Global Testing and Analysis Services Market Overview:
The testing and analysis services including composition analysis, trace contamination detection, metals testing, and other types of testing are included in this market. The testing and analysis services are performed in various industry sectors majorly its revenue generated by the food industry, along with huge development in food and beverages with respect to the rising consumer and government awareness towards healthy life styles is creating a huge demand in this market. In current market scenarios. The leading players are offered a complete range of various types of testing services such as mechanical, material, consumer product testing, and others. Some of the key players profiled in the study are LECO Corporation (United States), Koninklijke Philips N.V. (Netherlands), Maxxam Analytics (Canada), Acuren (Canada), Eurofins (Luxembourg), ALS Global (Australia), Intertek Group plc. (United Kingdom), SGS S.A. (Switzerland), Exova Group plc. (United Kingdom) and Bureau Veritas S. A. (France).
On the basis of geography, the market of Testing and Analysis Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Endpoint Interface, the sub-segment i.e. Mobile will boost the Testing and Analysis Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Analytic Services , the sub-segment i.e. Chemical Analysis and Assays will boost the Testing and Analysis Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Testing, the sub-segment i.e. Mechanical Testing will boost the Testing and Analysis Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- With the rising number of incidence from the past few years such as increasing threats bird flu types diseases. With this, there is the increasing number of environmental concerns such as water pollution. Because of this, there is increasing behavior towards enhanced designing approach and also increasing research and development initiatives.
- High Adoption in North America Region Because Of Rising Safety Regulations at Fast-Food Chains
- Rising Adoption of Advanced Monitoring Solutions
- Pricing Pressure Faced By Major Players
- Shortage of Skilled Professionals
- Rising Number of Small and Medium Size Organizations across the Developed Regions
- Growing Demand for Specialized Analytical Testing Services
- Development of Appropriate Dissolution Methods
- Rising Demand to Improve the Sensitivity of Analytical Methods
Major Market Developments:
In May 2019, BBA announced the acquisition of the Power system Asset Management Solutions. This acquisition adds BBA’s product portfolio full range of advanced electrical testing and analysis services for industrial companies and utilities. And it also helps in becoming a leader in testing, commissioning, maintenance and power system operation support.
In Dec 2019, Red Balloon Security and Atredis Partners announced the collaboration to protect corporations, manufacturers and suppliers. This partnership provides advanced security testing, firmware analysis, and assessment services.
The market is led by the key players who are majorly focusing on production technologies, improving efficiency and shelf life. The market growth potential is captured by evaluating the ongoing process development and financial flexibility to invest in market growth strategies.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Testing and Analysis Services Providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Testing and Analysis Services market on the basis of product  , application [Food/Beverages, Pharma/Medical Device, Oil, Energy & Gas, Minerals, Chemicals, Environment and Agriculture and Metal And Alloys], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Testing and Analysis Services market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Testing and Analysis Services industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are MPI Research (United States), Merck KGaA (Germany) and Source Bioscience (United Kingdom).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Testing and Analysis Services market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.