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TIC Market for Fire Safety Equipment– Growth And Leading Keyplayers - Analysis a

The testing, inspection, and certification market for fire safety equipment is around USD 500 to 550 million in 2020, registering a CAGR of 4% during the forecast period 2021-2027. Testing in TIC means an industrial activity that assures manufactured products, individual components, and multi-component systems are suitable for the predetermined purpose.

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TIC Market for Fire Safety Equipment– Growth And Leading Keyplayers - Analysis a

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  1. TIC Market for Fire Safety Equipment

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. TIC Market for Fire Safety Equipment The testing, inspection, and certification market for fire safety equipment is around USD 500 to 550 million in 2020, registering a CAGR of 4% during the forecast period 2021-2027. Testing in TIC means an industrial activity that assures manufactured products, individual components, and multi-component systems are suitable for the predetermined purpose. Inspection and testing are the operating parts of quality control which supports cost, productivity, on-time delivery, and market share, thus the critical factor for the survival of any manufacturing company. The testing, inspection, and certification market report is composed of conformity assessment agencies, which provide services from audit and inspection to testing, verification, quality assurance, and certification.

  4. TIC Market for Fire Safety Equipment The COVID-19 pandemic resulted in a short-term decline in demand and revenue in the first quarter of 2020. This has impacted a decline in the installation of new fire safety equipment in industrial and commercial sectors. Nevertheless, there is a growth in spending on new construction activities and replacing obsolete fire alarms, sprinklers, and detectors, which will propel the growth of the fire safety equipment market. Thus, TIC is playing a crucial role by offering assurance that the products and services offered to the customers will provide safety and health standards. The growing government-enforced regulations, considerable industry standards, certification requirements, and huge penalties against non-compliance parties are projected to drive the demand for TIC in fire safety equipment. Moreover, there is an increase in the adoption of safety systems across industry verticals, and the rising automation in buildings will further drive the growth of the TIC market.

  5. TIC Market for Fire Safety Equipment The business enterprises have started opening development centers in new locations to enhance market penetration which helps in building business relations with customers and clients. Moreover, the industry players in the TIC market have started building strategies like mergers and acquisitions, product innovation, and geographical expansion to hold a major share in the TIC market. Bureau Veritas announced the global technology and business collaboration for the development of laboratory testing services based on artificial intelligence (AI). Some of the key players operating in the TIC market in the fire safety equipment: Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins USA, TUV Rheinland, DEKRA SE, ALS Limited, Applus+, and DNV GL.

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