ALL >> General >> View Article
Which Region Is Expected To Witness Significant Demand For Tic Services In The Coming Years?
The TIC market in APAC is foreseen to augment at a significant rate owing to the increasing number of manufacturing companies in the region. Mandatory testing, inspection and certification of electronics and food & beverages have created a plethora of opportunities to spur the size of the market.
The report "Testing, Inspection, & Certification Market is expected to grow at a CAGR% of 4.7% from USD 218.4 billion in 2020 to USD 274.3 billion in 2025,. The primary reasons for this rise in demand is the increasing need for safety, surge in the illicit trade of counterfeit and pirated goods, advancements in networking and communication technologies, and inclination toward outsourced TIC services.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=5352498
Certification service to grow at highest CAGR of TIC market, by service type, in 2020
The market for certification services is expected to grow at the highest CAGR during the forecast period.
Certification bodies are providing product certification issue product certificates or licenses to organizations, which entitles them to display a mark of conformity of their products or issue a certificate indicating the products conformity with specified requirements. Product certification can offer the customer formal documentation that the product they have purchased has been tested by qualified personnel to the applicable codes and/or standards.
Agriculture and food application to grow at highest CAGR during forecast period
TIC services for the agriculture industry are required to ensure quality and improve the productivity of food products. These services also support companies playing a crucial role in trading agricultural commodities and food products by acquiring international certifications. Moreover, changing regulations, especially in the agriculture space across the world, would drive the adoption of TIC services by manufacturers.
APAC to hold largest share of TIC market in 2020
The highest CAGR growth is due to the presence of giant manufacturing electronic companies in countries such as China, Japan, India, as well as Vietnam, the Philippines, and Bangladesh. Domestic markets in APAC are growing rapidly owing to the rising per capita income among the middle-class population. Moreover, there is a growing consumer awareness about the importance of certification. TIC players are increasing their horizon by setting up their testing labs in the APAC countries as the potential of APAC countries on the overall various applications.
Request Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=5352498
A few key players operating in the TIC market are SGS (Switzerland), Bureau Veritas (France), Intertek (UK), Eurofins Scientific (Luxembourg), DEKRA (Germany), TÜV SÜD (Germany), TÜV Rheinland (Germany), DNV GL (Norway), among others.
General Articles1. Waterproof Cast Cover - An Effective Way To Safeguard Your Cast
2. Affordable Passengers Transport In Dubai Offers Enjoyable Journey
Author: Priya Thakur
3. Labor Transportation Buses In Dubai Offers Hassle-free Trips
Author: Priya Thakur
4. Road Marking Paints
Author: Zigma Paints
Author: Steve Scott
6. Dental Implants Process
Author: honey mehra
7. How Many Types Of Retrievers Are There? Read Here
Author: Manju Sharma
8. Online Education As A Catalyst For Reforming Higher Education
Author: school log
9. Orlando Wedding Photographer Making Your Day Extra Special!
Author: Live Happy Studio
10. Form Holding Company And Dwell In The High-risk Industry In A Hassle Free Manner!
11. 5 Reasons To Choose Indian Manpower Supplier
Author: David Daniel
12. Hand Cleaners And Sanitisers Sydney Are Best On The Use!
Author: forever gleam
13. Latest Software For Embedded Systems
Author: Mehul Mehta
14. 6 Principles Of Persuasion To Increase Conversions On Event Website
Author: Lucy Miranda
15. Appoint A Dependable Immigration Consultant In Chennai For Canada Immigration