Testing, Inspection, and Certification (TIC) Market by Service Type (Testing, Inspection, Certification), Sourcing Type (In-house and Outsourced), Application (Consumer Goods & Retail, Agriculture & Food, Chemicals), and Geography - Global Forecast to 2023

 Published On: Oct, 2017 |    No of Pages: 234 |  Published By: MarketsandMarkets | Format: PDF
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TIC market is projected to grow at a CAGR of 5.02% between 2017 and 2023

The Testing, Inspection, and Certification (TIC) market is estimated to be USD 184.77 billion in 2017 and is expected to be worth USD 247.94 billion by 2023, growing at a CAGR of 5.02% between 2017 and 2023. Some of the drivers for this market are harmonization of standards, growing consumption of goods in emerging countries, increasing incidents of product recalls globally, surge in global counterfeiting and piracy activities, and imposition of rigorous government regulations and standards across various sectors. The main restrain for this market is divergent standards and regulations across geographies.

TIC market for certification services expected to grow at the highest CAGR during the forecast period

There has been an increasing demand for certification services owing to the increasing number of specified standards by governments and international standardization institutions. Companies are more aware about their credibility than before and certifications demonstrate the compliance of their products with specific standards and improve its marketability.

TIC market for in-house sourcing type accounted for the largest share in 2016

Earlier, manufacturers and organizations had to adhere to limited standards and regulations; hence, it was possible for companies to build their in-house testing and inspection capabilities. In recent years, the standards pertaining to human/user safety and environment safety have increased and become mandatory for certain category of products. However, this trend is shifting to the increase in outsourcing TIC services to specialized third-party service providers as they drastically reduce the operational expenditure for the manufacturers.

TIC market for agriculture and food application to grow at the highest CAGR during the forecast period

Increasing mandates to ensure the quality and improve the productivity of food products (packaged and unpackaged) and changing regulations in the agriculture space across the world would drive the adoption of TIC services by manufacturers of agricultural equipment.

APAC is expected to be the fastest-growing market for TIC services during the forecast period

Many economically advanced countries have their manufacturing units in the developing economies of Asia Pacific (APAC), especially China and India. These units are required to manufacture products in compliance with internationally accepted standards. Moreover, the domestic markets in APAC are growing rapidly because of the rising per capita income among the middle class.
 
Breakdown of profile of primary participants:

• By Company: Tier 1 – 53 %, Tier 2 – 15%, and Tier 3 – 32%
• By Designation: C-Level Executives – 48%, Directors = 27%, and Others = 25%
• By Region: North America – 19%, Europe – 43%, APAC – 33%, and RoW – 5%

The major players profiled in this report include:

• SGS (Switzerland)
• Bureau Veritas (France)
• Intertek (UK)
• DEKRA (Germany)
• TάV SάD (Germany)
• Eurofins Scientific (Luxembourg)
• DNV GL (Norway)
• TάV Rheinland (Germany)
• Applus (Spain)
• ALS (Australia)
• TάV Nord (Germany)
• Lloyd’s Register (UK)
• MISTRAS (US)
• Element Materials Technology (UK)
• UL (US)

Research Coverage

The study segments the testing, inspection, and certification market report into service type (testing services, inspection services, certification services, and others) and sourcing type (in-house and outsourced). The study also covers applications and provides the geographic forecast of the market size for various segments with regard to four main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Reasons to buy the report

The report would help the market leaders/new entrants in this market in the following ways:

1. This report segments the testing, inspection, and certification market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different applications and regions.
2. The report provides the detailed analysis of the testing, inspection, and certification market with the help of PEST analysis, competitive leadership mapping, and value chain analysis including key companies in the market and their relations in the ecosystem.
3. The report helps stakeholders to understand the pulse of the market and provides them information on the key market drivers, restraints, challenges, and opportunities.
4. This report would help stakeholders to understand their competitors better and gain insights to enhance their position in the business. The competitive landscape section includes the competitor ecosystem, product developments, partnerships, and mergers and acquisitions in the testing, inspection, and certification market.
TABLE OF CONTENTS

1 INTRODUCTION 21
1.1 OBJECTIVES OF THE STUDY 21
1.2 MARKET DEFINITION 21
1.3 MARKET SCOPE 22
1.3.1 MARKETS COVERED 22
1.3.2 GEOGRAPHIC SCOPE 23
1.3.3 YEARS CONSIDERED FOR THE STUDY 23
1.4 CURRENCY 23
1.5 LIMITATIONS 24
1.6 STAKEHOLDERS 24

2 RESEARCH METHODOLOGY 25
2.1 RESEARCH DATA 25
2.1.1 SECONDARY DATA 27
2.1.1.1 Secondary sources 27
2.1.2 PRIMARY DATA 28
2.1.2.1 Primary sources 28
2.1.2.2 Key industry insights 29
2.1.2.3 Breakdown of primaries 29
2.2 MARKET SIZE ESTIMATION 30
2.2.1 BOTTOM-UP APPROACH 30
2.2.2 TOP-DOWN APPROACH 31
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 32
2.4 ASSUMPTIONS 33

3 EXECUTIVE SUMMARY 34

4 PREMIUM INSIGHTS 39
4.1 LUCRATIVE OPPORTUNITIES IN TIC MARKET 39
4.2 TIC MARKET, BY SERVICE TYPE 39
4.3 TIC MARKET IN APAC 40
4.4 TIC MARKET, BY COUNTRIES 41

5 MARKET OVERVIEW 42
5.1 INTRODUCTION 42
5.2 MARKET DYNAMICS 42
5.2.1 DRIVERS 43
5.2.1.1 Harmonization of standards 43
5.2.1.2 Growing consumption of goods in emerging countries 44
5.2.1.3 Increasing incidents of product recalls globally 44
5.2.1.4 Surge in global counterfeiting and piracy activities 45
5.2.1.5 Imposition of rigorous government regulations and standards across various sectors 45
5.2.2 RESTRAINTS 45
5.2.2.1 Divergent standards and regulations across geographies 45
5.2.3 OPPORTUNITIES 46
5.2.3.1 Consolidation of fragmented markets 46
5.2.3.2 Inclination toward outsourcing TIC services 46
5.2.4 CHALLENGES 46
5.2.4.1 Complex nature of global supply chains 46
5.2.4.2 Long lead-time for overseas qualification tests 47

6 INDUSTRY TRENDS 48
6.1 INTRODUCTION 48
6.2 VALUE CHAIN ANALYSIS 48
6.3 CORE INDUSTRY SEGMENTS FOR THE OVERALL TIC MARKET 49
6.3.1.1 TIC standards and regulatory bodies 49
6.3.1.2 Companies offering TIC services 49
6.3.1.3 End-user industries 49
6.4 KEY INDUSTRY TRENDS 49
6.5 PEST ANALYSIS 50
6.5.1 POLITICAL FACTORS 50
6.5.2 ECONOMIC FACTORS 50
6.5.3 SOCIAL FACTORS 50
6.5.4 TECHNOLOGICAL FACTORS 51

7 TIC MARKET, BY SERVICE TYPE 52
7.1 INTRODUCTION 53
7.2 TESTING 54
7.3 INSPECTION 57
7.4 CERTIFICATION 59
7.5 OTHERS 62

8 TIC MARKET, BY SOURCING TYPE 64
8.1 INTRODUCTION 65
8.2 IN-HOUSE 66
8.3 OUTSOURCED 69

9 TIC MARKET, BY APPLICATION 71
9.1 INTRODUCTION 72
9.2 CONSUMER GOODS AND RETAIL 73
9.2.1 PERSONAL CARE AND BEAUTY PRODUCTS 73
9.2.2 HARD GOODS 74
9.2.3 SOFTLINES AND ACCESSORIES 74
9.2.4 TOYS AND JUVENILE PRODUCTS 74
9.2.5 ELECTRICAL & ELECTRONICS 75
9.2.6 OTHERS 76
9.3 AGRICULTURE AND FOOD 79
9.3.1 SEED AND CROP 79
9.3.2 FERTILIZERS 79
9.3.3 COMMODITIES 79
9.3.4 OTHERS 79
9.4 CHEMICALS 81
9.4.1 ASSET INTEGRITY MANAGEMENT SERVICES 81
9.4.2 PROJECT LIFE CYCLE SERVICES 81
9.4.3 FINISHED PRODUCT SERVICES 82
9.4.4 CHEMICAL FEEDSTOCKS SERVICES 82
9.4.5 OTHERS 82
9.5 CONSTRUCTION AND INFRASTRUCTURE 84
9.5.1 PROJECT MANAGEMENT 84
9.5.2 MATERIAL SERVICES 84
9.5.3 CONSTRUCTION MACHINERY & EQUIPMENT SERVICES 85
9.5.4 FACILITIES MANAGEMENT & INSPECTION SERVICES 86
9.5.5 OTHERS 86
9.6 ENERGY & POWER 88
9.6.1 ENERGY SOURCES 88
9.6.1.1 Nuclear 88
9.6.1.2 Wind 88
9.6.1.3 Solar 88
9.6.1.4 Alternative fuels 89
9.6.1.5 Fuel oils and gases 89
9.6.1.6 Coal 89
9.6.2 POWER GENERATION 89
9.6.3 POWER DISTRIBUTION 89
9.6.4 ASSET INTEGRITY MANAGEMENT SERVICES 89
9.6.5 PROJECT LIFE CYCLE SERVICES 89
9.6.6 OTHERS 90
9.7 INDUSTRIAL AND MANUFACTURING 91
9.7.1 SUPPLIERS RELATED SERVICES 91
9.7.2 PRODUCTION AND PRODUCTS RELATED SERVICES 91
9.7.3 PROJECTS RELATED SERVICES 92
9.7.4 OTHERS 92
9.8 MEDICAL AND LIFE SCIENCE 94
9.8.1 MEDICAL DEVICES 95
9.8.2 HEALTH, BEAUTY, & WELLNESS 95
9.8.3 CLINICAL SERVICES 95
9.8.4 LABORATORY SERVICES 96
9.8.5 BIOPHARMACEUTICAL AND PHARMACEUTICAL SERVICES 96
9.8.6 OTHERS 97
9.9 MINING 99
9.9.1 INSPECTION & SAMPLING SERVICE 99
9.9.2 ANALYTICAL SERVICE 99
9.9.3 EXPLORATION SERVICE 100
9.9.4 METALLURGY AND PROCESS DESIGN 100
9.9.5 PRODUCTION AND PLANT SERVICES 100
9.9.6 SITE OPERATIONS & CLOSURE 100
9.9.7 PROJECT RISK ASSESSMENT & MITIGATION 100
9.10 OIL & GAS, AND PETROLEUM 102
9.10.1 UPSTREAM 102
9.10.2 DOWNSTREAM 103
9.10.3 BIOFUELS & FEEDSTOCK 103
9.10.4 PETROCHEMICALS 104
9.10.5 ASSET INTEGRITY MANAGEMENT SERVICES 104
9.10.6 PROJECT LIFE CYCLE SERVICES 105
9.10.7 OTHERS 105
9.11 PUBLIC SECTOR 107
9.11.1 PRODUCT CONFORMITY ASSESSMENT 107
9.11.2 MONITORING SERVICES 107
9.11.3 VALUATION SERVICES 107
9.11.4 OTHERS 108
9.12 TRANSPORTATION 110
9.12.1 AUTOMOTIVE 111
9.12.1.1 Electrical systems and components 111
9.12.1.2 Electric vehicles, hybrid electric vehicles, and battery systems 111
9.12.1.3 Telematics 112
9.12.1.4 Fuels, fluids, and lubricants 112
9.12.1.5 Interior and exterior materials and components 112
9.12.1.6 Vehicle Inspection Services (VIS) 113
9.12.1.7 Homologation Testing 113
9.12.1.8 Others 113
9.12.2 AEROSPACE AND DEFENSE 115
9.12.2.1 Services for airports 115
9.12.2.2 Services for aviation 115
9.12.2.3 Services for aerospace 115
9.12.3 MARINE 117
9.12.3.1 Marine fuel systems & component services 117
9.12.3.2 Ship classification services 117
9.12.3.3 Marine materials & equipment services 117
9.12.3.4 Others 118
9.12.4 RAIL 119
9.12.4.1 Rail testing services 119
9.12.4.2 Rail inspection services 119
9.12.4.3 Rail certification services 119
9.12.4.4 Others 119
9.13 SUPPLY CHAIN AND LOGISTICS 121
9.13.1 PACKAGING & HANDLING 121
9.13.2 RISK MANAGEMENT 121
9.13.3 OTHERS 121

10 GEOGRAPHIC ANALYSIS 124
10.1 INTRODUCTION 125
10.2 NORTH AMERICA 127
10.2.1 US 130
10.2.2 REST OF NORTH AMERICA 130
10.2.2.1 Canada 130
10.2.2.2 Mexico 131
10.3 EUROPE 132
10.3.1 UK 134
10.3.2 GERMANY 134
10.3.3 FRANCE 134
10.3.4 ITALY 135
10.3.5 SPAIN 135
10.3.6 REST OF EUROPE 135
10.4 ASIA PACIFIC 136
10.4.1 CHINA 139
10.4.2 JAPAN 139
10.4.3 INDIA 139
10.4.4 SOUTH KOREA 139
10.4.5 AUSTRALIA 140
10.4.6 REST OF APAC 140
10.5 REST OF THE WORLD 141
10.5.1 SOUTH AMERICA 143
10.5.2 MIDDLE EAST & AFRICA 143

11 COMPETITIVE LANDSCAPE 145
11.1 OVERVIEW 145
11.2 KEY PLAYERS IN TIC MARKET 146
11.3 COMPETITIVE SITUATIONS AND TRENDS 148
11.3.1 SERVICE LAUNCH AND PRODUCT DEVELOPMENT 149
11.3.2 PARTNERSHIP AND COLLABORATION 150
11.3.3 MERGER AND ACQUISITION 150
11.3.4 SERVICE EXPANSION 151

12 COMPANY PROFILES 152 (Overview, Services offered, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, Key relationships)*
12.1 SGS 152
12.2 BUREAU VERITAS 159
12.3 INTERTEK 167
12.4 DEKRA 172
12.5 EUROFINS SCIENTIFIC 176
12.6 TάV SάD 181
12.7 DNV GL 186
12.8 TάV RHEINLAND 191
12.9 APPLUS 195
12.10 ALS 199
12.11 TάV NORD 204
12.12 LLOYD’S REGISTER 209
12.13 MISTRAS 212
12.14 ELEMENT MATERIALS TECHNOLOGY 216
12.15 UL 220
12.16 KEY INNOVATORS 223
12.16.1 AVOMEEN ANALYTICAL SERVICES 223
12.16.2 MEDISTRI 223
12.16.3 ENVIGO 223

*Details on Overview, Services offered, Strength of Service Portfolio, Business Strategy Excellence, Recent Developments, Key relationships might not be captured in case of unlisted companies.

13 APPENDIX 224
13.1 INSIGHTS OF INDUSTRY EXPERTS 224
13.2 DISCUSSION GUIDE 225
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 228
13.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 230
13.5 AVAILABLE CUSTOMIZATIONS 231
13.6 RELATED REPORTS 231
13.7 AUTHOR DETAILS 232

LIST OF TABLES

TABLE 1 MERGERS AND ACQUISITIONS – LEADING TREND AMONG KEY MARKET PLAYERS 49
TABLE 2 TIC MARKET, BY SERVICE TYPE, 2015–2023 (USD BILLION) 54
TABLE 3 TIC MARKET FOR TESTING SERVICES, BY APPLICATION, 2015–2023 (USD BILLION) 56
TABLE 4 TIC MARKET FOR TESTING SERVICES, BY TRANSPORTATION, 2015–2023 (USD BILLION) 56
TABLE 5 TIC MARKET FOR INSPECTION SERVICES, BY APPLICATION, 2015–2023 (USD BILLION) 57
TABLE 6 TIC MARKET FOR INSPECTION SERVICES, BY TRANSPORTATION, 2015-2023 (USD BILLION) 58
TABLE 7 TIC MARKET FOR CERTIFICATION SERVICES, BY APPLICATION, 2015–2023 (USD BILLION) 61
TABLE 8 TIC MARKET FOR CERTIFICATION SERVICES, BY TRANSPORTATION, 2015–2023 (USD BILLION) 61
TABLE 9 TIC MARKET FOR OTHER SERVICES, BY APPLICATION, 2015–2023 (USD BILLION) 62
TABLE 10 TIC MARKET FOR OTHER SERVICES, BY TRANSPORTATION, 2015–2023 (USD BILLION) 63
TABLE 11 TIC MARKET, BY SOURCING TYPE, 2015–2023 (USD BILLION) 66
TABLE 12 TIC MARKET FOR IN-HOUSE SOURCING TYPE, BY APPLICATION, 2015–2023 (USD BILLION) 68
TABLE 13 TIC MARKET FOR IN-HOUSE SOURCING TYPE, BY TRANSPORTATION, 2015–2023 (USD BILLION) 68
TABLE 14 TIC MARKET FOR OUTSOURCED SOURCING TYPE, BY APPLICATION, 2015–2023 (USD BILLION 69
TABLE 15 TIC MARKET FOR OUTSOURCED SOURCING TYPE, BY TRANSPORTATION, 2015–2023 (USD BILLION) 70
TABLE 16 TIC MARKET, BY APPLICATION, 20152023 (USD BILLION) 73
TABLE 17 TIC MARKET FOR CONSUMER GOODS AND RETAIL, BY APPLICATION, 2015–2023 (USD BILLION) 77
TABLE 18 TIC MARKET FOR CONSUMER GOODS AND RETAIL, BY SERVICE TYPE, 2015–2023 (USD BILLION) 78
TABLE 19 TIC MARKET FOR CONSUMER GOODS AND RETAIL, BY SOURCING TYPE, 2015–2023 (USD BILLION) 78
TABLE 20 TIC MARKET FOR AGRICULTURE & FOOD, BY APPLICATION, 2015–2023 (USD BILLION) 80
TABLE 21 TIC MARKET FOR AGRICULTURE & FOOD, BY SERVICE TYPE, 2015-2023 (USD BILLION) 80
TABLE 22 TIC MARKET FOR AGRICULTURE & FOOD, BY SOURCING TYPE, 2015–2023 (USD BILLION) 81
TABLE 23 TIC MARKET FOR CHEMICALS, BY APPLICATION, 2015–2023 (USD BILLION) 83
TABLE 24 TIC MARKET FOR CHEMICALS, BY SERVICE TYPE, 2015–2023 (USD BILLION) 83
TABLE 25 TIC MARKET FOR CHEMICALS, BY SOURCING TYPE, 2015–2023 (USD BILLION) 84
TABLE 26 TIC MARKET FOR CONSTRUCTION & INFRASTRUCTURE, BY APPLICATION, 2015–2023 (USD BILLION) 86
TABLE 27 TIC MARKET FOR CONSTRUCTION & INFRASTRUCTURE, BY SERVICE TYPE, 2015–2023 (USD BILLION) 87
TABLE 28 TIC MARKET FOR CONSTRUCTION & INFRASTRUCTURE, BY SOURCING TYPE, 2015–2023 (USD BILLION) 88
TABLE 29 TIC MARKET FOR ENERGY & POWER, BY APPLICATION, 2015–2023 (USD BILLION) 90
TABLE 30 TIC MARKET FOR ENERGY & POWER, BY SERVICE TYPE, 2015–2023 (USD BILLION) 90
TABLE 31 TIC MARKET FOR ENERGY & POWER, BY SOURCING TYPE, 2015–2023 (USD BILLION) 91
TABLE 32 TIC MARKET FOR INDUSTRIAL & MANUFACTURING, BY APPLICATION, 2015–2023 (USD BILLION) 93
TABLE 33 TIC MARKET FOR INDUSTRIAL & MANUFACTURING, BY SERVICE TYPE, 2015–2023 (USD BILLION) 93
TABLE 34 TIC MARKET FOR INDUSTRIAL & MANUFACTURING, BY SOURCING TYPE, 2015–2023 (USD BILLION) 94
TABLE 35 TIC MARKET, BY MEDICAL & LIFE SCIENCES, BY APPLICATION, 2015–2023 (USD BILLION) 97
TABLE 36 TIC MARKET FOR MEDICAL & LIFE SCIENCES, BY SERVICE TYPE, 2015–2023 (USD BILLION) 98
TABLE 37 TIC MARKET FOR MEDICAL & LIFE SCIENCES, BY SOURCING TYPE, 2015–2023 (USD BILLION) 99
TABLE 38 TIC MARKET FOR MINING, BY APPLICATION, 2015–2023 (USD MILLION) 101
TABLE 39 TIC MARKET FOR MINING, BY SERVICE TYPE, 2015–2023 (USD MILLION) 101
TABLE 40 TIC MARKET FOR MINING, BY SOURCING TYPE, 2015–2023 (USD BILLION) 102
TABLE 41 TIC MARKET FOR OIL & GAS AND PETROLEUM, BY APPLICATION, 2015–2023 (USD BILLION) 106
TABLE 42 TIC MARKET FOR OIL & GAS AND PETROLEUM, BY SERVICE TYPE, 2015–2023 (USD BILLION) 106
TABLE 43 TIC MARKET FOR OIL & GAS AND PETROLEUM, BY SOURCING TYPE, 2015–2023 (USD BILLION) 107
TABLE 44 TIC MARKET FOR PUBLIC SECTOR, BY APPLICATION, 2015–2023 (USD BILLION) 108
TABLE 45 TIC MARKET FOR PUBLIC SECTOR, BY SERVICE TYPE, 2015–2023 (USD BILLION) 108
TABLE 46 TIC MARKET FOR PUBLIC SECTOR, BY SOURCING TYPE, 2015–2023 (USD BILLION) 109
TABLE 47 TIC MARKET FOR TRANSPORTATION, BY APPLICATION, 2015–2023 (USD BILLION) 110
TABLE 48 TIC MARKET FOR TRANSPORTATION, BY SERVICE TYPE, 2015–2023 (USD BILLION) 110
TABLE 49 TIC MARKET FOR TRANSPORTATION, BY SOURCING TYPE, 2015–2023 (USD BILLION) 111
TABLE 50 TIC MARKET FOR AUTOMOTIVE, BY APPLICATION, 2015-2023 (USD BILLION) 114
TABLE 51 TIC MARKET FOR AUTOMOTIVE, BY SERVICE TYPE, 2015–2023 (USD BILLION) 115
TABLE 52 TIC MARKET FOR AEROSPACE, BY APPLICATION, 2015–2023 (USD BILLION) 116
TABLE 53 TIC MARKET FOR AEROSPACE, BY SERVICE TYPE, 2015–2023 (USD BILLION) 116
TABLE 54 TIC MARKET FOR MARINE, BY APPLICATION, 2015–2023 (USD BILLION) 118
TABLE 55 TIC MARKET FOR MARINE, BY SERVICE TYPE, 2015–2023 (USD BILLION) 118
TABLE 56 TIC MARKET FOR RAIL, BY APPLICATION, 2015–2023 (USD MILLION) 120
TABLE 57 TIC MARKET FOR RAIL, BY SERVICE TYPE, 2015–2023 (USD MILLION) 120
TABLE 58 TIC MARKET FOR SUPPLY CHAIN AND LOGISTICS, BY APPLICATION, 2015–2023 (USD BILLION) 121
TABLE 59 TIC MARKET FOR SUPPLY CHAIN AND LOGISTICS, BY SERVICE TYPE, 2015–2023 (USD BILLION) 122
TABLE 60 TIC MARKET FOR SUPPLY CHAIN AND LOGISTICS APPLICATION, BY SOURCING TYPE, 2015–2023 (USD BILLION) 123
TABLE 61 TIC MARKET, BY REGION, 2015–2023 (USD BILLION) 126
TABLE 62 TIC MARKET IN NORTH AMERICA, BY COUNTRY, 2015–2023 (USD BILLION) 128
TABLE 63 TIC MARKET IN NORTH AMERICA, BY APPLICATION, 2015–2023 (USD BILLION) 128
TABLE 64 TIC MARKET IN NORTH AMERICA, BY TRANSPORTATION, 2015–2023 (USD BILLION) 129
TABLE 65 TIC MARKET IN EUROPE, BY COUNTRY/REGION, 2015-2023 (USD BILLION) 132
TABLE 66 TIC MARKET IN EUROPE, BY APPLICATION, 2015-2023 (USD BILLION) 133
TABLE 67 TIC MARKET IN EUROPE, BY TRANSPORTATION, 2015-2023 (USD BILLION) 133
TABLE 68 TIC MARKET IN APAC, BY COUNTRY/REGION, 2015-2023 (USD BILLION) 137
TABLE 69 TIC MARKET IN APAC, BY APPLICATION, 2015-2023 (USD BILLION) 138
TABLE 70 TIC MARKET IN APAC, BY TRANSPORTATION, 2015-2023 (USD BILLION) 138
TABLE 71 TIC MARKET IN ROW, BY REGION, 2015-2023 (USD BILLION) 141
TABLE 72 TIC MARKET IN ROW, BY APPLICATION, 2015-2023 (USD BILLION) 142
TABLE 73 TIC MARKET IN ROW, BY TRANSPORTATION, 2015-2023 (USD BILLION) 142
TABLE 74 TOP 5 PLAYERS IN TIC MARKET, 2016 146
TABLE 75 SERVICE LAUNCH AND PRODUCT DEVELOPMENT (2015–2017) 149
TABLE 76 PARTNERSHIP AND COLLABORATION (2015–2017) 150
TABLE 77 MERGERS AND ACQUISITIONS (2017) 150
TABLE 78 SERVICE EXPANSION (2016–2017) 151

LIST OF FIGURES

FIGURE 1 TIC MARKET SEGMENTATION 22
FIGURE 2 PROCESS FLOW OF MARKET SIZE ESTIMATION 25
FIGURE 3 RESEARCH DESIGN 26
FIGURE 4 DATA TRIANGULATION METHODOLOGY 32
FIGURE 5 TIC MARKET, BY APPLICATION, SNAPSHOT, 2017–2023 (USD BILLION) 35
FIGURE 6 TESTING SERVICES LIKELY TO HOLD LARGEST SHARE IN THE OVERALL MARKET BETWEEN 2017 AND 2022 36
FIGURE 7 OUTSOURCED TIC MARKET LIKELY TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 36
FIGURE 8 AUTOMOTIVE TO EXHIBIT HIGHEST GROWTH IN TIC MARKET DURING FORECAST PERIOD FOR TRANSPORTATION APPLICATION 37
FIGURE 9 APAC LED TIC MARKET IN 2016 38
FIGURE 10 INCREASING DEMAND FOR TIC SERVICES IS EXPECTED TO DRIVE GROWTH OF MARKET DURING FORECAST PERIOD 39
FIGURE 11 TESTING SERVICES TO HOLD MAJOR MARKET SIZE IN TIC MARKET DURING FORECAST PERIOD 39
FIGURE 12 TRANSPORTATION APPLICATION HELD LARGEST SHARE OF TIC MARKET IN 2016 40
FIGURE 13 EMERGING MARKETS, SUCH AS CHINA AND INDIA, ARE SOME OF THE GROWING COUNTRIES BETWEEN 2017 AND 2023 41
FIGURE 14 TIC MARKET DYNAMICS 43
FIGURE 15 VALUE CHAIN ANALYSIS OF THE TIC MARKET 48
FIGURE 16 CERTIFICATION SERVICES TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 53
FIGURE 17 TRANSPORTATION APPLICATION TO HOLD LARGEST SHARE OF TIC MARKET FOR TESTING SERVICES BETWEEN 2017 AND 2023 55
FIGURE 18 AUTOMOTIVE APPLICATION EXPECTED TO GROW AT HIGHEST CAGR IN TIC MARKET FOR INSPECTION SERVICES DURING FORECAST PERIOD 58
FIGURE 19 MEDICAL & LIFE SCIENCES APPLICATION EXPECTED TO GROW AT THE HIGHEST CAGR FOR CERTIFICATION SERVICES DURING FORECAST PERIOD 60
FIGURE 20 OUTSOURCED TIC MARKET EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 65
FIGURE 21 AGRICULTURE AND FOOD APPLICATION EXPECTED TO HAVE HIGHEST CAGR IN IN-HOUSE TIC MARKET DURING FORECAST PERIOD 67
FIGURE 22 AUTOMOTIVE APPLICATION TO HOLD LARGEST SHARE OF OUTSOURCED TIC MARKET IN 2017 70
FIGURE 23 TIC MARKET, BY APPLICATION, 2015–2023 (USD BILLION) 72
FIGURE 24 SOFTLINES AND ACCESSORIES TO GROW AT HIGHEST CAGR IN TIC MARKET DURING FORECAST PERIOD 77
FIGURE 25 ASSET INTEGRITY MANAGEMENT SERVICES TO HOLD LARGEST SHARE OF TIC MARKET FOR CHEMICALS APPLICATION IN 2017 82
FIGURE 26 IN-HOUSE TO HOLD LARGEST SHARE OF TIC MARKET FOR CONSTRUCTION AND INFRASTRUCTURE APPLICATION IN 2017 87
FIGURE 27 PRODUCTION AND PRODUCTS RELATED SERVICES TO GROW AT HIGHEST CAGR IN TIC MARKET FOR INDUSTRIAL & MANUFACTURING APPLICATION DURING FORECAST PERIOD 92
FIGURE 28 OUTSOURCED TIC MARKET TO GROW AT HIGHEST CAGR FOR MEDICAL AND LIFE SCIENCES APPLICATION DURING FORECAST PERIOD 98
FIGURE 29 UPSTREAM SERVICES TO HOLD LARGEST SHARE OF TIC MARKET FOR OIL & GAS AND PETROLEUM APPLICATION IN 2017 105
FIGURE 30 IN-HOUSE TO HOLD LARGEST SHARE OF TIC MARKET FOR PUBLIC SECTOR APPLICATION IN 2017 109
FIGURE 31 ELECTRICAL SYSTEMS AND COMPONENTS TO GROW AT HIGHEST CAGR IN TIC MARKET FOR AUTOMOTIVE APPLICATION DURING FORECAST PERIOD 114
FIGURE 32 OUTSOURCED TO GROW AT HIGHEST CAGR IN TIC MARKET FOR SUPPLY CHAIN AND LOGISTICS APPLICATION DURING FORECAST PERIOD 122
FIGURE 33 GEOGRAPHIC SNAPSHOT: RAPIDLY GROWING COUNTRIES, SUCH AS INDIA AND CHINA, ARE EMERGING AS POTENTIAL NEW MARKETS 125
FIGURE 34 TIC MARKET IN APAC LIKELY TO WITNESS THE HIGHEST CAGR DURING THE FORECAST PERIOD 126
FIGURE 35 SNAPSHOT OF TIC MARKET IN NORTH AMERICA 127
FIGURE 36 AUTOMOTIVE APPLICATION LIKELY TO HOLD LARGEST SHARE OF TIC MARKET IN NORTH AMERICA IN 2017 129
FIGURE 37 GERMANY LIKELY TO GROW AT HIGHEST CAGR IN TIC MARKET IN EUROPE DURING FORECAST PERIOD 132
FIGURE 38 SNAPSHOT OF TIC MARKET IN ASIA PACIFIC 136
FIGURE 39 CHINA TO HOLD LARGEST SHARE OF TIC MARKET IN APAC IN 2017 137
FIGURE 40 SOUTH AMERICA TO GROW AT HIGHEST CAGR IN TIC MARKET IN ROW DURING FORECAST PERIOD 141
FIGURE 41 COMPANIES ADOPTED ACQUISITIONS AS THE KEY GROWTH STRATEGY BETWEEN 2013 AND 2017 145
FIGURE 42 MARKET EVOLUTION FRAMEWORK—ACQUISITION AS THE MAJOR STRATEGY ADOPTED BY KEY PLAYERS 148
FIGURE 43 BATTLE FOR MARKET SHARE: ACQUISITIONS AND SERVICE EXPANSIONS WERE THE KEY STRATEGY ADOPTED DURING 2014–2017 148
FIGURE 44 SGS: COMPANY SNAPSHOT 152
FIGURE 45 BUREAU VERITAS: COMPANY SNAPSHOT 159
FIGURE 46 INTERTEK: COMPANY SNAPSHOT 167
FIGURE 47 DEKRA: COMPANY SNAPSHOT 172
FIGURE 48 EUROFINS SCIENTIFIC: COMPANY SNAPSHOT 176
FIGURE 49 TάV SάD: COMPANY SNAPSHOT 181
FIGURE 50 DNV GL: COMPANY SNAPSHOT 186
FIGURE 51 TάV RHEINLAND: COMPANY SNAPSHOT 191
FIGURE 52 APPLUS: COMPANY SNAPSHOT 195
FIGURE 53 ALS: COMPANY SNAPSHOT 199
FIGURE 54 TάV NORD: COMPANY SNAPSHOT 204
FIGURE 55 MISTRAS: COMPANY SNAPSHOT 212

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