Electrical and Electronics TIC Market Report - Key Players and Regional Forecast 2025

0
0

Overview

The Electrical & Electronic Testing, Inspection, & Certification (TIC) Market is expected to reach USD 133,116.9 Million by 2025, registering a CAGR of 5.8% during the forecast period (2019–2025). In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the coming years.

The electrical electronics testing, inspection, & certification (TIC) market exhibits a prominent growth potential during the forecast period. The growth of this market is driven by increasing demand in household appliance testing and growing need for equipment validation. Furthermore, growing smart home projects is expected to further boost the growth of this market in the coming years. However, the lack of global certification standards limits the market growth. Also, a change in technologies and regulations poses a challenge for this market.  The electrical & electronics testing, inspection, & certification services consist of compliance testing, auditing, inspection, quality assurance, and certification services. These services are used by companies operating across various industrial verticals for improving productivity and efficiency of manufacturing processes for manufacturers to meet the globally recognized standards, regulations, and policies set by the government to improve the quality of products. The testing, inspection, and certification services can be applied to any product, service, or company.

Get Free Sample at: https://www.marketresearchfuture.com/sample_request/8519 

The market is highly fragmented with the presence of various global, regional, and local providers who are continuously evolving to enhance their market position. Increasing demand in household appliance testing, growing globalization, and increasing need for brand protection are the key factors aiding market growth. However, the lack of global certification standards and skilled personnel are expected to limit the growth of the market during the forecast period. The TIC sector is widely influenced by the complex political landscape. The rate of change and the impact of government policy remain uncertain in most geographies.

Segmental Analysis

The Global Electrical & Electronics Testing, Inspection, & Certification Market has been segmented based on service type, product, offerings, and region.

Based on the service type, the electrical & electronics testing, inspection, & certification market has been segmented into testing, inspection, and certification service. The testing segment accounted for the largest market share in 2018. The inspection segment was the second-largest market in 2018, and it is projected to exhibit substantial CAGR growth. However, the certification segment is expected to register the highest CAGR of 6.52% during the forecast period.

Based on product, Electrical and Electronics TIC Market Report has been segmented into smart lighting system, smart wiring system, HVAC system, electrical component, e-toys, household appliances, security & access control. The electrical component segment accounted for the total share of 25% in the year 2018 and is expected to exhibit a CAGR growth of 6.8 during the forecast period.

Based on offerings, the electrical & electronics testing, inspection, & certification market has been divided into electromagnetic compatibility, electrical safety, connectivity, digital services, energy efficiency testing, and cybersecurity services. The electromagnetic compatibility accounted for the largest share in the market. It occupied a 21.1% share in the overall market in the year 2018. However, the cybersecurity services segment is expected to register the highest CAGR of 7.4%.

Competitive Analysis

The prominent players operating in the Electrical & Electronic Testing, Inspection & Certification (TIC) Market are SGS SA, Bureau Veritas SA, Dekra Certification Gmbh, Intertek Group PLC, ALS Limited, ASTM International, The British Standards Institution (BSI) Group, Sai Global Limited, Tuv Sud, Applus+, UL LLC, NSF International, National Technical Systems, Inc, TÜV Rheinland , TUV NORD AG, CSA Group, Element Materials Technology, and Eurofins Scientific.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/electrical-electronics-testing-inspection-certification-market-8519

About Market Research Future: 

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact:

+1 646 845 9312

Email: sales@marketresearchfuture.com

Blog: http://mrfrblog.com/

Showing 0 results
Your Answer

Please first to submit.

Get involved

Register

As a member of this site you will be able to receive aggregates news relating only to those categories that are most relevant to you, submit job listings for FREE, post questions in the Q&A, and more.

Register Now

Feature your company

The Feature Your Company listing is your custom-made (by us) profile page that allows you to add any of the following content: text, videos, links, images. The page will also be listed on the Featured Company landing page. Over 560 unique aggregates users visit the site per day! Complete the enquiry form now to contact us.

Contact us

Jobs

Are you looking for an aggregate related job? Click here to see our jobs listing supplied by industry experts United Employment.

See Jobs

Advertise

Reach thousands of budget holders and decision makers by promoting your company on the longest established aggregate website in the US & Canada. Or advertise in our emails which are sent to opted-in subscribers according to their chosen categories. All advertising will display correctly on tablets and mobiles as this site is responsive.