Testing, Inspection and Certification (TIC) Services Market Size, By Service (Testing, Inspection, Certification), By Type (In-house, Outsource), By Application (Agriculture & Food {Seeds & Crop, Fertilizers, Food, Trade & Logistics, Pest Control & Fumigation}, Construction {Building Material [Material Testing, Material Certification, Coating Inspection & Failure Analysis], Infrastructure, Capital Equipment}, Life Science {Pharmaceuticals, Clinical Trials, Environmental, Medical Devices}, Consumer Products {Hardline, Softline, Electronics, Household, Personal Care & Cosmetics, Hazardous Area Equipment}, Transportation {Automotive, Marine & Offshore, Railways, Aerospace}, Energy {Energy Source, Power Generation, Power Distribution}, Oil, Gas & Chemical {Upstream, Midstream, Downstream, Petrochemicals, Chemical Feedstock, Finished Product}, Mining, Industrial Machinery), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Dec 2020  |  Report ID: GMI2318  |  Authors: Preeti Wadhwani, Shubhangi Yadav

Report Format: PDF   |   Pages: 360   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

TIC Services Market size estimated at USD 170 billion in 2019 and is anticipated to grow at a CAGR of more than 6% from 2020 to 2026.
 

TIC Services Market

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Increasing government regulations and initiatives to propel environmental safety and product quality in various industries including food processing, oil & gas, and construction, among others are accelerating the TIC services market growth. Food processing companies add several preservatives in their food products to increase the product lifecycle, resulting in the development of food regulations and standards. Certification required for food safety is directly concerned with human health, positively influencing governments to introduce new laws & regulations, and contributing to the TIC market revenue.
 

The rising trend of outsourcing services to third-party providers is also fueling the TIC services market demand. It helps several small & large corporations to focus on their core business competencies and reduce their operational expenses. Several companies are forming collaboration & merger strategies with market players to overcome talent shortage and accelerate manufacturing processes.
 

The COVID-19 outbreak will impact the TIC services market in the coming years due to the rising demand and manufacturing of medical equipment including personal protective equipment, ventilators, etc. The impact has also created market opportunities for TIC services players to provide certification and testing services of medical devices. However, a halt in business operations and declining production in the automotive, consumer electronics, oil & gas sectors has temporarily declined the revenue shares of the companies from these sectors. The lockdown scenario imposed by several governments has limited engineers and operators to deliver TIC services.
 

Increasing demand for certification services in consumer electronics

The certification segment held a TIC services market share of around 10% and is poised to witness around 9% growth rate through 2026. The growth is attributed to increasing demand for third-party certifications by consumer electronics OEMs to improve product credibility as different regional markets require different product standards and regulations. The third-party certification assures safer & more reliable products and electronic component manufacturers need to comply with the international standards, increasing the demand for third-party certification services in the market.
 

Manufacturers need to comply with several national and international certifications to provide credibility to products around the globe. Furthermore, several stakeholders are introducing certification programs to ensure consistent product quality. Market players are accelerating their offerings for certification, catering to the high demand in the industry.
 

Stringent regulations for product quality will boost outsourcing activities in the TIC services market

TIC Services Market

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The outsource application segment dominated over 40% market share in 2019 and is expected to expand at 8% CAGR during the forecast timeline. Several companies and public institutions are inclined toward outsourcing TIC activities, thus lowering the operational cost and focusing on improving business activities. It also helps companies to focus on R&D activities and new product development while outsourcing TIC services to enhance business operations.
 

Several SMEs are forming strategic agreements with industry players to focus on core tasks and maintain operational efficiency. In July 2020, Intertek announced its partnership with BEXIMCO to manage & operate its PPE quality assurance laboratory, provide guidelines for equipment, and manage technical experts for delivery operations.
 

Increasing demand for TIC services in rail transportation

The transportation sector in the TIC services market is predicted to observe growth of over 4% during 2020-2026 owing to the demand of testing, maintenance, and periodic inspection of components & raw materials used in trucks, ships, trains, and aircraft, among others. TIC services help companies in the transportation sector to comply with necessary regulations and enhance the supply chain management & safety services, increasing their adoption in the transportation industry.
 

Marine and rail hold a major part in the transportation sector. The sector requires TIC services for electrical, chemical, and mechanical testing of parts in carrier vehicles. Companies are forming several merger, collaboration, and partnership strategies with market players to increase their TIC services and customer base. For instance, in March 2020, Alstom appointed Dekra, a testing inspection and certification company, as a test leader to complete the testing of its hydrogen fuel train in the Northern Netherlands. These strategic initiatives will boost the growth opportunities of companies operating in the market.
 

Government regulations in Japan on the expansion of testing and certification

 Asia Pacific TIC Services Market

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Asia Pacific TIC services market is slated to grow at 10% CAGR till 2026. The growth is credited to supportive government initiatives and standards for electronic systems and technologies, increasing the demand for TIC services in the region. In August 2020, the Japanese classification society, ClassNK, launched the Innovation Endorsement to certify innovative technology in the country. Market players in the region are also focusing on expanding their TIC services to gain high competitiveness among other players.
 

Focus on inorganic growth strategies by key players to stay competitive in the market

Key players operating in the TIC services market are Applus+, ALS Limited, DEKRA, Eurofins Scientific, Intertek Group PLC, KIWA Group, RINA Group, TUV NORD, and TUV SUD, among others. These players are focusing on strategic partnership, collaboration, and acquisition activities to strengthen their market presence over competitors. For instance, in August 2019, ALS Limited acquired the Latin American pharmaceutical testing services business of Laboratorios de Control ARJ. Through this acquisition, ALS will expand its pharmaceutical testing services business in Argentina, Colombia, Mexico, and Brazil.
 

The testing, inspection, and certification (TIC) services market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2026 for the following segments:

Market, By Service

  • Testing
  • Inspection
  • Certification
  • Others

Market, By Type

  • In-house
  • Outsource

Market, By Application

  • Agriculture & food
    • Seed & crop
    • Fertilizers
    • Food
    • Pest control & fumigation
    • Others
  • Construction
    • Building materials
      • Material testing
      • Material certification
      • Coating inspection and failure analysis services
      • Others
    • Infrastructure
    • Capital equipment
    • Others
  • Life science
    • Pharmaceuticals
    • Clinical trials
    • Environmental
    • Medical devices
  • Consumer products
    • Hardline
    • Softline
    • Electronic
    • Household, personnel care & cosmetics
    • Hazardous area equipment
  • Transportation
    • Automotive
    • Marine & offshore
    • Railways
    • Aerospace
  • Energy
    • Energy source
    • Power generation
    • Power distribution
    • Others
  • Oil, gas & chemical
    • Upstream
    • Midstream
    • Downstream
    • Petrochemicals
    • Others
  • Mining
  • Industrial machinery
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Denmark
  • Asia Pacific
    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Singapore
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Frequently Asked Questions (FAQ) :

The global market for TIC services was valued at USD 170 billion in 2019 and will expand at more than 6% CAGR through 2026 with increased focus on product quality and environmental safety.
The certification segment accounted for over 10% market share in 2019 and is expected to record around 9% CAGR between 2020-2026.
Outsource segment held more than 40% of the total industry share in 2019 and will witness over 8% CAGR up to 2026, as organizations aim to reduce operational costs and focus on core business activities.
The transportation segment is projected to see over 4% CAGR through 2026 with consistent need to test, inspect, and maintain components and raw materials.
APAC market is expected to register over 10% CAGR between 2020-2026 with robust standards for electronic systems and technologies.

Premium Report Details

  • Published Date: Dec 2020
  • Pages: 360
  • Tables: 779
  • Charts / Figures: 34
  • Companies covered: 24
  • Countries covered: 19

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