Electrical and Electronics Testing, Inspection and Certification Market 2021 | Growth Along with Global Industry Size, Share, Trends, Key Drivers, Major Manufactures, Business Insight & Forecast 2025
Market Analysis
The electrical & electronics testing, inspection, & certification market will touch USD 133,116.9 million at a 5.8% CAGR between 2019- 2025, as per the Market Research Future (MRFR) analysis. This certification includes testing, inspection, auditing, certification, and quality assurance services. They are used by organizations in different industry verticals to improve efficiency and productivity of manufacturing processes for manufacturers to cater to the globally recognized standards, policies, and regulations set by the government to augment the quality of products.
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Various factors are propelling the electrical and electronics testing, inspection, and certification market growth. As per the MRFR report, such factors include growing demand in household appliance testing, need for equipment validation, rise in smart home projects, growing need for safety, the inclination towards outsourced TIC services, advances in networking and communication technologies, and increase in the illicit trade of pirated and counterfeit goods.
On the contrary, changes in regulations and technologies, lack of global certification standards, and the current COVID-19 pandemic may impede the electrical and electronics testing, inspection, and certification market growth over the forecast period.
Market Segmentation
The Market Research Future Report highlights an inclusive segmental analysis of the global electrical and electronics TIC market based on offerings, product, and service type.
By service type, the global electrical and electronics testing, inspection, and certification market is segmented into certification service, inspection, and testing. Of these, the testing service type segment will lead the market over the forecast period.
By product, the global electrical and electronics testing, inspection, and certification market is segmented into security and access control, household appliances, e-toys, electrical component, HVAC system, smart wiring system, and smart lighting system. Of these, the electrical component segment will dominate the market over the forecast period.
By offerings, the global electrical and electronics testing, inspection, and certification market is segmented into cybersecurity services, energy efficiency testing, digital services, connectivity, electrical safety, and electromagnetic compatibility. Of these, the electromagnetic compatibility offerings segment will spearhead the market over the forecast period.
Regional Analysis
By region, the global electrical and electronics testing, inspection, and certification market covers the market opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), South America, and the Middle East and Africa (MEA). Among these, North America will lead the market over the forecast period. Stringent testing and inspection regulation for electrical and electronic products, including different quality standard certifications like NOM, CEC, and USTC is adding to the global electrical and electronics testing, inspection, and certification market growth in the region. The United States possess the utmost share in the market.
In Europe, the electrical and electronics testing, inspection, and certification market is predicted to hold the second-largest share during the forecast period. The presence of key players in ICT, power electronics, and semiconductors segment, and Germany being at the forefront of technology and innovation are adding to the electrical and electronics testing, inspection, and certification market growth in the region.
In the APAC region, the electrical and electronics testing, inspection, and certification market is predicted to have sound growth over the forecast period. It is predicted to develop at a 7.1% CAGR. Growing awareness among consumers about the significance of certification and rising per capita income of the middle-class population are adding to the global electrical and electronics testing, inspection, and certification market growth in the region.
In the MEA and South America, the electrical and electronics testing, inspection, and certification market is predicted to have sound growth over the forecast period.
Key Players
Key players profiled in the global electrical and electronics testing, inspection, and certification market report include Eurofins Scientific, Element Materials Technology, CSA Group, TUV NORD AG, TÜV Rheinland, National Technical Systems, Inc, NSF International, UL LLC, Applus+, Tuv Sud, Sai Global Limited, The British Standards Institution (BSI) Group, ASTM International, ALS Limited, Intertek Group PLC, Dekra Certification Gmbh, Bureau Veritas SA, and SGS SA.
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