North America Testing, Inspection & Certification Market to 2027 - Regional Analysis and Forecasts By Sourcing type ; Service Type ; and End-User

North America Testing, Inspection & Certification Market to 2027 - Regional Analysis and Forecasts By Sourcing type ; Service Type ; and End-User

  • July 2019 •
  • 140 pages •
  • Report ID: 5806345 •
  • Format: PDF
The North America testing, inspection & certification market accounted for US$ 59.48 Bn in 2018 and is expected to grow at a CAGR of 4.3% over the forecast period 2018–2027, to account for US$ 85.48 Bn in 2027. Factors including the growing demand for technology-enabled TIC solutions and technological advancements coupled with the prosperous economy, are the major factors driving the growth of North America testing, inspection & certification market. The progression of technological advancement, along with the popularity of the internet of things has a profound positive impact over the maintenance and inspection through the introduction of predictive maintenance. Furthermore, the rise in emphasis towards reducing equipment and machinery downtime has added to the demand for frequent maintenance, testing, and inspection of critical assets and systems. Subsequently, the availability of technologically superior equipment and devices for testing or inspection application has facilitated in enabling accurate and seamless inspection of significant assets and systems compared to conventional approaches. Thus, technological advancements are expected to drive the testing, inspection & certification market.
The existing large number of regulatory and government agencies along with trade watchdogs based institutional organization has facilitated in the seamless implementation of numerous trade practices and safety norms.Moreover, the limited inter-governmental cooperation, along with different jurisdiction restriction has resulted in the prevalence of a notably significant number of rules, certification, guidelines, and compliances related regulatory norms for various end-users.

However, the recent improvement in inter-governmental cooperation through improving international trade flow along with simplification of complicated regulation has gained traction resulting in a rise in the number of outsourced and robust TIC-based regulatory guidelines. Additionally, the prominence of free trade agreements and special economic zones approved through multiple countries deal especially across emerging economies is expected to provide numerous inspection, testing, and certification based market opportunities for the market players operating in the testing, inspection & certification market during the coming years.
The North America testing, inspection & certification market is fragmented with the presence of several industries, and the competitive dynamics in the testing, inspection & certification market is expected to change during the upcoming years.In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the North America testing, inspection & certification market further.

For instance, In February 2019, The U.S. FDA announced a new strategy for monitoring and inspecting food imports. As per the new strategy, FDA will be more dedicated to ensuring that food imported from overseas fulfills the same standards as food produced within the country. For this, the FDA will create a third-party certification program to audit standards for ensuring overseas facilities meet American standards. Also, the FDA will team with nations having food safety guidelines that connect with the agency’s standards. The third-party certification program is expected to bolster the testing, inspection & certification market growth.
The testing, inspection & certification market by service type is segmented into testing, certification, and inspection.In the quality control industry, testing is often referred to as lab testing.

Generally, the product quality testing is conducted at a certified third-party laboratory.However, certain factories have sophisticated services to perform some kinds of on-site lab testing, but it is not a substitute for professional lab testing.

Testing labs in the factories are generally not certified by official accrediting establishments, such as the International Accreditation Service or the ANSI-ASQ National Accreditation Board (ANAB). In several markets, such as the U.S. and European Union (E.U.), national governments necessitate these accreditations for brands to sell and import products there.
The overall North America testing, inspection & certification market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America testing, inspection & certification market.

It also provides an overview and forecast for the North America testing, inspection & certification market based on all the segmentation provided for the North America region.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.

The participants who typically take part in such a process include industry expert such as V.P.s, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America testing, inspection & certification industry. Some of the players present in testing, inspection & certification market are SGS SA, ALS Limited, Applus Services, S.A., Bureau Veritas, DEKRA Automobile GmbH, DNV GL, Eurofins Scientific, Intertek Group PLC, TÜV Rheinland AG, and TÜV SÜD AG among others.
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