Testing, Inspection and Certification (TIC) Market: rise in industrialization and globalization to propel the demand during 2016-2021.
Testing, Inspection and Certification (TIC) is a process performed to ensure that the manufactured products, component, component systems are adequate for the intended purpose. Inspection and testing are performed before, during and after manufacturing to ensure the quality of the product while certification refers to the confirmation of the quality of the product. The Testing, Inspection and Certification (TIC) Market has high scope for growth due to high industrial activities during 2016-2021.
Scope and Regional Forecast of the Testing, Inspection and Certification (TIC) Market:
Europe dominated the Testing, Inspection and Certification (TIC) Market in 2015 primarily due to its vast industrial base presenting ample opportunities to TIC service providers with stringent safety norms on industrial and consumer products. North America and Europe are competing for the domination over this market through 2021.
APAC is analyzed to be the largest growing market in the Testing, Inspection and Certification (TIC) Market during the forecast period 2016-2021 resulting from the growing manufacturing activities and improving processing industries in the region through 2021.
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According to the IndustryARC marketing analysis studies, Implementation of new regulations from the government and setting up of various standards for the efficiency and safety of the product has been fueling the growth of the Testing, Inspection and Certification (TIC) Market.
Segmentation and Key Players of the Testing, Inspection and Certification (TIC) Market:
The Testing, Inspection and Certification (TIC) Market is segmented into various categories in the IndustryARC market research report by testing methodology, by application, by end user industry and by geography.
By testing methodology: External Condition (Visual Testing, Magnetic Particle Testing, Eddy Current Testing and Penetrant Testing), Internal Condition (Ultrasonic Testing, Radiographic Testing and Leakage Testing) and others
By application: Quality and Safety Services, Product Performance Evaluation, Certification and Valuation of Shipments, Valuation of imports with respect to standards, Industrial Inspections (Maintenance Turnarounds, System Certification, Supplier Evaluation and Laboratory Outsourcing) and others
By end user industry: agriculture, automotive, food, consumer, medicine & life science, oil and gas, system compliance and others
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Testing, Inspection and Certification (TIC) Market as mentioned in the IndustryARC research study are as follows:
- SGS Group (Switzerland)
- TUV (Germany)
- Bureau Veritas S.A. (France)
- Dekra eV (Germany)
- Intertek Group PLC (U.K.)
The Testing, Inspection and Certification (TIC) Market is a rapidly growing market in various sectors for testing and certification approval by standard committee across the globe. This market is expected to witness high growth owing to the increasing industrialization and the need of approved products for consumers’ satisfaction during 2016-2021.
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