Global Testing, Inspection, And Certification Services Market Research 2022-2030 Going to Boom
The Latest research study released by Absolute Markets Insights Testing, Inspection, And Certification Services Market with 100+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps in identifying the importance of different factors that aid the market growth.In terms of revenue, global testing, inspection, and certification services market was valued at US$ XX Mn in 2022 and is anticipated to reach US$ XX Mn in 2030, growing at a CAGR of XX% over the forecast period. Some of the Major Companies covered in this Research are: ALS Limited, BSI Group, Bureau Veritas SA, Dekra Certification GmbH, DNV GL, DQS CFS GmbH, Element Materials Technology, Eurofins Scientific SE, Intertek Group plc, Lloyd's Register Group Services Limited., MISTRAS Group, Inc., SAI Global Limited, SGS SA, TÜV Rheinland, TÜV SÜD, and UL LLC amongst others.
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Global Testing, Inspection, and Certification Services Market:
By Type
- In-house Services
- Outbound Services
By Services
- Testing
- Inspection
- Certification
- Others
By End Use Industry
- Consumer Goods and Retail
- Food and Agriculture
- Government
- Oil and Gas
- Construction and Engineering
- Manufacturing
- Marine & Offshore
- Chemicals
- Aerospace
- Automotive
- Energy and Utilities
- Healthcare & Pharmaceutical
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Government entities across the globe are amending the regulations related to product and process quality for ensuring high safety of consumers and operators which is driving the demand for testing, inspection, and certification services.
The prevalence of low quality products and operations has led to high loss of wealth and life in multiple events worldwide. The Hindenburg airship disaster, Chernobyl nuclear plant accident, Bhopal gas plant tragedy and many others have taken a toll on thousands of lives and caused huge economic losses. These incidents have led to imposition of stringent regulations regarding quality of components and processes and also the facilities. The growing globalization trend has brought accessibility to the products from international markets which create need for standardization of products and services to facilitate interchangeability and global acceptance. This trend is further pushing government agencies to mandate certain certifications for ensuring standardization. Governments are also encouraging small and medium sized enterprises to take upon international certification by providing subsidies and incentives. For instance, the Indian Ministry of Micro, Small and Medium Enterprises announced in August 2019, an ISO 9000/ISO 14001 Certification Reimbursement scheme for enhancing the competitive strength of SMEs. Thus, the amendments in government regulations to ensure high safety and standardization across all products, services, operations and facilities is driving the demand of global testing, inspection, and certification services market.
Technological transformation is redefining the way testing, inspection and certification activities are managed, while improving the safety of inspectors on the field. Drones, robots and sensors are witnessing high application in the field of testing and inspection. Robots crawlers enable to perform repetitive observation tasks in dangerous or difficult environments whereas drones can assist in safe monitoring of long distance assets including transmission networks. For instance, Mitsui O.S.K. Lines, a shipping company from Japan, partnered with Sekido Co., Ltd. in February 2019 to perform inspection of submerge hull with remotely operated subsea vehicle (subsea ROV). Further inclusion of advanced digital technologies such as analytics, artificial intelligence, cloud, digital twins and others are giving rise to next generation inspection services. Intelligent algorithms are capable of analyzing huge sets of data and monitor systems in real-time to predict the issues before they occur which gives rise to the trend of analytics-based inspection. Bureau Veritas SA partnered with Avitas Systems of General Electric in December 2017, to develop testing and inspection services which harness the power of cloud, artificial intelligence and automated data collection techniques. Digital twin is another upcoming technology which reduces the wastage of material and high costs associated with the physical destructive testing of materials and components. Major market participants are monetizing on this opportunity to cater more efficiently to the changing demand conditions. As an instance, Applus+ launched its digital twin technology in July 2018 by developing a 3D digital twin model of an emergency flare tower at the Karratha Gas Plant (KGP) in Australia to determine critical measurements. Hence, as technological advancements and digitization gathers pace in future years, the global testing, inspection, and certification services market is anticipated to witness lucrative growth opportunities.
The recent outbreak of COVID-19 pandemic has inflated the requirement of medical equipment and consumables. But the penetration of low quality, unchecked products in the market is causing concerns. For instance in March 2020, the Dutch government recalled the thousands of face masks delivered from China as they did not meet quality standards. In order to tackle this situation, China tightened the quality inspections on masks to be exported and mandated an inspection check by customs department. Thus, growing demand for quality medical products amidst coronavirus pandemic is anticipated to drive the growth of global testing, inspection, and certification services market.
Testing, Inspection, And Certification Services Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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