TIC Market (By Type- In-house, Outsourcing. By End-Users- Textile, Oil & Gas, Automotive, Aerospace, Food and Beverages and Petroleum) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025
The process testing, inspection and certification is adopted by end-user industries to ensure quality, maintenance and safety in consumer products. Nowadays, strict regulations on safety and quality regarding health matters have increased the demand for TIC process in manufacturing zones. Moreover, increasing adoption of TIC process across wide range of divisions such as food and beverages, oil and gas, textile and aerospace has augmented the market growth globally. Flourishing industrial segment and rise of customers have made the market more demanding. Emerging economies present across the world is expected to experience huge growth in the global TIC market. Safety regulations have forced product manufacturers to accept certifications to deal internationally. Wide range of sectors including textile, food and beverages, oil & gas and aerospace among others is expected to fuel the market growth in the coming years. Further down, increasing number of import and exports in the global market are impelling the testing, inspection and certification market globally. In emerging countries, rising consumption of goods, piracy activities and rigorous government regulations are expected to be the prime factor to augment the growth of testing, inspection and certification market during the projection period of 2017-2025.
Among the other segments the testing services segment is expected to be the fastest growing segment in the TIC market. Increase in the number of faulty parts and components have made the market more demanding in recent years. Stringent quality standards adopted by luxury goods manufacturers and electronics industry create a huge market growth opportunity during the forecasted years. Moreover, arrival of newcomers such as platform providers or engineers and instrumentation players, too creates an opportunity for further testing activities and brings an evolution in the testing, inspection and certification market.
The testing, inspection, and certification market in report is segmented by type which includes in-house and outsourcing. Moreover, based on end-users, the market has been segmented as textile, oil & gas, automotive, aerospace, food and beverages and petroleum. The global testing, inspection and certification market has been moreover segmented geographically into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
Strict quality inspections and checks are propelling the growth of testing, inspection and certification market across the globe. Technological advancement and investment in evolution by leading vendors has made the market more demanding. Moreover, in emerging economies, increasing applications of testing, inspection and certification services in various industry verticals has led to be a growth factor for the market. However, it is expected that lack of clear regulations poses to be a problem for evolution of testing, inspection and certification market.
Some of the major players in the global TIC market are Dekra Certification GmbH, ASTM International, SGS Group, Eurofins International, and so on
Global Testing, Inspection and Certification (TIC) Market: By Type
Global Testing, Inspection and Certification (TIC) Market: By End-Users
Global Testing, Inspection and Certification (TIC) Market: By Geography