The global consumer product safety testing market was valued at $33,052.7 million in 2021, and is projected to reach $60,503.1 million by 2031, registering a CAGR of 6.32% from 2022 to 2031.Consumer product safety testing is a service designed to offer inspection, auditing, verification, testing, and certification of consumer products.
Key factors that drive growth of the consumer product safety testing market include increase in focus of manufacturing companies to improve customer retention by offering quality products and surge in demand for interoperability testing for connected devices and IoT. Key factors that hampers growth of the market is high cost of product safety testing services, due to diverse standards and regulations across different regions. The opportunity lies in the digital transformation of customer services and rapid adoption of breakthrough technologies.
The consumer product safety testing market is segmented on the basis of offering, sourcing type, industry vertical, and region. By offering, the market is divided into electromagnetic compatibility, electrical safety, connectivity, electronics testing, energy efficiency testing and others. By sourcing type, the market is bifurcated into in-house, and outsource. By industry vertical, the market is analyzed across communications, semiconductors, aerospace and defense, consumer electronics, automotive, healthcare, industrial, food and beverages and others.Regionwise, the radio headset markettrends are analyzed across North America (the U.S., Canada, and Mexico), Europe (U.K., Germany, France, Italy, Spain, Russia, Poland and rest of Europe), Asia-Pacific China, Japan, India, South Korea, Philippines, Australia, Indonesia and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the marketincludeABS Group Of Companies, Inc, ALS Limited, BSI, Bureau Veritas S.A, Dekra, DNV, Element Materials Technology (Element), Intertek Group Plc, ISO, TUV SUD AG, Eurofins Electrical & Electronics (E&E), National Technical Systems, Inc, HQTS Group Ltd, AMA Laboratories Inc., Applied Technical Services, LLC, NSL Analytical Services, Inc. and QIMA.
Key factors that drive growth of the consumer product safety testing market include increase in focus of manufacturing companies to improve customer retention by offering quality products and surge in demand for interoperability testing for connected devices and IoT. Key factors that hampers growth of the market is high cost of product safety testing services, due to diverse standards and regulations across different regions. The opportunity lies in the digital transformation of customer services and rapid adoption of breakthrough technologies.
The consumer product safety testing market is segmented on the basis of offering, sourcing type, industry vertical, and region. By offering, the market is divided into electromagnetic compatibility, electrical safety, connectivity, electronics testing, energy efficiency testing and others. By sourcing type, the market is bifurcated into in-house, and outsource. By industry vertical, the market is analyzed across communications, semiconductors, aerospace and defense, consumer electronics, automotive, healthcare, industrial, food and beverages and others.Regionwise, the radio headset markettrends are analyzed across North America (the U.S., Canada, and Mexico), Europe (U.K., Germany, France, Italy, Spain, Russia, Poland and rest of Europe), Asia-Pacific China, Japan, India, South Korea, Philippines, Australia, Indonesia and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the marketincludeABS Group Of Companies, Inc, ALS Limited, BSI, Bureau Veritas S.A, Dekra, DNV, Element Materials Technology (Element), Intertek Group Plc, ISO, TUV SUD AG, Eurofins Electrical & Electronics (E&E), National Technical Systems, Inc, HQTS Group Ltd, AMA Laboratories Inc., Applied Technical Services, LLC, NSL Analytical Services, Inc. and QIMA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the consumer product safety testing market analysis from 2021 to 2031 to identify the prevailing consumer product safety testing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the consumer product safety testing market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global consumer product safety testing market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Offering
- Electrical Safety
- Connectivity
- Electronics Testing
- Energy Efficiency Testing
- Others
- Electromagnetic Compatibility
By Sourcing
- In House
- Outsource
By Industry Vertical
- Communications
- Semiconductor
- Aerospace and Defense
- Consumer Electronics
- Automotive
- Healthcare
- Industrial
- Food and Beverages
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Poland
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Philippines
- Australia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ABS
- Bureau Veritas SA
- DEKRA
- DNV
- Element Materials Technology
- Intertek Group PLC
- ISO
- TUV
- als limited
- bsi group
- Eurofins E&E
- NTS
- HQTS Group Ltd.
- AMA Laboratories
- Applied Technical Services, LLC
- nsl analytical services, inc.
- qimarox
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CONSUMER PRODUCT SAFETY TESTING MARKET, BY OFFERING
CHAPTER 5: CONSUMER PRODUCT SAFETY TESTING MARKET, BY SOURCING
CHAPTER 6: CONSUMER PRODUCT SAFETY TESTING MARKET, BY INDUSTRY VERTICAL
CHAPTER 7: CONSUMER PRODUCT SAFETY TESTING MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
Consumer product safety testing are the services ranging from audit and inspection to testing, verification, quality assurance, and certification of products and equipment. Some of the key testing services include quality and safety controls through conformity assessments. This help increases efficiency of products & services and minimizes the risk. Consumer product safety testing services are applicable in oil & gas, automotive, consumer electronics, and other sectors.Key factors that drive growth of the consumer product safety testing market share include increasing focus of manufacturing companies to improve customer retention by offering quality products and surge in demand for interoperability testing for connected devices and IoT. Key factors that hamper growth of this market is high cost of product safety testing services, due to diverse standards and regulations across different regions. The opportunity lies in digital transformation of customer services and rapid adoption of breakthrough technologies.
According to the consumer product safety testing market analysis, the in-house segment was the highest contributor in 2021, owingto surge in adoption of consumer product safety testing solution across emerging economies. Consumer electronics and food and beverages segments collectively accounted for around 37.0% market share in 2021. Surge in adoption of next generation safety and security solution is significantly boost growth of consumer product safety testing industry across consumer electronics and foods & beverages sectors; thereby, enhancing the consumer product safety testing market growth.
The outbreak of COVID-19 has significantly impacted the consumer product safety testing market size, owing to significant impact on prime market players. Conversely, rise in demand for next generation consumer product safety testing solution is anticipated to drive the market post pandemic. However, lack of availability of a professional workforce due to partial and complete lockdown implemented by governments restrain growth of the consumer product safety testing market. On the contrary, emerging economies significantly witness the need for consumer electronics and foods & beverages solutions, which is expected to boost the market growth.
Country wise, U.S. holds a significant share in the consumer product safety testing market, owing to presence of prime players. Adoption of next-generation state of the art radio communication solution and devices across prime sectors has strengthened growth of the consumer product safety testing market in the region.
Key Findings of the Study
- In 2021, the in-house segment accounted for maximum revenue, and is projected to grow at a notable CAGR of 5.44% during the forecast period.
- The consumer electronics and foods & beverages segment together accounted for around 37.0% of the consumer product safety testing market trends in 2021.
- The foods & beverages segment are projected to growth at a CAGR of 5.57% during the forecast period.
- North America contributed for the major share in the consumer product safety testing market, accounting for more than 33.0% share in 2021.
- Key players profiled in the report includeABS Group Of Companies, Inc, ALS Limited, BSI, Bureau Veritas S.A, Dekra, DNV, Element Materials Technology (Element), Intertek Group Plc, ISO, TUV SUD AG, Eurofins Electrical & Electronics (E&E), National Technical Systems, Inc, HQTS Group Ltd, AMA Laboratories Inc., Applied Technical Services, LLC, NSL Analytical Services, Inc., and QIMA. Market players have adopted various strategies, such as product launch, collaboration& partnership, joint venture, and acquisition to expand their foothold in the consumer product safety testing market.
Companies Mentioned
- Abs
- Bureau Veritas Sa
- Dekra
- Dnv
- Element Materials Technology
- Intertek Group plc
- Iso
- Tuv
- Als Limited
- Bsi Group
- Eurofins E&E
- Nts
- Hqts Group Ltd.
- Ama Laboratories
- Applied Technical Services, LLC
- Nsl Analytical Services, Inc.
- Qimarox
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 419 |
| Published | August 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 33052.7 million |
| Forecasted Market Value ( USD | $ 60503.1 million |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
