Testing, Inspection, and Certification Market - Global Opportunity Analysis and Industry Forecast (2020-2027)

The Testing, Inspection, and Certification Market Is Expected to Reach $105.99 Billion, at a CAGR of 2.4% during the Forecast Period 2020-2027. The rise in the illicit trade of forged and pirated goods, strict regulatory standards imposed by governments and local observatory bodies, and consistent incorporation of advanced technologies to develop various testing and inspection techniques are the key factors driving the growth of the testing, inspection, and certification market. Besides, the organizations’ growing inclination toward outsourcing TIC services, rising awareness among consumers regarding product quality and safety, and the surge in demand for TIC services globally also contribute to the growth of the testing, inspection, and certification market. However, reliability concerns regarding new service providers and an uncertain regulatory environment are expected to hinder the growth of the TIC market.

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