1. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com TIC Services Market to cross $240bn by 2024: Global Market Insights Inc.

2. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Testing, Inspection & Certification (TIC) Services Market size is estimated to be over USD 240 billion by 2024; driven by growing demand for third part services. The testing, inspection & certification services market is propelled by the growing trend of outsourcing services from third-party specialist firms. Large corporations & state-owned establishments are gradually outsourcing their TIC activities to reduce the cost and focus on their core business competency. The stringent government regulations to ensure the safety and quality of the products also drives the market growth. Over the past five years, the incidences of non-compliance scandals have increased significantly. This is encouraging government authorities to implement stringent regulations associated with testing, inspection, and certification standards. Testing, Inspection & Certification (TIC) Services Market  Moreover, the rise in the unethical manufacturing methodologies to reduce the cost is also augmenting the demand for the TIC services market. The quality expectations and consumer safety requirements are becoming complex day by day, and the nonfulfillment of consumer expectations has led to product callbacks. This is forcing companies to employ advanced inspection methodologies to comply with the industry standards and fulfill customer expectations. Industry Overview

3. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  The certification service market is anticipated to attain CAGR of over 9% during the forecast timeline. The increasing concern towards the product quality, safety, and environmental health is driving the market growth. Furthermore, the requirement to comply with the national and international standards is augmenting the demand for the testing, inspection & certification services market.  Agriculture & food markets are among the most lucrative applications of the TIC services market. These are anticipated to grow at the CAGR of over 10%. The increasing focus of the government authorities on the food safety and health is a primary factor driving the market growth. Food contamination diseases are forcing the governments to develop strict standards and guideline for manufacturers to ensure the safety of their products. Furthermore, the increasing number of foodborne illnesses are driving the demand for inspection services in the food and agricultural sector. Continue…

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5. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com TIC Services Market

6. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com U.S. Testing, Inspection, and Certification (TIC) Services Market Revenue, By Service, 2017

7. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Industry Coverage

8. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Continue  Asia Pacific testing, inspection & certification services market is anticipated to attain a growth rate of over 9% during the forecast timespan. The growth of the market is driven by the rapid industrialization and urbanization in emerging economies such as India and China. The urbanization in these countries has attracted massive investment in the energy, infrastructure, and transport. This is developing myriad opportunities for the growth of the market. Furthermore, the rising demand for quality and safety of the products along with the environmental health is giving rise to the requirement of effective TIC services in these regions.  The key players in the testing, inspection & certification services market are Applus, Apave, Bureau Veritas, Corelab, DEKRA, Eurofins, Intertek, DNV GL, Lloyd’s Register Group, TUV SUD, SGS SA, SYNLAB, TUV Rheinland, TUV Nord, ALS, SOCOTEC, Kiwa Group, RINA, and UL. Merger & acquisition is the common strategy used by market players to gain the market share. For instance, in November 2017, SGS acquired BioVision Seed Research Limited to strengthen its presence in the Canadian Agriculture market.

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