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Testing, Inspection, and Certification Market size was valued at USD 223.6 billion in 2022 and is projected to exhibit over 5% CAGR from 2023 to 2032. This is driven by growing demand for testing services for the effective interoperability of connected devices. Connected devices such as wireless medical equipment, connected vehicles, home automation devices, and industrial IoT devices are made of varied components such as gateways, sensors, and networks that require quality assurance testing for better interoperability.
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Many companies across the world are investing significant amounts in launching better testing services for connected devices and other electronic products such as smartphones, laptops, and others. For instance, in May 2021, HARMAN, a subsidiary of Samsung Electronics Co, Ltd. launched a new end-to-end 5G Testing Lab for 5G CP devices. The new infrastructure will help chipmakers, device makers, and others to perform functional tests and assess applications in a real 5G radio environment.
Report Attribute | Details |
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Base Year: | 2022 |
Testing, Inspection and Certification (TIC) Market Size in 2022: | USD 223.6 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 5% |
2032 Value Projection: | USD 400 Billion |
Historical Data for: | 2018 to 2022 |
No. of Pages: | 590 |
Tables, Charts & Figures: | 786 |
Segments covered: | Services, Type, Application and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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However, longer lead time for overseas qualification tests may limit the testing, inspection, and certification market demand. Many organizations outsource testing and quality compliance operations to offshore facilities which are managed by third-party TIC service providers. However, shipping the product samples to offshore facilities can cause delays and operational inefficiencies, increasing the financial burden on organizations. This may pose a challenge to small and medium-scale businesses in availing of testing, inspection, and certification services.
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Testing, inspection, and certification market size from transportation application segment will reach USD 75 billion by 2032. With rapid globalization, growing export and import market in developed and developing economies has increased the need for testing, inspection, and certification services for the smooth and safe transportation of goods. As per data from the IBEF, in FY 2021-22, the country reached USD 417 billion in manufacturing exports. Such developments will generate lucrative prospects for market expansion.
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TIC market share from the testing service segment will exceed USD 250 billion by 2032, due to growing concerns among consumers about product safety. To that end, many governments across the developed and developing economies are making substantial investments in the testing of food and medical products to ensure safety. In March 2022, the U.S. FDA initiated a request for USD 8.4 billion as part of the 2023 budget for investments in core food and medical product safety programs.
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North America testing, inspection, and certification market is anticipated to surpass USD 85 billion by 2032. Tightening government regulations for product safety across different industry verticals has increased the need for testing, inspection, and certification services in the region. In June 2022, the USDA announced a framework for making the food system to be fairer and more resilient. Moreover, a surge in the number of counterfeit goods is contributing to the industry growth.
Some of the leading companies involved in the testing, inspection, and certification (TIC) market include
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Market, By Service (2018 – 2032)
Market, By Type (2018 – 2032)
Market, By Application (2018 – 2032)
The above information has been provided for the following regions and countries: