The testing, inspection & certification is the procedure adopted by end-user sector to safeguard safety, maintenance, and quality in consumer products. These services are required in growing productivity by meeting product quality with international standard. Recently, rules and norms regarding health, quality, and safety have become strict which is further affecting the global import & export business. Imports from developing regions has to pass through strict quality and safety testing process. This has increased demand for testing, inspection and certification process in manufacturing sectors.
Globally the market for Testing, Inspection and Certification (TIC) Market is expected to grow at the rate of more than ~5% from 2016 to 2022.
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Testing, Inspection and Certification (TIC) Market- Competitive Analysis:
The SAFESUPPLY platform, co-developed by ComplianceMetrix and Bureau Veritas, delivers Food and Retail manufacturers a risk-based planning of their suppliers to support their risk mitigation programs. The solution allows them to save money and optimize resources by centering on the riskiest suppliers and thus decreasing the number of audits. Suppliers will also use the platform to engage in continuous and automated improvement programs. The solution provides extra value through the reliance on an algorithm that was established based on data collected from Bureau Veritas audits conducted over many years. “By combining external public data, thousands of local observations made by Bureau Veritas inspectors and auditors each day all over the world, and information specific to each supplier, they provide probably the most accurate risk assessment within the market.
Some of the main players in Testing Inspection and Certification (TIC) Market includes SGS group (Switzerland), Bureau Veritas SA (France), Dekra Certification GmbH (Germany), Intertek Group plc. (U.K.), ALS Limited (Australia), ASTM International (U.S.), BSI Group (U.K.), SAI Global Limited (Australia), MISTRAS Group, Inc.(U.S.), and UL LLC (U.S.) among others.
Testing, Inspection and Certification (TIC) Market-Segmentation:
Segmentation by Type: In-house and outsourced among others.
Segmentation by End user: Oil & gas, aerospace, food & beverage, automotive, petroleum and textile among others.
Segmentation by Region: Europe and Asia Pacific.
Testing, Inspection And Certification (TIC) Market- Regional Analysis:
Europe is dominating the global testing, inspection and certification (TIC) market with the largest market share because of the presence of high-tech automation division in the region which provides widespread vehicle testing & inspection services to the automotive products .Hence it is expected to grow with high revenue by 2022. Asia-Pacific is the fastest growing region during the forecast period due to high demand of testing & inspection services, especially by emerging countries China and India. Also, strict regulations by government to ensure better health and strong security is fuelling the market growth in various end-user sectors in the region.
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