Global Testing, Inspection and Certification Market By Service (Testing, Inspection, Certification, and Others), Sourcing Type (In-House and Outsourced), Application (Consumer Goods and Retail, Construction and Infrastructure, Energy and Power, Industrial and Manufacturing, Medical and Life Science, Oil & Gas), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2027
The Global Testing, Inspection and Certification Market is expected to grow from USD 192.44 billion in 2018 to USD 311.36 billion by 2026 at a CAGR of 5.07% during the forecast period from 2018-2026.
Global Testing, Inspection and Certification Market is expected to reach USD 311.36 billion by 2026, at a CAGR of 5.07% from 2018 to 2026. The growth of this market is being accelerated by the increase in disposable income and rapid urbanization in developing economies and high adoption of outsourcing service models by worldwide manufacturers drives the demand for inspection and certification market during the projected period. Additionally, high growth in product recalls across the globe and increased requirement for harmonized standards also propels the demand for testing,inspection and certification market during the projected period.
As consumers are getting aware of the importance of certified products, manufacturers are certifying their products and services to achieve the trust of customers. Additionally, the governments of different countries from developing economies such as India, China, and Japan are encouraging investments to boost the technology, which would lead to the increased use of independent testing and certification services. Moreover, investments into new technologies are in pipeline and are likely to continue growing on the back of the rising global market which emerge as a strong opportunity in the coming years.
The major key Vendors includes in the testing, inspection and certification Market are SGS Group, Bureau Veritas S.A., Intertek Group PLC, TUV SUD Group, Dekra Certification GmbH, ALS Limited, ASTM International, BSI Group, Exova Group PLC, TUV Rheinland A.G., TUV Nord Group, SAI Global Limited, Eurofins Scientific, Mistras Group,Inc.
- The base year for the study has been considered 2018, historic year 2015, 2016, and 2017, the forecast period considered is from 2019 to 2026
- The study delivers a comprehensive analysis of global testing, inspection and certification market by service, sourcing type, application and region
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global testing, inspection and certification market. This report incorporates the industry analysis which is focused on providing an extensive view of the testing, inspection and certification market
- The study also includes attractiveness analysis of sensor, component, solution, and application, and region which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market
- The report provides company profile of the key players operating in the testing, inspection and certification market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.