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APAC TIC Services Market Competitive Market Share & Forecast 2021 - 2026

Asia Testing Inspection and Certification (TIC) Services Market Size to surpass USD 85 Billion By 2026.The APAC TIC service market is gaining traction owing to the increasing demand for testing services to ensure effective interoperability of connected devices in this region. Furthermore, the rise in trend of automated testing enables fast reliable and cost-effective automated interoperability testing, which helps businesses to create better connected products. Testing of hardware helps manufacturers to ensure that a device is working properly, perfectly fits in body of the target demographic and also make sure that it is compatible with other devices needed to run the simulation.

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APAC TIC Services Market Competitive Market Share & Forecast 2021 - 2026

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  1. APAC Testing Inspection And Certification Services Market to hit $85 Bn By 2026 : Graphical Research ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  2. Asia Testing Inspection and Certification (TIC) Services Market Size to surpass USD 85 Billion By 2026.The APAC TIC service market is gaining traction owing to the increasing demand for testing services to ensure effective interoperability of connected devices in this region. Furthermore, the rise in trend of automated testing enables fast reliable and cost-effective automated interoperability testing, which helps businesses to create better connected products. Testing of hardware helps manufacturers to ensure that a device is working properly, perfectly fits in body of the target demographic and also make sure that it is compatible with other devices needed to run the simulation. The outsourcing segment accounted for a market share of around 35% in 2019 and will grow due to increasing trend of outsourcing TIC services to third-party service providers across the region. Companies and public organizations are inclined toward outsourcing services, which reduced the operational cost. Outsourcing services provides companies with more time to focus on new product development and R&D activities, enhancing business processes. Various manufacturing industries are undertaking agreements with market players that focus on maintaining operational efficiency. For instance, in July 2020, Intertek partnered with BEXIMCO for managing & operating its PPE for quality assurance laboratories. It provides guidelines for products and manages technical experts for delivery operations. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  3. Get sample copy of this research report @ http://bit.ly/3rC53rL Request for customization @ http://bit.ly/2LAfLzG ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  4. The transportation segment in APAC TIC service market is anticipated to grow at a CAGR of over 7.0% from 2020 to 2026. Growth is attributed to the growing demand for maintenance, testing, and periodic inspection of components and raw materials used in ships, trains, trucks, and aircraft. Rail and marine sectors require TIC services for electrical, chemical, and mechanical testing of parts in carrier vehicles, accelerating the market growth. TIC services enable transportation companies to comply with necessary regulations, which enhances the supply chain management & safety services, increasing their adoption in the transportation industry. Several government investments have been done for bolstering local railway, increasing the growth of the TIC services market. For instance, in October 2019, the Land Transport Authority (LTA) of Singapore made an investment to enhance and modernize its railway. For ensuring reliable rail operations, LTA is encouraging suppliers to establish local support offices in the country. China accounted for over 30% market share in 2019 and will grow at a CAGR of over 8.5% from 2020 to 2026 in the APAC TIC service market. The share is majorly attributed to rising government investments focused on growth of energy and construction sector in the country. The government has eased the entry of international players by uplifting barriers for companies offering TIC services. Also, the rise in adoption & development of electric vehicles and hybrid vehicles will accelerate market growth. The market players of China are strategically entering into collaborations and mergers and catering to expanding growth opportunities. For instance, in March 2019, Bureau Veritas SA acquired EMG Corporation, a company based in the U.S. Key players in the APAC TIC service market are extensively focusing on strategic acquisition to stay competitive and expand their footprint across the globe. For instance, in November 2019, Bureau Veritas acquired Italy-based Q- certificazioni to enter in the organic food market. Some of the key players in the Asia Pacific TIC service market are Dekra, SGS, Intertek, Bureau Veritas, Applus, TUV SUD, and TUV Rheinland. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  5. Segmentation of APAC TIC Service Market • APAC TIC Service Market, By Service • Testing • Inspection • Certification • Others • APAC TIC Service Market, By Type • In-House • Outsource • APAC TIC Service Market, By Application • Agriculture & Food • Life Science • Consumer product • Transportation • Energy • Oil, Gas & Chemical ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  6. About Graphical Research: Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle. Contact Us: Parikhit B. Corporate sales, Graphical Research Email:sales@graphicalresearch.comWeb: https://www.graphicalresearch.com ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

  7. Stay In Touch With Us For: Website: www.graphicalresearch.com Social Media: Assured Quality On-Time Delivery Payment Security Industry Experts ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

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