North America Testing, Inspection and Certification (TIC) Market Size, Share & Industry Trends Analysis Report By Application, By Sourcing Type, By Service Type (Testing, Inspection, and Certification), By Country and Growth Forecast, 2023 - 2030
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Market Report Description
The North America Testing, Inspection and Certification (TIC) Market would witness market growth of 2.6% CAGR during the forecast period (2023-2030).
Testing, verification, quality assurance, and certification of a product, equipment, and more are all included in the services offered under the testing, inspection, and certification (TIC) umbrella. These aid in boosting manufacturing efficiency to minimize risk and reduce error. TIC services are relevant to oil and gas, food, pharmaceutical, chemical, and other industries. The growing demand for testing interoperability for IoT and connected devices, together with manufacturing organizations' increased focus on providing high-quality goods, is driving the expansion of the market.
To ascertain whether the goods provided by manufacturing companies comply with the essential norms and legislation, testing, inspection, and certification (TIC) solutions are typically required. As an illustration, testing services are employed in the automotive sector to guarantee that various components and solutions adhere to the set standards and legal criteria. The demand for TIC will rise along with rising automobile demand.
The US Consumer Product Safety Improvement Act mandates that some items be tested and certified by a third party before being on sale. Consequently, various product certification schemes are being offered by vendors to help consumers fulfill industry requirements for consumer electronics, smart, and wireless devices due to the growing use of these products in the market. The technologies covered by these initiatives include cellular PTCRB, LoRa Alliance, Bluetooth SIG, and NFC Forum. If devices use wireless and cellular technologies, these certifications are necessary. Hence, all these elements aid in expanding the regional market throughout the forecast period.
The US market dominated the North America Testing, Inspection and Certification (TIC) Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $56,675.5 million by 2030. The Canada market is experiencing a CAGR of 4.9% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 4% during (2023 - 2030).
Based on Application, the market is segmented into Consumer Goods & Retail, Agriculture & Food, Chemicals, Infrastructure, Manufacturing, Medical & Lifesciences, Mining, Oil & Gas, Automotive, Public Sector, and IT, Telecom & Others. Based on Sourcing Type, the market is segmented into In-house, and Outsourced. Based on Service Type, the market is segmented into Testing, Inspection, and Certification. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Testing, Inspection and Certification (TIC) Market is Projected to reach USD 280.1 Billion by 2030, at a CAGR of 3.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SGS S.A., Bureau Veritas S.A., Intertek Group PLC, Eurofins Scientific SE, TÜV Rheinland AG, Applus+ Group, TÜV Nord Group, DEKRA SE, TUV SUD and DNV AS.Scope of the Study
Market Segments Covered in the Report:
By Application
- Consumer Goods & Retail
- Agriculture & Food
- Chemicals
- Infrastructure
- Manufacturing
- Medical & Lifesciences
- Mining, Oil & Gas
- Automotive
- Public Sector
- IT, Telecom & Others
By Sourcing Type
- In-house
- Outsourced
By Service Type
- Testing
- Inspection
- Certification
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- SGS S.A.
- Bureau Veritas S.A.
- Intertek Group PLC
- Eurofins Scientific SE
- TÜV Rheinland AG
- Applus+ Group
- TÜV Nord Group
- DEKRA SE
- TUV SUD
- DNV AS
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