certification in 2020.

TIC market trends show that the COVID-19 pandemic has highly impacted the global manufacturing sector as production facilities have slowed. The effect, in turn, has impacted significant demand in industries.

Regional Overview

Asia Pacific is forecast to account for the highest amount of TIC market revenue. China and India are two of the developing economies of Asia Pacific that have the greatest number of economically advanced countries with manufacturing units. Their products are required to meet international standards. The Asia Pacific domestic market is growing rapidly because of the increasing per capita income of the middle class. Consumers are also becoming more aware of the importance of certification.

Key Players

The leading prominent players in the global testing, inspection, and certification (TIC) market are:

Bureau Veritas S.A
TuV Sud AGSGS S.A.
Intertek Group Plc.
TuV Rheinland AG Group
Mistras Group
Dekra SE
Eurofins Scientific SE
Lloyds Register Group Limited
ALS Limited
Other Prominent Players
Scope of the Report

The global testing, inspection, and certification (TIC) market segmentation focus on Service Type, Sourcing Type, Application, End-User, and Region.

Segmentation based on Service Type

Testing
Inspection
Certification
Segmentation based on Sourcing Type

In-House
Outsource
Segmentation based on Application

Quality and Safety
Production Evaluation
Industrial Inspection
System Certification
Others
Segmentation based on End-User

Consumer Electronics
Industrial
Automotive & Transportation
Aerospace & Defense
Others
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America