Companies and enterprises are increasingly looking for safe and effective testing, inspection and certification practices. This is driving the market growth in testing, certification and inspection (TIC). Companies can be sure to maintain high quality standards, ensure maximum productivity and maximize efficiency with effective inspection and testing practices. Companies can use TIC practices to tailor their supply chains to meet their specific needs and preferences, simplifying their business processes. Temasek, an investment firm based in Singapore that focuses on restructuring and growth capital and divestment deals announced the acquisition by Element Materials Technology in January 2022. This prominent provider of certification, testing and inspection services was a leading provider. This acquisition is a landmark in the Group’s expansion and a significant deal within the TIC industry.
There are promising growth opportunities for the industry due to the growth in the transport and logistics sector. This is due to the increasing importance of global trade and the necessity to implement intelligent logistics systems in companies. This allows TIC solutions to be deployed to expedite the delivery of goods and products throughout the value chain. Regional governments are making constant efforts to improve transport facilities by increasing the frequency of public transportation and improving safety, which encourages the establishment of a well-organized TIC ecosystem. Bureau Veritas acquired PreScience Corporation in January 2022. This was a well-known provider of inspection, testing and certification services. It is a provider of construction management services in the U.S., which will be used to manage transportation infrastructure projects. This acquisition would allow Bureau Veritas to expand its presence in the transportation sector, including testing and inspection. It also provides transportation infrastructure that is safe and sustainable.
The TIC market has been severely disrupted by the COVID-19 pandemic. COVID-19 has resulted in a reduction of manufacturing and production activities across many regions. This was due to lockdowns being implemented by many national governments. The healthcare sector saw significant TIC activities due to the growing demand for healthcare services and related products. Due to the increasing demand for safe and quality food products, the consumer goods sector also adopted TIC practices during pandemic. DNV, a global assurance and risk management company, announced in January 2022 that it had purchased MEDCERT, a German notified body, in order to increase its capabilities in healthcare and medical device insurance. The acquisition will significantly increase DNV’s ability to provide additional medical device notification services.
Global TIC markets have significant growth potential due to rising infrastructure and renewable energy generation projects. In many developed and developing countries, infrastructure development has increased due to rising urbanization. Planners and decision-makers are encouraged to use TIC-related solutions that improve safety and ensure quality in infrastructure projects. Renewable energy projects like solar energy and wind require highly specialized equipment that must function at maximum efficiency. This is why effective TIC systems are essential to ensure the proper functioning of machine components. In October 2021, UL LLC (a global safety certification firm) announced the creation of a laboratory for testing cable fire safety. It is located in Abu Dhabi, an industrial city. The facility provides access to a local fire safety laboratory for distributors and manufacturers of optical and electronic cables, and buses from the Middle East.
Produces can improve their productivity and meet international standards by using testing, inspection and certification services. These services, which include testing, inspection, verification, validation, certification, auditing, consulting; technical assistance, training; environmental quality; safety; asset integrity management; project management services; and technical assistance and coaching, can be used for any product, service or process regardless of its sector. There has been a significant increase in demand for high-quality products. This means that it is important to ensure that manufactured products comply with all safety and quality regulations.
With a wide range of market players located in different regions and localities, the global testing, inspection and certification market is fragmented. Less than 20% of the global market is represented by the top 10 companies in the testing, inspection and certification ecosystem. The growth of the global testing, certification, and inspection market will also be driven by the medical, life sciences applications, followed closely by agriculture, food, consumer goods, and retail applications. This market is growing due to the adoption advanced technologies in the industrial and healthcare electronics and consumer electronics sectors, as well as the introduction of new services such remote auditing, virtual inspections, and visual inspection in the middle COVID-19 pandemic.
Scope of the report @ https://market.us/report/testing-inspection-and-certification-market/
Here is List of BEST KEY PLAYERS Listed in Testing, Inspection and Certification Market Report are:
Bureau Veritas S.A.
Intertek Group PLC
TUV SUD Group
Dekra Certification GmbH
Exova Group PLC
TUV Rheinland A.G.
TUV Nord Group
Testing, Inspection and Certification Market Segmentation:
Testing, Inspection and Certification Market is segmented in various types and applications according to product type and category. In terms of Value and Volume the growth of market calculated by providing CAGR for forecast period for year 2022 to 2032.
Most Important Types of Testing, Inspection and Certification Market are covered in this Report:
Testing, Inspection and Certification Market Product Applications:
Top countries data covered in this report:
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)