The North America Testing, Inspection and Certification (TIC) Market would witness market growth of 3.6% CAGR during the forecast period (2024-2031).
The US market dominated the North America Testing, Inspection and Certification (TIC) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $69,989.1 million by 2031. The Canada market is experiencing a CAGR of 3.9% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 4.6% during (2024 - 2031).
Testing, Inspection, and Certification (TIC) are interconnected processes ensuring products, services, and systems meet specified requirements and standards. These processes are essential for maintaining quality, safety, and compliance across various industries.
Additionally, TIC solutions are typically required to ascertain whether the goods provided by manufacturing companies comply with the essential norms and legislation. As an illustration, testing services are employed in the automotive sector to guarantee that various components and solutions adhere to the set standards and legal criteria.
The North American market is robust and continues to grow, driven by its industries' diverse and evolving needs. According to the TIC Council, the demand for TIC services generated between $30 billion and $55 billion in revenue by 2020, with the independent TIC sector accounting for about 35% of that total. The sectors that provide the highest proportions of TIC revenue are energy and utilities (15%), food and beverage (13%), and chemicals (12%).
Free Valuable Insights: The Testing, Inspection and Certification (TIC) Market is Predict to reach USD 331 Billion by 2031, at a CAGR of 4.3%
Based on Service Type, the market is segmented into Testing, Inspection, and Certification. Based on Sourcing Type, the market is segmented into In-house and Outsourced. Based on Application, the market is segmented into Consumer Goods & Retail, Agriculture & Food, Chemicals, Infrastructure, Manufacturing, Medical & Lifesciences, Mining, Oil & Gas, Automotive, Public Sector, and IT, Telecom & Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Service Type
By Sourcing Type
By Application
By Country
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