Status : Published | Published On : Jan, 2024 | Report Code : VRSME9056 | Industry : Semiconductor & Electronics | Available Format : | Page : 165 |
The Industrial And Manufacturing Industry's Testing, Inspection, And Certification (TIC) Market reached a value of USD 16.8 billion in 2023. It exhibited a Compound Annual Growth Rate (CAGR) of 3.5% from 2025 to 2030, according to the forecast period.
Testing in TIC means an industry activity that assures manufactured products, individual components, and multi-component systems are suitable for the predetermined purpose. Inspection and testing are the operating parts of quality control, which is the most critical factor for the survival of any manufacturing company. Quality control directly supports other factors such as cost, productivity, on-time delivery, and market share. The testing, inspection, and certification market report is composed of conformity assessment agencies, which provide services from audit and inspection to testing, verification, quality assurance, and certification.
Globalization has led to product standardization norms and has penetrated developed technologies across various industries such as building & construction, industrial and manufacturing industry, and automotive industries, etc., resulting in the growth of the TIC market during the forecast period 2025-2030. Moreover, the growing middle-class population, rapid urbanization, population migration from rural to urban areas globally, mandatory safety regulations, upsurge in the illicit trade of counterfeit and pirated products, advancement in networking and communication technology, the surge in adoption of industrial applications, safety of workplace plant & machinery, the inclination of outsourcing testing, inspection, and certification services has propelled the growth of the TIC market in the industrial and manufacturing industry. Nevertheless, TIC provides various advantages related to its credibility and image, compliance with legal and regulatory requirements, less turnover of employees, high level of cost control improvement, and fast improvement of different processes.
The COVID-19 pandemic resulted in a short-term decline in demand and revenue in the first quarter of 2020. Moreover, TIC is playing a crucial role by offering assurance that the products and services offered to the customers will provide safety and health standards. Business organizations in the TIC market are intensifying IT infrastructures and developing business continuity plans, implying that the testing, inspection, and certification market are holding the substantial potential to bounce back from the COVID-19 outbreak. This is because TIC services will enhance and protect brand reputation, verify products’ safety, and enables trade.
Market Segmentation
Insight by Sourcing Type
Based on sourcing type, the TIC market for the industrial and manufacturing industry is bifurcated into in-house and outsourced. Among the two segments, the in-house segment dominates the market and is anticipated to hold the largest share during the forecast period 2023-2030. Deploying in-house testing and inspection will offer companies to have complete control over the entire process in terms of technology, skilled personnel, full-service laboratories, and testing and measurement equipment. Thus, enabling organizations to handle TIC activities like on-site availability, ability to employ talent, and establish custom practices as per the needs and desires of the organizations.
Insight by Service Type
Based on service type, the TIC market for the industrial & manufacturing industry is segmented into testing, inspection, and certification. Among these segments, the testing segment holds the largest share in the testing, inspection, and certification market in 2020 owing to diverse product standards, stringent regulations, increasing need for improved safety, growing industrialization, and a need to protect the brand. There is a high use of testing practices in the industrial & manufacturing industry which results in maintaining high-quality parameters and meet the requirements of consumers. Thus, companies from different industries are increasing their operational expenditure on the investment of testing equipment which offers market growth in the TIC market. Moreover, the inspection services in the industrial & manufacturing industry will help in offering safety, reliability, and productivity in plant capacity. This will help manufacturers to know about predictive maintenance, asset management, and instrument calibration & repair, propelling the growth of the TIC market for the industrial & manufacturing industry.
Insight by Industry Vertical
Based on industry vertical, the TIC market for the industrial & manufacturing industry is divided into industrial machinery and automation, instruments and controls, low and medium voltage distribution, manufacturing facilities, and others. The industrial machinery and automation are further segmented into industrial control panels and panel shop programs, robotics safety, security and performance, and electrical enclosure and component. Instruments and controls are further divided into switch certification and evaluation, motor control services, power supply certification, and programmable logic controllers and process control equipment. Industrial machinery and automation are growing at a faster pace during the forecast period owing to digital transformation resulting in increasing manufacturing productivity, reduced production costs, improves quality, decrease labor expenses, and reduced the risk to workers. TIC in this segment will assess the interoperability, functional safety, electromagnetic capability (EMC)/wireless, and cybersecurity of their connected products, offer guidance on global regulatory requirements, and test and certify their products to the latest global standards.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 16.8 Billion |
Revenue Forecast in 2030 |
U.S.D. xx.x Billion |
Growth Rate |
3.5% |
Segments Covered in the Report |
By Sourcing Type, By Service Type and By Industry Vertical |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
The TIC market for the industrial & manufacturing industry is characterized by various industry trends such as growing investment in AR and VR, mounting adoption of connected devices such as IoT and cloud-based technology, increasing mergers and acquisitions by the industry players, and sustained consolidation of suppliers leading to globalization.
Growth Drivers
The demand for Testing, Inspection, and Certification (TIC) services in the industrial and manufacturing industry is expected to rise due to various factors. These include the implementation of government-enforced regulations, industry standards focusing on public health and safety management, asset management and optimization, certification requirements, and the imposition of significant penalties for non-compliance.
Furthermore, manufacturing companies are increasingly prioritizing the delivery of high-quality products to improve customer retention. This emphasis on quality drives the need for interoperability testing of connected devices and the Internet of Things (IoT). Additionally, factors such as globalization, the expansion of global trade, the adoption of advanced technologies, and the emergence of digital technologies contribute to the overall growth of the TIC market in the industrial and manufacturing sector.
Challenges
The testing, inspection, and certification market face certain challenges like trade wars and growth fluctuations, huge investment for automation and installation of industrial safety systems, high cost of TIC owing to diverse standards and regulations globally. Moreover, a lack of testing facilities and skilled personnel may hamper the growth of the TIC market.
Opportunities
Testing, inspection, and certification is a massive market that provides lucrative opportunities in technologies such as AI, robotics, drones, big data analytics, next-generation automation, and cloud and cybersecurity.
Geographic Overview
Geographically, APAC is anticipated to have a high CAGR during the forecast period owing to the rising investment in R&D, rapid urbanization & industrialization, huge manufacturing capabilities and exports, rising per capita income among the middle-class population, improved lifestyles, and increasing consumer awareness about the importance of quality certification, testing, and inspection. Moreover, the developed countries have their manufacturing units in the region, especially in China and India. These manufacturing units manufacture products according to internationally accepted standards. Nevertheless, the growing middle-class population has led to the growth in private consumption and mounting demand for safety and product quality, resulting in providing opportunities in the building & construction industry.
Competitive Insight
Key players are adopting technological changes to improve their product portfolio and generate new revenues, optimize the operational cost, and enhance service efficiencies via process upgrades. The industry players are taking the COVID-19 crisis as an opportunity to restructure and revisit their existing strategies, focus on new services and delivery models to access the growing demand for automation, remote service execution, and improved digitization.
The business enterprises have started opening development centers in new locations to enhance market penetration which helps in building business relations with customers and clients. Moreover, the industry players in the TIC market have started building strategies like mergers and acquisitions to generate new revenue channels.
Det Norske Veritas, formerly DNV GL is an international accredited registrar and classification society headquartered in Høvik, Norway. DNV provides services for several industries, including oil and gas, renewable energy, maritime, electrification, and healthcare.
Some of the key players operating in the TIC market in the industrial & manufacturing industry are Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins USA, TUV Rheinland, Lloyd Register Group Limited, MISTRAS Group, TUV SUD, and DNV GL.
Recent Developments by Key Players
DEKRA Organisational and Process Safety partnered with Saudi Binladin Group to fast-track progress toward becoming a world leader in safety performance.
UL announces the launch of Machine Risk Assessment services designed to help factory owners, asset owners, and employers mitigate risk within the industrial workplace and provide a safer work environment.
The TIC Market for Industrial & Manufacturing Industry report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
Source: VynZ Research
1. Research Overview
1.1. The Report Offers
1.2. Market Coverage
1.2.1. By Sourcing Type
1.2.2. By Service Type
1.2.3. By Industry Vertical
1.2.4. By Region
1.3. Research Phases
1.4. Limitations
1.5. Market Methodology
1.5.1. Data Sources
1.5.1.1. Primary Research
1.5.1.2. Secondary Research
1.5.2. Methodology
1.5.2.1. Data Exploration
1.5.2.2. Forecast Parameters
1.5.2.3. Data Validation
1.5.2.4. Assumptions
1.5.3. Study Period & Data Reporting Unit
2. Executive Summary
3. Industry Overview
3.1. Industry Dynamics
3.1.1. Market Growth Drivers
3.1.2. Market Restraints
3.1.3. Key Market Trends
3.1.4. Major Opportunities
3.2. Industry Ecosystem
3.2.1. Porter’s Five Forces Analysis
3.2.2. Recent Development Analysis
3.2.3. Value Chain Analysis
3.3. Competitive Insight
3.3.1. Competitive Position of Industry Players
3.3.2. Market Attractive Analysis
3.3.3. Market Share Analysis
4. Global Market Estimate and Forecast
4.1. Global Market Overview
4.2. Global Market Estimate and Forecast to 2030
5. Market Segmentation Estimate and Forecast
5.1. By Sourcing Type
5.1.1. In-House
5.1.1.1. Market Definition
5.1.1.2. Market Estimation and Forecast to 2030
5.1.2. Outsourced
5.1.2.1. Market Definition
5.1.2.2. Market Estimation and Forecast to 2030
5.2. By Service Type
5.2.1. Testing
5.2.1.1. Market Definition
5.2.1.2. Market Estimation and Forecast to 2030
5.2.2. Inspection
5.2.2.1. Market Definition
5.2.2.2. Market Estimation and Forecast to 2030
5.2.3. Certification
5.2.3.1. Market Definition
5.2.3.2. Market Estimation and Forecast to 2030
5.3. By Industry Vertical
5.3.1. Industrial Machinery and Automation
5.3.1.1. Market Definition
5.3.1.2. Market Estimation and Forecast to 2030
5.3.2. Instruments and Controls
5.3.2.1. Market Definition
5.3.2.2. Market Estimation and Forecast to 2030
5.3.3. Low and Medium Voltage Distribution
5.3.3.1. Market Definition
5.3.3.2. Market Estimation and Forecast to 2030
5.3.4. Manufacturing Facilities
5.3.4.1. Market Definition
5.3.4.2. Market Estimation and Forecast to 2030
5.3.5. Others
5.3.5.1. Market Definition
5.3.5.2. Market Estimation and Forecast to 2030
6. North America Market Estimate and Forecast
6.1. By Sourcing Type
6.2. By Service Type
6.3. By Industry Vertical
6.4. By Country
6.4.1. U.S. Market Estimate and Forecast
6.4.2. Canada Market Estimate and Forecast
6.4.3. Mexico Market Estimate and Forecast
7. Europe Market Estimate and Forecast
7.1. By Sourcing Type
7.2. By Service Type
7.3. By Industry Vertical
7.4. By Country
7.4.1. Germany Market Estimate and Forecast
7.4.2. France Market Estimate and Forecast
7.4.3. U.K. Market Estimate and Forecast
7.4.4. Italy Market Estimate and Forecast
7.4.5. Spain Market Estimate and Forecast
7.4.6. Rest of Europe Market Estimate and Forecast
8. Asia-Pacific Market Estimate and Forecast
8.1. By Sourcing Type
8.2. By Service Type
8.3. By Industry Vertical
8.4. By Country
8.4.1. China Market Estimate and Forecast
8.4.2. Japan Market Estimate and Forecast
8.4.3. India Market Estimate and Forecast
8.4.4. South Korea Market Estimate and Forecast
8.4.5. Singapore Market Estimate and Forecast
8.4.6. Rest of Asia-Pacific Market Estimate and Forecast
9. Rest of the World (RoW) Market Estimate and Forecast
9.1. By Sourcing Type
9.2. By Service Type
9.3. By Industry Vertical
9.4. By Country
9.4.1. Brazil Market Estimate and Forecast
9.4.2. Saudi Arabia Market Estimate and Forecast
9.4.3. South Africa Market Estimate and Forecast
9.4.4. Other Countries Market Estimate and Forecast
10. Company Profiles
10.1. Intertek Group plc
10.1.1. Snapshot
10.1.2. Overview
10.1.3. Offerings
10.1.4. Financial Insight
10.1.5. Recent Developments
10.2. Bureau Veritas
10.2.1. Snapshot
10.2.2. Overview
10.2.3. Offerings
10.2.4. Financial Insight
10.2.5. Recent Developments
10.3. UL LLC
10.3.1. Snapshot
10.3.2. Overview
10.3.3. Offerings
10.3.4. Financial Insight
10.3.5. Recent Developments
10.4. SGS SA
10.4.1. Snapshot
10.4.2. Overview
10.4.3. Offerings
10.4.4. Financial Insight
10.4.5. Recent Developments
10.5. Eurofins USA
10.5.1. Snapshot
10.5.2. Overview
10.5.3. Offerings
10.5.4. Financial Insight
10.5.5. Recent Developments
10.6. TUV Rheinland
10.6.1. Snapshot
10.6.2. Overview
10.6.3. Offerings
10.6.4. Financial Insight
10.6.5. Recent Developments
10.7. Lloyd Register Group Limited
10.7.1. Snapshot
10.7.2. Overview
10.7.3. Offerings
10.7.4. Financial Insight
10.7.5. Recent Developments
10.8. MISTRAS Group
10.8.1. Snapshot
10.8.2. Overview
10.8.3. Offerings
10.8.4. Financial Insight
10.8.5. Recent Developments
10.9. TUV SUD
10.9.1. Snapshot
10.9.2. Overview
10.9.3. Offerings
10.9.4. Financial Insight
10.9.5. Recent Developments
10.10. DNV GL
10.10.1. Snapshot
10.10.2. Overview
10.10.3. Offerings
10.10.4. Financial Insight
10.10.5. Recent Developments
11. Appendix
11.1. Exchange Rates
11.2. Abbreviations
Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.
List of Tables
Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type, 2018 - 2023 (USD Billion)
Table 5 Global TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type,2025 - 2030 (USD Billion)
Table 6 Global TIC Market for Industrial & Manufacturing Industry Size, By Service Type, 2018 - 2023 (USD Billion)
Table 7 Global TIC Market for Industrial & Manufacturing Industry Size, By Service Type,2025 - 2030 (USD Billion)
Table 8 Global TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical, 2018 - 2023 (USD Billion)
Table 9 Global TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical,2025 - 2030 (USD Billion)
Table 10 Global TIC Market for Industrial & Manufacturing Industry Size, by Region, 2018 - 2023 (USD Billion)
Table 11 Global TIC Market for Industrial & Manufacturing Industry Size, by Region,2025 - 2030 (USD Billion)
Table 12 North America TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type, 2018 - 2023 (USD Billion)
Table 13 North America TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type,2025 - 2030 (USD Billion)
Table 14 North America TIC Market for Industrial & Manufacturing Industry Size, By Service Type, 2018 - 2023 (USD Billion)
Table 15 North America TIC Market for Industrial & Manufacturing Industry Size, By Service Type,2025 - 2030 (USD Billion)
Table 16 North America TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical, 2018 - 2023 (USD Billion)
Table 17 North America TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical,2025 - 2030 (USD Billion)
Table 18 North America TIC Market for Industrial & Manufacturing Industry Size, by Region, 2018 - 2023 (USD Billion)
Table 19 North America TIC Market for Industrial & Manufacturing Industry Size, by Region,2025 - 2030 (USD Billion)
Table 20 Europe TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type, 2018 - 2023 (USD Billion)
Table 21 Europe TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type,2025 - 2030 (USD Billion)
Table 22 Europe TIC Market for Industrial & Manufacturing Industry Size, By Service Type, 2018 - 2023 (USD Billion)
Table 23 Europe TIC Market for Industrial & Manufacturing Industry Size, By Service Type,2025 - 2030 (USD Billion)
Table 24 Europe TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical, 2018 - 2023 (USD Billion)
Table 25 Europe TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical,2025 - 2030 (USD Billion)
Table 26 Europe TIC Market for Industrial & Manufacturing Industry Size, by Region, 2018 - 2023 (USD Billion)
Table 27 Europe TIC Market for Industrial & Manufacturing Industry Size, by Region,2025 - 2030 (USD Billion)
Table 28 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type, 2018 - 2023 (USD Billion)
Table 29 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type,2025 - 2030 (USD Billion)
Table 30 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, By Service Type, 2018 - 2023 (USD Billion)
Table 31 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, By Service Type,2025 - 2030 (USD Billion)
Table 32 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical, 2018 - 2023 (USD Billion)
Table 33 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical,2025 - 2030 (USD Billion)
Table 34 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, by Region, 2018 - 2023 (USD Billion)
Table 35 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, by Region,2025 - 2030 (USD Billion)
Table 36 RoW TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type, 2018 - 2023 (USD Billion)
Table 37 RoW TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type,2025 - 2030 (USD Billion)
Table 38 RoW TIC Market for Industrial & Manufacturing Industry Size, By Service Type, 2018 - 2023 (USD Billion)
Table 39 RoW TIC Market for Industrial & Manufacturing Industry Size, By Service Type,2025 - 2030 (USD Billion)
Table 40 RoW TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical, 2018 - 2023 (USD Billion)
Table 41 RoW TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical,2025 - 2030 (USD Billion)
Table 42 RoW TIC Market for Industrial & Manufacturing Industry Size, by Region, 2018 - 2023 (USD Billion)
Table 43 RoW TIC Market for Industrial & Manufacturing Industry Size, by Region,2025 - 2030 (USD Billion)
Table 44 Snapshot – Intertek Group plc
Table 45 Snapshot – Bureau Veritas
Table 46 Snapshot – UL LLC
Table 47 Snapshot – SGS SA
Table 48 Snapshot – Eurofins USA
Table 49 Snapshot – TUV Rheinland
Table 50 Snapshot – Lloyd Register Group Limited
Table 51 Snapshot – MISTRAS Group
Table 52 Snapshot – TUV SUD
Table 53 Snapshot – DNV GL
List of Figures
Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global TIC Market for Industrial & Manufacturing Industry - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global TIC Market for Industrial & Manufacturing Industry Highlight
Figure 12 Global TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type, 2018 - 2030(USD Billion)
Figure 13 Global TIC Market for Industrial & Manufacturing Industry Size, By Service Type, 2018 - 2030(USD Billion)
Figure 14 Global TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical, 2018 - 2030(USD Billion)
Figure 15 Global TIC Market for Industrial & Manufacturing Industry Size, by Region, 2018 - 2030(USD Billion)
Figure 16 North America TIC Market for Industrial & Manufacturing Industry Highlight
Figure 17 North America TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type, 2018 - 2030(USD Billion)
Figure 18 North America TIC Market for Industrial & Manufacturing Industry Size, By Service Type, 2018 - 2030(USD Billion)
Figure 19 North America TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical, 2018 - 2030(USD Billion)
Figure 20 North America TIC Market for Industrial & Manufacturing Industry Size, by Region, 2018 - 2030(USD Billion)
Figure 21 Europe TIC Market for Industrial & Manufacturing Industry Highlight
Figure 22 Europe TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type, 2018 - 2030(USD Billion)
Figure 23 Europe TIC Market for Industrial & Manufacturing Industry Size, By Service Type, 2018 - 2030(USD Billion)
Figure 24 Europe TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical, 2018 - 2030(USD Billion)
Figure 25 Europe TIC Market for Industrial & Manufacturing Industry Size, by Region, 2018 - 2030(USD Billion)
Figure 26 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Highlight
Figure 27 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type, 2018 - 2030(USD Billion)
Figure 28 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, By Service Type, 2018 - 2030(USD Billion)
Figure 29 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical, 2018 - 2030(USD Billion)
Figure 30 Asia-Pacific TIC Market for Industrial & Manufacturing Industry Size, by Region, 2018 - 2030(USD Billion)
Figure 31 RoW TIC Market for Industrial & Manufacturing Industry Highlight
Figure 32 RoW TIC Market for Industrial & Manufacturing Industry Size, By Sourcing Type, 2018 - 2030(USD Billion)
Figure 33 RoW TIC Market for Industrial & Manufacturing Industry Size, By Service Type, 2018 - 2030(USD Billion)
Figure 34 RoW TIC Market for Industrial & Manufacturing Industry Size, By Industry Vertical, 2018 - 2030(USD Billion)
Figure 35 RoW TIC Market for Industrial & Manufacturing Industry Size, by Region, 2018 - 2030(USD Billion)
Global TIC Market for Industrial & Manufacturing Industry- Market Coverage
Sourcing Type Insight and Forecast 2025-2030
Service Type Insight and Forecast 2025-2030
Industry Vertical Insight and Forecast 2025-2030
Geographical Segmentation
TIC Market for Industrial & Manufacturing Industry by Region
North America
Europe
Asia-Pacific (APAC)
Rest of the World (RoW)
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TIC Market for Industrial & Manufacturing Industry