Testing Inspection and Certification (TIC) Market
Testing Inspection and Certification (TIC) Market Global Industry Assessment & Forecast
#
Pages:
180
2021
Nov - 2021
VMR-2021-0732
Segments Covered
By
Service Type Testing, Inspection, Certification
-
By
Sourcing Type In-House, Outsource
-
By
Application Quality and Safety, Production Evaluation, Industrial Inspection, System Certification, Others
-
By
Consumer Electronics, Industrial, Automotive & Transportation, Aerospace & Defense, Others
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
207.2 Billion |
 Revenue 2028:
|
313.2 Billion |
 Revenue CAGR
(2021 - 2028): |
5.3 |
Fastest Growing Region (2022 -
2028)
|
Asia Pacific |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Research Methodology: Testing Inspection and Certification (TIC) Market - Global Market Assessment, 2021 - 2028
Vantage Market Research follows a veracious methodology to arrive at market-related projections. The research methodology is based on the 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. We conduct more than 100 primary interviews for each market either through mail or telephone call. Vantage Market Research employs the most infallible research methodology that ensures clients are receiving:
- Consistent, vigorous, and actionable data analysis that would help to make key business decisions
- Statistically improved and reliable insights through a veracious and well-audited research methodology.
- Independent study ensures a tangible representation of the market
Secondary Research
Primary Research:
The next stage involves the primary research conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills the following data requirements:
- First-hand information global market size, regional and segmental trends, competitive landscape
- Validate and authorization of secondary research outcomes and findings
- Further data collection and expertise development & market understandings
Data Triangulation and Market Size Estimations
After the determination of the overall market size through secondary and primary research, the market is divided into various segments and sub-segments. Moreover, top-down and bottom-up approaches were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. During the data triangulation process, the data was analyzed by employing various data models and statistical techniques to arrive at exact statistics and market size for each segment/sub-segment of the market. The data is analyzed and triangulated by considering all the key market impacting factors from both supply and demand side of Testing Inspection and Certification (TIC) market.
FAQ
Frequently Asked Question
What is the global demand for Testing Inspection and Certification (TIC) in terms of revenue?
-
The global Testing Inspection and Certification (TIC) valued at 207.2 Billion in 2020 and is expected to reach 313.2 Billion in 2028 growing at a CAGR of 5.3%.
Which are the prominent players in the market?
-
The prominent players in the market are Hohenstein, SGS, Bureau Veritas, Eurofins Scientific, TUV Rheinland, TUV-SUD, Intertek Group, Testex, QIMA, STC..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 5.3% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Testing Inspection and Certification (TIC) include
- The quality of the products help companies for not only gaining the satisfaction of customer but also the retention by reducing the risk and expenses associated with product recalls. Companies gain a good competitive edge while following quality management standards. With this, major certifications are offered by credible authorities to improve the business creditability with overall efficiency. Owing to these advantages the global testing inspection and certification (TIC) for oil & gas market is expected to grow during the forecast period.
- The increase in number of international imports and exports, and application in industries like consumer electronics, food and beverage, agriculture, and automotive, is also supporting the growth of the market in the years to come.
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Testing Inspection and Certification (TIC) in 2020.
