Testing, Inspection and Certification (TIC) is a process performed to ensure that the manufactured products, component, component systems are adequate for the intended purpose
The Global Testing, Inspection, And Certification TIC For Mining Market witnessed a rapid growth in the historic period from 2016 to 2019 and is anticipated to witness significant growth during the forecast period.
Geographically, global Testing, Inspection, and Certification market are divided as North America, Europe, Asia-Pacific, and Latin America, the Middle East & Africa.
The global textile testing, inspection and certification market (TIC) is expected to reach USD 7,221.01 Million by 2020, at an estimated CAGR of 4.6% between 2015 and 2020. The textile TIC market is expected to be driven by introduction of new regulations and standards in the textile sector, technological innovations in the textile sector, and increase in the worldwide trading of textiles. Additionally, the market for textile certification is expected to grow at the highest CAGR of 8.1% during the forecast period due to the increase in trading of textiles.
Read here the latest updates on the Apparels, Footwear, and Leather Goods (AFL) Testing, Inspection, and Certification (TIC) Market Analysis published by CMI team
Global Testing, Inspection and Certification Market is estimated to reach $351 billion by 2024; growing at a CAGR of 5.5% from 2016 to 2024. Testing, inspection, and certification (TIC) services are majorly used in food & beverages sector to test the quality of food products to improve productivity and preserve consumers’ health. Various industries such as oil and gas, food and beverages, aerospace, textile and automotive are anticipated to pose a huge demand for TIC services in the near future.
Global Testing Inspection and Certification Market Analysis & Forecast to 2023 provide detailed analysis of the market structure, along with forecast of the various segments and sub-segments of the (TIC) market.
Testing, inspection, and certification is a service industry wherein, people, flexibility, workflow, and IT systems play a major role due to which, this industry is not capital intensive
According to Persistence Market Research, the Testing, Inspection, and Certification market is projected to reach US$ 249.7 billion in revenue by 2023, growing from US$ 238.06 billion in 2022. Driven by demand from the oil & gas, food and agriculture, consumer and retail, and industrial sectors, the market is expected to expand at a CAGR of 5.4%, reaching US$ 422.6 billion by 2033. To sustain this growth, effective waste management, eco-friendly markets, and policies are essential, as governments impose stricter norms and standards globally. In 2022, the top three countries held a collective market share of 30.1%.
Testing, Inspection and Certification Market with COVID-19 Impact Analysis by Service Type (Testing, Inspection, Certification), Sourcing Type (In-House, Outsourcing), Application and Geography
Advent of new technologies, increasing health safety measure, stringent environment norms have changed the entire industry outlook entirely with respect to the compliance of norms and regulations which ensure the safety of the individual, machines, buildings, etc. TIC plays a significant role to ensure products, infrastructure, services are met with the suggested standards and regulations in terms of safety and quality.
The global Electric Vehicle (EV) Testing, Inspection, and Certification (TIC) market size is expected to reach USD 1,938.4 Million in 2028 and register a revenue CAGR of 14.2% over the forecast period, according to the latest report by Emergen.
Testing, Inspection and Certification Market by Service (Testing, Inspection, Certification), Sourcing Type (In-House and Outsourced), Application (Consumer Goods and Retail, Construction and Infrastructure), and Geography
Global Testing, Inspection and Certification Market is estimated to reach $92.2 billion by 2024 from $57.6 billion in 2016 ; growing at a CAGR of 6.1% from 2016 to 2024
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The global Electric Vehicle (EV) Testing, Inspection, and Certification (TIC) market size is expected to reach USD 1,938.4 Million in 2028 and register a revenue CAGR of 14.2% over the forecast period, according to the latest report by Emergen.
The testing, inspection, and certification (TIC) services market size is expected to cross USD 300 billion by 2030. The growing rate of urbanization in both developed and developing economies has led to an increase in infrastructural requirements, leading to a rise in the demand for TIC solutions.
The aerospace & life sciences Testing, Inspection, and Certification (TIC) market is expected to grow from USD 30.45 billion in 2017 to USD 41.60 billion by 2023, at a CAGR of 5.34% between 2017 and 2023
The testing, inspection, and certification (TIC) services market size is expected to cross USD 300 billion by 2030. The growing rate of urbanization in both developed and developing economies has led to an increase in infrastructural requirements, leading to a rise in the demand for TIC solutions.
the aerospace & life sciences Testing, Inspection, and Certification (TIC) market is expected to reach USD 44.9 billion by 2025, at a CAGR of 4.75% between 2019 and 2025 from USD 30.5 billion in 2017
Testing Inspection and Certification (TIC) market players are focusing towards expanding their geographical presence in emerging markets. They are expanding their portfolio and geographical reach through acquisitions and expansion strategies. Emerging markets have been witnessing an increasing demand for TIC services.
The Textile Testing, Inspection and Certification (TIC) Market is expected to reach $7,221.01 million by 2020, growing at a CAGR of 4.6% between 2015 and 2020. https://www.marketsandmarkets.com/Market-Reports/textile-testing-inspection-certification-market-113497801.html
Asia Testing Inspection and Certification (TIC) Services Market Size to surpass USD 85 Billion By 2026.The APAC TIC service market is gaining traction owing to the increasing demand for testing services to ensure effective interoperability of connected devices in this region. Furthermore, the rise in trend of automated testing enables fast reliable and cost-effective automated interoperability testing, which helps businesses to create better connected products. Testing of hardware helps manufacturers to ensure that a device is working properly, perfectly fits in body of the target demographic and also make sure that it is compatible with other devices needed to run the simulation.
Request Sample of Report @ http://bit.ly/2DDde1G The TIC market is segmented based on service type, sourcing type, and application. By service type, the market is classified into testing services, inspection services, and others, which include training, consulting, auditing, project management, and asset integrity management services. Rising instances of product recall owing to the surge in use of sub-standard materials and faulty components are driving the growth of testing service segment.
Global Testing, Inspection, Certification Market Size 2017 by Type (Testing, Inspection, Certification), by Source (In-house, Outsourced) by Application (Consumer Goods, Food & Agriculture, Oil & Gas, Construction, Chemicals, Mining, Machinery, Transportation, Automotive, Power Generation, Government Services, Marine, Healthcare, Others (Finance, Process, etc.), by Region and Forecast 2018 to 2025
The global testing, inspection and certification (TIC) market is extremely valued. Globalization and execution of standard rules and regulations in product safety and efficiency are driving its development.
The report segments the certificate testing market on the basis of products and geography. The products segment is categorized as ‘Electronics and Automotive’ products. Complete report available @ http://www.rnrmarketresearch.com/testing-inspection-and-certification-tic-market-by-products-electronics-automotive-geography-apac-europe-north-america-south-america-and-row-global-forecast-to-2013-2020-market-report.html .
The factors such as new regulations and standards, outsourcing of the testing, inspection, and certification services, concern about product quality and safety, and globalization of the trade are driving the testing, inspection, and certification market.
Europe TIC Market by Sourcing type (In-house and Outsourced services), Service type (Testing, Inspection and Certification), Application (Consumer Goods and Retail, Automotive, Aerospace) and Country - Forecast to 2025
The aerospace & life sciences Testing, Inspection, and Certification (TIC) market is expected to grow from USD 30.45 billion in 2017 to USD 41.60 billion by 2023, at a CAGR of 5.34% between 2017 and 2023
According to the new market research report "Automotive TIC Market by Service Type (Testing, Inspection, Certification), Sourcing Type, Application (Vehicle Inspection, Electrical Systems, & Components), and Geography; Periodic Technical Inspection Market, by Region - Global Forecast to 2024", is expected to grow from USD 16.9 billion in 2019 to USD 22.1 billion by 2024, at a CAGR of 5.5%.
The growth of the automotive TIC market can be attributed to the increasing automobile production in emerging economies, growing inclination toward outsourcing TIC services, rising focus of governments to impose strict regulatory standards on the automotive industry, surging adoption of automotive electronics to maintain passenger and vehicle safety, augmenting awareness among consumers regarding product quality and safety, and increasing instances of vehicle recalls due to component failures. https://www.marketsandmarkets.com/Market-Reports/automotive-tic-market-175873215.html
Post COVID-19, The global automotive TIC market is expected to grow from USD 16.5 billion in 2020 to USD 20.4 billion by 2025; it is expected to grow at a CAGR of 4.3%.
The aerospace and life sciences TIC market is expected to grow from USD 31.3 billion in 2020 to USD 37.8 billion in 2025, at a CAGR of 3.8%. The primary reasons for this rise in demand are the increasing mandatory certification and amalgamation of new technologies in the manufacturing operations of aerospace and life sciences industry.
The Global Automotive TIC Services Market is expected to grow at a CAGR of 4.8% over the forecast period 2021-2027. The report study provides an overview of current statistics and future predictions of this Market.
The global automotive TIC market is expected to grow from USD 16.5 billion in 2020 to USD 20.4 billion by 2025; it is expected to grow at a CAGR of 4.3%.
The research study on Global TIC Services for Automotive Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024 by DecisionDatabases.com analyses the complete value chain of the Industry. https://www.decisiondatabases.com/ip/39109-tic-services-for-automotive-market-analysis-report
Homologation is a term utilized for approval process of vehicle or vehicle components for meeting the certain standards of regulatory bodies. Automotive Homologation Services is a part of automotive TIC (Testing, Inspection & Certification) which is essential for the specified vehicle or component to enter into novel market.
In Saudi Arabia, food safety is a serious issue. The majority of foods entering Saudi Arabia are subjected to rigorous inspection. Manufacturers and distributors must conform to several requirements to sell their products in the Middle East market. Applying for ISO 22000 certification in Saudi Arabia can be highly beneficial to people in the food industry.