The Global Testing, Inspection and Certification (TIC) Market size is expected to reach $331 billion by 2031, rising at a market growth of 4.3% CAGR during the forecast period.
With rapid urbanization and infrastructure development, especially in emerging economies, the demand for TIC services in this sector has grown substantially. TIC providers conduct essential services such as material testing, structural inspections, and compliance assessments to ensure that infrastructure projects meet safety regulations and quality standards. Large-scale projects like bridges, highways, and commercial buildings require rigorous inspection and certification processes to mitigate risks and ensure long-term safety and durability, driving revenue in this segment. Thus, the infrastructure segment acquired 13% revenue share in the market 2023.
The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2022, Bureau Veritas partnered with NAPA, the provider of maritime software, services, and data analysis. This partnership allows highly effective and widespread usage of 3D models in the class approval process. Additionally, both companies would seek to enhance the complete efficiency and accuracy of future vessel development and solve the present challenges related to 2D drawings. In August, 2022, Intertek signed an agreement with the Tanzania Bureau of Standards, a government department. This agreement aims to continue to support Intertek's Pre-Shipment Verification of Conformity (PVoC) program for exports to the nation. The PVoC was implemented by the Tanzania Bureau of Standards to verify the safety and quality of all regulated products being exported to Tanzania across the country of supply.
Based on the Analysis presented in the KBV Cardinal matrix; Eurofins Scientific SE, SGS S.A. and Bureau Veritas S.A. are the forerunners in the Testing, Inspection and Certification (TIC) Market. Companies such as DEKRA SE, DNV AS and Intertek Group PLC are some of the key innovators in Testing, Inspection and Certification (TIC) Market. In April, 2023, DEKRA partnered with LatticeFlow, a company engaged in AI development and deployment platform for continuously enhancing model performance. Under this partnership, both DEKRA and LatticeFlow would offer AI safety assessments for business clients. The combined portfolio would offer the industry's first AI model assessment service, backed by the ISO standards for model robustness and data quality.
Additionally, Governments and regulatory bodies are enforcing more stringent regulations across various industries, including pharmaceuticals, food and beverages, and consumer electronics, driving the demand for TIC services to ensure compliance.
The Testing, Inspection, and Certification (TIC) market is highly competitive, characterized by stringent regulatory standards and increasing complexity in global supply chains. Key attributes include a growing emphasis on product safety, quality assurance, and compliance across various industries such as automotive, healthcare, and consumer goods. Market players compete on technological innovation, service breadth, and global presence to meet diverse client needs and regulatory requirements efficiently.
With rapid urbanization and infrastructure development, especially in emerging economies, the demand for TIC services in this sector has grown substantially. TIC providers conduct essential services such as material testing, structural inspections, and compliance assessments to ensure that infrastructure projects meet safety regulations and quality standards. Large-scale projects like bridges, highways, and commercial buildings require rigorous inspection and certification processes to mitigate risks and ensure long-term safety and durability, driving revenue in this segment. Thus, the infrastructure segment acquired 13% revenue share in the market 2023.
The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2022, Bureau Veritas partnered with NAPA, the provider of maritime software, services, and data analysis. This partnership allows highly effective and widespread usage of 3D models in the class approval process. Additionally, both companies would seek to enhance the complete efficiency and accuracy of future vessel development and solve the present challenges related to 2D drawings. In August, 2022, Intertek signed an agreement with the Tanzania Bureau of Standards, a government department. This agreement aims to continue to support Intertek's Pre-Shipment Verification of Conformity (PVoC) program for exports to the nation. The PVoC was implemented by the Tanzania Bureau of Standards to verify the safety and quality of all regulated products being exported to Tanzania across the country of supply.
KBV Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the KBV Cardinal matrix; Eurofins Scientific SE, SGS S.A. and Bureau Veritas S.A. are the forerunners in the Testing, Inspection and Certification (TIC) Market. Companies such as DEKRA SE, DNV AS and Intertek Group PLC are some of the key innovators in Testing, Inspection and Certification (TIC) Market. In April, 2023, DEKRA partnered with LatticeFlow, a company engaged in AI development and deployment platform for continuously enhancing model performance. Under this partnership, both DEKRA and LatticeFlow would offer AI safety assessments for business clients. The combined portfolio would offer the industry's first AI model assessment service, backed by the ISO standards for model robustness and data quality.
Market Growth Factors
TIC services help ensure product safety and quality, which are paramount for consumers and regulatory authorities. For example, the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) provide widely recognized standards that TIC services use to assess product compliance.Additionally, Governments and regulatory bodies are enforcing more stringent regulations across various industries, including pharmaceuticals, food and beverages, and consumer electronics, driving the demand for TIC services to ensure compliance.
Market Restraining Factors
The costs involved in testing, inspecting, and certifying products to meet regulatory and industry standards can be prohibitive, leading many SMEs to forego these essential services altogether. For SMEs, the high costs of TIC services encompass various elements. Hence, the high costs associated with these services present a significant challenge for the market.Driving and Restraining Factors
Drivers
- Increasing globalization and international trade
- Adoption of stringent regulatory standards
- Rapid development and integration of advanced technologies
Restraints
- Substantial financial burden associated with TIC services
- Variations in regulations across different countries and regions
Opportunities
- Digital transformation across various industries
- Increasing role of TIC in healthcare and pharmaceuticals
Challenges
- Concerns regarding Intellectual Property (IP)
- Lack of skilled workforce
Services Type Outlook
By service type, the market is divided into testing, inspection, and certification. The testing segment procured 67% revenue share in the market in 2023. The testing segment is driven by the need to verify product safety, quality, and performance before reaching the market.Sourcing Type Outlook
On the basis of sourcing type, the market is bifurcated into in-house and outsourced. The outsourced segment garnered 35% revenue share in the market in 2023. Outsourcing TIC services involves contracting external specialized service providers to perform these activities.Application Outlook
Based on application, the market is classified into consumer goods & retail, agriculture & food, chemicals, infrastructure, manufacturing, medical & lifesciences, mining, oil & gas, automotive, public sector, IT & telecom, and others. The consumer goods & retail segment garnered 18% revenue share in the market in 2023. This dominance can be attributed to TIC services' critical role in ensuring consumer products' safety, quality, and compliance.By Regional Analysis
Region-wise, the testing, inspection and certification (TIC) market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed 29% revenue share in the testing, inspection and certification (TIC) market in 2023. The region's mature industrial base, stringent regulatory environment, and high product quality and safety standards drive the demand for TIC services.Market Competition and Attributes
The Testing, Inspection, and Certification (TIC) market is highly competitive, characterized by stringent regulatory standards and increasing complexity in global supply chains. Key attributes include a growing emphasis on product safety, quality assurance, and compliance across various industries such as automotive, healthcare, and consumer goods. Market players compete on technological innovation, service breadth, and global presence to meet diverse client needs and regulatory requirements efficiently.
Recent Strategies Deployed in the Market
- In, May, 2023, SGS SA came into partnership with Eezytrace, an advanced software solution that powers data-driven risk management and helps digitize self-check procedures in the food service industry. With this partnership, SGS aims to support food operators enhance food safety management across the world. Furthermore, the alliance with Eezytrace sets the new benchmark for excellence and efficiency in the food service and retail industry.
- In May, 2023, SGS partnered with Worldly, the global comprehensive impact intelligence platform for consumer goods and fashion businesses. With this partnership, SGS would bring scalable, third-party data validation to the consumer goods industry, to help enterprises frequently and accurately report to stakeholders, decreasing greenwashing risk, improving supply chain transparency, and complying with key legislation.
- In April, 2022, TÜV SÜD collaborated with ioMosaic, a leading US provider of process safety solutions. The collaboration aims to ally process safety and risk management services. Moreover, this collaboration would benefit the customers of both TÜV SÜD and ioMosaic, offering a broader range of services and additional digital applications, and wider training offers, notably increasing laboratory capacity and more training specialization.
- In June, 2020, Bureau Veritas teamed up with Sodexo, a company specializing in Quality of Life Services. This alliance aims to launch a hygiene verification label for Sodexo procedures and services. With this collaboration, Bureau Veritas confirms to shape a world of trust, that is an important foundation for a sustainable society model.
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 Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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. Global Testing, Inspection and Certification (TIC) Market by Service Type
Chapter 6. Global Testing, Inspection and Certification (TIC) Market by Sourcing Type
Chapter 7. Global Testing, Inspection and Certification (TIC) Market by Application
Chapter 8. Global Testing, Inspection and Certification (TIC) Market by Region
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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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 323 |
| Published | August 2024 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value ( USD | $ 238.21 Billion |
| Forecasted Market Value ( USD | $ 331.04 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
