Testing, Inspection, And Certification Market size is estimated to surpass USD 420 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of testing, inspection, and certification was over USD 240 Billion.The growth of the market can be attributed to the growing trends of digital transformation across companies. The digital transformation has led to the innovation of various new technologies and faster production and delivery of goods and services, which in turn also boosts the demand for testing, inspection, and certification services. New business models have been developed by 60% of organizations that are based on digital transformation. Moreover, the leading industries that have undergone digital transformation are bank and financial services, healthcare, and services.
In addition to these, factors that are believed to fuel the market growth of testing, inspection, and certification include the rise in the number of TIC services for various industries. The major companies are launching new testing, inspection, and certification for different types of products that sit well with the standards. For instance, Dekra introduces cybersecurity services for the Internet of Things (IoT) ecosystem into their portfolio. This service provides evaluation and certification in accordance with ETSI EN 303 64 IoT cybersecurity standards.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~ USD 240 Billion |
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Forecast Year Market Size (2035) |
~ USD 420 Billion |
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Regional Scope |
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End-user (Consumer Goods & Retail, Agriculture & Food, Healthcare & Medical Sciences, Chemicals, Oil & Gas, Manufacturing)
The global testing, inspection, and certification market is segmented and analyzed for demand and supply by industry into consumer goods & retail, agriculture & food, healthcare & medical sciences, chemicals, oil & gas, manufacturing, and others. Out of the seven industries using testing, inspection, and certification, the healthcare & medical sciences segment is estimated to gain the largest market share in the year 2035. The growth of the segment can be attributed to the rising need for bioanalytical testing services and for ensuring the safety of medical devices and equipment. Companies are collaborating to enhance the launching of testing, inspection, and certification services for medical equipment and pharmaceutical. To increase its capacity for biopharmaceutical analytical testing, SGS SA bought Quay Pharma, a pharmaceutical R&D organization, in December 2021. Moreover, the segment growth was further boosted by the onset of COVID-19, and demand for equipment was propelled.
Service Type (Testing, Inspection, Certification)
The global testing, inspection, and certification market is also segmented and analyzed for demand and supply by service type into testing, inspection, and certification. Amongst these three segments, the certification segment is expected to garner a significant share in the year 2035. Organizations can display a mark of recognition on their product or issue a certificate showing the product's compliance with predetermined standards by applying for product certificates or licenses from certification bodies. The growth of the segment growth is primarily ascribed to the launch of various certifications by private companies. For instance, in August 2020, SGS introduction of remote FSMA certification audits, the certification enables sustainability in the world's food supply chain and expands the company's portfolio of compliance services that are ready for remote COVID situations. SGS has used modern information and communications technology in the FSMA certification.
Our in-depth analysis of the global market includes the following segments:
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By Service Type |
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By Sourcing Type |
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By Industry |
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APAC Market Statistics
The Asia Pacific testing, inspection, and certification market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the rising production and demand for autonomous vehicles. Testing, certification and inspection are important for testing the various codes of the vehicle and the safety of the self-driving vehicles. Around 35% of the 100 million lines of code for the driverless car are being written by Indian engineers. Moreover, in an effort to hasten the commercialization of self-driving technology, China revised its restrictions on testing driverless cars in August 2021. Qualified companies are now permitted to undertake trials of autonomous vehicles used to transport people and products on motorways and city streets.
North American Market Forecast
The North American testing, inspection, and certification market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the rising trade of the United States with other countries. According to the U.S. International Trade in Goods and Services, the entire value of American exports in January 2023 was USD 257.5 billion, which is USD 8.5 billion greater than in December. The number of imports in January was USD 325.8 billion, USD 9.6 billion more than in December. On the other hand, market growth in the region is also expected on the account of the launch of new testing, inspection, and certification services for various industries. For instance, the CSA Group launched an accredited, specialized laboratory for testing and verifying the safety of medical-grade PPE. The new facility is to be set up in Toronto, Canada.
Europe Market Forecast
Further, the market in Europe, amongst the market in all the other regions, is projected to hold a significant share by the end of 2035. The growth of the market can be attributed majorly to the rise in the volume of export and import in the region. Consumer electronics, food & beverages, and, automotives are the three main areas of trade in Europe. According to Eurostat, 2021 witnessed a growth in imports and export since the pandemic, in comparison to 2020, the volume of imports and exports increased by 23% and 13%, respectively.
DEKRA announces the launch of UKCA certification services in the market of the United Kingdom for explosion-proof gear. The existing DEKRA explosion protection portfolio, which consists of IECEx, ATEX, JPEx, INMETRO, and NRTL, is enhanced by the UKCA capabilities.
TUV SUD Product Service GmbH announces the launch of the world's first CDx certificate has been issued in compliance with IVDR (EU) 2017/746, the EU Regulation on in vitro diagnostic medical devices.
Author Credits: Anil Kumar, Ipsheeta Dash
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