Global Electrical & Electronics Testing, Inspection, and Certification Market Industry Trends, Opportunities, Estimation & Forecast, 2019-2027
Electrical & Electronics Testing, inspection, and certification (TIC) plays a huge role to make sure the services, infrastructure, products are met with the values and rules regarding safety and quality. With inspection and testing at regular intervals across a couple of industries, like oil and gas becoming mandatory, the Electrical & Electronics TIC services are expected to grow in demand, regardless of the economic seasonality.
“Global Electrical & Electronics Testing, Inspection, And Certification Market was Valued at US$ XX Mn in 2018 and it is Expected to Reach More than US$ XX Mn by 2027, Likely to Grow with the CAGR of 5.6% During the Forecast Period”
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North America is dominating the electrical and electronics testing, inspection, and certification market due to the varied quality standard certification followed across North America which include USTC, CEC, and NOM among others. The US may be a prominent market thanks to the high specialize in maintaining quality standards of the manufactured product is predicted to influence the market. Asia-Pacific is that the fastest growing region, projecting a CAGR of seven .08% where major contribution is witnessed from countries like China and Japan, because of the necessity of varied product marking/certifications applicable within the region include CCC China, China RoHS, BSMI mark, Taiwan, Korean RoHS, etc.
On August 2019, SGS Mexico announced its accreditation to perform full scope testing against the ecu Union’s RoHS Directive, which aims to scale back the impact of electrical and electronics equipment (EEE) on the environment. In December 2018, MISTRAS acquired Onstream Pipeline Inspection Services, Inc. (US) that gives a number one, proprietary, technology-enabled pipeline inspection and data analytics platform. Key industry players such SGS SA, Bureau Veritas SA, Dekra Certification Gmbh, Intertek Group PLC, ALS Limited, ASTM International, The British Standards Institution (BSI) Group, Sai Global Limited, Tuv Sud, Applus+, UL LLC, NSF International, National Technical Systems, Inc, TÜV Rheinland , TUV NORD AG, CSA Group, Element Materials Technology, and Eurofins Scientific, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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