Global Testing, Inspection and Certification (TIC) Market To Rea - Erie News Now | WICU & WSEE in Erie, PA

Global Testing, Inspection and Certification (TIC) Market To Reach US$ 285 Billion By 2024


The global testing, inspection and certification (TIC) market is expected to reach US$ 285 billion by 2024, registering a compound annual growth rate (CAGR) of 5.6% during the forecast period. Rising trend of outsourcing TIC services to third party service providers and stringent regulations to ensure the quality and safety of products are driving the market. In addition, increasing product diversification in several industries and globalization are expected to fuel the growth of the TIC market. However, different regulations and standards across various regions are expected to hamper the growth of the TIC market.

In this report, the global TIC market is segmented by type, sourcing activity, end-user industry, and region. On the basis of type, the market is segmented into testing, inspection, and certification. The market on the basis of sourcing activity is segmented into in-house and outsourced. The TIC market is segmented on end-user industries, namely, petroleum, environmental, consumer goods, agriculture, mining, construction & infrastructure, manufacturing, oil & gas, and chemical.

The global TIC market is segmented on the basis of key regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is expected to witness the highest growth rate during the forecast period due to the growing disposable income of people in the region. Furthermore, each region is segmented to provide market revenue for countries such as the U.S., Canada, the U.K., Germany, China, Japan, India, Russia, Brazil, and the GCC countries. The report includes a detailed study of the global and regional TIC market and analyzes the variations in the growth of the industry in certain regions.

Bureau Veritas SA, Intertek Group PLC, SGS Group, ALS Ltd., ASTM International, AsureQuality Ltd., Dekra SE, Underwriters Laboratories Inc, Lloyd’s Register Group Limited, DNV GL, TUV SUD AG, and TV Rheinland Group are the most active players in the TIC market.

A glimpse of the report structure is provided in the report description available on the website.

This report covers the TIC market, in terms of value, and forecasts the market size till 2024. It includes the market segmentation by type, sourcing activity, end-user industry, and region. In addition, the report identifies key growth segments and opportunities in the industry. This report also covers detailed competitive outlook including the share and company profiles of the key players in the global market. Company profile includes company summary, financial summary, business strategy and planning, SWOT analysis, and current developments.

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