The South Africa Testing, Inspection & Certification Market is anticipated to hit $1.19 billion by 2023 at a CAGR of 8.47%
According to the new market research report by IndustryARC titled “South Africa Testing, Inspection and Certification Market: By Applications (Quality and Safety Services, Product Performance, Industrial Inspection, Others; By End-User (Automotive, Food, Medicine, Oil & Gas, System Compliance, Commercial & Others) – Forecast (2018-2023)”, the market will be driven by the introduction and implementation of new regulation in end user industries, such as agriculture and mining industries.
Selected Value Chain & Ecosystem Analysis Done in the Full Report
The Value Chain for Testing, Inspection & Certification (TIC) Services varies congruous with industry verticals, processes and the nature of services, as there is no ‘one size fits for all when it comes to value chain for the entire TIC services activity and stakeholders. Hence, an ecosystem can be described to understand the nature of the TIC market
Testing
▪It’s a short term process of measuring the properties and performance of products.
▪The document generated in the process is a testing report.
Inspection
▪There also lies a short-term process of investigating the process which usually refers to the activity of checking products, analyzing manufacturing processes, and organizations.
Certification
▪This is a long term process that follows Testing & Inspection phases. Here, a product will be certified for passing through rigorous performance and quality assurance tests. Thus they meet the local or international quality standards relevant to a particular market or product set.
▪This is a key step ensuring that the required quality and reliability parameters have been observed post which, offering can be made commercial.
Talk to one of our sales representative about the full report by providing your details in the below link:
https://industryarc.com/Report/18576/south-africa-testing-inspection-certification-services-market.html?
Excerpts on Market Growth Factors
Outhouse/outsourcing TIC market is estimated to reach $566.92m by 2023, growing at a CAGR of 11.45%.
The TIC market for product performance evaluation is estimated to reach $162.33 million by 2023, growing at a CAGR 9.05% during the forecast period.
System certification is the major segment among the industrial inspection techniques with expected revenue of $105.39 million by 2023 at a CAGR of 10.09%.
The key applications include Quality & Safety Services, product performance, among others. Food and industrial segments will register the growth of 10.5% and 9.78% respectively in the same forecast period.
Advent of new technologies, rising awareness on safety measures, stringent environment compliances have changed the South Africa industry outlook entirely with respect to the standard and safety regulation which ensure to safeguard individual, machines, and so on.
TIC companies reformed their services as per the supply chain and can perform test, inspect and certify products irrespective of where the product is being manufactured, installed or procured.
Industrial TIC held the largest share of around 24% in 2017, though Medicine & Life Science end user is estimated to have fastest growth of 12.2% during the forecast period owing to the rapid industrialization in South Africa.
System certification application segment accounted for nearly 36% of the South Africa industrial testing, inspection & certification market in the year of 2017, and is projected to witness fastest growth during the period of 2018-2023.
This is followed by laboratory outsourcing application accounting for nearly 28% of the South Africa industrial TIC market and is projected to grow at a CAGR of 9.82% during the forecast period
The market for certification and valuation of shipments is estimated to reach $351.44 million in 2023, growing at a CAGR 7.9% during the forecast period.
The South Africa Market region has grown during the recent years owing to the rise in foreign investments and government initiatives. Increased political stability and their growing resource utilization are driving the growth.
To access the full report browse the link below
https://industryarc.com/Report/18576/south-africa-testing-inspection-certification-services-market.html?
Key players of the South Africa Testing, Inspection and Certification Market:
Bureau Veritas S.A., Neda Engineering, SGS S.A., TUV Rheinland Group, DNV GL Group, Ultrascan Inspection CC, Sonartech, Dekra SE, Stanley Inspection, Intertek Group plc, TUV SUD AG, TUV Nord Group are considered as major players of the RSA Testing, Inspection, & Certification Market.
Some of the TIC companies assist manufacturers to get the certifications and these are Bureau Veritas, Intertek among others.
Selected Value Chain & Ecosystem Analysis Done in the Full Report
The Value Chain for Testing, Inspection & Certification (TIC) Services varies congruous with industry verticals, processes and the nature of services, as there is no ‘one size fits for all when it comes to value chain for the entire TIC services activity and stakeholders. Hence, an ecosystem can be described to understand the nature of the TIC market
Testing
▪It’s a short term process of measuring the properties and performance of products.
▪The document generated in the process is a testing report.
Inspection
▪There also lies a short-term process of investigating the process which usually refers to the activity of checking products, analyzing manufacturing processes, and organizations.
Certification
▪This is a long term process that follows Testing & Inspection phases. Here, a product will be certified for passing through rigorous performance and quality assurance tests. Thus they meet the local or international quality standards relevant to a particular market or product set.
▪This is a key step ensuring that the required quality and reliability parameters have been observed post which, offering can be made commercial.
Talk to one of our sales representative about the full report by providing your details in the below link:
https://industryarc.com/Report/18576/south-africa-testing-inspection-certification-services-market.html?
Excerpts on Market Growth Factors
Outhouse/outsourcing TIC market is estimated to reach $566.92m by 2023, growing at a CAGR of 11.45%.
The TIC market for product performance evaluation is estimated to reach $162.33 million by 2023, growing at a CAGR 9.05% during the forecast period.
System certification is the major segment among the industrial inspection techniques with expected revenue of $105.39 million by 2023 at a CAGR of 10.09%.
The key applications include Quality & Safety Services, product performance, among others. Food and industrial segments will register the growth of 10.5% and 9.78% respectively in the same forecast period.
Advent of new technologies, rising awareness on safety measures, stringent environment compliances have changed the South Africa industry outlook entirely with respect to the standard and safety regulation which ensure to safeguard individual, machines, and so on.
TIC companies reformed their services as per the supply chain and can perform test, inspect and certify products irrespective of where the product is being manufactured, installed or procured.
Industrial TIC held the largest share of around 24% in 2017, though Medicine & Life Science end user is estimated to have fastest growth of 12.2% during the forecast period owing to the rapid industrialization in South Africa.
System certification application segment accounted for nearly 36% of the South Africa industrial testing, inspection & certification market in the year of 2017, and is projected to witness fastest growth during the period of 2018-2023.
This is followed by laboratory outsourcing application accounting for nearly 28% of the South Africa industrial TIC market and is projected to grow at a CAGR of 9.82% during the forecast period
The market for certification and valuation of shipments is estimated to reach $351.44 million in 2023, growing at a CAGR 7.9% during the forecast period.
The South Africa Market region has grown during the recent years owing to the rise in foreign investments and government initiatives. Increased political stability and their growing resource utilization are driving the growth.
To access the full report browse the link below
https://industryarc.com/Report/18576/south-africa-testing-inspection-certification-services-market.html?
Key players of the South Africa Testing, Inspection and Certification Market:
Bureau Veritas S.A., Neda Engineering, SGS S.A., TUV Rheinland Group, DNV GL Group, Ultrascan Inspection CC, Sonartech, Dekra SE, Stanley Inspection, Intertek Group plc, TUV SUD AG, TUV Nord Group are considered as major players of the RSA Testing, Inspection, & Certification Market.
Some of the TIC companies assist manufacturers to get the certifications and these are Bureau Veritas, Intertek among others.
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