The global testing, inspection, and certification market was valued at US$204.37 billion in 2017 and is projected to expand at a CAGR of 4.76% over the forecast period to reach US$270.21 billion by 2023. The shift towards a tougher and complex regulation and standard across a variety of industries is driving the testing, inspection, and certification market. Moreover, the increasing trend of globalization along with the rapid growth in the exported goods from the developing to the developed nation is further driving the market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical region. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the testing, inspection, and certification value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the global testing, inspection, and certification market.
Major industry players profiled as part of the report are SGS SA, Bureau Veritas, Dekra, and Lloyd’s Register among others.
The global testing, inspection, and certification market has been analyzed through following segments:
By End User
Oil & Gas
Food and Beverage
Middle East and Africa