Europe TIC Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

Northbrook, USA, 2021-Nov-26 — /EPR Network/ —

The report Europe TIC Market by Sourcing type (In-house and Outsourced services), Service type (Testing, Inspection and Certification), Application (Consumer Goods and Retail, Automotive, Aerospace) and Country – Forecast to 2025 “, is projected to grow from USD 50.1 billion in 2020 to USD 60.4 billion in 2025, at a CAGR of 3.8%. The growth can be attributed to the rising demand for certification to ensure safety as the awareness of the consumers are increasing and to ensure product reliability.

Download PDF Brochure @

Outsourced Services, by scanning type, is expected to grow at the highest CAGR during the forecast period

With the increasing in conformity demands from the governments and to ensure expert TIC services, Outsourced services are expected to increase. Third party TIC service providers ensure accurate results with no biasness. The push toward outsourcing by manufacturing companies, and in specific instances, the privatization of state-owned laboratories is expected to continue to be a robust factor driving the progress of the Europe TIC market for outsourced services.

Certification service, by service type, is expected to grow at the highest CAGR during the forecast period

The Europe TIC market for certification services is expected to grow at the highest CAGR as product certification provides the assurance that products meet the codes and standards that deem those products appropriate for use. For resellers, product certification assures that products they receive will consistently adhere to the same level of performance. Moreover, Certification goes beyond testing of products to include the review and oversight of a manufacturer’s production process, quality system, and ongoing quality control.

Consumer goods and retail application, is expected to account for the largest market share during the forecast period

Consumer goods and retail comprise of the products which are used by the customers on daily basis like basic electronics, necessities, personal products, hard line goods and soft line goods. These products have huge assortment under them are having to comply to the standards in order to be good to use. The huge product range and volume of goods help the application in sharing the largest market share in the forecast period.

Germany, by country, is expected to account for the largest market share during the forecast period

One of the major reasons for Germany’s domination of the market is the presence of several prominent automotive, aerospace, military & defense, scientific research, and medical players, which is generating demand for TIC services. As Germany is the largest producer of automobiles, innovative technologies are being used for the production and hence even for the testing of these modern vehicles.

Inquiry Before Buying @

A few key players operating in the Germany market are TÜV SÜD (Germany), Applus (Spain), SGS (Switzerland), TÜV Nord (Germany), TÜV Rheinland (Germany), Bureau Veritas (France), Intertek (UK), Eurofins Scientific (Luxembourg)

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Matched content

Editor’s pick

Express Press Release Distribution