Testing, Inspection and Certification Services Market Size

Testing, Inspection and Certification Services Market Size

Testing, Inspection and Certification Services Market size was valued at USD 241.6 billion in 2023 and is estimated to register a CAGR of over 6% between 2024 and 2032. Stricter regulations and standards across industries, such as automotive, healthcare, manufacturing, and food safety, drive the demand for TIC services. Compliance with these regulations is critical for businesses to ensure the quality, safety, and reliability of their products and services. TIC companies play a vital role in helping businesses navigate complex regulatory landscapes, conduct necessary testing, and obtain certifications to meet compliance requirements.

For instance, in August 2023, SGS, the global leader in testing, inspection, and certification, gained accreditation from the Bureau of Indian Standards (BIS) for testing footwear products. Following the implementation of Quality Control Orders (QCOs) by the Indian Ministry of Commerce and Industry in July 2023, SGS's advanced Chennai laboratory now offers extensive footwear testing services compliant with Indian standards. This accreditation streamlines BIS license applications and ensures seamless alignment with stringent Indian quality regulations, bolstering product quality assurance.

Growing consumer awareness and demand for quality will help strengthen the TIC services market outlook over the next ten years. Consumers are becoming more conscious about the quality, safety, and sustainability of the products they purchase. As a result, there is a growing demand for products that meet stringent quality and safety standards. For instance, in July 2023, TUV SUD America Inc., a renowned global provider of testing, inspection, and certification services, inaugurated its cutting-edge environmental laboratory in Auburn Hills, MI. This milestone underscores its steadfast dedication to enhancing excellence in Electric Vehicle (EV) battery and system solutions.

With meticulous product development and validation procedures, TÜV SÜD guarantees that EV batteries conform to top-tier safety, reliability, and sustainability criteria. This facility stands as one of the premier EV battery testing labs globally, ensuring the highest quality standards. TIC services help companies validate their claims regarding product quality, environmental impact, and social responsibility through testing, inspection, and certification. This assurance enhances consumer trust and confidence, driving demand for TIC services across various industries.

However, on the other hand, the expenses associated with testing, inspection, and certification services can be significant, particularly for small and medium-sized enterprises (SME) and businesses operating in emerging economies. High costs may deter some companies from seeking TIC services, especially if they perceive them as an additional financial burden. As a result, cost constraints can limit the adoption of TIC services, thereby restraining market growth.