Testing, Inspection, and Certification (TIC) Market Worth US$299,628.6 Mn by the Fall of 2025; Emerging Economies are Vital for the Growth - TMR - Seite 2

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These developing nations have great potential for the development of the testing, inspection, and certification market. In the recent past, the volume of goods that are exported from these nations to already developed countries has grown substantially. Additionally, controlling the complete value chain is the new trend that is being followed by western companies. A reason behind the growth of this trend is the exported good must comply with the western standards. Having complete control over the value chain makes this task easier.

Furthermore, the middle class in the BRIC nations has become highly health conscious and savvy. People in these countries are experiencing rapid economic growth and as a result, they are demanding quality resources with proper certifications. This is thus expected to play an important part in the future strategic decisions and campaigns of the companies operating in the testing, inspection, and certification market.

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Some of the key players in the global testing, inspection, and certification (TIC) market include names such as TÜV Rheinland Group, AsureQuality Ltd., Lloyd's Register Group Limited, SGS Group, Intertek Group PLC, ASTM International, TUV SUD AG, Bureau Veritas SA, DNV GL Group AS, and Underwriters Laboratories Inc. among others.

The study presented here is based on a report by Transparency Market Research (TMR) titled "Global Testing, Inspection, and Certification Market (Service Type – Testing and Inspection and Certification; Sourcing Type - In-house Sourcing and Outsourcing; Industry - Infrastructure and Construction, Transformational and Contract Manufacturing, Food and Beverages, Agriculture and Forest, Information Technologies, Chemical, Healthcare and Pharmaceutical, Transportation and Logistics, Travel and Tourism, Energy and Utilities, Water and Wastewater Management, Government, Education, Textile, and Cosmetics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017–2025."