Electrical & Electronics Testing, Inspection and Certification Market Scope
Electrical & Electronics Testing, Inspection, and Certification (E&E TIC) refers to the process of evaluating the safety, performance, and compliance of electrical and electronic products with relevant standards and regulations. This process usually involves a series of tests, inspections, and assessments to ensure that the products meet specific quality, safety, and performance criteria. The goal of E&E TIC is to minimize the risk of electrical and electronic products causing harm to people, property, or the environment and to promote consumer confidence in these products. TIC services are typically performed by independent third-party organizations known as certification bodies. The increased safety of electrical and electronic products this factor is driving the market. Electrical & Electronics Testing, Inspection, and Certification can be a costly process, especially for small and medium-sized enterprises this factor may restrain the market.
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|Key Companies Profiled||Bureau Veritas SA (France), SGS Société Générale de Surveillance SA (Switzerland), Dekra Certification Gmbh (Germany), MISTRAS Group (United States), Intertek Group PLC (United Kingdom), ALS Limited (Australia), ASTM International (United States), The British Standards Institution (BSI) Group (United Kingdom), Sai Global Limited (United States) and TUV SUD AG (Germany)|
Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality service to cater to the ever-growing demand for Electrical & Electronics Testing, Inspection, and Certification. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Electrical & Electronics Testing, Inspection and Certification market throughout the predicted period.
Bureau Veritas SA (France), SGS Société Générale de Surveillance SA (Switzerland), Dekra Certification Gmbh (Germany), MISTRAS Group (United States), Intertek Group PLC (United Kingdom), ALS Limited (Australia), ASTM International (United States), The British Standards Institution (BSI) Group (United Kingdom), Sai Global Limited (United States) and TUV SUD AG (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Applus+ (Spain), UL LLC (United States), NSF International (United States), National Technical Systems Inc (United States), TÜV Rheinland (Germany), TUV NORD AG (Germany), CSA Group (Canada), Element Materials Technology (United Kingdom) and Eurofins Scientific (Luxembourg).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Electrical & Electronics Testing, Inspection and Certification market by Type , by Application (Consumer Electronics, Healthcare, Automotive, Industrial Equipment, Building & Construction and Others) and Region with country level break-up.
On the basis of geography, the market of Electrical & Electronics Testing, Inspection and Certification 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). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn May 2021, SGS Announces the Acquisition of Brightsight, the World’s Leading Cybersecurity Evaluation Laboratory Network for Chip-Based Security Products. Brightsight is an independent network of laboratories located in the Netherlands (its largest laboratory and headquarters are based in Delft)
In January 2023, Bureau veritas launched a certification scheme for renewable hydrogen, thus supporting the growing renewable sector and accelerating the energy transition. This certification scheme is a result of demands from both hydrogen producers and off-takers for comprehensive standards adapted to the fast-expanding global hydrogen market
Influencing Trend:Increasing adoption of advanced technologies in the industrial, healthcare, and other industries
Market Growth Drivers:Increase the safety of electrical and electronic products
Challenges:Electrical and electronics industry is highly regulated and there are numerous standards and regulations
Restraints:Electrical & Electronics Testing, Inspection, and Certification can be a costly process, especially for small and medium-sized enterprises
Opportunities:Increasing demand for Electrical & Electronics Testing, Inspection, and Certification
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries