According to the research report titled ‘Testing, Inspection and Certification (TIC) Services Market Size, By Service (Testing, Inspection, Certification), By Type, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with MarketStudyReport, global testing inspection and certification (TIC) market is projected to grow considerably between 2020-2026.
 

Rapid globalization, stringent government regulations, and the ability to ensure greater consumer protection by offering safer products are the key factors driving global testing, inspection and certification market expansion.
 

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For the unaware, testing, inspection and certification services include industrial site inspections, product testing, supply chain certifications, management system auditing & certification, periodic car inspections, pre-shipment inspection, consignment-based conformity assessments, and others.
 

Moreover, these services help government agencies to increase efficiency and use limited market surveillance resources properly thus aiding revenue inflow. Increasing utilization of TIC services by manufacturers to reduce in-house compliance costs will also facilitate industry growth. 
 

Based on services type, others segment of global testing, inspection and certification services market is slated to expand at 4% CAGR between 2020-2026, owing to surging demand for asset management & consultation services in the manufacturing and industrial sectors.
 

Speaking of application scope, the report cites that oil, gas, and chemical applications held 15% of the industry share in 2019, primarily due to rising adoption in storage, manufacturing, and transportation processes. TIC services are also used in upstream as well as downstream and in petrochemical applications, thus fueling the segmental size.
 

From the regional frame of reference, Middle East & Africa market is projected to register 7% CAGR through 2026, owing to growing demand for TIC services in oil & gas refineries.
 

Leading players shaping global testing, inspection and certification market dynamics are UL LLC, ALS Limited, APAVE Group, KIWA N.V., MISTRAS Group Inc., AmSpec Services LLC, SOCOTEC Industries S.A., Applus+, SGS S.A., RINA S.p.A, BSI Group, Bureau Veritas Group, Synlab Group, Sai Global Limited, Core Laboratories N.V., DNV GL, DEKRA, Intertek Group plc, Eurofins Scientific Inc., NCML Finance Private Limited, Lloyd’s Register Group Limited, TÜV SÜD, TÜV Nord Group, and TÜV Rheinland.