Testing, Inspection, And Certification Market Worth $491.3 Billion by 2030: Grand View Research, Inc.

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Aug 10, 2022, 11:30 ET

SAN FRANCISCO, Aug. 10, 2022 /PRNewswire/ -- The global testing, inspection, and certification market size is expected to reach USD 491.3 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.0% from 2022 to 2030. The incremental deployment rates of testing, inspection, and certification systems and solutions can be accredited to the rise in manufacturing activities worldwide. Furthermore, the onset of Industry 5.0 and the rise in connected systems further augment the need to deploy TIC-based technologies in tandem with manufacturing activities. Thus, the manufacturing application segment is expected to expand at a significant growth rate over the forecast period due to the need to optimize manufacturing processes and end products. For instance, in January 2022, SGS, a Swiss international business that provides inspection, verification, testing, and certification services, launched a new Vehicle Over the Air (OTA) performance testing laboratory in Suzhou, China.

The lab will assist automotive manufacturers in helping them test, validate, and comply with evolving wireless standards and regulations. It fully integrates beneficial resources in automobile, communication, electronics, and reliability testing to provide commercial customers with technical verification, quality improvement product certification, and technology development services.

Key Industry Insights & Findings from the report:

By service type, the certification segment is expected to emerge as the fastest-growing segment over the forecast period. The segment growth can be attributed to the increasing need among companies to certify their business practices use the right talent for specialized work.
The outsourced sourcing type segment is expected to register the highest CAGR over the forecast period owing to the ability to access more affordable TIC products and solutions and decrease operational expenditure.
The manufacturing application segment is expected to register a significant growth rate over the forecast period owing to the rising industrial activity around the world and the development of new machine components, which need to be tested and inspected before deployment.
Asia Pacific is expected to dominate the market over the forecast period. This can be attributed to the rising economic activity in China and India. The implementation of Bharat Stage 6 in India has led automotive developers to develop new automotive components, which have to be tested rigorously to meet the international standards.

Read 153-page full market research report, "Testing, Inspection, And Certification Market Size, Share & Trends Analysis Report By Service Type (Testing, Inspection, Certification), By Sourcing Type, By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Testing, Inspection, And Certification Market Growth & Trends

The integration of cloud technology with the Testing, Inspection, And Certification (TIC) market is one of the significant market drivers. The need to access data instantly, automate certification and issue reports on a real-time basis highlights the importance of storing essential TIC-related data in the cloud. Moreover, cybersecurity concerns such as increasing instances of cyberattacks and data privacy threats further highlight the importance of a safe cloud architecture to safeguard data from people with malicious intent. This is expected to help in general data regulation, security certifications, and software testing. For instance, in February 2022, Intertek Group plc, one of the prominent providers in connectivity testing and cybersecurity, established its Acucert, the first ISO/IEC certified cybersecurity testing lab in Mumbai, India. Acucert has significant expertise in IT system and software testing while meeting stringent quality control standards. Further, opening a new testing lab would help them promote internationally and nationally.

The gradual acceptance of big data analytics with the TIC-based technology model is also expected to offer an impetus to the TIC market. The adoption of big data analytics technology by service providers is expected to diversify their service offerings, such as data-based services and predictive maintenance data, and enable service providers to offer better solutions to their customers. For instance, in September 2021, TÜV SÜD, a safety, security, and sustainability solutions provider, offered wind turbine certification for areas affected by tropical storms. Within the scope of type certification, the company has designed a computer framework to analyze the data of the areas and check compatibility for these regions based on the worldwide IEC 61400 standard. The computer model allows for the simulation of even the most extreme wind conditions in tropical cyclone-prone areas and the use of this simulation to determine if a wind turbine is suited for such places.

The Asia Pacific region is expected to register the highest growth rate over the forecast period. Rapid industrialization and rising infrastructure development in Australia, South Korea, and India facilitate deploying proficient TIC solutions. Furthermore, the emerging technology ecosystem in countries such as Japan and China has resulted in several companies outsourcing their software and product development tasks. The ability to gain high-performance products at affordable rates from these countries promotes companies to access TIC solutions and services related to specific needs and requirements, thereby offering an impetus to market growth. For instance, in December 2021, Eurofins Scientific, a global scientific leader in bioanalytical testing and a clinical diagnostic testing leader with Transgenic Inc., announced the acquisition of GeneticLab Co., Ltd., a molecular biology-based testing vendor. This acquisition will assist the company in strengthening its position in the Japanese market. It would further expand the company's global presence in Asia, specializing in advanced genetic testing.

Testing, Inspection, And Certification Market Segmentation

Grand View Research has segmented the global testing, inspection, and certification market based on service type, sourcing type, application, and region:

Testing, Inspection, and Certification (TIC) Service Type Outlook (Revenue, USD Billion, 2017 - 2030)

Testing
Inspection
Certification

Testing, Inspection, and Certification (TIC) Sourcing Type Outlook (Revenue, USD Billion, 2017 - 2030)

In-house
Outsourced

Testing, Inspection, and Certification (TIC) Application Outlook (Revenue, USD Billion, 2017 - 2030)

Consumer Goods & Retail
Agriculture & Food
Chemicals
Infrastructure
Energy & Power
Education
Government
Manufacturing
Healthcare
Mining
Oil & Gas and Petroleum
Public Sector
Automotive
Aerospace & Defense
Supply Chain & Logistics
Others

Testing, Inspection, and Certification (TIC) Regional Outlook (Revenue, USD Billion, 2017 - 2030)

North America

U.S.
Canada
Mexico

Europe

Germany
U.K.
France
Italy
Russia

Asia Pacific

China
India
Japan
South Korea
Australia

South America

Argentina
Brazil

Saudi Arabia
UAE

List of Key Players in Testing, Inspection, and Certification (TIC) Market

ALS Limited
Applus+
Bureau Veritas SA
DEKRA SE
DNV GL
Element Materials Technology
Eurofins Scientific
Intertek Group plc
MISTRAS Group, Inc.
SGS SA
TÜV NORD GROUP
TÜV Rheinland
TÜV SUD
UL LLC

Check out more related studies published by Grand View Research:

China Testing, Inspection, And Certification Market - The China testing, inspection, and certification market size is anticipated to reach USD 69.75 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2022 to 2030. The high standard of living of Chinese citizens and increased focus of customers on the quality and safety of food products and consumer goods such as toys, personal care & beauty products, and electrical & electronic appliances are driving the growth of the China testing, inspection, and certification (TIC) market. Further, an increase in outsourcing of testing, inspection, and certification services by prominent companies operating in the manufacturing, automotive, and consumer goods application areas is projected to boost the growth.
Automated Optical Inspection Systems Market - The global automated optical inspection systems market size is anticipated to reach USD 2.3 billion by 2027, expanding at a CAGR of 18.7%, according to a study conducted by Grand View Research, Inc. Automated optical inspection systems are used for the inspection of printed circuit boards (PCBs). These systems enable fast and accurate inspection of the PCB's and ensure that a quality product leaves the production line. The growth of this market is attributed to increasing demand for consumer electronics, achieving higher productivity in electronic manufacturing services, and high-quality electronic systems for automotive and aerospace systems. Furthermore, rising faults and time consumption in manual inspection techniques for printed circuit boards are expected to increase the adoption of AOI system.
System Integration Market - The global system integration market size is expected to reach 955.21 billion by 2030, expanding at a CAGR of 13.2% from 2022 to 2030, according to a recent report by Grand View Research, Inc.,. The rising inclination towards cloud computing, demand for virtualization, and demand for low-cost and energy-efficient production processes are key factors that have positively influenced the industry growth. Automation technologies such as robotics and additive manufacturing (3D printing) can transform work patterns in both developed and emerging economies. Furthermore, due to high demand for these solutions, industries have realized the importance of modernizing the existing production facility. These factors are expected to propel the industry growth in the near future.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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