According to Blueweave consulting the U.S.electrical & electronic Testing, Inspection, & Certification (TIC) market has reached USD 33,684.7 billion in 2020 and is further expected to reach USD 46,306.7 billion in the forecast period (2021-2026) at a CAGR of 5.72%.
The US TIC market is driven by several key factors. The rising demand for automotive testing, regulations designed for reducing greenhouse gas emissions from vehicles, and the growing energy conservation movement in the automotive sector are driving the market growth. Additionally, the growing use of TIC in the medical equipment industry is equally driving the growth of the sector.

Increasing TIC in the Medical Equipment Industry

The harmonization of standards, rising demand for medical equipment in the U.S., and growing need for verification and validation for medical equipment are a few factors driving the growth of the medical equipment testing market. Furthermore, strict government regulations and the growing trend of outsourcing medical equipment testing services are also propelling the market growth. The pandemic has further emphasized the growth of advanced low-cost medical equipment. Since such equipment must adhere to stringent medical device standards, henceforth, companies are capitalizing heavily on testing services.

A growing need for TIC services has been witnessed in the medical industry as well due to the ever-increasing demand for superior quality and standard products. Testing providers in the medical device testing industry ensure that medical devices comply with the essential safety, quality, performance, and regulatory standards. A few of the major instances of testing services are biocompatibility testing, electromedical equipment testing, and clinical research services which are used for the evaluation of the final product, investigation of defective material, as well as testing the performance of devices and the electrical safety of the equipment.

Increased demand in automotive testing

The automobile industry has experienced a constant rise in the incorporation of electronics architecture in automobiles. The increasing need for comfort and safety has paved the way for massive innovations and research and development efforts from original equipment manufacturers and automotive dealers for the testing of electronics parts and compliance with international and U.S. government regulations. Furthermore, the overall heaviness of the vehicles has augmented owing to the combination of electronic features. The regulations about vehicular fuel emissions and consumption will foster the demand for automotive testing.

Competitive Landscape

Key players operating in the United States Electrical & Electronics Testing, Inspection and Certification (TIC) market include UL LLC., Intertek Group plc., Eurofins Scientific, SGS SA, Bureau Veritas., Applus+, QIMA, CESI S.p.A, NTA and Nemko. These players are adopting strategies such as new product development, partnerships, and acquisitions to remain competitive in the United States Electrical & Electronics Testing, Inspection, and Certification (TIC) market.

The U.S. Electrical & Electronics Testing, Inspection, and Certification (TIC) Market is projected to grow strongly with the rising research and development expenses to address changing demands. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 players in recent years.

Read more: https://www.blueweaveconsulting.com/u.s.-electrical-&-electronics-testing,-inspection,-and-certification-(tic)-market