The Europe testing, inspection, and certification market was valued at USD 56.22 billion in 2019 which is expected to reach USD 76.56 billion by 2027 at a CAGR 4.5%.
The testing, inspection, and certification market consists of conformity assessment bodies which offer services ranging from auditing, inspection, to testing, quality assurance, and certification. Recently, Germany is dominating the Europe testing, inspection and certification market which expected to propel the demand for testing, inspection, and certification services in Europe. The Europe has highly industrialized and leading industries including automotive, electronics, as well as food & beverages industry will have the positive impact on market.
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Increase in developments in Consumer Goods & Retail segment in Europe expected to hold Major Share:
Due to rise in competition in Europe from new markets and increase in demand for quality from consumers, and quality assurance are important for consumers. Most of the consumer goods and retail services make use of inspection, testing, and certification services. Companies based in UK are adapting to changed rules regarding activities in the area of testing, inspection, and certification.
Increase in technological advancements and adoption of IoT (Internet of Things) will have the positive impact on market growth during this forecast period.
Lack of Internationally Accepted Standards and regulations among Various Geographies:
Lack of internationally accepted standards and regulations is major challenging factor which expected to hinder the market growth. Various countries have their own rules and regulation standards. This factors influences the decision making of the manufacturer whether to export or not to a given country Standards, rules and regulations vary between different types of products and services. Meeting the international standards often results in a raised cost, as it is likely to lead to changing of design of a particular product or service.
Market Key Players
Various key players are discussed in this report such as SGS SA, TUV SUD Limited, Applus Services Ltd, Bureau Veritas SA, Intertek Group PLC, ALS Limited, DNV GL, and
DEKRA Automobil GmbH
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- Increase in trend of Testing, Inspection, and Certification services being outsourced; the independent TIC organizations in the region, considering the presence of industrial control and smart equipments manufacturers in Europe.
- Advanced Technologies such as Big Data, Industry 4.0, and Artificial Intelligence, Blockchain, and Collaborative Social business are anticipated to positively impact the testing, inspection, and Certification, market.
By Service Type
By End User
- Healthcare & Pharmaceutical
- Food & Beverages
- Consumer Good & Retail
- Energy & Power
- Manufacturing & Construction
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