Global Testing, inspection, and certifications Market Report, published by Variant Market Research, forecast that the global market is expected to reach $351 billion by 2024 from $229 billion in 2016; growing at a CAGR of 5.5% from 2016 to 2024. By geography, Asia-Pacific and North America are expected to grow at a CAGR of 6% and 5.6%, respectively, during the forecast period.

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The major factors driving the global testing, inspection and certifications market are stringent regulation towards health and environment safety, globalization, and growing focus on outsourcing. However, lack of universally accepted standards is expected to restrict the market in the forthcoming years. Technological improvement and massive potential for testing, certification and inspection in developing countries is likely to gain significant impetus over the forecasted period.

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Type and application are the primary classifications of the global testing, inspection, and certification market. By type the market is further categorized into testing, certification, and inspection. The segmentation by application is given as aerospace, oil & gas, food & beverages, automotive, medical devices, automation, defence, telecommunication, textile, and others. By type, testing dominated the market with largest share in 2016, and is anticipated to dominate over the forecast period.

Geographically, the market is classified into North America, Europe, Asia-Pacific and Rest of the World (RoW). The largest market share of 32% was accounted by Europe in 2016, driven by rigorous health regulations in the region. The second largest market share of 27.9% was occupied by North America. In terms of growth, Asia-Pacific is expected to achieve the fastest CAGR of 6% during the forecast period i.e. 2016-2024, due to the blooming industrial sector & momentous rise in affluent consumers.

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The major players in the market include Bureau Veritas SA, Underwriters Laboratories Inc, Intertek Group PLC, AsureQuality Ltd., Dekra SE, SGS Group, ASTM International Lloyd's Register Group Limited, Element Materials Technology and ALS Ltd., among others.

Scope of Testing, Inspection, and Certification Market
Type Segment
• Testing
• Inspection
• Certification

Application Segment
• Food & Beverages
• Automotive
• Oil & gas
• Aerospace
• Textile
• Telecommunication
• Automation
• Medical devices
• Defence
• Others

Geographical Segments
• North America
o US
o Canada
o Mexico

• Europe
o Germany
o France
o UK
o Italy
o Others

• Asia-Pacific
o China
o India
o Japan
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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