Global Electrical & Electronics Testing, Inspection & Certification Market Analysis, Trends and Opportunities 2020 - 2024
Summary -
A new market
study, titled “Global Electrical & Electronics Testing, Inspection &
Certification Market - Global Demand,
Sales, Consumption and Forecasts to 2024“ has been featured on WiseGuyReports.
Market
Analysis:
The global
electrical & electronics testing, inspection, and certification market has
been witnessing a steady growth over the last few years. The factors
responsible for the growth of the electrical & electronics testing,
inspection, and certification market include increasing demand for household
appliance testing, growing need for electrical equipment validation, and
increasing globalization and growing brand protection. Testing, inspection,
certification (TIC) involves providing services to the companies operating
across various industrial verticals for improving the productivity, efficiency,
manufacturing process to meet the globally recognized standards, regulations,
and policies set by government to improve the quality of a product. The
testing, inspection, and certification services can be applied to any product,
service, or company. However, change in technologies and regulations is the
challenges faced by the electrical & electronics testing, inspection, and
certification market on a global scale.
The global
electrical & electronics testing, inspection, and certification market is
expected to reach approximately USD 133.11 billion by 2025, growing at a CAGR
of 5.8% from 2019 to 2025.
Market
Segmentation:
The market
has been divided into various segments based on service type, product, offering
and region. By service type, the market is segmented into testing, inspection,
and certification. Testing segment is expected to hold a major share of the
market. Various testing such as automotive testing, electrical component
testing, chemicals testing, packaging testing, food testing, material testing,
and textile and apparel testing, among others support organizations to surpass
the quality, performance, regulatory compliance, safety, benchmarking,
evaluation, validation, analysis and other requirements for products,
components, raw materials, plants and facilities. The certification segment is
expected to grow at the highest rate during the forecast period due to increasing
need for various certifications among organizations to enter various global
markets and comply with the environment and social regulatory policies of these
regions. By product, the market is broadly classified into electrical
component, household appliances, security & access control, smart wiring
system, HVAC systems, smart lighting system, e-toys, and others. The electrical
component segment is expected to lead the market whereas, the smart lighting
system segment is expected to show major growth owing to the increasing
adoption of LEDs and other lighting systems.
The
offering segment in the electrical & electronics testing, inspection, and
certification market comprises of Electromagnetic Compatibility, Electrical
Safety, Energy Efficiency Testing, Digital Services, Connectivity,
Cybersecurity Services, and others. The electromagnetic
interference/electromagnetic compatibility (EMI/EMC) test provides evaluation
and certification testing of electromagnetic interference and electromagnetic
compatibility measurements of the crew, flight, and ground support equipment
including communication, instrumentation, biomedical, guidance and navigation,
computation, and robotics due to which it is expected to hold a major market
share. Whereas, cybersecurity services is expected to grow at a significant
rate during the forecast period.
Regional
Analysis
Regional
and Country Analysis of Electrical & electronics testing, inspection, and
certification Market Estimation and Forecast
Geographically,
North America is dominating the electrical & electronics testing,
inspection, and certification market due to the various quality standard
certification followed across North America which include USTC, CEC, and NOM
among others. The US is a prominent market due to the high focus on maintaining
quality standards of the manufactured product is expected to influence the
market. Asia-Pacific is the fastest growing region, projecting a CAGR of 7.08%
where major contribution is witnessed from countries such as China and Japan,
due to the need of various product marking/certifications applicable in the
region include CCC China, China RoHS, BSMI mark, Taiwan, Korean RoHS, eK mark
(Korea), MIC mark (Korea), Hong Kong Electrical Products (Safety) Regulation,
C-Tick and Electrical Product Safety Australia/New Zealand, VCCI mark, and
Japan PSE mark.
Major
Players
The major
players of electrical & electronics testing, inspection, and certification
market include SGS SA (Switzerland), Bureau Veritas (France), DEKRA
Certification GmbH (Germany), Intertek Group PLC (UK), ALS Limited (Australia),
ASTM international (US), The British Standards Institution Group (London), SAI
Global Limited (Australia), TÜV SÜD (Germany), Applus+ (Spain), UL LLC (US),
NSF International (US), National Technical Systems, Inc. (US), TÜV Rheinland AG
(Germany), TÜV NORD AG (Germany), CSA Group (Canada), Element Materials
Technology (UK), and Eurofins Scientific (Switzerland).
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5166751-global-electrical-electronics-testing-inspection-certification-market-research
About Us:
Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.
Contact Us:
NORAH
TRENT
Ph: +162-825-80070
(US)
Ph: +44 2035002763
(UK)
Comments
Post a Comment