Testing, Inspection and Certification (TIC) Market worth 113.24 Billion USD by 2022

Testing, Inspection and Certification (TIC) Market by Type (Testing, Inspection, & Certification), Sourcing Activity (In-House and Outsourced), End-User Industry (Environmental, Consumer Goods, Manufacturing), and Geography
By: Marketsandmarkets
 
PUNE, India - Sept. 7, 2016 - PRLog -- According to the new market research report "Testing, Inspection and Certification (TIC) Market by Type (Testing, Inspection, & Certification), Sourcing Activity (In-House and Outsourced), End-User Industry (Environmental, Consumer Goods, Manufacturing), and Geography - Global Forecast to 2022", the TIC market is expected to reach USD 113.24 Billion by 2022, growing at a CAGR of 5.15% between 2016 and 2022. The major factors driving the growth of the TIC market include the increasing number of new regulations and standards in end-user industries, rising trend of outsourcing TIC services to third-party service providers, formulation of stringent regulations and standards to ensure the quality and safety of products, increasing product diversification, and global trading of products & growth of distributed manufacturing.

Browse 115 market data Tables and 100 Figures spread through 227 Pages and in-depth TOC on "Testing, Inspection and Certification (TIC) Market - Global Forecast to 2022".
Early buyers will receive 10% customization on this report.

PDF Sample Download @
http://www.marketsandmarkets.com/pdfdownload.asp?id=5352498

"The TIC market for the consumer goods end-user industry to hold the largest market share by 2022"

Governments have formulated stringent regulations and standards to ensure the quality and safety of products and there is increasing awareness among consumers regarding the quality of consumer goods. These products have become essential in everyday life and are manufactured keeping in mind the regulations specified by government bodies to guarantee product safety. The increasing demand for consumer goods leads to a greater requirement of testing, inspection, and certification services to ensure the product quality and safety.

"Trend of outsourcing TIC to third-party vendors is expected to grow rapidly during the forecast period"

The market for outsourced TIC is served by a variety of independent service providers whose primary business activity is providing TIC services. Also, the major industries mainly outsource these services to third-party providers to reduce costs as the increasing regulations make it more costly to conduct these tests in-house.

"APAC expected to grow at the highest rate during the forecast period"

The APAC market has emerging economies such as India and China. Considering the overall scenario, the region is expected to see strong growth in all sectors as governments enforce stringent legislation to ensure health and safety compliance. TIC services in end-user industries such as agriculture, consumer goods, and electrical goods are likely to continue to show strong growth. With the growing disposable income in the region, the number of vehicles in use is also expected to increase. Thus, vehicle testing would have a strong demand, especially in countries such as China and India. The industrial growth in China and India would also increase the demand for industrial infrastructure and TIC services as industrial plants are built with strict energy efficiency mandates.

The major companies involved in the development of TIC market include SGS Group (Switzerland), Bureau Veritas S.A. (France), Intertek Group plc (U.K.), TÜV SUD Group (Germany), Dekra Certification GmbH (Germany), ALS Limited (Australia), ASTM International (U.S.), BSI Group (U.K.), Exova Group plc (U.K.), TÜV Rheinland Group (Germany), TÜV Nord Group (Germany), SAI Global Limited (Australia), Eurofins Scientific (Luxembourg), MISTRAS Group, Inc.(U.S.), and UL LLC (U.S.) among others.

Request Sample Copy @ http://www.marketsandmarkets.com/requestsample.asp?id=5352498

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan

Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com

Contact
Marketsandmarkets
***@gmail.com
End
Source:Marketsandmarkets
Email:***@gmail.com
Tags:TIC Market
Industry:Technology
Location:Pune - Maharashtra - India
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Research Reports PRs
Trending News
Most Viewed
Top Daily News



Like PRLog?
9K2K1K
Click to Share