Electrical & Electronics Testing, Inspection, & Certification Market Size, Business Opportunities and Industry Forecast to 2027
Market Analysis
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.
The Electrical & Electronics Testing, Inspection, & Certification
Market will touch USD 133,116.9 million at
a 5.8% CAGR between 2021- 2027, 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.
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.
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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.
Market Segmentation
The Market Research Future Report
highlights an inclusive segmental analysis of the global electrical and
electronics testing, inspection, and certification 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.
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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