Several factors such as formulation of
stringent regulations and standards to ensure products’ quality and safety,
outsourcing of TIC services to third party service providers, global trading of
products, and implementation of new regulations and standards in agriculture
and environmental sectors are driving the testing, inspection, and
certification (TIC) market. Some of the major regulatory bodies such as
International Organization for Standardization (ISO), and American Society for
Testing and Materials (ASTM) international have been working towards developing
new standards which help ensure the quality of products. Some of the sectors
like consumer products, food & beverage, and agriculture are highly
regulated sectors and pose a significant demand of stringent regulation and
standards to mitigate the risks associated with quality and safety of the
products.
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Manufacturers of products are trading their products in the international market that requires the manufactures need to follow the international standards. The TIC market has been witnessing the significant growth in emerging markets such as India, China, and Brazil. TIC market players are opening new facilities in countries such as India, Brazil, and China to fulfill the growing demand for TIC services in sectors related to consumer products and agriculture. The major challenge for the testing, inspection, and certification market is that overseas qualification tests take a longer time to get approved.
The in-depth geographic analysis in the report provides strategic business intelligence for TIC sector investments. The study reveals profitable investment strategies for TIC companies, business executives, product marketing managers, new business investors, and many more in preferred locations.
The global testing, inspection, and certification market has been segmented based on application and geography. These sectors find application in sectors such as petroleum, environmental compliance, consumer products, agriculture, and mining. The said market has been segmented based on geography into North Americas, Europe, APAC, and RoW.
The report includes a competitive landscape section which includes the rankings of the key players in the testing, inspection, and certification market, in addition to their growth related strategies such as mergers & acquisitions, new products launches, and contracts & agreements. Moreover, the report also includes the supply chain analysis and Porters’ Five Forces analysis for the TIC market.
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