Testing, Inspection and Certification (TIC) Market Is Expected to Reach $50.44 Billion by 2020

Testing Inspection and Certification (TIC) Market analysis & forecast report categorizes global Aerospace (Airframe, Avionics, Rotor System, PSU, Lighting), Life Sciences (Healthcare, Agriculture, Pharma, Medical, Personal Care, Environmental & Geography."


Dallas, TX -- (SBWIRE) -- 04/01/2015 -- According to a new market research report "Testing Inspection and Certification (TIC) Market by Application; Aerospace (Airframe, Avionics, Rotor System, PSU, Lighting), Life Sciences (Healthcare, Agriculture, Pharma, Medical, Personal Care, Environmental), and Geography - Global Forecast to 2020", published by MarketsandMarkets, the Testing, Inspection and Certification (TIC) Market is expected to reach $50.44 Billion by 2020, growing at a CAGR of 5.80% between 2014 and 2020.

Browse 69 market data tables and 50 figures spread through 170 pages and in-depth TOC on "Testing, Inspection and Certification (TIC) Market".

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The testing, inspection and certification services help the manufactures meet the global standards and enhance the quality of the products. Moreover, these services assure the consumers and end-users that manufactures have followed the international standards and regulations. Testing, inspection and certification is a service industry where the people, flexibility, workflow, and IT systems play a major role, therefore this industry is not capital intensive.

The Testing, Inspection, and Certification (TIC) industry serves a wide range of applications which include life sciences, aerospace, agriculture, automotive, oil and gas, food, industrial, petrochemical, maritime, commodities, chemicals and pharmaceuticals, electronics, textiles, and many more. This report provides a detailed analysis on life sciences and aerospace market segments. The purpose of these services is to ensure quality and safety of the products so as to reassure the end-users that a manufacturer has indeed followed international standards and regulations, which ensure environmental protection, public health and safety.

The major drivers for the Testing, Inspection and Certification market include the stringent regulatory initiatives, outsourcing of testing and certification services, awareness among the end-users, and more. One of the major restraints in the market is the lack of internationally accepted standards and local government mandates. The report also discusses the Aerospace and Life Sciences markets along with a detailed geographical analysis. It provides an exhaustive analysis of the current market scenario and the estimation till 2020. The market is registering growth in emerging economies and is expected to grow further due to the regulatory initiatives from the governments and the industry consolidation enabled by the acquisition strategy adopted by the major players in this industry.

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The Testing, Inspection and Certification Market has been segmented based on geography into four regions, namely - North America, Europe, APAC, and Rest of the World (RoW). The report also estimates the market-size of the said regions. Europe is estimated to account for the major share of the Testing, Inspection and Certification Market, followed by North America and APAC. Moreover, the APAC market for testing, inspection, and certification is expected to grow at a high rate.

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