Global Testing, Inspection, and Certification Market to Grow as Governments Show Resilience in Stipulating Industrial Safety Standards - TMR

ALBANY, N.Y., Dec. 24, 2020 /PRNewswire/ -- The demand within the global testing, inspection, and certification market is set to touch unprecedented heights in the years to follow. The quest of leading industries to maintain a robust systems of quality checks and certifications has driven demand within the global market. Moreover, governments across the globe have shown resilience in managing critical industries. The need for ensuring safety and seamless control over the operations of mission-critical activities in industries and sectors has played a vital role in propelling sales across the global testing, inspection, and certification market. Besides, use of quality certifications as a part of marketing and promotion efforts of companies has also given a thrust to market expansion.

The total value of the global testing, inspection, and certification market is set to touch by the end of US$ 367,336.4 Mn by the end of 2027. The value generated across this market is a function of the efforts made by industrial heads in elevating the bar of quality checks on products and services. The CAGR of the global testing, inspection, and certification market for the period between 2020 and 2027 is tabulated at 8.0%. The stellar CAGR of the global testing, inspection, and certification market can be attributed to the use of quality certifications across investment-heavy sectors and industries.

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Key Findings of Report

• Advancements in Food and Beverages Inspection

Cases of negligence with regard to testing of food products have caused alarm across several sections of the society. Consumer forums have shown immense grit in ensuring that the customers are aware of the ills of consuming unhealthy and adulterated food products. Besides, government entities are also employing testing technologies and systems to ensure safety and hygiene across the food industry. Henceforth, the global testing, inspection, and certification market is treading along a lucrative pathway in recent years. Furthermore, dedicated food inspection authorities have been set up across various verticals of the food industry.

• FDA Approvals are Preceded by Sound Quality Checks and Inspections

The Food and Drug Administration (FDA) in the U.S. is the pioneering body to ensure proper checks over drug manufacturing and drug approvals. The FDA follows a robust route for ensuring seamless quality checks, keeping pharmaceutical companies on their toes at all points in time. The use of high-end testing of active pharmaceutical ingredients and pharmaceutical excipients has given a thrust to the growth of the global testing, inspection, and certification market. FDA-defined standards have emerged as the core tenet of progress for various other drug manufacturers. The cost of drugs can increase due to the robust process employed for testing of pharmaceuticals. However, the relevance of the process is driving pharma companies to dedicate their investments towards this cause.

Analyze global Testing, Inspection, and Certification market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Global Testing, Inspection, and Certification Market: Growth Drivers

• Use of testing facilities across steel plants and other critical manufacturing units
• Stipulation of strict employee safety standards across industrial units pertaining to automobile and defense manufacturing
• Existence of government-approved certifications and standards, leading several companies to pursue these certifications
• Growing awareness about food and drug safety amongst the masses

Explore 202 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Testing, Inspection and Certification Market (Service Type - Testing and Inspection and Certification; Sourcing Type - In-house Sourcing and Outsourcing; Industry - Infrastructure and Construction, Transformational and Contract Manufacturing, Food and Beverages, Agriculture and Forest, Information Technologies, Chemical, Healthcare and Pharmaceutical, Transportation and Logistics, Travel and Tourism, Energy and Utilities, Water and Wastewater Management, Government, Education, Textile, and Cosmetics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2020 - 2027 at https://www.transparencymarketresearch.com/testing-inspection-certification-market.html

Global Testing, Inspection, and Certification Market: Key Companies

• ASTM International
• TUV SUD AG
• ALS Ltd.
• AsureQuality Ltd.
• DNV GL Group AS
• Underwriters Laboratories Inc
• DNV GL Group AS
• Lloyd's Register Group Limited

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Global Testing, Inspection, and Certification Market: Segmentation

Testing, Inspection and Certification Market, by Service Type

• Testing and Inspection
• Certification

Testing, Inspection and Certification Market, by Sourcing Type

• In-house Sourcing
• Outsourcing

Testing, Inspection and Certification Market, by Industry

• Infrastructure & Construction
• Transformational & Contract Manufacturing
• Food & Beverages
• Agriculture & Forest
• Information Technologies
• Chemical
• Healthcare & Pharmaceutical
• Transportation &Logistics
• Travel & Tourism
• Energy & Utilities
• Water & Wastewater Management
• Government
• Education
• Textile
• Cosmetics
• Others

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