3/27/2023 0 Comments Sun haven tanning westThe COVID-19 outbreak has caused serious challenges to the global economy across various industry verticals. The Impact of COVID-19 on the Testing, inspection, & certification market Dynamic international regulatory standards across different regions also challenge the growth of the TIC market. However, the lack of testing facilities and skilled resources are crucial restraining factors hindering this market’s growth to some extent. The surge in consumer awareness towards food safety is also offering lucrative growth opportunities for market growth. The growth of this market is mainly attributed to the strict regulatory standards imposed by governments and the consistent rise in the illicit trade of forged & pirated goods. The TIC sector consists of conformity assessment bodies that provide services ranging from auditing and inspection to testing, verification, quality assurance, and certification. Such services help organizations meet recognized standards, regulations, and policies to improve the product's quality. Testing, inspection, and certification (TIC) services help companies operating across various industrial verticals improve their productivity, efficiency, and process within departments. According to a new market research report titled “ Testing, Inspection, and Certification Market by Service, End User (Retail, Agriculture, Oil and Gas, Construction, Chemicals, Machinery, Transportation, Automotive, Government, Marine, Healthcare), and Region - Global Forecast to 2027,” published by Meticulous Research®, the testing, inspection, & certification market is expected to grow at a CAGR of 5.4% from 2021 to 2027 to reach $143.3 billion by 2027.
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