From GlobeNewswire: 2025-05-06 04:30:00

The global Testing, Inspection and Certification (TIC) Market was valued at USD 255.19 Billion in 2024 and is projected to reach USD 262.97 Billion in 2025. By 2034, it is expected to hit around USD 352.24 Billion, with a CAGR of 3.4% from 2025 to 2034.

The TIC industry, valued at over USD 200 billion in 2022, is crucial for ensuring quality, safety, and compliance. Major players like SGS, Bureau Veritas, and TÜV NORD GROUP provide services to industries such as automotive, food, and energy.

Cutting-edge technologies like AI, ML, and IoT are transforming the TIC market, enhancing accuracy, efficiency, and speed. Regulatory compliance is driving market growth, with TIC playing a key role in ensuring products meet international safety and quality standards.

Government and consumer focus on sustainability is driving companies to adopt environmental audits and sustainability reporting. Initiatives like the European Commission’s Clean Industrial Deal aim to accelerate the shift towards a green economy and promote sustainable industrial change. The global Testing, Inspection and Certification (TIC) market is set to grow from a market size of USD 255.19 billion in 2024 to USD 352.24 billion by 2034, with a projected CAGR growth rate of 3.4%. Key segments include source, service type, application, industrial vertical, and region, with North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America being the regional scopes covered in the report.

The TIC market is driven by strong global demand for regulatory compliance, safety assurance, and quality control across industries such as automotive, healthcare, aerospace, and food. Major players like SGS, Bureau Veritas, TÜV SÜD, and DEKRA with global accreditation play a crucial role in facilitating international trade by ensuring products meet regulatory requirements. However, the market faces challenges such as excessive operating expenses, fragmentation, and dependency on certain industries for revenue.

Despite internal challenges, the TIC market presents growth opportunities in developing economies where globalization and industrialization are on the rise. Demand for TIC services in markets like Southeast Asia, Africa, and Latin America is fueled by growing concern for product safety and environmental compliance. Technological advances in AI, IoT, and automation also create opportunities for innovative services in emerging industries such as renewable energy, cybersecurity, and digital health.

The TIC sector faces threats from strict competition, particularly from local providers offering lower-cost options, which can lead to smaller margins and substandard service delivery. Coping with sophisticated and changing regulatory environments can cause delays in certification processes and risks of operation. The presence of non-accredited or unauthorized providers also poses a threat to the integrity of certified services and industry standards. The Testing, Inspection and Certification (TIC) Market Report answers key questions about market size, growth rate, top companies, categories served, and fastest-growing segments. The report includes market share, forecast, dynamics, segmentation, and competitive landscape. Get a free sample report and company profiles. Purchase the premium report for fast delivery.

In North America, strict regulatory standards in industries like healthcare, automotive, aerospace, and food & beverage are driving the TIC industry. UL Solutions, a global leader in safety science and testing, recently launched an IPO to raise approximately $1.1 billion. In Europe, stringent regulatory standards for consumer goods, automobiles, and health are driving demand for TIC services. Applus+ is integrating AI to enhance its inspection processes. The Asia-Pacific TIC market is growing rapidly due to technological innovations and changing regulatory environments. Eurofins S&L-T&H acquired Modern Testing Services to expand its global services network. Eurofins’ acquisition of MTS strengthens its global presence, especially in North America. The LAMEA region is witnessing a rise in TIC demand due to industrial growth and regulatory compliance. ONGC’s strategic expansion into energy projects across the Middle East, Africa, and Latin America includes acquiring PTC Energy to boost renewable energy capacity. The TIC market in LAMEA, particularly in the energy transition sector, is growing rapidly.

For more detailed information on the Testing, Inspection, and Certification (TIC) Market, customized reports can be requested at the provided link. Customization options include data for magazines, case studies, research papers, and other media. The full report offers insights on market size, growth analysis, industry trends, and forecasts till 2034. Major players in the TIC market include SGS, Bureau Veritas, TÜV NORD GROUP, and others. Free sample reports and special deals are available for interested parties. 1. The stock market saw a sharp decline today, with the Dow Jones Industrial Average dropping 500 points. This was attributed to concerns over rising inflation and interest rates, leading to investor unease.

2. In a groundbreaking discovery, scientists have found a new species of dinosaur in Argentina. The dinosaur, named Llukalkan aliocranianus, is believed to have been a carnivorous predator that lived during the Late Cretaceous period.

3. The latest unemployment numbers show a decrease in jobless claims, with 700,000 new claims filed last week. This marks a positive trend in the labor market, signaling a potential recovery from the economic impact of the pandemic.

4. The Biden administration announced a new infrastructure plan, aiming to invest $2 trillion in transportation, clean energy, and broadband. This initiative is expected to create millions of jobs and modernize the country’s infrastructure.

5. SpaceX successfully launched another batch of Starlink satellites into orbit, bringing the total number of satellites in the constellation to over 1,300. This is part of Elon Musk’s plan to provide global internet coverage through satellite technology. 1. The stock market reached record highs today, with the S&P 500 closing at 3,500 points, fueled by strong earnings reports from tech companies like Apple and Amazon.

2. Unemployment rates continue to drop, with the latest report showing a decrease to 7.9% as more businesses reopen and hire employees back.

3. A new study revealed that 70% of Americans have experienced financial hardship due to the pandemic, with 40% dipping into their savings to cover expenses.

4. The FDA approved a new rapid COVID-19 test that can provide results in just 15 minutes, offering a promising solution for widespread testing efforts.

5. Hurricane Laura made landfall in Louisiana as a Category 4 storm, causing widespread damage and prompting evacuations in several coastal areas.



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