Testing, Inspection, And Certification Market Size, Share & Trends Report

Testing, Inspection, And Certification Market Size, Share & Trends Analysis Report, By Service Type (Testing, Inspection, Certification), By Sourcing Type, By Application, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-073-6
  • Number of Pages: 153
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2021
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the testing, inspection, and certification market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for testing, inspection, and certification market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of testing, inspection, and certification market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Testing, Inspection, And Certification Market Categorization:

The testing, inspection, and certification market was categorized into four segments, namely service type (Testing, Inspection, Certification), application (Consumer Goods & Retail, Agriculture & Food, Chemicals, Infrastructure, Energy & Power, Education, Government, Manufacturing, Healthcare, Mining, Oil & Gas And Petroleum, Public Sector, Automotive, Aerospace & Defense, Supply Chain & Logistics), sourcing type (In-house, Outsourced), and region (North America, Europe, Asia Pacific, South America, and Middle East & Africa).

Segment Market Methodology:

The testing, inspection, and certification market was segmented into service type, application, sourcing type, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The testing, inspection, and certification market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; Russia; China; Japan; India; South Korea; Australia; Brazil; Argentina; Saudi Arabia; UAE.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Testing, inspection, and certification market companies & financials:

The testing, inspection, and certification market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • ALS Limited - ALS Limited is Australia-based testing, inspection, and certification service, provider. It is listed on the Australian Stock Exchange as ASX: ALQ.The company operates in four business divisions, namely Industrial, Commodities (Minerals & Coal), Oil & Gas, and Life Sciences. The Life Sciences division of the company includes testing and inspection of food and pharmaceutical, environmental, consumer products, and electronics.

  • Applus+ - Applus+ is a global company that provides testing, inspection, and certification. The company ensures the safety of assets and infrastructure while safeguarding the operations of the client.Applus+ has four specialized divisions. These divisions are the energy & industry division, laboratories division, automotive division, and IDIADA division.

  • Bureau Veritas - Bureau Veritas is a multinational company that provides inspection, testing, and certification services and solutions to various industry verticals. It includes inspection solutions for multiple verticals, such as health, quality, safety, and environmental protection. It operates through six business units that could be listed as consumer products, buildings and infrastructure, marine & offshore, certification, agri-food & commodities, and industry.

  • DEKRA SE - The company operates through three business units, namely DEKRA Automotive, DEKRA Inspection, and DEKRA Personal. These business units comprise 12 strategic business segments: vehicle inspection, automotive solutions, expertise, homologation & type approvals, claims services, industrial & construction inspection, material testing & inspection, product testing & certification, business assurance, insight training & education, and temporary work. The company is one of the largest inspection solution providers in Germany. The company is a subsidiary of DEKRA e.V. that manages the group’s operating business.

  • DNV - DNV is a risk management and quality assurance company based in Norway. It has segregated its business units based on applications and functions into maritime, oil & gas, energy, business assurance, software, and others. It mainly provides services such as supply chain, certification, and data management to a wide range of industries.

  • Element Materials Technology - Element Materials Technology is a global provider of testing, inspection & certification services. Element Materials Technology provides testing, inspection, and certification to aerospace, fire, oil & gas, transportation, and infrastructure sector. The company also ensures minimum risk associated with the product and material development activities.

  • Eurofins Scientific - Eurofins Scientific and its companies offer food, environmental, pharmaceutical, cosmetic product testing, and agro science CRO services. It is a multinational independent major competitor in advanced material sciences, discovery pharmacology, genomics, clinical trial assistance, and forensics testing and laboratory services.

  • Intertek Group PLC - Intertek Group PLC is a multinational company that provides solutions for the testing, inspection, and certification of various products. It is a public company listed on the London Stock Exchange as ITRK. It offers products and services to construction, engineering, energy, commodities, food & healthcare, government & trade, retail, and transportation segments. It operates through three segments, namely products, trade, and resources. In 2020, the product segment generated the maximum profit, as compared to others.

  • Mistras Group, Inc. - Mistras Group, Inc. is the global technology-enabled protection solution used to evaluate the structural integrity of critical energy, public and industrial infrastructure. The company also provides asset protection solutions, enterprise software solutions, non-destructive testing, mechanical services, engineering services, and mechanical integrity.

  • SGS S.A. - SGS SA is one of the leading providers of inspection, testing, verification, and certification services for various applications around the globe. It is a multinational company based in Geneva and was founded in 1878. 

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Testing, Inspection, And Certification Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Testing, Inspection, And Certification Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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