What is Factory Audit Service?
Factory auditing is a systematic evaluation of the quality system and compliance of any industry. It plays an important role to find out whether the particular industry is capable or not for carrying out its project. Factory auditing services are gaining more importance as companies are looking to gain greater visibility on their supply chains and sustainable performance. The outburst of the covid-19 pandemic has led service providers toward remote audits with the help of advanced technologies, which will create significant opportunities in the nearer future.
The market study is broken down by Type (Manufacturing Audit, Ethical Audits, Structural Audits, Environmental Audits, Customs-Trade Partnership Against Terrorism (C-TPAT) Audit and Food Supplier Audits) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Pro QC International (United States), Tetra Inspection (Hong Kong), Sedex (United Kingdom), IQS, LLC (United States), SGS SA (Switzerland), HQTS Group Ltd. (China), RSJ Inspection Services (India), QIMA (Hong Kong), Glory Benefit(HK) Limited (China), Modern Testing Services (United States), JW Quality Consulting (United Kingdom) and TÜV SÜD (Germany) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Factory Audit Service market by Type, Application and Region.
On the basis of geography, the market of Factory Audit Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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 End Users, the sub-segment i.e. Manufacturing will boost the Factory Audit Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Small & Medium Enterprises will boost the Factory Audit Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Mode, the sub-segment i.e. Off-site will boost the Factory Audit Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Investment in Innovative Technologies by Key Players to Provide High Level of Services
- Emerging Trend of Off-site Factory Audit Service Due to Increasing Prevalence of Digital Devices and Less Willingness to Devote Time for On-site Auditing
- Surging Demand for Manufacturing and Ethical Audits Among the End-Users to Measure the Performance and Social Accountability of Organization
- Growing Popularity of Factory Audit Services Among the Large Scale Industries
- Rapidly Growing Development of Manufacturing Industries in the CIS and Asian Countries like China and India
- Lack of Skillful Workforce and Control over Standard of Service
- High Cost of On-site Factory Auditing is the is Biggest Challenge that Limits the Market in the Small and Medium-scale Industries
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Factory Audit Service Providers, Venture Capitalists and Private Equity Firms, Government Bodies and Research Organizations, End-Users and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Pro QC International (United States), Tetra Inspection (Hong Kong), Sedex (United Kingdom), IQS, LLC (United States), SGS SA (Switzerland), HQTS Group Ltd. (China), RSJ Inspection Services (India), QIMA (Hong Kong), Glory Benefit(HK) Limited (China), Modern Testing Services (United States), JW Quality Consulting (United Kingdom) and TÜV SÜD (Germany) etc.
2. Can we have customized study for Factory Audit Service Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Factory Audit Service Market by 2027?
Analysts at AMA estimates Factory Audit Service Market to reach USD Million by 2027.