123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Technology,-Gadget-and-Science >> View Article

North America Testing, Inspection And Certification (tic) Market - Growth, Trends, Covid-19 Impact,

Profile Picture
By Author: Statzy Market Research
Total Articles: 777
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

The advent of new technologies, along with stringent environmental norms and increasing health safety measures, changed the entire industry's viewpoint, with respect to the compliance of standards and regulations. Testing, inspection, and certification (TIC) play a significant role in ensuring that the infrastructure, services, and products meet the standards and regulations pertaining to safety and quality. Due to the increasing demand for inspection and testing processes at regular intervals across a few industries, such as oil and gas, the market is expected to witness growth, irrespective of the industrial seasonality.

- There is also an increase in the volume of international imports and exports, especially for products, such as food and medical products. The food and beverage, agriculture, consumer electronics, and automotive (electrical vehicles) markets are expected to provide more scope for TIC services. In addition to imports and exports, rapid technological advancements, which led to product diversity, and in some cases, shorter life-cycles, are expected to increase the usage of TIC services.

The increasing ...
... food safety audits drive the market in countries such as the United States. The Food and Drug Administration Authority (FDA) of the United States introduced the Food Safety Modernization Act in September 2019, to transform the country's food safety system, with its primary focus on preventing foodborne illnesses. Under this act, the government set different standards for a variety of food products. This resulted in rapid growth in the number of tests, inspections, and certification activities in the country.

- The market is witnessing improvements in the certification requirements in the country. For instance, the US Fish and Wildlife Service informed the Canadian Food Inspection Agency of the certification requirements, for future exports of live finfish (including salmonid species), germplasm or genetic material for culture, stocking, enhancement, and research on dead eviscerated salmonids for end-use, from Canada to the United States. This is expected to contribute to the market growth positively over the forecast period.

- With the increase in medical devices and equipment, along with the increase in personal protective equipment, owing to the recent outbreak of coronavirus pandemic, the market is expected to witness significant growth from the healthcare sector. Moreover, with the ongoing race to vaccine creation, the market will also present significant opportunities to the vendors serving the healthcare sector.

- For instance, in July 2020, SGS announced that it signed an agreement with AstraZeneca, primarily for the provision of safety, quality control, and analytical testing services in support of the AZD1222, which is a COVID-19 vaccine candidate co-invented by the University of Oxford and its spin-out company, Vaccitech, and licensed by AstraZeneca.

For sample report please visit :www.statzyreports.com/report/sr497548/north-america-testing-inspection-and-certification-tic-market

Key Market Trends

Consumer Goods and Retail Holds Significant Market Share

- The North American market is significantly driven by the rising number of rigorous government regulations to promote consumer safety and enhance its quality. The region has been importing billions of dollars of products, primarily to fulfill its domestic consumer's rapidly growing demands. Consumer products and retail are expected to be one of the fastest-growing segments, majorly due to the global expansion of online retail platforms.

- TIC services offered by the market vendors studied to cover the entire consumer products' value chain from the plan, buy, and make, to ship, stock, and sell to enable making informed quality and sourcing decisions. These testing services verify that the products are safe and conform to specifications. The advisory and inspection services enable customers to meet regulatory requirements.

- The increasing adoption of smart and wireless devices in the sector is also attracting many vendors to offer a range of product certification programs for smart and wireless devices to help customers meet the industry standards. These programs address various technologies, including Bluetooth SIG, NFC Forum, LoRa Alliance, GCF, and PTCRB for cellular. These certifications are required if products leverage cellular and wireless technologies.

- Further, in Aug 2020, NTS, a player in the testing, inspection, and certification, announced a milestone development in its strategic partnership with the United States Specialty Sports Association (USSSA). After the designation of NTS as the sole source for all the certification testing of Slow-Pitch Softball and Senior Youth Baseball Bats, USSSA will primarily require all the bats' manufacturers to include the NTS on the official test certification stamp.

Food Sector to Drive the Market Growth

- The increasing number of safety breaches in Canada and the United States' food industry has led to more complex and stringent regulations by the standards of federal and state agencies in the food processing and packaging sector.

- For instance, Peanut Corporation of America knowingly sold the peanut butter contaminated with Salmonella between 2008-2009, was the biggest food safety breach in North America. This reckless and dangerous decision of the quality assurance department had resulted in illness and even some deaths and closure of the company. It has killed nine people and 691 people affected across 46 states in the United States.

- Moreover, the growing demand for fast-food restaurants and processed food in the region has established various processed food companies. In order to survive the competition, most of the brands are harnessing the power of testing, inspection, and certification to promote and differentiate their products from others. Food processing brands are outsourcing the testing and certification to third parties to increase the authenticity and is expected to expand the market in the future.

- For instance, in July 2019, Tyson Foods, world second largest processor and marketer of chicken, beef, and pork, received a certification from the Professional Animal Auditor Certification Organization for its FarmCheck program for broiler chickens. This certification reflects the company's diligently effort to promote livestock's humane treatment throughout its supply chain and differentiate its offerings from others.

- Further, increasing health-conscious consumers and awareness about healthy and safe food products is expected to drive the future food testing and certification market.
- The outbreak of the COVID-19 pandemic has fueled the market and, mostly in the food packaging and healthcare sector, and plays a crucial role in assuring the safety and quality of the services and products.

Competitive Landscape

The North America testing, inspection and certification (TIC) market is concentrated and is dominated by a few major players like SGS Group​, Intertek, Bureau Veritas, TUV SUD, and ALS Limited. With a prominent share in the market, these major players are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies increase their market presence by securing new contracts and tapping new markets. Some of the recent developments in the market are:

- April 2020 - Intertek, a leading total quality assurance provider to industries, announced the updated version of its Intertek Global Security Verification standard. Since its inception, the GSV standard has been used to promote best practices throughout the global trade industry, enabling importers and suppliers to mitigate risks associated with the cross-border transport of goods. GSV 2.0 gives organizations increased safety assurance and a common industry platform for collaboration.

- January 2020 - Bureau Veritas, one of the leaders in testing, inspection, and certification (TIC) services, announced to bring on new talent across every continent in 2020, including engineers, surveyors, inspectors, auditors, laboratory technicians, as well as business support. It intents to hire more than 2,000 positions in the United States, 2,000 new talents in Europe, and 8,000 in Asia-Pacific. To support its robust growth, Bureau Veritas is expanding its recruitment efforts to bolster talent pools.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

For sample report please visit :www.statzyreports.com/report/sr497548/north-america-testing-inspection-and-certification-tic-market

Contact Us:
Poojan Dogra
Public Relations Manager
Email : sales@statzyreports.com
Email : info@statzyreports.com
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com

More About the Author

StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.

Total Views: 23Word Count: 1271See All articles From Author

Add Comment

Technology, Gadget and Science Articles

1. Why To Approach Magento Solutions
Author: Eldon Broady

2. Things To Look For Before Choosing A Wordpress Developer For Your Project
Author: Jonathan Paul

3. How Digital Technology Can Boost The Healthcare System
Author: Devesh kumar

4. Internet Of Things In Banking Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)
Author: Statzy Market Research

5. Privacy Filters Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)
Author: Statzy Market Research

6. Updated List Of Top Budget Laptops In May 2021
Author: Elisa Wilson

7. Data Analytics Outsourcing Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)
Author: Statzy Market Research

8. Quantum Cryptography Market In Bfsi - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)
Author: Statzy Market Research

9. Compound Your Revenue By Investing In Our Bigbasket Clone Script
Author: sherly dazz

10. Evidence Management Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)
Author: Statzy Market Research

11. Features And Bug Issues With The Latest Apple Podcasts App Update
Author: Elisa Wilson

12. Immersive Virtual Reality Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)
Author: Statzy Market Research

13. Enterprise Server Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)
Author: Statzy Market Research

14. Virtual Fitness Market - Growth And Key Industry Players Analysis 2020 And Forecast
Author: Ketan Wagh

15. Cloud Encryption Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)
Author: Statzy Market Research

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: