Testing, Inspection and Certification (TIC) Market size Develop Rapidly size CAGR of 4.8% over COVID-19 2028
A recent market intelligence report that is published by Data Insights Partner on the global TIC market makes an offering of in-depth analysis of segments and sub-segments in the regional and international TIC market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global TIC market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global TIC market is offered. In accordance with the report, the global TIC market is projected to expand with the CAGR of 4.8% over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
The Testing, Inspection and Certification (TIC) sector is rapidly gaining its popularity from the past few decades. This sector is use to provide services including testing, inspection, quality assurance and the certification with the international standers introduced by the various national standards organizations. The TIC helps business entities to ensure the quality, health and safety, environmental protection of the product, and different processes.
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The growing acceptance of outsourcing service models across various business entities is the primary factor that drive the growth of the TIC market worldwide. The TIC consists of both in-house and outsourced services. Additionally, rapid globalization and urbanization across emerging countries are accelerating the growth of TIC market. The trending implementation of demanding government regulations and standards across several industry verticals is escalating the growth of the TIC market. Furthermore, increasing Disposable Income in developed and underdeveloped countries are accelerating the growth of the TIC market. On the other hand, variations of regulations and standers according to the Geographies is expected to restrain the market growth. Moreover, the growing adoption of TIC across the small and medium scale enterprises are projected to create several growth opportunities in the market growth over the forecast period.
Among the geographies, North America dominated the global TIC market in 2018. The growth in the North America region is due to the adoption of TIC in industries such as automotive and medical sectors. Moreover, the growing awareness about TIC in food and beverage Oil, Gas & The chemical industry in North America is majorly contributing to market growth. On the other hand, countries in Latin America such as Brazil are focusing on the introduction of TIC services in the varies industry verticals.
Segment Covered:
This market intelligence report on the global TIC market encompasses market segments based on sourcing type, service type, applications and country.
In terms of sourcing type, the global TIC market is segregated into:
In-House Services
Outsourcing services
By service type also classify into, the global TIC market:
Testing
Inspection
Certification
Others
By application also classify into, the global TIC market:
Chemicals
Consumer goods
Construction and infrastructure
Energy & Power
Agriculture and Food
Project Lifecycle Services
Manufacturing industries
Medical and Life Sciences
Oil, Gas and Mining
Automotive
Others
By country/region, the global TIC market has been divided into:
North America (the U.S., Canada),
Latin America (Brazil, Mexico, Argentina and other countries),
Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
Middle East and Africa (GCC, South Africa, Israel and Other countries).
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Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
ALS Limited
Applus+
Bureau Veritas,
Dekra Se
DNV Gl
Eurofins Scientific
Intertek
Lloyd’s Register Group Limited
Mistras
SGS Group
TUV Rheinland
Others players have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as TIC related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2017-2027. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Salient Features:
Ø This study offers comprehensive yet detailed analysis of the TIC market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2019 – 2027, taking into account 2018 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world TIC market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø Leading market players covered this report comprise names such as Bureau Veritas, Intertek, GS Group, Eurofins Scientific, Dekra Se , TUV Rheinland and others
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for TIC caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for TIC market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the TIC market
v Identification of key factors driving investment opportunities in the TIC market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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