According to a research report titled ‘Global Pre-shipment inspection Market Size, by Sourcing Type (In-house and Outsourced), by Exim (Export Good and Import Good), by Application (Consumer goods & retail, agriculture & food, Chemicals, Construction & infrastructure, industrial & manufacturing and others) and Regional Forecasts 2020-2027’, available with Market Study Report, global pre-shipment inspection market was valued at USD 11.92 billion in 2019 and is expected to grow at 6.30% CAGR during 2020-2027, accruing USD 19.43 billion by the end of forecast period.
 

As per report findings, factors such as rapid growth in e-commerce sector as well as rising cognizance among end-users of application benefits are driving the growth of worldwide pre-shipment inspection market.
 

According to India Brand Equity Foundation (IBEF), e-commerce industry in India was worth USD 38.5 million in 2017 and is projected to reach USD 200 million by 2024. Furthermore, Statista reports that Germany e-commerce industry valuation stood at USD 110.13 million in 2019 and was expected to surpass USD 121 million by 2020.
 

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For those unversed, pre-shipment inspection is a technology used to inspect goods prior to shipment. It has several applications before shipment including quality control, checking packaging quality, and verification of documents relating to the end destination.
 

Pre-shipment inspection helps reduce the risk of non-compliance and poor-quality goods while minimizing product recalls and reduce cost. Additionally, rising demand for outsourcing inspection services is also boosting industry remuneration.
 

However, high costs associated with these services will impede worldwide pre-shipment market growth during the forecast period.
 

Based on sourcing type, global pre-shipment inspection market is classified into outsourced, and in-house. By EXIM, the industry is arrayed into import goods, and export goods.
 

Elaborating on application ambit, industrial & manufacturing, consumer goods & retail, agriculture & food, construction & infrastructure, chemicals, and others contribute to global pre-shipment inspection industry valuation.
 

Considering the regional outlook, North America grabbed a significant market share in the recent part, owing to rising demand for pre-shipment inspection from end user verticals. However, Asia Pacific pre-shipment market size is anticipated to record highest growth rate over 2020-2027.
 

Key contenders in global pre-shipment inspection market are SGS S.A., Intertek Group plc, Bureau Veritas, TÜV SÜD, TÜV Nord Group, Applus Tech, DEKRA, Eurofins Scientific, DQS CFS GmbH, and TUV Rheinland.