Global Testing, Inspection and Certification Market
Dublin, May 05, 2022 (GLOBE NEWSWIRE) -- The "Global Testing, Inspection, and Certification Market with Covid-19 Impact Analysis by Service Type (Testing, Inspection, and Certification), Sourcing Type (In-house, Outsourced), Application and Geography - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Testing, inspection, and certification market is projected to reach USD 268.9 billion by 2027 from USD 221.4 billion in 2022; it is expected to grow at a CAGR of 4.0% from 2022 to 2027.
The growth of the Testing, inspection, and certification market in APAC is mainly driven by the increasing adoption of latest technologies in the region and increasing business in construction, electronics and textile industries.
Moreover, Huge capacity to manufacture medical devices, electronics, and consumer goods and high dependence of many European and North American countries on Asia Pacific for goods also drive the growth of the Testing, inspection, and certification market in APAC.
The North American market also has increasing adoption of Testing, inspection, and certification market due to Growing number of manufacturing plants and R&D centers, as well as stringent regulations, for aerospace components and electronic devices and increasing awareness regarding benefits of certified products and services across domains.
The outbreak of the novel coronavirus affected the Testing, inspection, and certification market, but steady recovery is expected by 2022. Developing countries in APAC have vast growth potential as well as a favorable environment for service providers.
Countries such as Japan and South Korea are already developed economies, and China has been the fastest-growing economy in the world for the last 2 decades. Testing, inspection, and certifications are likely to witness tremendous demand in the region during the forecast period because of high growth.
APAC produces a large amount of apparel and textiles as well as consumer goods, and these applications are expected to increase demand for Testing, inspection, and certification market in this region.
Significant growth in the market for Testing, inspection, and certifications is likely to be observed in medical and life science application due to increasing need for testing, inspection, and certification services because of high effect of Covid-19 pandemic in the region.
Therefore, the Testing, inspection, and certification market in APAC is expected to grow at the highest rate during the forecast period.
Asia-Pacific to Emerge as Lucrative Growth Avenue for Testing, Inspection, and Certification Market
Electrical & Electronics Segment to Capture Largest Market Share During 2022-2027
In-House Segment to Account for Larger Market Share Than Outsourced Segment During Forecast Period
Testing Services and China to Account for Largest Market Share in Asia-Pacific in 2027
India to Record Highest CAGR in Testing, Inspection, and Certification Market from 2022 to 2027
Strict Regulatory Standards Imposed by Governments to Ensure Product Safety and Environmental Protection
Increased Need for Interoperability Testing Owing to Growing Deployment of IoT and Connected Devices
Surged Demand for Testing, Inspection, and Certification Services due to Outbreak of COVID-19 Pandemic
High Indulgence in Unlawful Trade of Counterfeit and Flawed Pharmaceutical Products
Increased Focus of Manufacturing Companies on Customer Retention by Providing High-Quality Products
Lack of Global Testing, Inspection, and Certification Standards and Relaxation of Certification Norms Offered to SME by Some Government Authorities
High Cost of Testing, Inspection, and Certification Services due to Diverse Standards and Regulations Across Different Geographies
Rising Adoption of Digitalization to Improve Customer Experience
Increasing Focus on Food Safety During Pandemic
Growing Adoption of Breakthrough Technologies by Consumers Worldwide
Slower Adoption Rate of Advanced Technologies by Small and Medium-Sized Testing, Inspection, and Certification Companies
Case Study Analysis
Testing, Inspection, and Certification Services for Food Manufacturing Company
Tuv Sud Provides Certification and Auditing Services for Meiji Co. Ltd.
Testing, Inspection, and Certification Services for Cleaning and Disinfection Service Provider
Tuv Sud Provides Certification Services to Primech Holdings Limited
Testing, Inspection, and Certification Services for Energy Industry
Applus+ Rtd Improves Field Service Delivery for Energy Industry with Mobile Reach Platform
Avomeen Analytical Services
Baltic Control Ltd.
British Standards Institute (Bsi)
Element Materials Technology
Gulf Inspection International Co.
Humber Inspection International Ltd.
Hv Technologies Inc.
Lloyd's Register Group Limited
National Collateral Management Service Limited (Ncml)
Nippon Kaiji Kentei Kyokai (Nkkk)
Nqaqsr North America
Safety Assessment Federation (Safed)
Thomas Bell-Wright International Consultants
Tuv Nord Group
Vde Testing Institute
Washington Laboratories Ltd.
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