Worldwide Testing, Inspection, & Certification Industry to 2026 - Players Entering Forging Partnership With New Technology Providers Provide Opportunities - ResearchAndMarkets.com

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DUBLIN, July 29, 2021--(BUSINESS WIRE)--The "Testing, Inspection, & Certification Market Research Report by Service, by Industry Coverage, by Region - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Testing, Inspection, & Certification Market size was estimated at USD 202.62 Billion in 2020 and expected to reach USD 217.52 Billion in 2021, at a Compound Annual Growth Rate (CAGR) 7.69% to reach USD 316.07 Billion by 2026.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Testing, Inspection, & Certification Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Testing, Inspection, & Certification Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Testing, Inspection, & Certification Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Testing, Inspection, & Certification Market?

4. What is the competitive strategic window for opportunities in the Global Testing, Inspection, & Certification Market?

5. What are the technology trends and regulatory frameworks in the Global Testing, Inspection, & Certification Market?

6. What is the market share of the leading vendors in the Global Testing, Inspection, & Certification Market?

7. What modes and strategic moves are considered suitable for entering the Global Testing, Inspection, & Certification Market?

Market Dynamics

Drivers

  • Increasing trade between countries as a result of globalization and digitalization

  • Increasing Incidents of product recalls globally

  • Surge in global counterfeiting and piracy activities

  • Government regulations and standards enforcement pertaining to quality, health and environment safety across various sectors

  • End-user demand seeking third-party assurance and improved risk awareness and focus on risk prevention

  • Rise in conscious consumerism piling pressure on brands to protect their reputations

Restraints

  • Loosely defined standards and regulations across geographies

  • Trade wars and growth fluctuations among end-user industries

Opportunities

  • Increased outsourcing of testing, inspection & certification services and diversified requirement of products and standard regulations

  • Digital inspection, predictive maintenance and integrated sensors embracing TIC companies

  • Players entering forging partnership with new technology providers

Challenges

  • Complicated process of supply chains trading globally

  • Time taking overseas qualification tests

Companies Mentioned

  • ALS Limited

  • Applus Services SA

  • Applus Services, S.A.

  • Avomeen Analytical Services Inc

  • Boston Consulting Group

  • Bureau Veritas SA

  • Combined Selection Group Ltd

  • Dekra SE

  • DNV GL AS

  • Element Materials Technology Group Limited

  • Envigo International Holdings, Inc.

  • Eurofins Scientific SE

  • Intertek Group PLC

  • Kiwa NV

  • Medistri SA

  • Mistras Group, Inc.

  • Oaklins International Inc.

  • SGS SA

  • TUV Nord AG

  • TUV Rheinland Group

  • TUV SUD

  • UL LLC

For more information about this report visit https://www.researchandmarkets.com/r/bpksq6

View source version on businesswire.com: https://www.businesswire.com/news/home/20210729005579/en/

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