Testing, Inspection, and Certification Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024-2030)

Testing, Inspection, and Certification Market Trends & Drivers

• Trading activities are gaining traction as a result of rapid globalization. During the trading of numerous crucial products, including pharmaceutical drugs, medicine, and processed food items, the requirement to pass several strict regulations implemented by respective authorities, in order to validate their quality, is mandatory. Thus, the rising in these trading activities forms high revenue generation possibilities in the industry.
• Prominent players in the market are adopting advanced technologies, such as digital processing and big data, to collect information from several different sources, with no integrating challenges of the past. Physical inspection is now replaced by integrated sensors, predictive maintenance, and digital inspection. These factors assist in embedding client relationships, increasing boundaries, and providing growth possibilities. Such services are now evading labor work and helping transform drones for asset integrity and crop management. With such inspection practices, costs can be decreased and inspection can be custom-made to the areas interpreted in real-time.
• The rise in globalization and liberalization has highlighted safety as the first concern among customers. Increased life threat is a major concern, spreading awareness among consumers to prioritize safety. To improve such safety concerns, organizations are focused on applying safety testing services as per government guidelines. The priority of these standards is to reduce environmental impacts and ensure safety.
• For example, in the automobile industry, several governments have implemented strict environmental legislation on original equipment manufacturers (OEMs) to control carbon dioxide emissions. Likewise, in the U.S., the National Transportation Safety Board and the National Highway Traffic Safety Administration suggested collision avoidance systems standardization. Thus, widespread government standards and guidelines for ensuring the security and safety of passengers are expected to foster the demand for such services in the coming years.
• Strict government rules on food & beverages and consumer product testing, mandatory inspection guidelines, and the increasing trade of consumer products are driving industry expansion. Moreover, several governments’ rising sensitivity regarding favorable initiatives and a cleaner environment in all sectors, such as automotive and healthcare, and the rapid acceptance of digital technologies to drastically transform such services are further contributing to the growth of the testing, inspection, and certification market.

Testing, Inspection, and Certification Market Analysis

The medical and life sciences category will witness the fastest growth during the forecast period, advancing at a CAGR of more than 4%. This can be ascribed to the surging need for medical equipment, including PPE kits, ventilators, sterilizers, oxygen cylinders, masks, and others; high government spending in the healthcare sector along with several favorable policies and subsidies; and the rising count of life sciences laboratories. Moreover, the increasing need for TIC services for medical implants, surgical equipment, and other related tools, which play a vital role to ensure patient safety and well-being, is further contributing to the growth of the industry.

In addition, the construction category will register significant growth in the coming years. This growth can be ascribed to the burgeoning infrastructural practices primarily in developing nations, high requirements for quality assurance, high construction spending and development programs run by governments, and the growing industrial and manufacturing sectors.

Furthermore, the food & beverages category contributes significant revenue to the market. This is because this sector needs close monitoring of quality adherence, dependability, and product lifecycle. Additionally, the rising incidences of food contamination, adherence to regulatory frameworks for food and beverages, and surging individual awareness regarding health and healthy food, further help the market in this category to grow at a significant pace in the coming years.

The in-house category accounted for a larger revenue share, over 60%, in 2022, and it is further expected to maintain its position during the predicted period. This is due to its several advantages, such as on-site availability, flexibility to employ expertise, and setting up particular processes in accordance with an organization’s requirements and objectives. Also, in-house inspection and testing procedures allow businesses to practice actual TIC operations. Moreover, deploying in-house procedures offers enhanced control and an in-depth understanding of enterprise operations, which may be advantageous to businesses, and further contribute to the market growth in this category.

On the other hand, the outsourced category will witness faster growth in the coming years. This can be due to its cost-efficiency, less resource requirement, and growing trend for outsourcing services, along with an upsurge in the number of outsourcing companies.

The certification services category will witness the fastest growth in the coming years. This can be due to the mounting requirement for product certification, the increasing number of authorities that approve certifications in the related field of operation, the growing agriculture & food industry that needs certifications by several authorities, and the burgeoning efforts from regional or local government authorities to enhance safety practices in numerous end-use sectors.

On the other hand, the testing services category accounted for the largest revenue share in 2022, and it is also expected to maintain its position during the forecast period. This is due to the widespread utilization of such services in the manufacturing, energy & utilities, oil & gas, and automotive industries. Moreover, such practices help organizations to maintain high standards and safety and the high operational expenses for testing products across industrial verticals further contribute to the expansion of the industry in this category.

Moreover, the inspection services category will register significant growth in the coming years. This can be due to the burgeoning demand for these services for product inspection, quality control, supplier audits, and others, to ensure the quality of end products.

Geographical Analysis

The APAC market accounted for the largest revenue share, around 40%, in 2022, and it is further expected to maintain its dominance during the forecast period. This is attributed to the upsurge in economic development in countries such as China, India, Japan, and South Korea; the growing end-use industries, including consumer goods & retail, industrial & manufacturing, and IT & telecommunication; and the rising consumer spending associated with the increase in per capita income, in the region.

• China, Japan, India, and South Korea generate the majority of revenue in the regional market. This is due to the high R&D investment in end-use industries; extensive consumer base; rise in consumer quality awareness; quality standards of materials and services imposed by governments in the construction sector; and a large number of TIC startups, which are funded by several public and private companies, in these countries.

The North American market will witness significant growth during the predicted period. This can be due to the presence of a large number of industry giants, an upsurge in trading activities, a well-established healthcare sector, high spending in the aerospace industry, and the growing mining industry in the region.

• The U.S. contributes a larger revenue share to the North American market, and it is further expected to maintain its position in the coming years. This is because the country is home to prominent industry players, the emergence of new startups, strict legislation and compliance regulations imposed by the government, and high demand for consumer electronics.

Europe contributes significant revenue to the global market. This is ascribed to the implementation of strict environmental laws, rising health safety measures, a growing trend for regular testing and inspection across industrial verticals, and the surging adoption of digital inspection services.

• Germany contributes the largest revenue to the European market, and it is further expected to maintain its dominance in the coming years. This is because the nation is a hub for automobile manufacturing where vehicle testing and inspection services are extensively required to meet several regulations imposed by the government.

Report Breakdown

Based on Sourcing Type

• In-House Services
• Outsourced Services

Based on Service Type

• Testing
• Inspection
• Certification

Based on Application

• Medical & Life Sciences
• Consumer Goods
• Food & Beverages
• Retail
• Agriculture
• Chemicals
• Construction
• Energy & Power
• Manufacturing
• Mining
• Oil & Gas
• Automotive
• Aerospace

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa

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