The Asia Pacific Testing, Inspection and Certification (TIC) Market is projected to witness market growth of 4.7% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Testing, Inspection and Certification (TIC) Market by country in 2023, and is projected to continue to be a dominant market till 2031; thereby, achieving a market value of $38.59 billion by 2031. The Japan market is registering a CAGR of 4.4% during 2024-2031. Additionally, the India market would showcase a CAGR of 5.2% during 2024-2031.
Technological advancements have significantly impacted the market, introducing both opportunities and challenges. Integration of technologies like the Internet of Things (IoT), artificial intelligence (AI), and blockchain has revolutionized TIC services.
Moreover, the significance of TIC services concerning these emerging innovations is elevated by the requirement to guarantee data security and prevent passenger and bystander injuries from autonomous vehicles.
Countries in this region are experiencing significant expansions in manufacturing, construction, and technology sectors, which drive the demand for TIC services. The market is supported by a strong emphasis on quality, safety, and compliance and the need to meet international standards to facilitate trade. The consumer goods, retail, and food and beverage industries have increased their demand for testing services, which has supported the growth of the testing, inspection and certification (TIC) market.
Based on Service Type, the market is segmented into Testing, Inspection, and Certification. Based on Sourcing Type, the market is segmented into In-house and Outsourced. Based on Application, the market is segmented into Consumer Goods & Retail, Agriculture & Food, Chemicals, Infrastructure, Manufacturing, Medical & Lifesciences, Mining, Oil & Gas, Automotive, Public Sector, and IT, Telecom & Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The China market dominated the Asia Pacific Testing, Inspection and Certification (TIC) Market by country in 2023, and is projected to continue to be a dominant market till 2031; thereby, achieving a market value of $38.59 billion by 2031. The Japan market is registering a CAGR of 4.4% during 2024-2031. Additionally, the India market would showcase a CAGR of 5.2% during 2024-2031.
Technological advancements have significantly impacted the market, introducing both opportunities and challenges. Integration of technologies like the Internet of Things (IoT), artificial intelligence (AI), and blockchain has revolutionized TIC services.
Moreover, the significance of TIC services concerning these emerging innovations is elevated by the requirement to guarantee data security and prevent passenger and bystander injuries from autonomous vehicles.
Countries in this region are experiencing significant expansions in manufacturing, construction, and technology sectors, which drive the demand for TIC services. The market is supported by a strong emphasis on quality, safety, and compliance and the need to meet international standards to facilitate trade. The consumer goods, retail, and food and beverage industries have increased their demand for testing services, which has supported the growth of the testing, inspection and certification (TIC) market.
Based on Service Type, the market is segmented into Testing, Inspection, and Certification. Based on Sourcing Type, the market is segmented into In-house and Outsourced. Based on Application, the market is segmented into Consumer Goods & Retail, Agriculture & Food, Chemicals, Infrastructure, Manufacturing, Medical & Lifesciences, Mining, Oil & Gas, Automotive, Public Sector, and IT, Telecom & Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- SGS S.A.
- Bureau Veritas S.A.
- Intertek Group PLC
- Eurofins Scientific SE
- TÜV Rheinland AG
- Applus+ Group
- TÜV Nord Group
- DEKRA SE
- TÜV SUD
- DNV AS
Market Report Segmentation
By Service Type
- Testing
- Inspection
- Certification
By Sourcing Type
- In-house
- Outsourced
By Application
- Consumer Goods & Retail
- Agriculture & Food
- Chemicals
- Infrastructure
- Manufacturing
- Medical & Lifesciences
- Mining, Oil & Gas
- Automotive
- Public Sector
- IT, Telecom & Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Testing, Inspection and Certification (TIC) Market by Service Type
Chapter 6. Asia Pacific Testing, Inspection and Certification (TIC) Market by Sourcing Type
Chapter 7. Asia Pacific Testing, Inspection and Certification (TIC) Market by Application
Chapter 8. Asia Pacific Testing, Inspection and Certification (TIC) Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- SGS S.A.
- Bureau Veritas S.A.
- Intertek Group PLC
- Eurofins Scientific SE
- TÜV Rheinland AG
- Applus+ Group
- TÜV Nord Group
- DEKRA SE
- TÜV SUD
- DNV AS
Methodology
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